American International Group Inc. chief executive Robert H. Benmosche's reported threat to quit two weeks ago — and subsequent pledge to continue his work at AIG — sets the stage for a battle over pay curbs while underscoring the enormous challenges AIG still faces, observers say.
American International Group Inc. has released a letter Benmosche sent to employees Wednesday following a Wall Street Journal report that said he was threatening to quit. The Journal said Benmosche has been frustrated by heavy government oversight and cumbersome restrictions on executive pay.
Massachusetts Mutual Life Insurance Co. announced another series of terminations this week, cutting back 160 posts in its Enfield, Conn., and Springfield, Mass., offices.
A recent bankruptcy protection filing by a provider of life settlements raises concerns that consumers in the midst of selling a policy, as well as investors, may get a raw deal in this and similar situations.
As states propose and pass rules for oversight of life settlement transactions, industry participants wonder just how far the Securities and Exchange Commission will reach into the market to provide uniform guidance on disclosure and broker registration.
State insurance and securities regulators yesterday appealed to members of the Senate for tougher oversight of life settlement transactions in order to curb abuse of senior citizens.
World stock markets fell Thursday while the dollar strengthened to a three-month high against the euro.
The ex-wife of one of America's richest men has sued the billionaire in New York for racketeering, saying he hid millions of dollars from her for decades.
Mutual funds could invest directly in commodities under legislation introduced Wednesday by House Ways and Means Committee Chairman Charles Rangel, D-N.Y., and Select Revenue Measures Subcommittee Chairman Richard Neal, D-Mass.
Hedge fund performance is cooking again, which means that advisers should brace for a new onslaught of investor inquiries about alternative strategies.
Although Americans are aware of the debilitating costs of long-term care, few seem to understand how to pay for those services, according to a study by MetLife Mature Market Institute.
William Stevens was named a vice president and portfolio manager at Loomis Sayles.The position is new, said spokeswoman Meg Clough.
European stocks and fell Tuesday and the euro slid to a two and a half month low against the dollar on worries about the Greek government's debts and the financial health of Austria's banks.
World markets mostly rose Monday after Dubai said it had received $10 billion in emergency funds from its oil-rich neighbor Abu Dhabi, helping to ease investor fears that the emirate will default on its debt.
John Hancock Funds LLC will file with the Securities and Exchange Commission in the next few weeks plans to launch actively managed exchange-traded funds, according to an official at the firm.
Christopher Browne, a genteel money manager who helped bring down newspaper baron Conrad Black, died Sunday of a heart attack. Mr. Browne appears to have been 63, although his firm, Tweedy Browne & Co., couldn't immediately confirm that.
Chinese shares rebounded Thursday after the government extended tax cuts and subsidies for purchases of small vehicles and appliances to support the economic recovery.
Before being elected to the Senate, Herb Kohl ran his family's grocery and department store business.
Despite the market rebound, investors are continuing to pour money into bond funds, causing a number of asset managers and financial advisers to make sure that their clients are diversifying their fixed-income holdings.
Advisers who grapple with the complexities of retirement income will be getting more help next year from Moshe Milevsky, an associate professor of finance at York University in Toronto and executive director of the Individual Finance and Insurance Decisions Centre.
