Firstar Corp. this week consolidated its three mutual fund families into a single family called Firstar Funds.
The Milwaukee banking company had accumulated the three proprietary fund groups through its deal for Mercantile Bancorp of St. Louis in 1999 and its 1998 merger with Star Banc Corp. of Cincinnati.
Bruce R. Laning, who heads the funds unit, said the reorganization would let the company use one marketing strategy for all its portfolios.
"With our sales staff already cross-selling, it really just makes sense to have one fund lineup," said Mr. Laning, who is president and chief executive officer of Firstar Investment Research and Management Co.
The new fund family has 36 proprietary portfolios, with $17 billion of assets under management. The consolidation incorporates mutual funds from the former Firstar Select, Firstar Stellar, and Mercantile families.
Mr. Laning said no staff cuts are planned. Firstar has 280 financial consultants in 1,200 branches across 13 states.