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Net income declined to $157.1 million, or 64 cents a share, from $200.3 million, or 82 cents a share, a year earlier. It missed analyst estimates by seven cents.

Boosted by a pair of acquisitions last year, Bank of New York Mellon Corp. reported Wednesday that fourth quarter earnings rose 10%.

The Securities and Exchange Commission has selected Eileen Rominger as director of the division of investment management.

The 84% decline was caused by a repositioning of the investment portfolio and a restructuring charge, which included 1,400 in layoffs and real estate consolidation.

The raft of documents released Tuesday by the Financial Stability Oversight Council gave little sense of what the final regulations would look like for implementing the Volcker Rule, identifying systematically important nonbanks or dealing with other issues involved in Wall Street reform.

Asset managers can use the online resource when preparing a fund launch or moving a fund to a new service provider.

With immediate threats to survivability in the rearview mirror and capital ratios at a comfortable level, Citigroup is finding that earnings-per-share performance matters again.

Executives at Comerica have highly valued Texas expansion for a long time — maybe too much in some eyes, after its big deal announcement Tuesday.

The SEC has fined BNY Mellon $24 million and has banned a former manager of institutional trading at Mellon Securities from associating with any broker dealer firm after carrying out what it called an “eight-year best execution fraud.”

Roth IRA conversions surged last year, particularly in the fourth quarter as investors looked to take advantage of regulatory changes.Bank of America reported that it executed more than 56,000 conversions for its clients last year, nearly 45,000 more than the total number of conversions in 2009.

Global equities are benefiting from an increasingly positive outlook by investors, according to the latest BoA Merrill Lynch Survey of Fund Managers.Just over half of fund managers, 55%, say they’re overweight in global equities, the largest proportion since July 2007. Just last month, only 40% of fund managers said they were overweight in international stocks. The additional assets appear to have come from bonds—54% of fund managers are now underweight in bonds, from 47% in December.

The Charles Schwab Corporation announced on Tuesday that fourth quarter revenues soared 14% year-over-year and December net new assets grew to more than $11 billion, the highest level in 23 months.

The first wave of affluent Baby Boomers, those between the ages of 55 and 64 with investable assets of at least $100,000, have 12% less saved than they did four years ago, a survey of 4,000 people by Cogent Research found.

International fiscal stimuli and expectations of rising inflation tilt the balance in equities’ favor.

BNY Mellon Wealth Management announced on Tuesday that it will now offer its private banking clients Cash Management Access Accounts that will allow them to manage banking and self-directed investments in one place.

The issuance of U.S. Treasuries is set to fall by 16% this year, and tax receipts should jump. Demand for bonds will also increase, both among pensions and individuals and overseas buyers, and quality small cap stocks should rise above the pack. Keefe, Bruyette and Woods suggests shorting stocks that will benefit from rising short-term interest rates.

Leading too fast with solutions can lose you a female prospect, warns Empyrion Wealth Management’s Kimberly Foss.

Client trading activity increased 17% from the third quarter due to stronger market conditions and an upbeat economic outlook.

A new study from Aon Hewitt claims that pension funds for companies located in the U.S., the U.K., Canada and Europe clocked out of 2010 with a 87% funded status, marking a 1% increase from previous numbers.

Mutual funds have emerged as the dominant source of selling pressure for state and local government paper in the new year as investors keep pulling out their money, forcing fund complexes to sell bonds into an already jittery market.