Lehman Brothers Holdings today announced record profit levels during the second quarter.
The Hartford Financial Services Group Inc. has tapped Thomas M. Marra to take on the combined position of president and chief operating officer.
The hedge fund industry is at risk of being lulled into a false sense of security that could expose the broader financial markets to additional risks, according to Anthony Ryan, assistant secretary of the Treasury for financial markets.
Merrill Lynch, Morgan Stanley, Smith Barney and Charles Schwab are being sued for allegedly illegally forcing clients into lower paying deposit accounts, enabling the firms to reap “billions” in extra profits.
More insurers are offering riders that include long-term-care coverage in life insurance policies.
The SEC plans to decide by the end of the year whether to reform 12(b)-1 fees or eliminate them altogether, and proponents of both alternatives are poised to try swaying its decision.
Wachovia Corp.’s planned $6.8 billion purchase of A.G. Edwards Inc. could make an already competitive sales game even tougher for U.S. mutual fund firms, some analysts said.
In an effort to catch industry leader Barclays Global Investors, State Street Global Advisors has raised the wholesalers’ compensation for effecting the sale of exchange traded funds and lowered the amount it pays for effecting sales of its mutual funds and separately managed accounts.
Wachovia Corp. last week put the finishing touches on its retention package for brokers with A.G. Edwards Inc., and the company plans to announce details as early as today or as late as Wednesday.
The IRS has put a damper on a tax saving strategy that has been used by some investors with fee-based accounts.
