(Reuters) - The purchase vaults the second-largest U.S. bank into a market-leading position in managing money for the rich, with some $265 billion of private banking assets under management.
Charlotte, North Carolina-based Bank of America has tried to curb defections since it announced the purchase in November, assuring clients of no changes in service. Among other things, it decided to call the combined private banking unit U.S. Trust, Bank of America Private Wealth Management, rather than substitute its own name, as it usually does in acquisitions.
Read more at Reuters.com Bonds News
Charlotte, North Carolina-based Bank of America has tried to curb defections since it announced the purchase in November, assuring clients of no changes in service. Among other things, it decided to call the combined private banking unit U.S. Trust, Bank of America Private Wealth Management, rather than substitute its own name, as it usually does in acquisitions.
Read more at Reuters.com Bonds News
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