NationsBank formed a $125 billion asset management group divided into four teams: investment management, institutional trust, retirement services and consumer investments.
The investment management unit will be divided into three entities: NB Capital Management will handle multiproduct and balanced institutional relationships; Boatmen's Capital will serve as institutional bond manager and a unit not yet named will handle private client assets. Institutional master trust administration and securities lending will be housed under the institutional unit, to be called Boatmen's Trust. The retirement services unit will provide retirement products and services for individuals and businesses. The consumer investments team will oversee retail products.
Two other NationsBank money management units - TradeStreet Investment Associates and Gartmore Global Partners, a joint venture owned by NationsBank with Gartmore Investment Management - will remain separate.
