posted a smaller-than-expected drop in quarterly profit on Monday as strength in asset management fees softened the blow from a fall in its net interest revenue.
However, it is among various financial firms facing a drop in customer deposits as clients have been reallocating their cash to alternatives with better returns to make the most of a high-interest-rate environment. The Westlake, Texas-based company had said in August it would lay off staff and close or downsize some corporate offices as part of its cost-cutting plans.
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