JPMorgan Fleming Asset Management and BNY Asset Management today reported gains in assets under management for the third quarter. JPMorgan Fleming's AUM increased by $165 billion to $735 billion as of Sept. 30, primarily because of the addition of Banc One Investment Advisors' assets following the merger of JPMorgan Chase & Co. and Bank One, which closed on July 1, said Mary Sedarat, JPMorgan Fleming spokeswoman. She declined to provide further information. JPMorgan Chase's operating earnings were $2.2 billion for the third quarter, compared with $1.81 billion or 85 cents in the previous quarter.
BNY Asset Management reported AUM of $97 billion for the third quarter, up from $93 billion as of June 30, said R. Jeep Bryant, spokesman. Parent company Bank of New York reported third-quarter net income of $354 million, compared with $371 million for the second quarter, according to a company statement.
