Managing mutual funds remains a top priority among the largest banks - even though the business has yet to contribute much to the bottom line.

That was the clear message broadcast by Edward Crutchfield, chief executive of First Union Corp., in an interview with American Banker last week. Mr. Crutchfield said he would like to see his bank's $11 billion- asset mutual fund family grow to $100 billion by the year 2000.

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.