Conseco, Inc. in Carmel, Ind. today reported $14.6 in net operating income for the first quarter of 2007, down from $55.8 million for the same period a year ago.
Legg Mason Inc. posted a 15% increase in net income as increased advisory fees drove assets under management to record levels.
Fortress Investment Group LLC has announced that it will buy Florida East Coast Industries Inc. in a deal valuing the Jacksonville, Fla.-based real estate developer at $3.5 billion.
Fidelity Investments, in cooperation with Oracle Corp. and Emerging Information Systems Inc., has created two web-based customer relationship management and financial planning systems for registered investment advisers, the Boston-based firm announced today.
Van Eck Global launched the Market Vectors-Global Alternative Energy Exchange Traded Fund on the New York Stock Exchange today.
As part of effort to spiff up its fee business, the ING Advisors broker-dealers have cut fees that their advisers pay for two key advisory offerings.
Marsh & McLennan Cos. today reported that first-quarter income declined by 36% to $268 million, compared to $416 million for the same period a year ago.
NASD announced today that it has fined two Fidelity Investments broker-dealers $400,000 for preparing and distributing misleading sales literature promoting plans that were sold primarily to U.S. military personnel.
Lazard Ltd. Today posted a 4.9% increase in first quarter revenues on growing asset management fee income and record inflows, but fell short of analysts expectations.
Despite a solid showing in April, hedge funds still fell well short of the returns of the domestic equity markets, according to the latest data from Greenwich Alternative Investments LLC in Greenwich, Conn.
