Parent of Pershing and Dreyfus cuts dividend to nine cents a share from 24 cents, to save $700M a year.
Executives at The Botsford Group are aiming to capitalize on the downturn in the markets, and the disruption it's caused in the financial advisory industry, by aggressively acquiring and hiring advisers in the coming months.
A critique of state regulatory missteps from The Allstate Corp.’s Tom Wilson, did not sit well with Michael T. McRaith, director of the Illinois Division of Insurance.
Jefferies Group Inc. swung to a first-quarter profit, beating Wall Street expectations, as the middle-market investment bank reported strong trading revenue growth.
The Phoenix Cos. walked away from TARP assistance after a bank it was hoping to acquire failed and was seized by the Federal Deposit Insurance Corp.
Banking company KeyCorp is reporting another big quarterly loss, partly due to a large increase in its set-asides for loan losses, and plans to cut its dividend.
The registered investment advisory firm has changed its corporate name to reflect its core focus.
Stocks are still sliding following a Conference Board report that its March index of leading economic indicators has fallen 0.3%.
European markets dipped today as investors booked profits from last week's gains, while Asian stocks edged higher as the Chinese premier's positive assessment of the world's third-largest economy helped soothe nerves ahead of key earnings reports from leading U.S. companies.
Bank of America Corp. warned of worsening loan default problems Monday even as it posted a first-quarter profit of $2.81 billion. Investors concerned about the banking industry's health sent financial stocks and the overall market sharply lower.
Mergers and acquisitions in the U.S. insurance industry lost value last year, while non-U.S. transactions plummeted, according to data from Conning Research and Consulting.
Insurance stocks have outperformed the overall market during the past four weeks, but financial advisers are reluctant to jump in.
Federal Reserve Board Chairman Ben Bernanke and his Fed colleagues must begin to address investors' concerns about inflation in more concrete terms than he did in his speech at Morehouse College in Atlanta last week.
A financial adviser to former Major League baseball player Mo Vaughn is claiming that he threatened and intimidated her after she tried to rein in his "insane spending habits."
Last week's layoffs and consolidation of key areas of operation at the three broker-dealers of the AIG Advisor Group only add to the confusion and uncertainty surrounding the network's future and the fate of its more than 6,000 representatives and financial advisers, sources said.
College may be a great place to learn about the investment business, but professionals could learn a thing or two from a group of 20 students at Houston's Rice University.
The Charles Schwab Corp. has scheduled a webcast Thursday to brief registered investment advisers on its revised plans to wind down custody of alternative investments.
