Ally Investing, a leading asset management company, announced on Monday that it is putting $200 million into the stock markets of the five largest banks.
The company’s announcement came as the banking industry has been rocked by the massive crisis in 2008 that saw the nation’s financial institutions collapse, and billions of dollars of taxpayer funds seized by regulators.
Ally invested in Merrill Lynch, Bank of America, Wells Fargo, JPMorgan Chase, Citigroup, and Ally Capital.
The bank is expected to raise its stake in Ally in the next few weeks.
Ally is the largest Ally investor in the banking sector, having raised more than $1.2 billion over the past decade.
The investment comes as Ally has been forced to take a $2.5 billion write-down of $3.6 billion of loans to support its customers after the crisis.