The job cuts mark the largest decrease since November 2002, according to the monthly ADP National Employment Report.
Former chief executive Martin Sullivan's package includes equity and cash awards valued around $28 million.
“In a soccer match of 90 minutes, we think we are in the 80th minute of decline of the dollar, said Morgan Stanley's David Darst.
The national manufacturing sector grew in June for the first time since January, according to the Institute for Supply Management.
Hedge fund investors now have the ability to insure themselves against fraud or even the allegation of fraud.
The deal makes Hartford-based ING Wealth Management the third largest defined contribution business in the country.
Billionaire money manager Jeffrey Epstein was sentenced to 18 months in jail for soliciting prostitution.
Analysts concerned about Security Benefit Life Insurance Co.'s investments in subprime-mortgage-backed securities have cut the firm's financial ratings and are keeping a careful eye on the Topeka, Kan., carrier.
Ted Mathas' promotion makes him the New York-based company’s 18th CEO in its 163-year history.
The model aims to create an industry standard to streamline the process of selling VA contracts and simplify compliance.
The immediate reality of higher energy and food prices is putting some Americans even further behind the eight ball when it comes to retirement savings, according to a new survey on consumer spending habits.
Concerns about supply disruptions and tension in the Middle East sent crude oil prices to a new record in early morning trading.
Merrill Lynch is leading the charge as top U.S. wealth managers increasingly seek to grow their businesses by expanding overseas.
The combined total launches last year of exchange traded funds, variable annuities and closed-end funds surpassed open-end mutual fund launches for the first time, according to Boston-based research firm Cerulli Associates Inc.
AIG Advisor Group, continuing to play a game of musical chairs with the executives in charge of its various broker-dealers, has replaced James Cannon with Jeffrey Auld as president and chief executive of both AIG Financial Advisors Inc. of Phoenix and American General Securities Inc. of Houston.
Personal-injury lawyers are once again jumping into the risky — and costly — arena of securities litigation, teaming up with plaintiff's attorneys to troll for clients who claim that broker-dealers wronged them when they bought auction rate securities.
AIG Advisor Group continues to play a game of musical chairs with the heads of its various broker-dealers, this time replacing James Cannon with Jeffrey Auld, who becomes president and chief executive of both AIG Financial Advisors Inc. of Phoenix and American General Securities Inc. of Houston.
Confidence among U.S. consumers continued to erode in June as Americans prepared to deal with a still-worsening economy in the months and years ahead.
Being a contrarian and seeking out companies that other managers ignore could be the key to a successful strategy, said asset managers.
American International Group Inc. has been hit with $13 billion in write-downs over the past year stemming from the securities lending accounts of 12 of its insurance units.
