Concerns about supply disruptions and tension in the Middle East sent crude oil prices to a new record in early morning trading.
The model aims to create an industry standard to streamline the process of selling VA contracts and simplify compliance.
Ted Mathas' promotion makes him the New York-based company’s 18th CEO in its 163-year history.
Bank holding company income from mutual funds and annuities rose more than 27% to $5.92 billion in the first quarter.
Hypothetical returns utilized by a host of new exchange traded funds are reigniting a debate about the use of back-tested performance data.
"The cushion provided by well-covered dividend yields has taken on increased importance," a JPMorgan analyst wrote.
More than two years after its creation, the Roth 401(k) is finally gaining traction in company plans, such as those managed by The Hartford (Conn.) Financial Services Group Inc., The Vanguard Group Inc. and Merrill Lynch Retirement Group.
Merrill Lynch is leading the charge as top U.S. wealth managers increasingly seek to grow their businesses by expanding overseas.
The combined total launches last year of exchange traded funds, variable annuities and closed-end funds surpassed open-end mutual fund launches for the first time, according to Boston-based research firm Cerulli Associates Inc.
The nation's stock exchanges and a major trading platform have entered into new arrangements with Google and Yahoo to provide last-sale trade data at no cost to online users.
