Displaying 28259 results
ESL ups stake in Citigroup
An affiliate of Edward Lampert's ESL Investments Inc. hedge fund now owns 15.24 million shares of Citigroup Inc.
Energy boss leaves JPMorgan Chase
George "Beau" Taylor, JPMorgan Chase & Co.'s energy-trading head has quit to join the Credit Suisse Group, according to published reports.
LSE rides high after turbulent year
Rising trading volumes boosted the London exchange's fiscal-year operating profits by 55% to $367 million.
JPMorgan fund manager sacked
A senior fund manager at a joint venture between JPMorgan Asset Management and Shanghai International Trust & Investment Co. was dismissed yesterday because of suspected insider trading.
Merrill promotes two in private equity
Merrill Lynch & Co. Inc. has announced that it will expand its private equity efforts and promote two managers.
Fortress plunges 52% in first quarter
The first hedge fund to go public today posted a 52% drop in first-quarter net income.
HSBC takes first-quarter hit
Rising credit losses and lower trading results took a $35 million bite out of HSBC USA Inc.’s profits during the first quarter.
Fidelity unveils three Advisor funds
Fidelity Investments today added international real estate, Canada and small cap funds to their Advisor fund roster.
Euronext books record revenues
Euronext, a subsidiary of exchange operator NYSE Euronext, reported record quarterly revenues of $419.8 million, up from $364.5 million the prior year.
UBS exec moves to biz development
Tom Madsen, UBS Global Asset Management’s global head of equities, has stepped down from his post to take a business development role, according to published reports.
Bear Stearns writes off $225M for specialists
With floor traders at the New York Stock Exchange fast becoming obsolete, Bear Stearns Cos. Inc. said today that it would write down the value of its specialist business by $225 million, according to Crain's New York Business.
Schwab smiles on merger of rivals
Charles “Chuck” Schwab again dismissed speculation that his company might acquire TD Ameritrade Holding Corp. or E*TRADE Financial Corp. by suggesting the two rivals might form a good union themselves, according to press reports.
Fidelity adds to AMT tax-free funds
Fidelity Investments, the biggest U.S. mutual fund company, today announced the launch of two new share classes of Fidelity California, Massachusetts, New Jersey and New York AMT Tax-Free Money Market Funds.
Hancock swells portfolio strategies
John Hancock announced today that it is expanding its lifestyle portfolio strategies to include new emerging markets, mid-cap and small-cap values into the funds.
SIFMA defends mandatory-arbitration system
NEW YORK — As some U.S. senators find fault with the arbitration system that resolves client disputes with broker-dealers, the brokerage industry’s largest trade group is defending the process.
Advisers, clients ignoring disability risk, experts say
NEW YORK — Financial advisers and their clients aren’t giving the risk of becoming disabled the attention it deserves, according to disability insurance experts.
Atkins estate battle offers advisers lessons
The widely publicized dispute between diet guru Robert Atkins’ widow and the trustees of her trust is a cautionary tale for financial advisers and their clients about what can happen in estate cases, observers say.
LPL is said to play hardball
LPL Financial Services is playing hardball. Officials at the firm reportedly made it clear to competitor National Planning Holdings Inc. that it needs to step away from recruiting registered representatives from Pacific Life Insurance Co. or it will face consequences.
LPL advisers are raising fees
Financial advisers across the country who use Linsco/Private Ledger Corp. as their broker-dealer are raising prices, mostly for new clients.
Longevity plagues financial planning
“Four score and seven years” may soon be more recognizable as the typical baby boomer life span than the start of a famous speech.
