Portfolio

The Depository Trust and Clearing Corp. has enhanced its mutual fund services to include 529 college savings plan information in a streamlined manner for broker/dealers and other financial distributors. New functionality has been added to the transactional hub Fund/SERVE and to network account reconciliation.

Its largest segment, the private-client group, increased revenue 10% but lending woes in its banking unit hampered results for the quarter.

However, the full year results for the division weren’t quite so rosy.

The incoming CEO has a clear preference to make acquisitions in Europe and Asia.

Who, if anyone, will be his successor?

Profits rose from a year earlier in its fiscal third quarter, but declined slightly from the previous quarter.

Rodger A. Lawson, 63, president of Fidelity Investments since 2007, will step down in March. The fund giant will likely select one or possibly three successors from its executive committee, Lawson announced in a briefing Wednesday.

The Supreme Court decided not to review a 401(k) fee lawsuit against Deere and Fidelity that was dismissed by a U.S. District Court in 2007, and again rebuffed a U.S. Court of Appeals a year ago.

With so many investors burned by the across-the-board dismal performance of 2008 and continued volatility into 2009, more are likely to conduct due diligence on hedge funds and exercise greater market discipline, said speakers at a recent conference hosted by Cayman Islands law firm Walkers.

Fitch Ratings has revised its ratings on seven money market funds to its highest score, following the launch of its new rating criteria and rating scale.