US bank Wells Fargo has agreed to buy the employee benefit trust business of Chicago-based LaSalle Bank, part of ABN Amro, the second US sale in as many weeks by the Dutch bank.

The deal, which is expected to close by the end of May, includes LaSalle's 350 employee benefit plans with $12.4bn (€10bn) in assets. Financial terms were not disclosed.

Jennifer McCandless in New York

Wells Fargo

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ABN Amro unloads part of LaSalle

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