Deals and Moves October 27

Hertz withdraws offer; Pershing adds trust networks; Modern leadership.

Hertz withdraws offer; Pershing adds trust networks; Modern leadership.

North

Hertz Global Holdings Inc. announced Thursday it is withdrawing its exchange offer for all outstanding shares of Dollar Thrifty Automotive Group Inc. Hertz, in Park Ridge, withdrew its offer in light of Dollar Thrifty’s share-repurchase program, as well as current market conditions.

Pershing LLC, a BNY Mellon company based in Jersey City, announced Wednesday it has acquired Comerica Bank & Trust and New York Private Trust Co.

Central

Munich Re announced Wednesday the appointment of Manny Rios as president and CEO of American Modern Insurance Group Inc., effective Nov. 7. American Modern was acquired by Princeton-based Munich Re as part of its purchase of The Midland Co. in 2008.

Strategic Storage Trust Inc. announced Wednesday it recently purchased a 630-unit self-storage property in Toms River for approximately $5.7 million. SSTI’s New Jersey self-storage portfolio now includes five facilities totaling approximately 4,200 units.