Transaction adds approximately $19 billion in assets under administration and establishes a Greater Boston presence

RUSTON, La., Nov. 2, 2026 /PRNewswire/ — Argent Financial Group (Argent), through its subsidiaries, Argent Trust Company (ATC) and Argent Institutional Trust Company (AITC), today announced the completion of a strategic transaction where it acquired a public funds custody book of business representing approximately 42 custody relationships and over $19 billion in assets under administration.

The acquisition strengthens Argent’s position as an independent custodian for public-sector, governmental, and institutional investors. As part of the transaction, the business will report to Argent’s custody division president, Luke McCabe. ATC’s North Andover, Massachusetts office gives Argent its first presence in Greater Boston.

Existing clients will experience continuity throughout the transition. There will be no changes to operating procedures or the existing service model, allowing clients to benefit from a seamless transition while continuing to work with the same experienced professionals.

“Today marks an important milestone in Argent’s growth strategy and our commitment to the public funds and endowment marketplaces,” said McCabe. “The new team reflects Argent’s focus on service, integrity, and expertise that define our culture.”

The acquisition continues Argent’s strategic investment in the municipal and governmental plan market. Over the past 12 months, the firm has been awarded nearly 50 new custody mandates from public funds, pension plans, and related institutional clients.

“This transaction significantly expands our platform as an independent custodian to institutional investors,” said Kyle McDonald, CEO of Argent Financial Group. “We’re pleased to welcome this team, and we look forward to continuing to serve public plans, municipalities, and educational and governmental institutions with the specialized custody solutions they expect.”

The transaction reflects Argent’s broader strategy of expanding its custody, trustee, escrow and institutional capabilities while maintaining its high-touch service model.

About Argent Financial Group

Argent Financial Group (Argent) is a leading, independent client asset services firm offering individuals, families, businesses, and institutions wealth management, asset management, and asset servicing. The firm is responsible for more than $180 billion in client assets. Formed in 1990 in Ruston, Louisiana, Argent can trace its roots back to 1930. For more information, visit www.ArgentFinancial.com. 

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SOURCE Argent Financial Group