The Boston-based money manager posted net income of $53.2 million, or 43 cents per share.
A Wells notice was sent to Maurice Greenberg, former chief executive of AIG, last Friday, The Wall Street Journal reported.
The Securities and Exchange Commission is investigating Franklin Bank after an internal probe revealed accounting errors tied to residential real estate loans.
The producer price index edged up a weaker-than-expected 0.2% last month, reflecting reduced gasoline prices at the producer level.
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.
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.
Has anyone noticed that the financial advisory industry is shrinking?
The U.S. subprime meltdown will result in more-stringent banking regulations, according to former Sen. Paul Sarbanes.
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 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.
Joe Moglia will be succeeded by Fred Tomczyk, who has been TD Ameritrade's chief operating officer since July 2007.
Construction of new homes swung up unexpectedly in April, as the number of new multifamily housing units grew.
The United Nations cited expectations of only 1.8% growth for 2008, compared with growth of 3.8% in 2007.
The U.S. financial markets have calmed down, but more turmoil lies ahead, the secretary said today.
What would be the financial consequence if one of your clients lost his or her physical and/or mental independence?
The insurer settled with the Connecticut Attorney General’s Office following an investigation into its practices.
U.S. industrial production fell 0.7% in April as the manufacturing sector recorded its worst drop in nearly three years.
