The wealth management unit of Citigroup Inc. has agreed to buy Legg Mason Inc.’s managed account trading and technology operations.

Citigroup, the largest bank in the U.S., said the purchase will improve efficiency by allowing it to incorporate mutual funds, exchange-traded funds and separately managed accounts into one account structure.

The Legg Mason employees in those areas will join Citigroup, including President and CIO Roger Paradiso and Chief Investment Strategist Michael Scotto.

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