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Not out of woods yet, Thain says
Merrill Lynch & Co. Inc. has overcome its most serious problems stemming from the credit crunch, but is not out of the woods yet, Merrill chief executive John Thain told Spain's El Pais newspaper.
New exchanges to the rescue?
Companies holding auction-rate securities have a new escape option: an emerging secondary market for trading the now-illiquid instruments.
Merrill alright on funds, Thain says
Merrill Lynch & Co. Inc. will not need any outside capital to bolster its balance sheet, said chairman and chief executive John Thain.
Rivalry in ETN market is heating up
Financial advisers are glad to see that competition is heating up in the nascent exchange traded note market.
Recent push by Finra is the right move
The recent push by the Financial Industry Regulatory Authority Inc. to return money to harmed mutual fund investors was part of what should be a never-ending effort by the financial services industry to find ways to maintain consumer faith in the marketplace.
Merrill to shutter subprime unit
Merrill Lynch & Co. Inc. will close its First Franklin subprime-mortgage lending unit, in a move that will eliminated 650 jobs.
Several wirehouses press advisers to talk health care with clients
Several wirehouse firms have begun pushing their financial advisers to talk to clients in more depth about health care issues in retirement, but at least one firm, UBS Financial Services Inc., is avoiding the topic because of liability concerns.
Several wirehouses press advisers to talk health care with clients
Several wirehouse firms have begun pushing their financial advisers to talk to clients in more depth about health…
Goldman, Merrill cut JPMorgan estimates
The news comes less than a month after analyst at Lehman and Deutsche owered their Q1 estimates for Goldman.
Industrial bank bill moves closer to passage
Legislation is moving forward in the Senate that would allow financial services companies to keep their industrial banks.
Ameriprise requires advisers to attend technology boot camp
Ameriprise Financial Inc. is calling 10,000 of its financial advisers to its headquarters for technology training on a grand scale.
The ups and downs of going independent
If Charles Massimo had it to do all over again, he still would choose to leave Smith Barney and become an independent broker.
Merrill to pay back city for soured CDOs
Merrill Lynch will reimburse the city of Springfield, Mass., $13.9 million to settle a dispute over losses on CDOs.
The traders done it, Thain says
Lack of oversight of trading desks was a key factor in Merrill Lynch's write-offs on bad debts, said CEO John Thain.
Merrill execs get stock, not cash, for ’07
The stock options will "promote the continuity of the management team," Merrill Lynch said in an SEC filing.
Merrill Lynch jettisons CDO biz
The firm plans to stop underwriting collateralized debt obligations and other structured credit products.
Merrill co-prez said to leave firm
Merrill Lynch co-president Amass Fakahany is expected to step down today, according to a report by CNBC.
For mutual funds the scandal is what has remained legal
One very large player figured only marginally in the scandals of the 1990s — the $7 trillion mutual fund industry.
Merrill’s Thain waxes rosy at Davos
Despite a $9.8 billion fourth-quarter loss, Merrill Lynch's CEO said his firm is “very well positioned” for growth in 2008.
Reps at Smith Barney, Merrill hunker down
Despite the huge losses reported by Merrill Lynch and Smith Barney parent Citigroup, brokers at the firms remain surprisingly positive.
