Foreclosures and short sales took a toll on home prices in the fourth quarter as the median price of existing single family homes plunged 12.4% from a year earlier.
Marc Mayer, a 20-year veteran of AllianceBernstein, was tapped as the first chief executive of GMO LLC, a spokesman confirmed today.
The wife of accused swindler Bernard Madoff withdrew $15.5 million from a brokerage account in the weeks before he was arrested.
After a six-month slump, retail sales rose for the first time in January, according to a Department of Commerce report released today.
Genworth Financial Wealth Management selected State Street Global Advisors to manage six portfolios using State Street’s SPDR exchange traded funds.
To protect consumers against fraud associated with the current economic crisis, the FBI has increased its investigation into corporate financial crimes.
The Hartford (Conn.) Financial Services Group received approval from the Connecticut insurance commissioner to change accounting practices.
The AIG Advisor Group has reached the end of a dispute with the SEC over a manager who oversaw brokers selling Class B shares of mutual funds instead of selling A shares, which would have entitled buyers to certain discounts.
A stringent plan to regulate hedge funds that is backed by Obama administration aide Paul Volcker won the support today of an influential Democratic senator.
Only three of the eight CEOs testifying before the House on their use of government bailout funds bought shares in their companies over the last six months as the stocks were plummeting.
Amegy Bank NA of Houston, and its broker-dealer affiliate, Amegy Investments Inc., have filed an arbitration claim against Merrill Lynch & Co. Inc. of New York.
Congress has reached agreement on the nearly $800 billion economic stimulus package sought by President Obama. Senate Majority Leader Harry Reid , D-Nev., told reporters that House and Senate negotiators “bridged differences” between the two chambers’ versions of the bill and came up with a $789 billion package.
Insurers are eager to continue developing products in the variable annuity arena — with the search for ways to reduce risk as a top priority.
The Retirement Income Industry Association gave a sneak peek into an initiative designed to encourage financial advisers to take a risk management approach.
Robert W. Baird has snagged Paula Johnson, an industry veteran most recently with rival Wachovia Securities LLC of St. Louis, to lead a fledgling branch office.
Massachusetts Secretary of the Commonwealth William F. Galvin filed a complaint today to revoke the securities registration of Cohmad Securities Corp.
New York Attorney General Andrew Cuomo may subpoena more executives from Bank of America Corp. and Merrill Lynch & Co. Inc.
Providers will push forward with the development of the income guarantee paired with a unified managed account, and with other vehicles, despite hurdles.
