Asset management

From AI to ROI — Using artificial intelligence to grow client relationships

The bank's head of investment management said Wednesday that his unit has eliminated dozens of high-cost funds over the last two years and replaced them with more passive and enhanced actively managed funds.

Venu Krishnamurthy is joining the asset management giant at a time when it is reorganizing itself and tinkering with product offerings to ward off fintechs and other challengers.

The bank, in conjunction with iCapital Network, is slashing requirements to participate in certain alternative investments that it once offered mainly to institutions or the ultrarich.

The technology platform powerhouse is betting on integration, but competitors eye disruption.

The $65 million-asset credit union earned the 2018 Growth and Progress Award from the Credit Union Association of the Dakotas for exceeding the state's average across a variety of growth metrics.

The Chicago custody bank also benefited from a recent acquisition of a UBS business in Europe and the lower federal income tax rate.

While some key indicators dropped in the year ending Dec. 31, 2017, credit unions in many states continue to thrive, with several new states jumping to the head of the pack for various growth measurements.

The Kansas City, Mo., company sold Marquette Asset Management, a business it gained as part of its purchase of Marquette Financial Cos., to the firm's principals.

The purchase will significantly increase Hancock's assets under management and administration.