Less than a week after Citigroup Inc. agreed to purchase Old Lane LP and tap Vikram Pandit, its founder, to become head of Citi Alternative Investments, Citigroup’s Dean Barr has resigned as head of liquid markets.
Merrill Lynch & Co. Inc.'s first-quarter profits increased 31% from a year ago, when it took a charge related to its acquisition of BlackRock Inc. the company reported today.
Lehman Brothers Holdings Inc. has appointed Kunho Cho as its first Asia-based vice chairman, according to published reports.
Amvescap PLC chief executive Martin Flanagan's 2006 pay package was less than half of his compensation in 2005, according to a Financial News report.
Knight Capital Group Inc. posted a 35% drop in first-quarter profits on lower revenues and a loss from discontinued operations, falling short of analysts estimates.
JPMorgan Chase & Co. posted a 55% increase in quarterly earnings, energized by gains in its investment banking and asset management businesses.
Morgan Stanley has hired Blair Pickerell as its managing director and head of investment management for Asia, according to published reports.
State Street Corp. posted an 11% increase in net income on stronger servicing and investment management fees, which boosted revenue to a record level.
Charles Schwab Corp. posted a 12% increase in net income for the first quarter, as new customers increased assets in client accounts.
Wachovia Corp. shareholders have approved two proposals by the company's board that will affect how directors are elected and how often.
Mellon Financial Corp. reported a 22% increase in first-quarter profit after an acquisition helped boost its assets over the $1 trillion mark.
Jefferies Group Inc. announced record quarterly investment banking revenues, net revenues, net earnings, and earnings per share, according to a statement released today.
Wells Fargo & Co. posted an 11% increase in first-quarter profit, resulting from growth in lending and a higher-net interest margin, which set off increasing credit losses.
TD Ameritrade Holding Corp. posted an 18% drop in second-quarter net income today, one year after the company recorded its largest one-time gain.
Along with the layoffs and cost cutting unveiled last week by Citigroup Inc. came rumors that the company’s Smith Barney brokerage unit was destined for a spinoff.
A year after taking over retail at Morgan Stanley — amid much skepticism — James Gorman has made believers out of most of the firm’s troops.
Charles R. Schwab last week called the fundamental indexes underlying his company’s three newest mutual funds “a better mousetrap,” but The Vanguard Group Inc. and Barclays Global Investors smell a rat.
Merrill Lynch & Co. analysts are mad as hell that people are simultaneously belittling and stealing their investment ideas, according to Crain's New York Business.
OptionsXpress Holdings Inc. announced today that it promoted its chief financial officer to the role of president and its chief operating officer to the role of executive vice-chairman, according to published reports.
Morgan Stanley today posted a 69% increase in first-quarter profits on strong advisory fees from higher trading levels and increased investment banking fees.
