What is the role of Asset Management in a Bank?

There is a business called “asset management,” which consists of investing money for clients. Many large banks have affiliated asset management companies, such as JPMorgan Asset Management or Goldman Sachs Asset Management. There are also large asset management companies like Vanguard and Blackrock (although these two and the other big ones also have affiliated banks). If this is what you mean, they have no direct role in the bank, they are just different financial businesses owned by the same holding company.