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Merrill slashes sick days
Merrill Lynch & Co. has trimmed employees’ sick days from 40 to 10, according to an internal memo.
Merrill hedge fund boss branches out
Ben Weston, chief of hedge fund development at Merrill Lynch & Co. Inc., has left the company.
JPMorgan Chase debuts ADRs
JPMorgan Chase & Co. has launched 12 indexes comprising exchange-listed American Depositary Receipts and Global Depositary Receipts.
Merrill buys big stake in GSO hedge fund
Merrill Lynch & Co. Inc. is purchasing a 20% minority stake in a hedge fund with $8 billion in assets under management.
Merrill may reorganize in wake of departure
Merrill Lynch & Co. Inc. plans to reshuffle the leadership structure of its markets and investment banking operations, according to a Financial Times report.
Ex-Goldman chairman ‘appalled’ at pay
John C. Whitehead said he is outraged by the excessive compensation given to Wall Street top execs.
JPMorgan Chase buys Xign Corp.
JPMorgan Chase & Co. acquired Xign Corp., a provider of business-to-business on-demand financial settlement solutions.
Fidelity slashes PetroChina holdings
The Fidelity Out of Sudan group applauded news that the fund giant has slashed its stake in PetroChina ADRs by 91%.
ESL ups stake in Citigroup
An affiliate of Edward Lampert's ESL Investments Inc. hedge fund now owns 15.24 million shares of Citigroup Inc.
Energy boss leaves JPMorgan Chase
George "Beau" Taylor, JPMorgan Chase & Co.'s energy-trading head has quit to join the Credit Suisse Group, according to published reports.
JPMorgan fund manager sacked
A senior fund manager at a joint venture between JPMorgan Asset Management and Shanghai International Trust & Investment Co. was dismissed yesterday because of suspected insider trading.
Merrill promotes two in private equity
Merrill Lynch & Co. Inc. has announced that it will expand its private equity efforts and promote two managers.
Fidelity unveils three Advisor funds
Fidelity Investments today added international real estate, Canada and small cap funds to their Advisor fund roster.
UBS exec moves to biz development
Tom Madsen, UBS Global Asset Management’s global head of equities, has stepped down from his post to take a business development role, according to published reports.
Bear Stearns writes off $225M for specialists
With floor traders at the New York Stock Exchange fast becoming obsolete, Bear Stearns Cos. Inc. said today that it would write down the value of its specialist business by $225 million, according to Crain's New York Business.
Schwab smiles on merger of rivals
Charles “Chuck” Schwab again dismissed speculation that his company might acquire TD Ameritrade Holding Corp. or E*TRADE Financial Corp. by suggesting the two rivals might form a good union themselves, according to press reports.
Fidelity adds to AMT tax-free funds
Fidelity Investments, the biggest U.S. mutual fund company, today announced the launch of two new share classes of Fidelity California, Massachusetts, New Jersey and New York AMT Tax-Free Money Market Funds.
LPL advisers are raising fees
Financial advisers across the country who use Linsco/Private Ledger Corp. as their broker-dealer are raising prices, mostly for new clients.
Raymond James recruits recruiters
Raymond James Financial Services Inc. is adding major clout to its recruiting effort, bringing on board half a dozen recruiters, including two top executives from rival independent-contractor firms, investmentnews.com reported Friday.
Morgan Stanley to pay $7.9 million
Morgan Stanley & Co. Inc. will pay $7.9 million for its failure to provide best execution to certain retail orders for over-the-counter securities, the Securities and Exchange Commission announced today.
