PNC Bank's brokerage business delivered a strong fourth quarter, while its asset management group turned in a mixed performance, according to the company's latest financial results released Friday.
The bank's asset management group, which includes personal wealth management for high-net-worth and ultra-high-net-worth clients, generated $376 million in fourth-quarter revenue, down by $35 million, or 9%, from the previous quarter but up 3% year-over-year. For the full year, the asset management group brought in $1.5 billion, a 13% jump from $1.3 billion in 2013.
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