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Banyan Announces New Affiliation

The owners of Banyan Consulting have recently entered into an acquisition agreement with First Niagara Risk Management.

First Niagara Risk Management is a wholly owned subsidiary of Buffalo, NY based First Niagara Bank. First Niagara Bank has 257 branches across New York and Pennsylvania with over 4,000 employees. The Bank has a regional market center office in Pittsburgh and 59 branches throughout Western Pennsylvania. Within the Commonwealth, the Bank has nearly 1,500 employees.

According to Business Insurance magazine, First Niagara Risk Management’s $43.9 million in 2009 brokerage revenues generated by U.S.-based clients made it the nation’s 50th largest broker and the ninth-largest bank-owned insurance agency in the country.

The owners have signed long term agreements with First Niagara Risk Management and will remain on as the Banyan leadership. Banyan Consulting will continue to operate with the same Banyan team, out of the same Banyan offices, and with its same Banyan dedication to client satisfaction.

www.fnfg.com

Press Release