Jeff Raich, co-global head of mergers and acquisitions, is the latest high-ranking investment banker to leave UBS AG.
A group of banks led by the Royal Bank of Scotland Group has formally launched a $95.6 billion bid for ABN Amro Holding.
Inheriting a depleted recruiting staff, the new head of National Planning Corp. immediately will focus on rebuilding that team. Last Monday, Santa Monica, Calif.-based NPC said that Scott Romine was replacing M. Shawn Dreffein as its CEO.
SAN FRANCISCO — A mortgage alternative is gaining traction. In recent years, such companies as CMG Financial Services Inc. and Macquarie Mortgages USA Inc. have begun offering mortgage accelerator loan products that allow borrowers to hasten their loan payoff schedule by reducing the amount of interest paid on their loans.
IRVINE, Calif. — The major sponsors of fee-based brokerage accounts claim they will need six months to a year to transition clients out of the accounts.
Many advisers do not want to be assigned clients or territories based on their race, national origin or other personal traits — but they are comfortable with relationships that evolve naturally from those factors.
Ameriprise Financial Services Inc. says that it is finally ready to execute its long-discussed strategy to recruit registered representatives and advisers from rival firms.
The Section 529 college savings plan industry is on a roll. Net sales of 529 plans rose to an all-time high of $5.2 billion during the first quarter of 2007, according to the most recent data available from Boston-based Financial Research Corp.
NEW YORK — Sick and tired of complying with an increasingly complex regulatory framework, many financial advisers knowingly sidestep their firms’ compliance policies and sometimes show little regard for rules and regulations, according to a new survey of advisers and other financial services professionals.
Merrill Lynch & Co. has trimmed employees’ sick days from 40 to 10, according to an internal memo.
Ben Weston, chief of hedge fund development at Merrill Lynch & Co. Inc., has left the company.
Eaton Vance Corp. reported a 42% fall in profits for the<br>second quarter today.
Aon Corporation announced today that chief financial officer David P. Bolger will leave the Chicago-based insurance broker after the appointment of his successor.
Euronext NV today reported a 4.4% profit loss during the first quarter, due to a reclassification of the company’s stake in LCH.Clearnet.
JPMorgan Chase & Co. has launched 12 indexes comprising exchange-listed American Depositary Receipts and Global Depositary Receipts.
Merrill Lynch & Co. Inc. is purchasing a 20% minority stake in a hedge fund with $8 billion in assets under management.
Merrill Lynch & Co. Inc. plans to reshuffle the leadership structure of its markets and investment banking operations, according to a Financial Times report.
Charles “Ed” Haldeman Jr. said that it’s “fine” with him if his soon-to-be bosses at Canada’s Power Financial Corp. want to replace him as chief executive of Putnam Investments.
Other banks may follow Bank of America Corp.’s decision this month to cut mortgage clients’ borrowing costs drastically, including waiving the requirement for private mortgage insurance, industry observers say.
Despite its pending acquisition by a unit of Power Financial Corp., Putnam Investments continues to face an uphill battle in its bid to regain the trust and confidence of financial advisers.
