PNC Financial Services Group Inc. (NYSE: PNC) has acquired New York-based Solebury Capital, a 27-person boutique advisory firm.

The acquisition was announced at a time when initial public offerings are picking up steamand investment banks explore new ways to generate revenue. It also coincides with what observers believe to be a hot IPO market, especially after the $25 billion offering of Alibaba Group Holding Ltd. (NYSE: BABA).

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