City Financial sells its last business
City sold CSI, as it is called, to
City, whose roots date to 1924, had been evaluating strategic options the past several years, a process that concluded in 2016 with the sale of CSI and two other companies.
It sold
The transaction with Omni closed in June and the Stifel deal was set to close
"It's a bittersweet situation," CSI President
He added, "This is the best situation- local head count remains in place and we receive the benefit of national resources."
Under the agreement with NFP, CSI's 35 employees will be retained and will continue to operate out of the same office at
CSI had 3,500 clients and
Dillon said NFP was one of nine potential buyers since the company started courting suitors about a year ago. He said NFP brings a plethora of expertise and resources to his team and clients, including employee-benefits solutions CSI didn't have.


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