Industry

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.

Coleman Joins Delaware as Head of Distribution

ICI Re-Elects Murphy as Chairman of the Institute

Putnam Investments has named Jeffrey R. Carney as the new senior managing director and head of global marketing and products, effective Oct. 27.

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.

Lord Abbett Promotes 17 Executives to Partner

Morningstar announced Thursday is has acquired Fundamental Data Ltd. of the UK, a closed-end fund data provider based in London, for $19 million, subject to post-closing adjustments.

Following Bank of America’s acquisition of Merrill Lynch, the latter’s chairman and chief executive officer, John Thain, will reportedly remain with the merged entity as head of global banking, securities and wealth management.

When Wachovia Corp. completes the sale of its banking operation to Citigroup Inc., it plans to remain a public company with two main subsidiaries—Wachovia Securities, the nation's third-largest brokerage, and its proprietary investment arm, Evergreen Asset Management.

Evergreen Investments announced Tuesday that its parent, Wachovia Corp., will purchase Lehman Brothers debt held in three of its money market mutual funds: the Evergreen Money Market Fund, Evergreen Institutional Money Market Fund and Evergreen Prime Cash Management Fund.