Union Bank of California’s wealth management business has not been able to increase its assets under management over the past three years.
But you wouldn’t know it from the unit’s overall growth. Revenue and profits from wealth management—which includes private banking, trust, special assets management, private wealth planning and investments —were both up double digits last year and are on track to grow at least that much in 2010, according to Mary Curran, executive vice president of the wealth management group at Union Bank.
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