Alliance Capital has scored two distribution coups, winning spots on the mutual fund preferred provider lists of First Union Corp. and KeyCorp.

The arrangements are important because they hook Alliance into powerful sales engines. Together with BankAmerica Corp., which recently put Alliance on its "A list," the institutions account for 19% of bank retail mutual fund sales, according to Kenneth Kehrer Associates, a consulting firm in Princeton, N.J.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.