First Republic Bank (NYSE:FRC) is going to replace SCANA Corporation (NYSE:SCG) in the S&P 500 index, as announced on Spindices.com website earlier.
S&P 500 constituent Dominion Energy (NYSE:D) is acquiring SCANA Corporation in a deal expected to be completed soon pending final conditions. The replacement is expected to happen prior to the open of trading on Wednesday, January 2, 2019
First Republic offers private banking, private business banking and private wealth management, including investment, trust and brokerage services. Headquartered in San Francisco, CA, the company will be added to the S&P 500 Global Industry Classification Standard (GICS) Regional Banks Sub-Industry index.
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