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Fidelity Investments might lay off as many as 9%, or 4,000, of its 44,500 global workforce by early next year, according to reports. That would be a considerable cut, on top of 1,000 who have been laid off in the past year through three rounds.
October 28 -
Banks and other financial companies that are willing to stomach a few more quarters of volatility could find themselves well positioned to acquire wealth management companies or talent, according to analysts and industry executives.
October 27 -
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Following its $50 billion acquisition of Merrill Lynch, Bank of America plans to move the major part of its wealth management from Boston to New York, The Boston Globe reports. That means that BoAs U.S. Trust private banking unit and Columbia Management mutual funds groups will also make the move.
October 23 -
The Depository Trust and Clearing Corporation (DTCC), the largest financial clearinghouse in the U.S., is in talks to merge with its European rival LCH.Clearnet in a deal worth approximately $950 million.
October 22 -
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Putnam Investments has named Jeffrey R. Carney as the new senior managing director and head of global marketing and products, effective Oct. 27.
October 9 -
The credit crisis fueled a substantial 33% increase in asset management mergers and acquisitions in the third quarter, compared to 3Q07, Jefferies Putnam Lovell announced Tuesday. There were 69 M&A deals across the globe, up from 52 a year earlier.
October 7 -