The majority of asset managers have increased their resources dedicated to the bank trust channel, according to new research from Cerulli Associates.
According to Bing Waldert, director at Cerulli Associates, 50% of asset managers report substantially increasing bank trust channel resources in 2012, and another 30% report increasing resources moderately to slightly
“Bank trust departments are a hot topic among asset managers,” stated Waldert. “The channel represents a more than $2 trillion opportunity.”
The research also found that the bank channel is in the midst of evolving from closed architecture and heavy use of proprietary products to one that is more accepting of external managers. “Banks have adopted an open architecture approach, and their centralized due diligence teams carry the most influence over product placement,” Waldert said.