Morgan Stanley co-president Zoe Cruz is the latest casualty of the mortgage crisis, leaving after 25 years at the firm.
The firm will change its pay policies to comply with a wage-and-hour lawsuit the firm settled last year.
John Thain may bring aboard Nelson Chai of NYSE Euronext as he takes the helm at Merrill, The Wall Street Journal reported.
The White House toned down its forecast for economic growth for 2008, but still predicted "solid growth" throughout the year.
Josh Brooks, chief investment officer for large-cap equities at Putnam Investments, is leaving the firm.
Banks will not displace wirehouse channels, but will receive a larger share of growth and assets.
Legislation allowing donations from IRAs to individual charities will not include donations to donor-advised funds.
Mr. Strangfeld, currently vice chairman of Prudential, now runs all of the company’s U.S. businesses.
Individual life insurance premium sales jumped 20% during the third quarter, according to LIMRA International.
The third-quarter economy expanded at its fastest pace in four years, growing 4.9%, according to a Department of Commerce report.
