PNC Bank's asset management business posted a difficult second quarter, according to the bank's latest financial results released on Friday.
PNC's asset management group, which provides personal wealth management for high-net-worth and ultrahigh-net-worth clients, generated $377 million in second-quarter revenue, down 9.4% year-over-year. Revenue was also off for the first six months of 2016, dipping 9.3% to $718 million from $792 million a year ago.
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