The board of New York Life Insurance has elected Frank Boccio to the position of executive vice president and CAO.
The Labor Department has turned down stable-value funds as a default investment in 401(k) retirement plans.
The Risk Group will be responsible for identifying, tracking and addressing key external market and industry trading developments.
Investors pumped $45.2 billion into the hedge fund industry during the third quarter, according to data from Hedge Fund Research.
Charles Rangel, chairman of the House Ways and Means Committee, has drafted a bill that would slash corporate income tax rates, The Wall Street Journal said.
National Planning Holdings Inc. has begun a program to hire and manage an in-house licensed and trained assistant.
BS AG remained the world’s largest money manager in terms of assets under management, with $2.45 trillion, to lead the Pensions & Investments/Watson Wyatt Worldwide ranking of the world’s 500 largest money managers in 2006.
The American Council of Life Insurers today elected Dennis R. Glass, president and CEO of Lincoln Financial Group, as its 2008 chairman.
Ladenburg Thalmann has acquired Investacorp, a B-D with close to 500 affiliated reps.
Dwindling assets and intense regulatory scrutiny continue to take their toll on mutual fund B shares, which at the current rate of attrition are likely to become nearly extinct inside five years.
