New York Life will launch a series of five target-date funds called the MainStay Retirement Funds.
An adviser to the Dutch high court said ABN Amro can sell LaSalle without shareholder approval.
New York Life Insurance Co. said on today that its COO, Theodore Mathas, would add president to his title as of July 1.
John Hancock will pay $21.2 million to settle an investigation of the firm's failure to disclose revenue sharing schemes.
AXA Equitable Life Insurance Co. has named Kenneth T. Kozlowski vice president of its Funds Management group.
Bank of America said it lost about $450 million from the bankruptcy of Parmalat after relying on "fraudulent misrepresentations" made by the Italian dairy company.
Two powerful bank trade groups today announced plans for a merger.
The SEC is looking at possible problems involving revenue sharing payments made by funds of funds.
Bank sales of variable annuities that invest in mutual funds continue to grow but are outpaced consistently by those of mutual funds. That’s a function of periodic adverse publicity combined with compliance hassles, observers say.
Treasury Secretary Henry Paulson will propose an anti-money laundering framework for small banks tomorrow, The Wall Street Journal said.
Maurice R. Greenberg has sued current and former AIG directors and management, as well as PricewaterhouseCoopers.
Insurers increasingly are using trail commissions for fixed annuities to give finan-cial advisers an additional incentive to cultivate long-term client relationships.
Borrowers are turning to other providers, but don’t expect banks to die out any time soon, the Fed chief said today.
AIG has sued former chairman Maurice R. Greenberg and ex-CFO Howard I. Smith for more than $1 billion in damages, published reports said.
The Hartford Financial Services Group Inc. has tapped Thomas M. Marra to take on the combined position of president and chief operating officer.
More insurers are offering riders that include long-term-care coverage in life insurance policies.
One of AIG's subprime units settled with the Office of Thrift Supervision over inappropriate loans to some borrowers and excessive fees.
Prudential Financial today announced that it would close its equity research and trading business, with a loss of some 420 jobs.
MetLife Inc.'s Investors Group has promoted Elizabeth M. Forget to senior vice president, the insurer said today.
Great-West Life bought Boston-based Putnam Investments to obtain "instant recognition" in the U.S. market.
