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Morgan Stanley is eliminating 1,000 jobs as it scales back its residential mortgage operations in the U.S. and closes operations in the U.K., Reuters reports, citing Morgan Stanley information. More than 100 other mortgage lenders have cut jobs in the last year as the housing crisis worsens.
February 14 -
The credit crunch is crunching another corner of the market: securities tied to student loans, according to the Wall Street Journal.
February 12 -
Swiss private bank Julius Baer Holdings on Tuesday said it is preparing an initial public offering for sometime this year for its U.S.-based mutual funds unit.
February 12 -
Prudential Retirement announced today that it has entered into an external partner distribution agreement with The Newport Group to offer Prudential IncomeFlex, Prudentials 401(k) retirement income solution. Under the terms of the agreement, Newport, a leading retirement services and investment advisory firm, will provide fully integrated access to IncomeFlex to its new and existing clients.
February 11 -
On Monday, Fidelity Investments announced total brokerage client assets had reached a record $1.99 trillion in the fourth quarter, a 17% increase from a year ago.
February 11 -
A record 15,594 new equity trade ideas were entered into the Repository and Distribution Centre in January 2008, up 152% from 6,191 ideas entered last January.
February 11 -
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A Meeting of the Minds: Retirement Income Roundtable At SourceMedia New York Headquarters on Jan. 28, 2008
February 11 -
Delegating key business operations to third-party providers such as custodians, administrators, distributors and transfer agents is certainly not new to asset managers. It is a traditional investment management business model which has been refined over the years with increasing third-party interaction.
February 11