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Evercore Partners Inc., the advisory firm founded by former U.S. Deputy Treasury Secretary Roger Altman, said second-quarter profit rose 19% as investment-banking revenue climbed.

Jefferies Group Inc. and Goldman Sachs Group Inc. led Wall Street’s largest securities firms in average compensation per employee at midyear, widening a lead over JPMorgan Chase & Co.

There has been plenty of industry buzz over the past few years around the breakaway advisor movement, a long-term industry trend that is likely to continue. However, little attention has been paid to an equally powerful industry trend: the breakaway client movement.

Scottsdale, AZ-based Longboard Asset Management has launched the Longboard Managed Futures Strategy Fund (WAVIX), a trend following offering.

The Commodity Futures Trading Commission said the futures commission merchant based in Greenwich, Conn., failed to properly supervise the reporting of activity in accounts of large traders.

In a new global survey, Accenture finds opportunity for life insurers to present clearer, more personalized information to win over these masses.

The $99 million inflow reported by the Investment Company Institute for the week ended July 18 does not erase the $11.8 billion pulled out of such funds in the prior six weeks.

The municipal bond market continues to strengthen as positive supply and demand factors this week push tax-exempts higher.

Comments by former Citigroup chief executive Sandy Weill reignited the debate over whether to separate commercial banking from investment banking.

Kamal Mustafa, a former global head of M&A at Citibank who now helps to stress-test banks, fears another earnings crunch is coming and that bank valuations will sink lower than they are now.