Brokers at A.G. Edwards Inc. won’t have to worry about losing their wealthy clients, according to Stan Kelly, president of Wachovia Wealth Management.
Lehman Brothers Holdings Inc. said that it has raised $1.5 billion for its new Lehman Crossroads Fund XVIII fund-of-funds.
Morgan Stanley is looking at investing in between two and three fund-management companies in China, according to MarketWatch.
Brokers at A.G. Edwards and Wachovia Securities got details of their retention packages today.
Goldman Sachs Group Inc. will purchase a stake in ICICI Financial Services in Mumbai, India, published reports said.
Bear Stearns today said its earnings dropped, while Goldman Sachs reported a slight decline in revenues.
The Bear Stearns Cos. Inc. is liquidating holdings from a recently formed hedge funds after it lost money on subprime mortgage bonds.
To rev up its top reps and advisers, Raymond James is giving bonuses to its biggest-producing brokers.
Fidelity Investments has sold nearly all of its shares in Dow Jones & Co., the target of a $5 billion takeover bid by Rupert Murdoch’s News Corp.
James Livingston has been tapped as CEO of National Planning Holdings, replacing Shawn Dreffein.
Merrill Lynch, Morgan Stanley, Smith Barney and Charles Schwab are being sued for allegedly illegally forcing clients into lower paying deposit accounts, enabling the firms to reap “billions” in extra profits.
Wachovia Corp. last week put the finishing touches on its retention package for brokers with A.G. Edwards Inc., and the company plans to announce details as early as today or as late as Wednesday.
Wachovia Corp.’s planned $6.8 billion purchase of A.G. Edwards Inc. could make an already competitive sales game even tougher for U.S. mutual fund firms, some analysts said.
IRVINE, Calif. — Smith Barney reps are wondering when they’ll get their payments from the wage-and-hour lawsuit the firm agreed to settle in May 2006 for $98 million.
Mutual fund companies seem to be willing to challenge corporate management on some governance issues, but there still is a way to go before they will be seen as pulling their weight.
IRVINE, Calif. — NASD has dropped a controversial proposal to revamp its branch office definitions.
NEW YORK — Companies that provide training and manufacture software aimed at investment advisers expect to cash in on the recent demise of the broker-dealer exemption rule.
PHILADELPHIA — With help from Barclays Global Investors, a California 401(k) record keeper has created a new platform intended to break the mutual fund stranglehold on the 401(k) market.
