For example, a $70 billion chunk of Prudential's asset management business earned only $7 million last year.
The merger will create a combined asset management business of more than $270 billion.
The asset management business made up about 1 percent of Citigroup's earnings.
It now gets more than half its revenue from its asset management business.
Its asset management business was also a key factor; revenues there gained 21 percent over the second quarter of 1991.
The asset management business also showed steady revenue and profit growth.
The asset management business is based purely on investing in sustainable companies.
Net income from the firm's asset management business rose 62 percent, to $199 million.
Its global asset management business managed £63 billion on behalf of institutional and private investors around the world.
"Bank of America is fully committed to being a leader in the asset management business," she said.
For example, a $70 billion chunk of Prudential's asset management business earned only $7 million last year.
The merger will create a combined asset management business of more than $270 billion.
The asset management business made up about 1 percent of Citigroup's earnings.
It now gets more than half its revenue from its asset management business.
Its asset management business was also a key factor; revenues there gained 21 percent over the second quarter of 1991.
The asset management business also showed steady revenue and profit growth.
The asset management business is based purely on investing in sustainable companies.
Net income from the firm's asset management business rose 62 percent, to $199 million.
Its global asset management business managed £63 billion on behalf of institutional and private investors around the world.
"Bank of America is fully committed to being a leader in the asset management business," she said.
