CalFed Selling Unit: The Los Angeles thrift holding company said it will sell TSA Capital Management, its institutional investment management firm, to Mitchum, Jones & Templeton for an undisclosed amount. TSA manages about $2 billion in assets. CalFed said the sale will not have a material effect on its operations. TSA Capital Management is a subsidiary of Trust Services of America, the assests of which CalFed is selling to Northern Trust Corp.
From Times Staff and Wire Reports