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Reliance Acquires Harrington Wealth Management

Wendy Connett

27 January 2011

Reliance Trust Company has acquired Harrington Wealth Management, a subsidiary of Pacific Western Bank.

The acquisition is part of what Reliance described as its strategy of expanding assets under management and building a national presence through strategic talent acquisition. Reliance is a subsidiary of Reliance Financial Corporation.

Harrington provides trust and investment management services to individuals and institutional clients. 

Three of its wealth management executives, Richard Harrison, David Goodman and Larry O'Callaghan, will join Reliance Trust’s wealth management team. Acquiring Harrington expands the Atlanta-based company’s reach to include California, Indiana and the Kansas City area.

Terms of the deal were not disclosed.

Harrington became a subsidiary of Pacific Western Bank when it acquired its former parent, Solvang-based Los Padres Bank, from the Federal Deposit Insurance Corporation last August.

Reliance Financial has more than $80 billion in assets under management and administration.