US clients desert BoI asset management

Key clients in North America continued to desert Bank of Ireland’s struggling asset management arm in the final quarter of 2005.

18th February, 2006

Key clients in North America continued to desert Bank of Ireland’s struggling asset management arm in the final quarter of 2005.

Bank of Ireland Asset Management (BIAM) said funds under management on behalf of American and Canadian investment funds slumped to €6 billion at the end of December - a 75 per cent fall from the €23 billion peak recorded less than two years ago. These clients withdrew around €500million over the last three...

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