Margarida Correia

The acquisition of the New York City-based firm is expected to boost People's United's assets under management to $8 billion.

Second-quarter revenue from trust and brokerage services sank 11% and 10%, respectively, from the same period last year.

Second-quarter revenue declined across trust, insurance and brokerage businesses, with trust services posting the sharpest fall.

The executive has added 15 new advisers this year and plans to add 15 more by the end of 2016, bringing the total broker force to 130.

The Birmingham, Ala.-based bank generated $103 million in second-quarter revenue from its brokerage, trust and insurance operations, up 6.2% year-over-year.

Second-quarter profits from wealth management and securities services jumped 56.3% to $100 million from $64 million a year ago.

Second-quarter revenue dipped 9.4% year-over-year, while profits plunged 22.5%.

For the first six months of 2016, the bank's global wealth management businesses generated $2.9 billion in revenue, flat from the same period last year.

The North Carolina credit union will look to CUSO to help it expand its investment services program, which has about $13.8 million in AUM.

The firm admitted to wrongdoing, saying the incomplete trading data was due to a computer coding error.