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Charles Schwab to buy USAA Investment for $1.8B

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Charles Schwab Corp. penned a deal to purchase USAA Investment Management Co. for $1.8 billion.

Schwab, which currently has a $1.9 trillion investor services business, would add $90 billion in client assets and over 1 million accounts through the deal.

USAA Investment Management is a subsidiary of USAA, which offers home, life and auto insurance, as well as banking and investment services.

Read more from the San Antonio Business Journal.


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