Riggs Investment Management Corp. is celebrating the one-year anniversary of a restructuring that champions freedom for money managers.

Washington's Riggs National Corp. last year handed over the reins of its asset management firm, known as Rimco, to its money managers. The $4.8 billion-asset banking company is one of a handful of banks that have recently adopted this strategy, which observers say is an appropriate way for banks to approach the money management market.

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