Rising trading volumes boosted the London exchange's fiscal-year operating profits by 55% to $367 million.
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 Lynch & Co. Inc. has announced that it will expand its private equity efforts and promote two managers.
The first hedge fund to go public today posted a 52% drop in first-quarter net income.
Rising credit losses and lower trading results took a $35 million bite out of HSBC USA Inc.’s profits during the first quarter.
Fidelity Investments today added international real estate, Canada and small cap funds to their Advisor fund roster.
Euronext, a subsidiary of exchange operator NYSE Euronext, reported record quarterly revenues of $419.8 million, up from $364.5 million the prior year.
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.
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.
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 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.
John Hancock announced today that it is expanding its lifestyle portfolio strategies to include new emerging markets, mid-cap and small-cap values into the funds.
NEW YORK — As some U.S. senators find fault with the arbitration system that resolves client disputes with broker-dealers, the brokerage industry’s largest trade group is defending the process.
LOS ANGELES — City National Corp.’s acquisition of Lydian Wealth Management Co. LLC, which closed this month, marks a bold move by the financial services company to make significant inroads into the ultrahigh-net-worth market.
NEW YORK — Financial advisers and their clients aren’t giving the risk of becoming disabled the attention it deserves, according to disability insurance experts.
OTTAWA — An alternative trading system owned by Canadian banks — the announcement of which this month immediately knocked 12% off the share price of the Toronto Stock Exchange’s parent, TSX Group Inc. — threatens to upset Canada’s capital markets.
NEW YORK — Consumers with low credit scores, many of whom already pay high interest rates on subprime loans, may be paying too much for something else: kits that claim to patch up their credit.
LOS ANGELES — In most of the country, wealth managers deal directly with their clients.
The widely publicized dispute between diet guru Robert Atkins’ widow and the trustees of her trust is a cautionary tale for financial advisers and their clients about what can happen in estate cases, observers say.
LPL Financial Services is playing hardball. Officials at the firm reportedly made it clear to competitor National Planning Holdings Inc. that it needs to step away from recruiting registered representatives from Pacific Life Insurance Co. or it will face consequences.
