National City Corp. is renaming its asset management business "to continue to solidify" it as a top-tier business and to "build on a strong foundation," said John G. Abunassar, executive vice president of institutional asset management. He said the decision to "rebrand" isn't an effort to distance it from National City's mortgage business and is not at all related to the mortgage business.
On June 13, National City Investment Management will become Allegiant Asset Management, National City Institutional Services will become Allegiant Institutional Services and the mutual funds will become the Allegiant Funds, Mr. Abunassar said.
National City's asset management business has about $30 billion in assets under management.
