Industry News

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NEWS LIFE INSURANCE AND ANNUITIES JAN 05, 2010
Aviva grabs new CFO, Patrick Regan, from WIllis Group

Insurance broker Willis Group Holdings said Friday Chief Financial Officer and Group Chief Operating Officer Patrick Regan will leave the company early next year to become CFO of insurer Aviva PLC.

By Bloomberg
NEWS LIFE INSURANCE AND ANNUITIES JAN 05, 2010
Aviva to hit Wall Street, list on NYSE

Officials for Aviva PLC, the London-based insurer, today said it will become a listed company on the New York Stock Exchange on Oct. 20.

By Darla Mercado
NEWS LIFE INSURANCE AND ANNUITIES JAN 05, 2010
Aviva appoints Christopher J. Littlefield CEO

Christopher J. Littlefield has been named the chief executive of the insurance company Aviva USA.

By Darla Mercado
Delaware Management sold; is Columbia next to go?
NEWS INDUSTRY NEWS JAN 05, 2010
Delaware Management sold; is Columbia next to go?

One big deal is on the books — and another is in the process of being finalized — a sign that merger and acquisition activity continues to accelerate in the money management industry.

By Mark Bruno
NEWS INDUSTRY NEWS JAN 05, 2010
Lincoln sells Delaware Management to Macquarie, Columbia to Ameriprise next?

One big deal is in the books — and another is in the process of being finalized — a sign that merger and acquisition activity continues accelerate in the money management industry.

By Mark Bruno
NEWS RIAS JAN 04, 2010
Credit Suisse profit boosted by private banking, asset management

Credit Suisse Group posted a fourth-quarter net profit of 793 million Swiss francs ($746 million) on Thursday, blaming writedowns and a hefty U.S. legal settlement for failing to meet expectations.

By Associated Press
NEWS INDUSTRY NEWS JAN 04, 2010
Stock market's January slide a bad sign for 2010

The stock market's sudden downward pattern does not bode well for the rest of 2010, according an analysis of market history.

By Jeff Benjamin
NEWS INDUSTRY NEWS JAN 04, 2010
Stock prices surge on upbeat manufacturing news

The stock market jumped on the first trading day of the year following reports of stronger manufacturing activity around the world as well as a rise in oil prices.

By Associated Press
NEWS INDUSTRY NEWS JAN 04, 2010
Stock futures point to positive start for 2010

Stocks appear headed for a higher opening on the first day of trading in the new year following the lead of overseas markets. Stock futures are up.

By Associated Press
NEWS INDUSTRY NEWS JAN 04, 2010
Wells Fargo to impose 25% withholding tax rate across adviser network

By Bruce Kelly
NEWS INDUSTRY NEWS JAN 04, 2010
Avast ye! Somali pirates create exchange for stolen loot

Market forces work everywhere — even, it would seem, on the high seas. According to published reports, Somali pirates have created a stock exchange to manage their ill-gotten gains.

By Darla Mercado
NEWS RIAS JAN 04, 2010
Swiss unveil criteria for tax disclosure on private accounts

U.S. clients with more than 1 million Swiss Francs in offshore accounts with UBS could be ratted out.

By Associated Press
NEWS RIAS JAN 03, 2010
New Year's resolutions we'd like to see

Here are some solutions for 2010 that we hope our politicians, regulators and financial wizards have made.

By MFXFeeder
NEWS INDUSTRY NEWS JAN 03, 2010
U.S. Chamber of Commerce stance on climate change is all wet

As world leaders at the Copenhagen summit moved to chart a global strategy on climate change, the U.S. Congress was readying itself to take up cap-and-trade legislation to reduce carbon emissions here at home.

By Joseph F. Keefe
NEWS IRA ALERT JAN 03, 2010
Roth IRA can affect homebuyer credit

The latest version of the tax credit for first-time homebuyers has two new features that may make the credit more widely available, which means more clients with Roth conversion income may be affected.

By Ed Slott
NEWS INDUSTRY NEWS JAN 03, 2010
Practice management services seen as best way custodians can win RIAs

Broker-dealers that hold client assets for registered investment advisers are pointing their marketing and technology arrows at practice management.

By Jed Horowitz
NEWS RETIREMENT PLANNING JAN 03, 2010
Remembering a life of passion

If there is one word to describe Donald Robert Pitti, the financial planning pioneer who died Dec. 18 at the age of 80, it would be “enthusiasm.”

By Hilary Johnson
NEWS INDUSTRY NEWS JAN 03, 2010
Texas adviser used former NFL players to promote scheme, the SEC charges

An investment adviser has been charged with defrauding investors in a scheme that used former National Football League players to promote offerings in an insurance company.

By Sara Hansard And Jed Horowitz
NEWS INDUSTRY NEWS DEC 31, 2009
China moves to cool off economy

China's lavish bank lending spurred a recovery but also pumped up markets as speculators scooped up stocks and property and even dabbled in garlic, dried chilli peppers and luxury Pu'er tea.

By Bloomberg
NEWS RETIREMENT PLANNING DEC 30, 2009
Adviser who led double life gets 17 years for $20M fraud

A judge in Massachusetts throws the book at an adviser who swindled the heirs of gilded-age industrialist Frederick Ayer, Jr.

By InvestmentNews Staff