Portfolio

Bloomberg -- UBS AG, Switzerland’s largest bank, agreed to pay $120 million to settle claims by investors in Lehman Brothers Holdings Inc. securities in a lawsuit tied to the investment bank’s 2008 collapse.

Many wealthy business owners are increasingly confident about their finances despite the slow economic recovery. According to the latest survey from Northern Trust, half of high-net-worth business owners are feeling better off in their personal financial situation than five years ago. The number that are confident they will achieve their personal financial goals reaches 69%.

Six in 10 penta-millionaires chose absolute returns and total assets to gauge their success, nearly identical to people in the lower-tier mass affluent segment.

The Federal Reserve governor leading the central bank’s effort to tighten financial regulation has a decision to make as its governing board is reshaped: Should he stay or should he go?

ING U.S. Investment Management has appointed Bas NieuweWeme as Managing Director and Head of Institutional Distribution. NieuweWeme, will oversee the institutional business, setting strategic direction across U.S. and international sales, consultant relations, RFPs, client service and relationship management. He will report to Shaun Mathews, Executive Vice President and Head of the Client Group.

A terminal diagnosis for Simpson's co-creator Sam Simon pushed him to immediately address his estate and charitable giving plans. His story offers an important lesson for your clients.

Work-life balance can be difficult to achieve for some. While working on a family vacation, new solo advisor Dave Grant began to wonder if he was addicted to work. Are you?

Fund sponsors have long debated the relative merits of building, buying or outsourcing fund administration technology. As sponsors face more and more data-driven demands from regulators and investors, there is increased pressure to adopt new efficient technologies for fund administration process such as expense payments and budgeting, regulatory reporting and financial reporting.

Americans renouncing U.S. citizenship surged sixfold in the second quarter from a year earlier as the government prepares to introduce tougher asset-disclosure rules.

Morgan Stanley and Co. has agreed to pay $100,000 to the New Jersey Bureau of Securities. This came after Bureau investigators found the company was in violation of state securities laws and regulations in its sale of non-traditional exchange-traded funds to investors.