Raoul Weil, chairman and CEO of the global wealth management division of UBS, has been indicted by a U.S. grand jury, charged with conspiring to help 20,000 wealthy Americans hide assets from the IRS.
The company posted a third-quarter net loss of 478 million euros ($602 million), or 22 cents a share, compared with a profit of 2.31 billion euros ($2.9 billion), or 1.08 a share, in the year-ago period.
Shares of State Street Corp. briefly soared 9% today after its CEO confirmed an upbeat fourth-quarter earnings report. They subsequently settled back near their opening levels as investors questioned the estimate.
Under orders from a federal judge, Bear Stearns has paid $27.3 million to the now-defunct National Heritage Life Insurance Co., which lost money invested with Bear on collateralized mortgage-backed obligations and collateralized debt obligations.
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The Fed and the Treasury announced a new restructuring plan to help bolster AIG, including a $40 billion purchase of new preferred shares from the ailing insurer.
Fannie Mae posted a large third-quarter loss, while the profit at GLG Partners LP fell.
Analysts applauded the newly restructured bailout plan for American International Group Inc., citing benefits for the insurer.
InvestmentNews announced today that it has partnered with RIA Database as the exclusive financial advisory trade publication to publish RIA Database’s Top Registered Investment Advisers (RIA) lists.
Advisers, hungry for market information in this troubled environment, are turning to asset managers for help.
It is all about valuation and company fundamentals for fund manager Michael Cuggino as he rummages through the battered markets looking for investment bargains.
One of the bright spots in an otherwise difficult year for the Section 529 college savings plan industry has been the aggressive efforts of Alexi Giannoulias, Illinois' dynamic young state treasurer, to boost the visibility of college savings both in his home state and across the country.
Choppy markets highlight the importance of owning dividend-paying investments that can smooth out volatility.
Carriers may be going through their own tumult, but that hasn't stopped clients from seeking life insurance coverage, according to agents and advisers.
Insurance agents are blasting a controversial Securities and Exchange Commission proposal to classify equity index annuities as securities.
Insurance companies and distributors face major changes for risk management and product development as variable annuities and their guarantees pressure insurers' risk-based capital, industry experts said.
Just over half of Americans are investing in a retirement plan, but the tumultuous financial markets are making it a more arduous task, according to a new survey.
The stock market historically has risen more during the first year under Democratic presidents than the first year under Republican presidents, according to data released last month by Savant Capital Management Inc.
Broker-dealers, registered representatives and advisers could be on the hook if they sell products from major carriers whose risk-based capital is crumbling, plaintiff's attorneys say.
National Financial Partners Corp., the amalgamator of financial planning firms whose shares have plunged 90.7% in the past 52 weeks, is renegotiating its bank credit lines, suspending its dividend and share buybacks and temporarily ceasing acquisitions as it and its constituent firms continue to struggle.
