HSBC Group Holdings reported a 13%% rise in earnings for 2007 aided by an increase in client assets and the launch of new private-equity investment platforms.
Recent scandals have taught financial services firms to scrutinize the people they hire more closely.
Robert R. Carter is stepping down as president of NFP Insurance Services Inc., according the SEC filings.
Several wirehouse firms have begun pushing their financial advisers to talk to clients in more depth about health care issues in retirement, but at least one firm, UBS Financial Services Inc., is avoiding the topic because of liability concerns.
FMR, the parent company of Fidelity, reported a 15% increase in assets under management for 2007.
The Dow Jones lost more than 300 points after the insurer reported dismal quarterly results.
West Virginia today passed legislation to prevent the settlement of stranger-oriented life insurance policies.
MBIA is bracing for more write-downs and Ambac has been given more time to justify its triple-A rating from Moody’s.
A slight January increase in personal income was overshadowed by rising inflation, according to the Commerce Department.
The rule would increase protection for employee contributions to pension and welfare-benefits plans for smaller firms.
Old Mutual Asset Management reported $332.6 billion in assets under management as of Dec. 31.
“I don’t anticipate ‘stagflation’ ... anywhere near the situation that prevailed in the 1970s,” the Fed chief told Congress.
The news comes less than a month after analyst at Lehman and Deutsche owered their Q1 estimates for Goldman.
The lackluster showing in the GDP, down from a 4.9% increase in the third quarter, was due mainly to drops in residential investment, government spending and inventory investment.
“The economic situation has become distinctly less favorable,” Fed chairman Ben Bernanke told Congress.
Ted Mathas has been named the firm’s chief executive officer-elect and will succeed Sy Sternberg.
The dollar fell to $1.5088 per euro, the lowest since level the European single currency's debut in 1999.
Orders for durable goods fell 5.3% in January, a decrease of $12 billion, according to a report released by the U.S. Department of Commerce.
