Bank of America Corp., the second-largest U.S. lender, attracted record new assets last year to its unit servicing retirement and other employee-benefit plans as it cross-sold products through the commercial bank.
The company saw $24.3 billion in new assets, a 28 percent increase from a year earlier, said Kevin Crain, head of institutional retirement and benefit services at Bank of America Merrill Lynch. Assets from clients who had an existing relationship with the global commercial bank more than doubled to $10.6 billion from $5 billion in 2011.
