Credit Suisse Group announced it was acquiring a majority interest in Asset Management Finance Corp. of New York from National Bank Financial of Canada.

Citigroup plans to revamp its capital markets business under its investment-banking arm.

The chairman of South Korea's Financial Services Commission, Jun Kwang-woo, spoke out Monday about last week's reports that state-controlled Korea Development Bank was possibly interested in buying Lehman Brothers.

U.S. investment bank Lehman Brothers is considering shedding part or all of its money management division in order to raise capital and ease real estate losses, according to the International Herald Tribune.

Genworth Financial in Richmond, Va., has launched a new wealth management division, Genworth Financial Wealth Management. The launch completes the integration of two Genworth companies: AssetMark Investment Services, which it acquired in October of 2006, and Genworth Financial Asset Management.

FolioDynamix, a provider of unified managed accounts technology and services, has acquired SunGard Advisory Technologies, which provides investment management and wealth management platform solutions to financial services organizations nationwide, including brokerage firms, RIAs, asset management firms and banks.

Nationwide Mutual Insurance Co. of Columbus, Ohio, said it has agreed to buy all of the outstanding publicly held class A common stock of Nationwide Financial Services Inc.

Investment firms will continue to hone their specialties and look to raise capital through mergers and acquisitions throughout the rest of the year, according to a report by Jefferies Putnam Lovell.

Several struggling banks desperate for capital are now considering selling their money-management units, according to The Wall Street Journal.

The Royal Bank of Canada (RBC) recently announced its acquisition of 10% interest in the O’Shaughnessy Asset Management (OSAM) firm.

President and CEO of Federated Investors, Inc., J. Christopher Donahue, recently announced Federated’s acquisition of assets associated with the Prudent Bear and Prudent Global Income Funds. Federated is set to purchase these assets from David W. Tice & Associates at an initial price of $43 million with future contingent payments over the next four years of up to $100 million. These funds have an estimated net worth of $1.2 billion and $502 million, respectively.

Ameriprise Financial finalized a $440 million deal to purchase J&W Seligman in the fourth quarter. The addition of Seligman will provide Ameriprise with addition outlets to sell its mutual funds and further improve its hedge fund business.

Earlier this week, John Templeton sadly passed away at the age of 95. Templeton created the Templeton Growth Fund back in 1954, but many articles about his passing avoided this subject when they summarized his life.

ING Group NV of the Netherlands has completed its $900 million purchase of CitiStreet LLC from Citigroup Inc. and State Street Corp.

Back in 2005, the chances that Amvescap, now Invesco, would make a 360-degree turnaround seemed virtually impossible, but with a little bit of time and the addition of Martin Flanagan as chief executive officer, the unlikely actually occurred, Institutional Investor reports.

Bowne & Co. recently acquired Capital Systems for $13 million.

Cash-strapped banks are hoping the Federal Reserve will loosen restrictions keeping private-equity firms from giving them capital, according to The Wall Street Journal.

Capital One Funds’ board has approved a transfer of assets from each of its six fund portfolios to comparable funds at Fidelity, according to a filing with the Securities and Exchange Commission. The agreement, pending shareholder approval, would go into effect in October.

Goldman Sachs and Deloitte & Touche LLP announced they had finalized plans to unload a portion of a $7 billion structured investment vehicle, which was set up by U.K. hedge fund manager Cheyne Capital Management LLP, according to a recent report by Bloomberg.

As JPMorgan Chase begins to remove the Bear Stearns name from its buildings, the firm is taking the opportunity to enhance its own brand identity, The New York Times writes.