Fri, Mar 7 2014
NEW HAVEN, Connecticut - A federal jury on Friday found former Jefferies Group Inc trader Jesse Litvak guilty of defrauding clients on mortgage bond trades made after the financial crisis.
BOSTON - Hedge fund manager John Paulson's returns soared last month as gold rallied and bets on telecommunications and energy companies paid off.
BOSTON - After years of complaining about high fees and lackluster returns, hedge fund investors have something new to grumble about: It is getting harder to see even the most basic data about what's happening with their money.
- BB&T Corp's brokerage unit said on Friday it hired two veteran advisers from Morgan Stanley.
- Bill Gross, the co-founder and co-chief investment officer of Pacific Investment Management Co, has accused departing CEO Mohamed El-Erian of seeking to "undermine" him by talking to The Wall Street Journal about deepening tensions between the two executives who have been jointly running the world's largest bond house.
BOSTON - Fidelity Investments on Friday named Nancy Prior as president of its fixed-income unit, with more than $750 billion in assets, continuing to boost the power of insiders.
NEW YORK - Investors worldwide poured $7.5 billion into stock funds in the week ended March 5 on reassuring signs the U.S. economy was on firm footing and reduced geopolitical tensions, data from a Bank of America Merrill Lynch Global Research report showed Friday.
NEW YORK - Vanguard Group, the No. 1 U.S. mutual fund company, on Friday took a step towards offering exchange-traded fund versions of dozens of its well-known actively managed mutual funds.
CHICAGO - Most of Sophia Bera's financial planning clients have never met her in person, and they don't seem to care.
NEW YORK - It doesn't matter how famous, or how important or how rich the person is - virtually everyone likes to stroll down memory lane and reminisce about their first job, which was usually very menial and extremely low-paid.
Regardless what voters decide in the November elections, there will be a major changing of the guard next year in the U.S. Congress as result of a number of key retirements.