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Morgan Stanley CFO to retire
Morgan Stanley has announced that David H. Sidwell, executive vice president and chief financial officer, will retire from the company at the end of the year.
Morgan emerging market debt fund bows
Morgan Stanley Investment Management has launched the Morgan Stanley Emerging Markets Domestic Debt Fund Inc., the first U.S. registered closed-end fund to invest principally in emerging markets sovereign debt denominated in the local currency of the issuer.
Demonstrators target Fidelity over Sudan
Thousands of protesters – some bearing signs asking “Is your Fidelity 401(k) funding genocide?” -- gathered in Boston’s Government Center Sunday to protest Fidelity’s investment ties to Sudan.
Citigroup clinches Nikko takeover
With a $13.4 billion offer, Citigroup Inc. yesterday closed on the largest foreign takeover of a Japanese company, Nikko Cordial Corp., according to published reports.
Mack backs Clinton for president
Morgan Stanley & Co. Inc. today confirmed that chief executive John Mack, a registered Republican, has thrown his support behind Democratic New York Senator Hillary Rodham Clinton in the 2008 presidential election, according to published reports.
Fidelity brokerage unit assets rise
Fidelity Investments today said total client assets at its Fidelity Brokerage Co. unit reached a record $1.77 trillion in the first quarter, up 19% from a year earlier.
Schwab offers high-yield checking accounts
Charles Schwab Corp. today announced no-fee checking accounts from Charles Schwab Bank, with an annual percentage yield of 4.25%.
Regulate reps as advisers, says survey
More than 90% of investors surveyed believe that the same investor protection rules should apply to both stockbrokers and financial planners when they offer the same kind of investment advice services, according to a new study.
Janus revenues jump 7%
Janus Capital Group Inc. today announced its profits rose 1% and its revenues increased 7% in the first quarter.
Jefferies names cash equities trading head
Jefferies & Company Inc. today announced the appointment of Edward J. Craig as managing director and head of U.S. Cash Equities Trading.
Franklin profits, revenues beat Street
Franklin Resources Inc.’s second-quarter profits more than doubled due to more inflow into its funds and higher earnings from its investments, the San Mateo, Calif.-based asset manager announced today.
Vanguard to simplify account fees
The Vanguard Group Inc. today said it plans to simplify its account fees, and will also offer ways for investors to avoid them entirely.
T. Rowe Price earnings up 22%
T. Rowe Price Group today announced that its first-quarter earnings rose 22% and that its assets under management reached a new record.
Morgan’s wealth group settles bias suit
Morgan Stanley’s Global Wealth Management Group has announced it will pay at least $46 million to settle a class action filed by eight current and former female financial advisers and registered trainees.
Merrill to acquire stake in Japan bank
Merrill Lynch & Co. Inc. today announced that it will buy a nearly $3 billion stake in Resona Holdings Inc., Japan's fourth-largest bank, according to published reports.
Legg’s Hirschmann stepping down
Legg Mason Inc. today said James W. Hirschmann III has decided to relinquish his responsibilities as president and chief operating officer at the Baltimore-based money management firm.
JP Morgan Chase goes Hollywood
JP Morgan Chase & Co. said it has launched JPMorgan Entertainment Advisors to provide financial and strategic advice, services and products to clients in the entertainment and media businesses.
Director jumps from UBS to JP Morgan
JP Morgan Chase & Co. has tapped Joe Jiampietro, a former UBS AG managing director in the financial institutions and governments team, making him the latest to leave the Zurich-based bank.
Morgan’s Roach to head Asia operations
Morgan Stanley chief economist Stephen Roach, who has predicted that China will surpass the U.S. as the world's leading economy, was tapped to become the firm’s chairman of Asia operations.
Bear Stearns to swell Europe, Asia staff
Bear Stearns is planning a large-scale expansion in Europe and Asia, reported the Financial Times.
