Investments

Third-quarter annuity commissions rose 12.9% to $669.8 million from the previous quarter.

The Depository Trust and Clearing Corp. has enhanced its mutual fund services to include 529 college savings plan information in a streamlined manner for broker/dealers and other financial distributors. New functionality has been added to the transactional hub Fund/SERVE and to network account reconciliation.

Its largest segment, the private-client group, increased revenue 10% but lending woes in its banking unit hampered results for the quarter.

However, the full year results for the division weren’t quite so rosy.

The incoming CEO has a clear preference to make acquisitions in Europe and Asia.

Who, if anyone, will be his successor?

Profits rose from a year earlier in its fiscal third quarter, but declined slightly from the previous quarter.

Rodger A. Lawson, 63, president of Fidelity Investments since 2007, will step down in March. The fund giant will likely select one or possibly three successors from its executive committee, Lawson announced in a briefing Wednesday.

The Supreme Court decided not to review a 401(k) fee lawsuit against Deere and Fidelity that was dismissed by a U.S. District Court in 2007, and again rebuffed a U.S. Court of Appeals a year ago.

With so many investors burned by the across-the-board dismal performance of 2008 and continued volatility into 2009, more are likely to conduct due diligence on hedge funds and exercise greater market discipline, said speakers at a recent conference hosted by Cayman Islands law firm Walkers.

Fitch Ratings has revised its ratings on seven money market funds to its highest score, following the launch of its new rating criteria and rating scale.

Jefferies on Wednesday launched the TR/J CRB Wildcatters Exploration & Production ETF, an exchange-traded fund that tracks the Thomson Reuters/Jefferies CRB Wildcatters Energy E&P Equity Index and trades on NYSE Arca.

In an effort to help educate investors, the Municipal Securities Rulemaking Board yesterday issued a “fact sheet” containing seven questions they can ask their financial professionals when considering investing in municipal bonds.

Claim SEC Exceeded Its Authority

While 64% of life insurance producers say they are “very likely” to stay with their current company, almost 20% would consider switching firms if the company culture, style and support more closely matched their own, according to a new study entitled “It’s All About Me,” published by LIMRA, a worldwide research, consulting and professional development organization.

Jefferies on Wednesday launched the TR/J CRB Wildcatters Exploration & Production ETF, an exchange-traded fund that tracks the Thomson Reuters/Jefferies CRB Wildcatters Energy E&P Equity Index and trades on NYSE Arca.

Fitch Ratings has revised its ratings on seven money market funds to its highest score, following the launch of its new rating criteria and rating scale.

Financial institutions will increase information technology spending 2.9% in 2010, after cutting budgets by 2.5% in 2009, according to research and consulting firm Celent.

While Bank of New York Mellon Corp. waits for interest rates to rise, the banking company plans to continue to look for ways to control costs this year as it expands its asset management and asset servicing businesses overseas.

Analysts had expected more companies to bid for Alico, but worries have arisen about how liquid AIG’s units are and how likely it would be to find a buyer.