Brokerage units carried the day for many bank wealth management businesses in the first quarter as their trust units languished.
Take Atlanta-based SunTrust Banks. In the first quarter of 2014, the banks retail investment services generated $71 million in revenue, up 16.4% year-over-year. In contrast, trust and investment management services, while generating nearly twice as much in first-quarter revenue ($130 million), was up just 5%.
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