ABN AMRO Asset Management (USA) and LaSalle Banks Trust and Asset Management have been combined, according to a memo by Harry Tempest, chairman of ABN AMROs North American operations. ABN AMRO Asset Management has about $8.5 billion under management, and LaSalle runs close to the same amount; both are owned by the Dutch bank ABN AMRO.
The "integrated organizations will report to Jim Wynsma, vice chairman of LaSalle Banks, the memo said. Tim Leach, CEO of ABN AMRO Asset Management, said that he has resigned for personal reasons. He added that he is returning Wells Fargo as executive vice president and CIO of its private clients services group. Messrs. Tempest and Wynsma werent available to comment.