European services giant ING Groep NV said Monday it will split itself in two, spinning off its insurance arm to simplify its business and issuing €7.5 billion ($11.3 billion) in new shares to repay state bailout money.
ING Investment Management could go up for sale as part of parent ING Group's divestiture of its insurance business, according to ING spokesman Raymond Vermeulen.
Former Merrill Lynch & Co. broker Steven Mandala, who was charged with stealing $780,000 from the firm, partly to buy a Ferrari, pleaded guilty to grand larceny and identity theft, his lawyer said.
Former Northrop Grumman exec Charles H. Noski succeeds Joe Price, head of BofA's consumer and small business banking division.
'Wall Street was just lying their heads off to us,' says economist and former quiz show star
With the addition of David Perez, the Milwaukee-based Baird has now added 24 producers in a little more than three months. More coming?
Queen of Suspense purchases a seat on the Chicago Board Options Exchange for nearly $3M
The amount of toxic debt held by banks may be declining. But as the closure of four banks over the weekend showed, bad loans are still rippling through the financial system.
Clyde Wyatt managed his father's money for about 18 months before he was abruptly dumped for another adviser: His own son Chris.
The N.Y. AG scoffs at the former AIG boss' claim he knew nothing about sham transactions between the insurer and Gen Re
As the defined-contribution industry braces for new fee disclosure regulations, some corporate 401(k) plans — including Nestlé USA Inc. and United Parcel Service Inc. — are light-years ahead of the pack in providing participants with fee information.
Low interest rates and low contribution limits mean retirees can only count on health savings accounts to cover a portion of their health care costs
Financial advisers had hoped to begin this year with new momentum — the ability to swap clients out of existing annuities or insurance in exchange for long-term-care coverage — but broker-dealers have hit the brakes, citing problems with large amounts of paperwork to process the business, among other troubles.
Members of the life insurance and annuities industries have asked senators to rethink a portion of the health care bill that would hit annuity income with Medicare taxes.
Bernie Madoff is serving 150 years in prison for a multibillion-dollar fraud. Norman Schmidt got 330 years for his role in a huge investment scam. And then there's white-collar criminal Sholam Weiss, who isn't due for release until November 2754.
The CLASS Act, which sets up a government-run insurance program, survived the tortuous health-care debate in Congress. But experts can't predict how — or if — the controversial program will work
The following is an investment strategy column by Jeffrey D. Saut, managing director at Raymond James & Associates Inc.
Just 28% of those surveyed knew that the market was up last year, while another 6% were unable to say whether the stock market was up, down or flat.
Longtime Merrill Lynch adviser Shele Danishefsky Covlin was issued an order of protection against her estranged husband just days after filing for divorce
Thinking of starting your own practice, re-locating, or opening up another office? Before you set up shop, here's the rundown on the most expensive cities in the country for office space.
