31. Dresdner Bank AG said it will acquire a majority stake in RCM Capital Management from Travelers Group Inc., its first major inroad into the U.S. asset management business. 32. During a recent wave of global consolidation in the asset management business, Stilwell has remained quiet. 33. Fidelity Investments is making a push to build its money management business for state and local governments. 34. Financial giants like Union Bank of Switzerland have said they want to increase their presence in the fast-growing U.S. money management business. 35. First Union is a big player in the banking business with an expressed desire to become a big player in the money management business. 36. Fifth Third Bancorp agreed to buy Ohio Co. for an undisclosed amount, as the bank expands its asset management business and begins equity and debt underwriting. 37. First Union Corp. and SunTrust Banks Inc. plan to increase their asset management businesses, possibly through acquisitions, said spokespeople for both Southeastern banks. 38. First Union Corp. said it created a group to focus on building its institutional money management business. 39. For its part, Citigroup hopes the venture will put some fire into its lagging asset management business and give it better access to big retirement-plan customers. 40. Foreign banks have been expanding into the asset management business in search of more stable earnings. |