Swiss bank UBS AG posted a fourth-quarter profit of 1.205 billion Swiss francs ($1.12 billion) Tuesday, beating analysts' expectations partly thanks to a tax credit, but said rich clients' withdrawals had continued.
The Securities and Exchange Commission will reassess the 12(b)-1 fees collected by brokers as compensation for selling and servicing mutual funds, SEC Chairman Mary Schapiro said today.
Deep-discount broker Scottrade is stepping up the marketing of its products and custody services to registered investment advisers.
Citi Smith Barney and Raymond James Financial Services Inc. have won major arbitration claims involving institutional and individual clients seeking tens of millions of dollars in restitution for the purchase of auction rate securities.
Bob MacDonald, the former chief executive of Allianz Life Insurance Co. of North America, has upbraided The Hartford Financial Services Group Inc. for selecting Liam McGee as its new chief executive, calling the decision “outsourcing taken to a new and more dangerous level.”
Christopher Van Slyke's firm was growing at a rapid clip. His approach to managing the bustling operation, however, lagged far behind
Five millions shares allotted to workers, including officers and sales force leaders
Industry group for insurance and financial advisers gives acting CEO the job on a permanent basis
Robert W. Baird & Co. Inc. has made another addition to its wealth management business, this time snatching a $150 million adviser team from Morgan Stanley Smith Barney LLC.
A new report suggests there's some correlation between the amount of banking expertise on board and the bank's ability to weather the economic crisis
Eight U.S. senators want Congress to oppose International Money Fund and World Bank loans to the government of Antigua and Barbuda until that government compensates victims of Stanford Financial Group. Stanford International Bank was located in Antigua.
The Charles Schwab Corp. could be liable for millions in investors' claims over losses to a short-term-bond fund that blew up this year because of its exposure to mortgage-backed securities.
The high-court's move in a key case could trigger flood of mutual fund lawsuits
Ms. Boesky will work on developing business with institutional investors and strengthening the bank's relationships with clients
The five companies covered are General Motors and its financing arm, GMAC, Chrysler and its financing arm, Chrysler Financial, and AIG.
The agency's boss says the securities regulator is examing the actions of several companies in the run-up to the financial crisis
To deal with a rising-rate environment, the fund manager has built a 44% position in bonds that have yields that adjust in relation to the London Interbank Offered Rate.
While the national average cost of home health care increased last year, expenses vary from city to city.
