Citigroup Inc. of New York has been sued by a participant in its $12 billion 401(k) plan.
Citigroup Inc. will buy Carlton Hill Global Capital, a New York-based fixed-income money manager.
The St. Louis-based firm touts this plan as the lowest cost full service 401(k) plan available in the industry.
The new not-for-profit organization will called LL Global Inc., providing a unified management structure.
The average age of a buyer is now 58, down from 61 in 2005, and 67 in 2000, according to a survey.
Americans are in denial about their finances. Federal data show that they spend like there's no tomorrow. Our middle class is among the most affluent in history, but many live paycheck to paycheck, their futures mortgaged to fund their increasingly expensive amusements.
The new regulations from the Department of Labor covering qualified default investment alternatives will have widespread ramifications for both financial advisers and insurance companies.
He will replace Raj Singh, who will take a new position at the Swiss Reinsurance Co.
John Hancock Annuities is making a run for old and young retirees with a new annuity rider.
Just 23% of women in a recently released survey said that they were confident in their ability to retire with a lifestyle that they considered comfortable.
Some 77% of respondents to an InvestmentNews survey plan to reach out to clients in areas affected by wildfires.
The Oregon College Savings Plan will combine principal protection with upside potential.
The mutual fund trade group asks the state to repeal a new sales tax on investment advice services.
In addition to advising services, the new tax would also apply to astrology reading, escort services and ski-lift tickets.
The move would “hinder America’s ability to compete in the global economy,” said Treasury chief Henry Paulson.
MBIA, the world’s largest bond insurer, reported third-quarter earnings with a net loss of $36.6 million, or 29 cents per share.
The board of New York Life Insurance has elected Frank Boccio to the position of executive vice president and CAO.
Legislation mandating complete transparency in 401(k) fees is set to be introduced in the Senate this week.
The Risk Group will be responsible for identifying, tracking and addressing key external market and industry trading developments.
Charles Rangel, chairman of the House Ways and Means Committee, has drafted a bill that would slash corporate income tax rates, The Wall Street Journal said.
