"It's because Mellon wants to focus on wealth management: asset management and trust accounts.
The firm showed progress in its three major divisions for the year, with annual net revenue and pretax income up in global wealth management, asset management and institutional securities - although the fixed-income piece took a hit.
UBS's flagship wealth management, asset management and private client businesses -- the Swiss group includes the world's largest private bank -- netted new money of 61.6 billion Swiss francs in 2003 compared with 36.9 billion francs in 2002, bringing total client assets managed by the UBS group to 2.2 trillion Swiss francs.
The Capital Market segment provides wealth management, asset management, investment banking and share brokerage services.
It also offers business fitness assessment and insurance investment management, asset management, employee benefits, risk management and capital market activities.
Risk management, asset management, and resource allocation must be approached from a holistic perspective without compromising specific regional needs.
The Process Automation division offers standalone products, engineered systems and services for process control and measurement, safety, plant electrification, information management, assets management and industry-specific applications for a variety of industries, primarily pulp and paper, metals, minerals and mining, chemical, oil and gas, marine, pharmaceuticals and the power industry.
The Investment banking and brokerage engages in investment management services and asset management activities related to dealing, managing, arranging, advising and custody of securities.
The Investment and brokerage segment engages in investment management, brokerage services and asset management activities related to dealing, managing, arranging, advising and custody of securities.
The Investment Banking and Brokerage segment includes investment management services and asset management activities related to dealing, managing, arranging, advising and custody of securities, retail investment products, corporate finance, and international and local shares brokerage services and insurance.
The Macquarie Funds Group segment is a global asset manager that offers a range of products including alternative asset management, securities investment management, and tailored investment solutions over funds and listed equities.
