Barclays PLC has reached a deal to acquire ABN AMRO for $102.1 billion, which will create the world’s largest institutional asset manager.

The combined company will be called Barclays PLC.

“Barclays Global Investors’ world leading index-based, exchange traded fund and quantitative active capabilities will be complemented by ABN AMRO’s active fundamental based capabilities,” the companies said in a statement.

As part of the deal, ABN AMRO has agreed to sell LaSalle Bank—its retail banking operations in the United States—to Bank of America for $23.6 billion.

The acquisition of ABN AMRO by Barclays is expected to close in the fourth quarter of the year.

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