State-level budget pressures are fueling an investment bonanza for those firms with the resources and wherewithal to tap into a fast-developing market of infrastructure investments.
LOS ANGELES — Fueled by a flood of money from private-equity firms buying local businesses as well as a spectacular appreciation of real estate values, California’s Orange County has emerged from the shadows of neighboring Los Angeles as a wealth management powerhouse in its own right.
Bank of America Corp. has been sued for race discrimination by allegedly steering wealthy clients to white co-workers.
John C. Whitehead said he is outraged by the excessive compensation given to Wall Street top execs.
Bank of America appoints Moynihan and Sevilla-Sacasa to head a wealth team that incorporates U.S. Trust Corp.
Russia's customs service is suing the Bank of New York for $22 billion over alleged misdeeds dating from the 1990s, according to Russian news agencies.
JPMorgan Chase & Co. acquired Xign Corp., a provider of business-to-business on-demand financial settlement solutions.
The Fidelity Out of Sudan group applauded news that the fund giant has slashed its stake in PetroChina ADRs by 91%.
A senior fund manager at a joint venture between JPMorgan Asset Management and Shanghai International Trust & Investment Co. was dismissed yesterday because of suspected insider trading.
George "Beau" Taylor, JPMorgan Chase & Co.'s energy-trading head has quit to join the Credit Suisse Group, according to published reports.
Merrill Lynch & Co. Inc. has announced that it will expand its private equity efforts and promote two managers.
An affiliate of Edward Lampert's ESL Investments Inc. hedge fund now owns 15.24 million shares of Citigroup Inc.
Rising trading volumes boosted the London exchange's fiscal-year operating profits by 55% to $367 million.
The first hedge fund to go public today posted a 52% drop in first-quarter net income.
Fidelity Investments today added international real estate, Canada and small cap funds to their Advisor fund roster.
Rising credit losses and lower trading results took a $35 million bite out of HSBC USA Inc.’s profits during the first quarter.
Euronext, a subsidiary of exchange operator NYSE Euronext, reported record quarterly revenues of $419.8 million, up from $364.5 million the prior year.
Tom Madsen, UBS Global Asset Management’s global head of equities, has stepped down from his post to take a business development role, according to published reports.
With floor traders at the New York Stock Exchange fast becoming obsolete, Bear Stearns Cos. Inc. said today that it would write down the value of its specialist business by $225 million, according to Crain's New York Business.
