Drexel Morgan & Co. announced on Thursday that it acquired McCabe Capital Managers, Ltd. To expand the firm’s wealth management and clients services capabilities.

Drexel Morgan, the Philadelphia, PA financial holding company, announced that it signed and closed on a definitive agreement for the acquisition of McCabe Capital, an independent wealth management and investment advisory firm, also based in Philadelphia. McCabe Capital has been in business for 28 years, providing investment management, manager selection and monitoring, asset allocation, and advice to financial institutions and families around alternative investments and other niche asset classes.

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