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Legg Mason Inc. is firing 62 Batterymarch Financial Management employees as it combines the affiliate with QS Investors, the global quantitative equity firm it’s purchasing this year.

City National Bank hired five wealth management pros in its private client group in California’s central coast region.

The firm lures three separate teams who manage a total of more than $500 million in client assets.

Holding down clients' investment income can reduce exposure to the 3.8% surtax imposed on high-income taxpayers.

Securities Industry and Financial Markets Association president and chief executive officer Kenneth Bentsen criticized recent efforts by the Securities and Exchange Commission to further regulate the muni market, telling issuer officials on Tuesday that a new rule and initiative could undermine productive relationships between municipalities and underwriters.

The Justice Department likely hopes that Credit Suisse's guilty plea to a criminal charge will squash the idea that some large institutions are too important to the economy to prosecute. But experts say the issue is more complicated than that, arguing that the debate will live on. Here's why.

The 'very, very conservative' company is looking for niche deals, not major acquisitions, said CEO Paul Reilly.

UBS grabbed a former Merrill Lynch advisor who managed $500 million in client assets.

Until someone discovers the fountain of youth, one fact of life is unavoidable: We will all get older. And along the way, it is inevitable that many of us will need health care to help us rehabilitate, recover, or just have a good quality of life. In fact, experts say 70% of everyone who reaches 65 will need some type of long-term care during their lifetimes.

When plans for an external sale faltered, Quest Capital Management looked closer to home and found a better solution. Here's what the partners learned.