Bank of New York said Thursday that it has combined its asset management services into one unit.

The new unit includes institutional client sales, investment research, and administration of the bank's proprietary funds, a spokesman said. The $64 billion-asset bank's trust and brokerage operations will remain separate.

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.