(Bloomberg) -- Money managers’ profits in North America last year surpassed pre-crisis levels, rebounding to $34 billion on asset and revenue growth, according to a study by McKinsey & Co.

Profits were 18% above the pre-crisis peak in 2007 after assets reached $30 trillion, the New York-based management-consulting firm said today in a report. Profits at asset managers globally also moved past 2007 levels, increasing 15% to $65 billion from 2007. Assets reached a record $64 trillion last year.

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