Sources say the firm has been asking hedge funds to take on mortgage-related securities.
The worse-than-expected third-quarter losses raise questions as to the fate of chief executive Stanley O’Neal.
The Phoenix Cos. Inc. has formed an alliance with Jefferson National Life Insurance Co. in which Phoenix will use the Jefferson technology platform to offer no-load variable annuities to fee-based advisers at wirehouses and regional broker-dealers.
Cory Little will head the private banking and investment unit in Boston's global wealth management group.
Merrill Lynch is stoutly denying that its finance chief, Jeffrey Edwards, will get the boot.
In an effort to get more wirehouse brokers to break away and become independent registered investment advisers, Schwab Institutional plans to roll out today an all-in-one benefits and payroll package designed for the newly independent RIA.
JPMorgan Chase analyst Kenneth B. Worthington downgraded Merrill's stock to "neutral" from ''overweight.''
Osman Semerci, former head of the fixed-income division, and Dale Lattanzio, former head of structured credit products, have left the firm.
Goldman Sachs analyst William Tanona expects Merrill's third-quarter earnings to decline by 89% to $208.9 million.
Merrill Lynch alumnus Kurt Peterson previously had assets under management of about $177.5 million.
Merrill Lynch has adjusted the value of some investments suffering from the subprime-mortgage market.
TD Ameritrade began sending apology letters to most of its clients after a hacker stole vital information.
Schwab Institutional will provide free portfolio re-balancing software to financial advisers who use its custody services.
Fidelity debuted a Web-based tool designed to help advisers create and manage retirement income plans for their clients.
The firm has added services for shareholders that invest in its $100,000 no-load, low cost mutual funds.
CHICAGO — Pension consultants and third-party administrators want bundled providers, including industry giants such as Vanguard and Fidelity, to disclose their revenue-sharing arrangements with affiliated service providers, but the bundled providers are balking.
In the newly created position, Mr. Lee will be responsible for expanding the investment bank's business in Taiwan.
The jolts that TD Ameritrade Holding Corp. experienced during 18 months of integration following the 2006 merger of TD Waterhouse Group Inc. and Ameritrade Holding Corp. have not dulled its appetite for more deals, according to chairman and chief executive Joe Moglia.
After examining an aborted insider-trading investigation involving Pequot Capital Management Inc. and Morgan Stanley chief executive John Mack, Senate investigators have concluded that SEC enforcers are concerned about being undermined by their supervisors.
