Updated Sunday, August 2, 2015 as of 2:27 PM ET

Banks Rediscover Lures of Money Management

“Being in the cyclical business we’re in, there will never be a normalized proportion between asset management, investment banking and sales and trading,” Goldman Sachs President Gary Cohn said at an industry conference in May. “We have continued to really allocate or over-allocate resources into the banking business, into the asset-management business, understanding that those are our businesses that take a lot less equity capital.”

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