Mergers between employee benefit and financial advisory firms may become common as they set their combined sights on baby boomers’ retirement assets, according to industry observers.
An Italian judge has ordered Bank of America to stand trial in connection with the 2003 collapse of Italian dairy company Parmalat SpA.
UBS picked deputy group CEO Marcel Rohner to helm the company, replacing Peter A. Wuffli.
A specialty insurer said that two of its employees received Wells notices from the SEC's division of enforcement.
Commerce Bank N.A. of Cherry Hill, N.J. has announced the departure of chairman and CEO Vernon W. Hill.
HSBC Holdings has applied for a life insurance license with a Chinese partner and expects to begin operations in that country by 2008.
LaSalle Bank is cutting 100 more jobs than previously announced, but none of the additional reductions will come from the Chicago area.
The Security Benefit Group of Companies today announced it will acquire Rydex Investments.
National Penn Bancshares will acquire Christiana Bank & Trust Co. for about $56.5 million in stock and cash.
New York Life will launch a series of five target-date funds called the MainStay Retirement Funds.
An adviser to the Dutch high court said ABN Amro can sell LaSalle without shareholder approval.
New York Life Insurance Co. said on today that its COO, Theodore Mathas, would add president to his title as of July 1.
John Hancock will pay $21.2 million to settle an investigation of the firm's failure to disclose revenue sharing schemes.
AXA Equitable Life Insurance Co. has named Kenneth T. Kozlowski vice president of its Funds Management group.
Bank of America said it lost about $450 million from the bankruptcy of Parmalat after relying on "fraudulent misrepresentations" made by the Italian dairy company.
Two powerful bank trade groups today announced plans for a merger.
The SEC is looking at possible problems involving revenue sharing payments made by funds of funds.
Bank sales of variable annuities that invest in mutual funds continue to grow but are outpaced consistently by those of mutual funds. That’s a function of periodic adverse publicity combined with compliance hassles, observers say.
Treasury Secretary Henry Paulson will propose an anti-money laundering framework for small banks tomorrow, The Wall Street Journal said.
Maurice R. Greenberg has sued current and former AIG directors and management, as well as PricewaterhouseCoopers.
