-
-
-
Many community banking companies have wealth management units, but lately more small and midsize wealth managers have been getting into the banking business.
March 10 -
The Securities and Exchange Commission's recent proposals aimed at easing the burdens of providers bringing new exchange-traded funds to market should make new ETF launches an easier proposition while fostering even more product creativity, said investment management sources.
March 10 -
A proposal by the Securities and Exchange Commission to shorten mutual fund disclosure statements is meeting widespread support, and a new rule could take effect by 2009, if not sooner.
March 10 -
Denver-based Transamerica IDEX Mutual Funds group has shortened its name to Transamerica Funds, as it now resides within the larger Transamerica Asset Management Group, under insurance company parent Aegon. Plans are underway to identify and potentially merge redundant or overlapping funds, expand distribution efforts, craft retirement income-based solutions, strengthen the Transamerica brand and build the firm into a future top-tier investment group.
March 10 -
TrimTabs Investment Research said the U.S. economy lost 78,000 jobs in February, based on daily income tax deposits to the Treasury from salaried taxpayers. This number is higher than estimates from the Bureau of Labor Statistics, which reported 63,000 job losses in the same period.
March 7 -
Canadian investors purchased between $5.9 billion and $6.5 billion in mutual funds during the month of February, a significant jump from January sales, according to the Investment Funds Institute of Canada.
March 7 -
Van Kampen Retirement Strategy Trust has filed for 10 new target retirement date funds with the Securities and Exchange Commission.
March 7 -
The British government is considering an overhaul of their tax code for mutual funds that could put the responsibility for declaring income from funds directly on investors, according to foreign news reports.
March 7 -
Integrity Mutual Funds Inc. announced that Bradley Wells will serve as interim president and CEO, following the resignation of Mark Anderson.
March 7 -
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