H & R Block announced today that it will sell its Option One Mortgage Corp. unit to private equity firm Cerberus Capital Management LP.
Online brokerage firm optionsXpress Holdings Inc. reported an 18% increase in first quarter profit, helped out by an increase in new accounts, but fell short of Wall Street expectations.
Another top executive has walked away from the Pacific Select Group LLC, the soon-to-be-dismantled broker-dealer network of Pacific Life Insurance Co. of Newport Beach, Calif.
JPMorgan Chase & Co. chief executive T. Timothy Ryan has withdrawn himself from consideration to be the Department of the Treasury's top international policy adviser, according to published reports.
Nuveen Investments Inc. has agreed to acquire HydePark Investment Strategies, a specialist in enhanced equity investment management.
Charles Schwab Corp. has reduced account opening minimums for all of its main brokerage and retirement accounts and eliminated minimums for many others, the firm announced today.
Jackson National Life Insurance Co. today reported total sales of nearly $3.5 billion in the first quarter, up 21% from the same period a year ago.
Bank of America Corp. recorded a 5% increase in first quarter net income, as fee income rose despite a challenging credit environment.
The 100 largest hedge funds now control about 70% of hedge fund money, up almost 20% from 2003, according to Morgan Stanley's prime-brokerage unit, says a Wall Street Journal report.
Merrill Lynch & Co. Inc.'s first-quarter profits increased 31% from a year ago, when it took a charge related to its acquisition of BlackRock Inc. the company reported today.
