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Article: B of A Capital Management Eager to Grow Institutional.
- Article from:
- American Banker
- Article date:
- August 18, 2003
- Author:
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Banc of America Capital Management has managed to hold its assets under management steady at $24.5 billion for the past year despite difficult market conditions. Now it aims to grow.
"Bank of America is committed to developing a larger institutional business," said Jeff McCroy, the unit's managing director of institutional investment strategies. "Our $24 billion in assets under management is not enough. We are committed to more organic and strategic growth."
The unit is considering making acquisitions, forming partnerships with outside firms, and adding staff to develop more products for institutional customers, Mr. McCroy said. The parent, Bank of America Corp. in ...