UBS AGwill raise more than $15.5 billion of capital by issuing sharply discounted shares in an attempt to recover from mortgage-related losses.
Brinker Capital Inc. has surpassed the $10 billion mark in assets under management.
Proposals voted on at Citigroup, JPMorgan and Morgan Stanley that allow investors to weigh in on pay were not well received.
A Florida pension fund yesterday filed suit against AIG and four executives of making misleading statements about the company’s finances.
Concentrating on its existing 11,100 advisers is LPL's first priority, said executive William Dwyer III.
A Wells notice was sent to Maurice Greenberg, former chief executive of AIG, last Friday, The Wall Street Journal reported.
The Boston-based money manager posted net income of $53.2 million, or 43 cents per share.
The Securities and Exchange Commission is investigating Franklin Bank after an internal probe revealed accounting errors tied to residential real estate loans.
The economy will probably avoid going into recession, said Marci Rossell, a former chief economist for CNBC Inc. television.
American International Group Inc.’s will raise $20 billion to guard against further write-downs, according to published reports.
The producer price index edged up a weaker-than-expected 0.2% last month, reflecting reduced gasoline prices at the producer level.
When they started their partnership in 1990 at Morgan Stanley, brokers Gerald P. Kessler and Paul S. Baker probably never imagined that the dissolution of their book of business — $470 million in assets, producing an estimated $3 million a year in fees and commissions — would hinge on a coin toss.
The U.S. subprime meltdown will result in more-stringent banking regulations, according to former Sen. Paul Sarbanes.
Has anyone noticed that the financial advisory industry is shrinking?
For the first time, starting in July, Citigroup Inc.'s managed-account platforms will start advising Smith Barney reps and Citi private bankers on when to buy and sell specific money managers and mutual funds for their clients.
The United Nations cited expectations of only 1.8% growth for 2008, compared with growth of 3.8% in 2007.
Construction of new homes swung up unexpectedly in April, as the number of new multifamily housing units grew.
The Energy and Tax Extenders Act may be taken up next week by the House of Representatives.
Consumer confidence fell to its lowest level since 1980 and its fifth-lowest reading ever.
