WASHINGTON — Financial advice professionals who routinely log 60-hour workweeks may be spinning their wheels, a new report suggests.
Another top executive has walked away from the Pacific Select Group LLC, the soon-to-be-dismantled broker-dealer network of Pacific Life Insurance Co. of Newport Beach, Calif.
Charles Schwab Corp. has reduced account opening minimums for all of its main brokerage and retirement accounts and eliminated minimums for many others, the firm announced today.
JPMorgan Chase & Co. chief executive T. Timothy Ryan has withdrawn himself from consideration to be the Department of the Treasury's top international policy adviser, according to published reports.
E*Trade Financial reported a 19% increase in first quarter profit on growth in client assets.
Less than a week after Citigroup Inc. agreed to purchase Old Lane LP and tap Vikram Pandit, its founder, to become head of Citi Alternative Investments, Citigroup’s Dean Barr has resigned as head of liquid markets.
BlackRock Inc. posted a whopping 176% jump in first-quarter net income as demand for its products has improved following its merger with Merrill Lynch & Co. Inc.'s asset management unit last year.
Merrill Lynch & Co. Inc.'s first-quarter profits increased 31% from a year ago, when it took a charge related to its acquisition of BlackRock Inc. the company reported today.
Fidelity Investments’ vice chairman and chief operating officer, Robert Reynolds, announced his retirement today and Ellyn McColgan was named president of distribution and operations.
Bank of America Corp. recorded a 5% increase in first quarter net income, as fee income rose despite a challenging credit environment.
Lehman Brothers Holdings Inc. has appointed Kunho Cho as its first Asia-based vice chairman, according to published reports.
Knight Capital Group Inc. posted a 35% drop in first-quarter profits on lower revenues and a loss from discontinued operations, falling short of analysts estimates.
Amvescap PLC chief executive Martin Flanagan's 2006 pay package was less than half of his compensation in 2005, according to a Financial News report.
JPMorgan Chase & Co. posted a 55% increase in quarterly earnings, energized by gains in its investment banking and asset management businesses.
Morgan Stanley has hired Blair Pickerell as its managing director and head of investment management for Asia, according to published reports.
Charles Schwab Corp. posted a 12% increase in net income for the first quarter, as new customers increased assets in client accounts.
State Street Corp. posted an 11% increase in net income on stronger servicing and investment management fees, which boosted revenue to a record level.
Mellon Financial Corp. reported a 22% increase in first-quarter profit after an acquisition helped boost its assets over the $1 trillion mark.
Wachovia Corp. shareholders have approved two proposals by the company's board that will affect how directors are elected and how often.
Jefferies Group Inc. announced record quarterly investment banking revenues, net revenues, net earnings, and earnings per share, according to a statement released today.
