-
The bonuses and pay packages of the chief executives at Countrywide Financial Corp., Citigroup Inc., and Merrill Lynch & Co. were not made in the interest of the companies shareholders, particularly as the subprime crises was unfolding, according to a report from a U.S. House committee.
March 6 -
The Securities and Exchange Commission has filed an order against a top advisor at Fidelity Investments, after a four-year investigation into the inappropriate use of gifts and the entertainment of prospective clients.
March 6 -
Berkshire Hathaways Warren Buffett has trumped Bill Gates as the worlds richest person, according to Forbes magazine.
March 6 -
PrivateBancorp Inc. has announced that Patrick McQueen will take over as chairman and CEO of The PrivateBank-Michigan.
March 6 -
Assets of the top 10 hedge fund companies in the U.S. grew by more than a third in 2007, despite a combined loss of $24 billion, due to redemptions and faltering performance, the Financial Times writes.
March 5 -
The retail brokerage unit of Bank of America announced it will be cutting the salaries of low-producing brokers and raising those of top performers in an effort to chase wealthier clientele, according to the Dow Jones News Service.
March 5 -
Principal Funds has named Nora Everett as the companys president, replacing Ralph Eucher, who will stay on as CEO and serve as vice chairman of the board. Everett will report to Eucher.
March 5 -
PNC Financial Services Group Inc. has named Stephen Wynne as chief executive of PFPC, PNC's provider of global investment services.
March 5 -
Federal Reserve Chairman Ben Bernanke said Tuesday that more needs to be done to help troubled homeowners, and suggested a broader effort to writedown the principal on some troubled loans, according to Dow Jones.
March 4 -
Europes richest families are shifting their investments from traditional assets to hedge funds and commodities, according to a new report profiled by Reuters.
March 4