The Bank of New York Co. Inc, parent of Jersey City, NJ-based Pershing LLC, posted a 3% increase in net income during the first quarter.
JPMorgan Chase & Co. posted a 55% increase in quarterly earnings, energized by gains in its investment banking and asset management businesses.
Knight Capital Group Inc. posted a 35% drop in first-quarter profits on lower revenues and a loss from discontinued operations, falling short of analysts estimates.
Morgan Stanley has hired Blair Pickerell as its managing director and head of investment management for Asia, according to published reports.
State Street Corp. posted an 11% increase in net income on stronger servicing and investment management fees, which boosted revenue to a record level.
Jefferies Group Inc. announced record quarterly investment banking revenues, net revenues, net earnings, and earnings per share, according to a statement released today.
Wachovia Corp. shareholders have approved two proposals by the company's board that will affect how directors are elected and how often.
TD Ameritrade Holding Corp. posted an 18% drop in second-quarter net income today, one year after the company recorded its largest one-time gain.
Charles Schwab Corp. posted a 12% increase in net income for the first quarter, as new customers increased assets in client accounts.
Wells Fargo & Co. posted an 11% increase in first-quarter profit, resulting from growth in lending and a higher-net interest margin, which set off increasing credit losses.
Mellon Financial Corp. reported a 22% increase in first-quarter profit after an acquisition helped boost its assets over the $1 trillion mark.
The IRS plans to issue final regulations for 403(b) plans by the end of June, and the changes could result in industry consolidation, particularly in the K-12 marketplace, observers said.
Along with the layoffs and cost cutting unveiled last week by Citigroup Inc. came rumors that the company’s Smith Barney brokerage unit was destined for a spinoff.
Proponents of health savings accounts and their mandatory high-deductible health insurance plans have come out swinging against a study concluding that the plans cost women about $1,000 more per year than men.
Most financial advisers wouldn’t expect to find health insurance in the same store where they buy lumber and fertilizer, but it turns out that the folks in orange aprons really can help with just about anything.
TIAA-CREF wants to be a contender in the Section 529 college savings plan business — again.
The radical notion of abolishing mutual fund boards and allowing funds to set their own prices may be worth a second look, according to the head of a group representing independent fund directors for the $10.4 trillion fund industry.
NEW YORK — The nation’s smallest Section 529 college savings plan — Tennessee’s BEST Savings Plan in Nashville, which has less than $40 million in assets and is managed by New York-based TIAA-CREF — soon may become the second state to transfer its 529 plan assets to a neighboring state.
IRVINE, Calif. — NASD continues to tinker with a pending variable annuity suitability rule, making a fourth proposed change in almost two years.
