Less than a week after Citigroup Inc. agreed to purchase Old Lane LP and tap Vikram Pandit, its founder, to become head of Citi Alternative Investments, Citigroup’s Dean Barr has resigned as head of liquid markets.
Fidelity Investments’ vice chairman and chief operating officer, Robert Reynolds, announced his retirement today and Ellyn McColgan was named president of distribution and operations.
Bank of America Corp. recorded a 5% increase in first quarter net income, as fee income rose despite a challenging credit environment.
E*Trade Financial reported a 19% increase in first quarter profit on growth in client assets.
Nasdaq Stock Market Inc. posted a disappointing 1.7% increase in first quarter net income due to charges related to its failed bid to acquire the London Stock Exchange.
BlackRock Inc. posted a whopping 176% jump in first-quarter net income as demand for its products has improved following its merger with Merrill Lynch & Co. Inc.'s asset management unit last year.
Lehman Brothers Holdings Inc. has appointed Kunho Cho as its first Asia-based vice chairman, according to published reports.
Victoria Bay Asset Management LLC of Alameda, Calif, announced today the launch of the United States Natural Gas Fund LP (UNG), an exchange-traded security based on natural gas.
JPMorgan Chase & Co. posted a 55% increase in quarterly earnings, energized by gains in its investment banking and asset management businesses.
Amvescap PLC chief executive Martin Flanagan's 2006 pay package was less than half of his compensation in 2005, according to a Financial News report.
