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Article: Bank of New York Mellon Tops List of Bank Wealth Managers
- Article from:
- U.S. Newswire
- Article date:
- September 17, 2009
CopyrightCopyright 2009 U.S. Newswire. Provided by ProQuest LLC. (Hide copyright information)
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To: BUSINESS EDITORS
Contact: Andrew Singer, +1-914-381-7475, a.singer@singepubs.com
MAMARONECK, N.Y., Sept. 17 /PRNewswire/ -- The Great Recession
overshadowed all business news in 2008 and early 2009, and bank
wealth management (WM) was no exception.
Among the 60 banks featured in the 2009 edition of Who's Who in
Bank Wealth Management, published this week by the Bank Insurance
Market Research Group, only 9 percent increased assets under
management (AUM) in 2008. Median AUM declined 17 percent in fiscal
2008 among banks in this study.
The leader in AUM growth, Wisconsin's Marshall & Ilsley Corp.,
boosted AUM 18 percent, but it did so primarily through acquisitions
of registered ...