Portfolio

Sallie Krawcheck, the chief executive officer and chairman of Citi Global Wealth Management, is set to leave the firm, according to a statement from Citigroup, the parent company.

The labor supply may experience shortages in coming years as more Baby Boomers retire, according to a study by KPMG.

FRC Founder Bathon Forms New Company

Former Prudential Broker Pleads Guilty to Timing

Shareholders filed a lawsuit in U.S. District Court in Manhattan against Reserve Funds' Primary Fund for halting redemption of holdings of $10,000 or more on Tuesday due to the fund falling to 97 cents on the dollar.

Investors began a run on The Reserve's Primary Fund last Monday when Lehman's bankruptcy news made them fearful about the money market funds' $785 million exposure to the investment bank's previously blue-chip commercial paper and medium-term notes that had fallen to zero value.

Fidelity Investments reached agreements with New York and Massachusetts officials to buy back at par $300 million of auction-rate securities from its customers by the end of the year, becoming the first retail brokerage firm to settle alleged fraudulent sales practices in the ARS market.

Expect a pop in equity valuations, increased liquidity and lower trading costs as U.S. and foreign corporations list stocks using International Financial Reporting Standards (IFRS). That's according to a working paper published by the University Of Chicago Graduate School Of Business.

CHICAGO - In the coming weeks and months, financial officials and members of Congress will be scrambling to revisit a spate of sunsetting tax and accounting laws before the new presidential administration and Congress take over next year.

Fifty-five brokers with a combined $7 billion in assets under management that have left wirehouses to form their own independent registered investment advisory firm have selected Fidelity as their custodian in the first six months of this year. This is double the new assets Fidelity attracted from breakaway clients in 2007.