Merrill Lynch & Co. Inc. will buy back as much as $6 billion in shares of common stock over time, in an effort to return capital building up on its balance sheet to investors, the company announced today.
Morgan Stanley has announced that David H. Sidwell, executive vice president and chief financial officer, will retire from the company at the end of the year.
Citigroup Inc. is looking to connect with its clients in a new ad campaign.
Morgan Stanley Investment Management has launched the Morgan Stanley Emerging Markets Domestic Debt Fund Inc., the first U.S. registered closed-end fund to invest principally in emerging markets sovereign debt denominated in the local currency of the issuer.
RBC Capital Markets has announced that it agreed to acquire Seasongood & Mayer LLC, a Cincinnati-based public finance firm and underwriter of municipal debt.
Thousands of protesters – some bearing signs asking “Is your Fidelity 401(k) funding genocide?” -- gathered in Boston’s Government Center Sunday to protest Fidelity’s investment ties to Sudan.
Bank of America Corp. has threatened to take legal action against ABN Amro Holding NV should it make any attempt to block its plans to buy LaSalle Bank Corp., ABN's Chicago-based subsidiary, according to the Financial Times.
Universal life insurance captured a 40% share of the overall life insurance market for the first time last year and is expected to continue its strong showing, industry experts say.
Increasingly popular target date funds may be missing the mark because they are too narrowly constructed and make incorrect assumptions about participant behavior, according to industry insiders and new research.
The financial advice business has perhaps never been so rife with opportunities for educated newcomers — a scenario that bodes particularly well for this spring’s crop of college graduates.
The booming wealth management business has spawned a thriving cottage industry: financial-literacy courses for wealthy families and their children.
A high-profile financial adviser who hosts a weekly financial-advice radio show has lost a $314,000 arbitration claim that focused on his failure to deliver promised investment management.
OTTAWA — While a bidding war goes on for BCE Inc., InvestmentNews learned last Tuesday that the Montreal-based telecom giant is under investigation by Market Regulation Services Inc. for a misleading, possibly fraudulent, press release.
Helping Wall Street firms to look more like the American public they serve is the idea behind a new internship program designed for students who attend historically black colleges and universities.
With a $13.4 billion offer, Citigroup Inc. yesterday closed on the largest foreign takeover of a Japanese company, Nikko Cordial Corp., according to published reports.
The Hartford Financial Services Group Inc. announced today that earnings rose 20% in the first quarter to $876 million, from $728 million for the same period a year earlier.
New York-based TIAA-CREF has increased equity exposure on all seven of its lifecycle funds to 90% up from 80%, the company announced today.
Firstrade Securities got the top overall score in the latest survey of online brokerage firms conducted by Consumer Reports.
Oppenheimer Holdings Inc. today reported a net profit of $16,790,000 or $1.28 per share for the first quarter, a 2.5% decrease from $17,217,000, or $1.36 per share, in the same quarter in 2006, the company announced today.
Morgan Stanley & Co. Inc. today confirmed that chief executive John Mack, a registered Republican, has thrown his support behind Democratic New York Senator Hillary Rodham Clinton in the 2008 presidential election, according to published reports.