Bank wealth management businesses enjoyed a blow-out first quarter, according to the latest Sorrento-Pacific Michael White Bank Wealth Management Report released this week.
Bank holding companies reeled in $36.35 billion in first-quarter wealth management revenue, up 4% year-over-year. It was the most wealth management revenue banks have generated in any first-quarter period since the data started to be tracked in 2007. Revenue, however, was flat from the record-setting $36.38 billion in the prior quarter.
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