The New York-based firm has chosen Vanessa A. Wittman as its new finance chief and executive vice president.
Don Saxon leaves amid allegations that his agency let thousands of convicted criminals work in the mortgage business.
Beginning Oct. 15, Merrill Lynch will buy back about $2.1 billion in auction rate securities.
Attorney General Andrew Cuomo this afternoon announced settlements with Merrill Lynch, Goldman Sachs and Deutsche Bank on the sale auction rate securities.
Limra International Inc. today added Lawrence J. Niland to its compliance and regulatory services division.
Goldman Sachs, Morgan Stanley and Lehman Bros. had their earnings estimates slashed by Sanford C. Bernstein & Co.
The firm saw net income slip to $49.6 million from $55.8 million in the year-ago period.
The SEC chairman said investigations will go beyond the banks and include the brokerages that sold the investments.
The cost of doing business increased to a 26-year high while housing starts crumbled to a 17-year low.
Confidence among global institutional investors declined this month, led by a steep drop among North American investors.
Many of the country's largest companies expect corporate charitable giving to remain flat or decrease this year.
Fifty-eight percent of RIAs expected the S&P 500 to gain ground, compared with 46% who felt that way in January.
The repurchase of some $35 billion in ARS is not expected to have a material financial impact, banks say.
After losing costly battles with three former brokers last month, Banc of America Investment Services Inc. is now on the hook for $1.63 million.
Auction rate securities cases have spawned a new arbitration procedure that relies on a single public arbitrator to hear cases brought by investors who allege "consequential damage" claims from ARS.
Although brokers have welcomed the billions in auction rate securities buybacks announced by the big Wall Street firms in the past two weeks, they are still angry that it took six months for their companies to begin dealing with the fiasco.
New York Attorney General Andrew Cuomo’s probe into the industry's selling of auction rate securities has widened.
Younger workers are saving for retirement but fear that they aren't saving enough and that benefits such as Social Security will be cut before they are ready to retire, according to a new study.
Products that combine equity exposure, income generation and volatility protection may grow more popular among advisers, according to a retirement product executive.
Whether done voluntarily, as in the case of Merrill Lynch, or as the result of settlements with regulators, as with Citigroup, JPMorgan Chase, Morgan Stanley, UBS and Wachovia, the buy-backs of failed auction rate securities that giant Wall Street firms have agreed to undertake are significant.
