Ed Skyler, the bank's global head of public affairs, says a newly established $150 million fund will make equity investments in firms seen as having a positive impact on society.
Only 15% of bank customers at Bank of America use its online investment platform, but the company expects that figure to increase as it opens branches in nine major cities.
Mariner Kemper, UMB's chief executive, said he struggled with the decision to sell Scout Investments to Raymond James. Selling made more sense than pumping more capital into the beleaguered business.
