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WIREHOUSES APR 19, 2007
Fidelity announces high-level job shifts

Fidelity Investments’ vice chairman and chief operating officer, Robert Reynolds, announced his retirement today and Ellyn McColgan was named president of distribution and operations.

WIREHOUSES APR 19, 2007
BlackRock's Merrill acquisition pays off

BlackRock Inc. posted a whopping 176% jump in first-quarter net income as demand for its products has improved following its merger with Merrill Lynch & Co. Inc.'s asset management unit last year.

LIFE INSURANCE AND ANNUITIES APR 19, 2007
Jackson National sales climb 21%

Jackson National Life Insurance Co. today reported total sales of nearly $3.5 billion in the first quarter, up 21% from the same period a year ago.

WIREHOUSES APR 19, 2007
Bank of America books 5% profit

Bank of America Corp. recorded a 5% increase in first quarter net income, as fee income rose despite a challenging credit environment.

WIREHOUSES APR 19, 2007
Citigroup hedge funds chief resigns

Less than a week after Citigroup Inc. agreed to purchase Old Lane LP and tap Vikram Pandit, its founder, to become head of Citi Alternative Investments, Citigroup’s Dean Barr has resigned as head of liquid markets.

WIREHOUSES APR 19, 2007
Merrill's profits surge 31% in first quarter

Merrill Lynch & Co. Inc.'s first-quarter profits increased 31% from a year ago, when it took a charge related to its acquisition of BlackRock Inc. the company reported today.

WIREHOUSES APR 18, 2007
Lehman names Asia vice-chairman

Lehman Brothers Holdings Inc. has appointed Kunho Cho as its first Asia-based vice chairman, according to published reports.

WIREHOUSES APR 18, 2007
Amvescap chief's pay cut after protests

Amvescap PLC chief executive Martin Flanagan's 2006 pay package was less than half of his compensation in 2005, according to a Financial News report.

LIFE INSURANCE AND ANNUITIES APR 18, 2007
BoNY's revenues rise in first quarter

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.

WIREHOUSES APR 18, 2007
Knight Capital's profits plunge

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.

WIREHOUSES APR 18, 2007
JPMorgan Chase books record profits

JPMorgan Chase & Co. posted a 55% increase in quarterly earnings, energized by gains in its investment banking and asset management businesses.

WIREHOUSES APR 18, 2007
Morgan Stanley hires Asia investment boss

Morgan Stanley has hired Blair Pickerell as its managing director and head of investment management for Asia, according to published reports.

WIREHOUSES APR 17, 2007
State Street boasts profits hit highpoint

State Street Corp. posted an 11% increase in net income on stronger servicing and investment management fees, which boosted revenue to a record level.

WIREHOUSES APR 17, 2007
Schwab profits rise 12%

Charles Schwab Corp. posted a 12% increase in net income for the first quarter, as new customers increased assets in client accounts.

WIREHOUSES APR 17, 2007
Wachovia adopts changes to board election

Wachovia Corp. shareholders have approved two proposals by the company's board that will affect how directors are elected and how often.

WIREHOUSES APR 17, 2007
Mellon posts juicy first quarter

Mellon Financial Corp. reported a 22% increase in first-quarter profit after an acquisition helped boost its assets over the $1 trillion mark.

WIREHOUSES APR 17, 2007
Jefferies books record banking revenues

Jefferies Group Inc. announced record quarterly investment banking revenues, net revenues, net earnings, and earnings per share, according to a statement released today.

WIREHOUSES APR 17, 2007
Wells Fargo sees 11% profit hike

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.

WIREHOUSES APR 17, 2007
TD Ameritrade takes 2Q fall

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.

REGULATION AND LEGISLATION APR 16, 2007
IRS pending regulations seen as consolidating 403(b) market

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.