A year after taking over retail at Morgan Stanley — amid much skepticism — James Gorman has made believers out of most of the firm’s troops.
Citigroup Inc. is in talks to purchase Old Lane LP, a hedge fund run by former Morgan Stanley executive Vikram Pandit for more than $600 million, according to a Wall Street Journal report.
Abolishing the role of mutual fund boards of directors in approving advisory expense ratios would lead to more competition in mutual fund fees, according to a book released in Washington today.
IntercontinentalExchange Inc. will open a trading center in New York's World Financial Center on April 12 to serve qualified professional traders.
Including annuities in 401(k) plans could represent a prime opportunity for advisers — if a new model for compensation can be devised and if advisers are allowed on-site to explain their product to employees, according to industry experts.
The Greenwich Global Hedge Fund Index rose 0.98% in March, bringing year-to-date returns to 2.82%, according to a preliminary report released today by Greenwich Alternative Investments LLC.
The National Futures Association suspended Christ Investment Service LLC, a San Francisco-based introducing broker, for allegedly illegally acting as a futures commission merchant and as a counterparty to foreign currency transactions, according to the association.
Nasdaq Stock Market Inc. has teamed with BetterInvesting, a nonprofit investment education organization, to launch the BetterInvesting 100 Index, a listing of the top growth companies that the group's 13,127 investment clubs and 131,556 individual members hold.
CIT Group Inc. said Monday that it placed three top executives at its Student Loan Xpress unit on leave just days after the companies were subpoenaed by New York state Attorney General Andrew Cuomo in his ongoing probe of the $85 billion student loan industry.
Fee income from variable and fixed annuities, and mutual funds, sold by banks declined by 0.6% last year to $19.33 billion, from $19.46 billion in 2005, according to a recent study.
