After two successive profitable quarters, the besieged insurer reports a loss of nearly $9B in the fourth quarter.
The Certified Financial Planner Board of Standards Inc on Friday placed Oren Eugene Sullivan Jr. under interim suspension, keeping the ex-broker from using its credentials.
In a huge blow to SagePoint Financial Inc., one of three broker-dealers that make up the AIG Advisor Group Inc., its largest branch of reps and advisers is walking out the door following a bitter dispute over the latter's role and future at SagePoint.
For investors holding shares in Berkshire Hathaway Inc., Friday might be a very lucrative day. Today marks the last trading day before Warren Buffet's investment vehicle gets added to the S&P 500. Berkshire's listing in the benchmark index commences Tuesday, the next trading day for U.S. markets.
American International Group Inc. is launching a plan to revamp how it arrives at incentive pay for its workers, according to the NY Times.
MetLife Inc. is in the final stages of talks with American International Group Inc. about a deal to buy AIG subsidiary American Life Insurance Co. for about $8 billion in stock and access a bridge loan, according to published reports.
Shares of MetLife slid Wednesday, a day after the insurer confirmed that it's in talks with American International Group Inc. about buying the American Life Insurance Company.
American International Group Inc. is set to pay out about $100 million in a fresh round of bonuses to employees of its financial products division, the unit whose risky bets helped sink the company leading to a $180 billion government bailout, according to reports published Tuesday.
It's the spoiled brat market. Dozens of companies this past month posted blow-out earnings but instead of being thankful, investors stomped their feet and sold. The result: The Dow Jones industrial average fell 3.5 percent in January, the worst month for stocks since the depths of the bear market last year.
Citigroup Inc. is ready to start growing again in Japan. The company said Tuesday it will open four retail branches this year, marking the banking giant's first expansion here since selling several of its Japanese finance businesses in the wake of the global financial crisis.
Bank of New York Mellon Corp. says it is acquiring the global investment servicing business of PNC Financial Services Group Inc. for $2.31 billion in cash.
Bowing to the political clout of the insurance and securities industries, the Financial Planning Coalition has given up its effort to get Congress to establish a definition of financial planning that would have brought thousands of insurance and securities brokers and money managers under the sway of an oversight board that the FPC seeks to create.
Bank of New York Mellon Corp. is in talks with PNC Financial Services Group Inc. to buy one of PNC's business units for close to $2.5 billion, The Wall Street Journal reported, citing people familiar with the matter.
In the face of opposition from influential insurance and securities industry groups, the Financial Planning Coalition has moderated its ambition to get Congress to establish a broad regulatory scheme for financial planners.
Investment management is a privileged profession – not just for being paid by X-times what you're really worth to society, but from the standpoint of longevity.
The closed-end fund market has continued on a tear in the first quarter of 2010.
The self regulatory organization ruled that Schwab's human resources group committed “gross negligence, and contributed to the damages suffered” by a former employee who claimed the brokerage had made defamatory comments on his termination notice.
Forty-two percent of surveyed reps plan to boost such spending, while 41% plan to cut spending on bonuses.
The crisis in Greece should serve as a warning to all Americans, especially our political and business leaders.
Stiff competition thwarted many of the nation's biggest RIA firms last year.
