NEW YORK — When veteran money manager James H. Huguet decided to bring to a broader audience the large-cap approach he uses for separately managed accounts, he decided to forgo creating a conventional mutual fund.
BOSTON — Labor activists are using a Securities and Exchange Commission rule requiring mutual fund proxy disclosure to ratchet up the pressure on executive compensation that they consider excessive.
The mutual fund giant said that it has started offering 401(k) plans an online platform that participants can use to purchase annuities.
WASHINGTON — Financial advice professionals who routinely log 60-hour workweeks may be spinning their wheels, a new report suggests.
Charles Schwab Corp. has reduced account opening minimums for all of its main brokerage and retirement accounts and eliminated minimums for many others, the firm announced today.
JPMorgan Chase & Co. chief executive T. Timothy Ryan has withdrawn himself from consideration to be the Department of the Treasury's top international policy adviser, according to published reports.
Another top executive has walked away from the Pacific Select Group LLC, the soon-to-be-dismantled broker-dealer network of Pacific Life Insurance Co. of Newport Beach, Calif.
Online brokerage firm optionsXpress Holdings Inc. reported an 18% increase in first quarter profit, helped out by an increase in new accounts, but fell short of Wall Street expectations.
E*Trade Financial reported a 19% increase in first quarter profit on growth in client assets.
BlackRock Inc. posted a whopping 176% jump in first-quarter net income as demand for its products has improved following its merger with Merrill Lynch & Co. Inc.'s asset management unit last year.
CBOT Holdings Inc. posted a 58% increase in net income due to higher trading volume, the exchange announced today.
Bank of America Corp. recorded a 5% increase in first quarter net income, as fee income rose despite a challenging credit environment.
Nasdaq Stock Market Inc. posted a disappointing 1.7% increase in first quarter net income due to charges related to its failed bid to acquire the London Stock Exchange.
Jackson National Life Insurance Co. today reported total sales of nearly $3.5 billion in the first quarter, up 21% from the same period a year ago.
Fidelity Investments’ vice chairman and chief operating officer, Robert Reynolds, announced his retirement today and Ellyn McColgan was named president of distribution and operations.
Less than a week after Citigroup Inc. agreed to purchase Old Lane LP and tap Vikram Pandit, its founder, to become head of Citi Alternative Investments, Citigroup’s Dean Barr has resigned as head of liquid markets.
Merrill Lynch & Co. Inc.'s first-quarter profits increased 31% from a year ago, when it took a charge related to its acquisition of BlackRock Inc. the company reported today.
Amvescap PLC chief executive Martin Flanagan's 2006 pay package was less than half of his compensation in 2005, according to a Financial News report.
Lehman Brothers Holdings Inc. has appointed Kunho Cho as its first Asia-based vice chairman, according to published reports.
The Bank of New York Co. Inc, parent of Jersey City, NJ-based Pershing LLC, posted a 3% increase in net income during the first quarter.
