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Argent Financial Group acquires a public funds custody book
04 November 2026 US
Image: JerreMaier/stock.adobe.com
Argent Financial Group has acquired a public funds custody book of business representing approximately 42 custody relationships and over US$19 billion in assets under administration (AUM).
Argent says that the acquisition strengthens its position as an independent custodian for public-sector, governmental, and institutional investors.
As part of the transaction, the business will report to Argent's custody division president, Luke McCabe.
Argent Trust Company's North Andover, Massachusetts office gives Argent its first presence in Greater Boston.
Transaction adds approximately US$19 billion in AUM and establishes a Greater Boston presence, the firm adds.
Existing clients will experience continuity throughout the transition.
There will be no changes to operating procedures or the existing service model, allowing clients to benefit from a seamless transition while continuing to work with the same experienced professionals.
McCabe says: “Today marks an important milestone in Argent's growth strategy and our commitment to the public funds and endowment marketplaces. The new team reflects Argent's focus on service, integrity, and expertise that define our culture.”
Kyle McDonald, CEO of Argent Financial Group, adds: “This transaction significantly expands our platform as an independent custodian to institutional investors. We’re pleased to welcome this team, and we look forward to continuing to serve public plans, municipalities, and educational and governmental institutions with the specialised custody solutions they expect.”
Argent says that the acquisition strengthens its position as an independent custodian for public-sector, governmental, and institutional investors.
As part of the transaction, the business will report to Argent's custody division president, Luke McCabe.
Argent Trust Company's North Andover, Massachusetts office gives Argent its first presence in Greater Boston.
Transaction adds approximately US$19 billion in AUM and establishes a Greater Boston presence, the firm adds.
Existing clients will experience continuity throughout the transition.
There will be no changes to operating procedures or the existing service model, allowing clients to benefit from a seamless transition while continuing to work with the same experienced professionals.
McCabe says: “Today marks an important milestone in Argent's growth strategy and our commitment to the public funds and endowment marketplaces. The new team reflects Argent's focus on service, integrity, and expertise that define our culture.”
Kyle McDonald, CEO of Argent Financial Group, adds: “This transaction significantly expands our platform as an independent custodian to institutional investors. We’re pleased to welcome this team, and we look forward to continuing to serve public plans, municipalities, and educational and governmental institutions with the specialised custody solutions they expect.”
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