Citigroup announced on Thursday that its second quarter profits were down 73 per cent to a 6 year low, after setting aside $4.95 billion for legal costs related to its role in several corporate scandals. The bank said net income
Investors Bank & Trust has reported a 63% increase in earnings over the 2nd quarter of 2003. The bank enjoyed a 26% increase in revenue over the same period. Total assets processed for clients are now at $ 1.2 trillion,
The South Korean government has named preferred bidders for two state owned asset managers on Wednesday, including a group involving billionaire hedge fund financier George Soros. For the potential buyers of the firms, which analysts have estimated to be worth
Liberty Insurance Services (LIS) said it has signed an agreement with Merrill Lynch Life Insurance Company to administer an in force block of variable and traditional life insurance policies. LIS will provide day to day management and complete back office
Citigroup is to move 1,600 technology jobs out of Manhattan to Warren Township, New Jersey, New York Mayor Michael Bloomberg confirmed on Tuesday. In addition, the bank will hire another 650 employees over the next two years to work at
Mutuakl fund research and fund of funds manager Forsyth Partners has appointed three new International Sales Directors. Geoffrey Tait is joining as Sales Director Third Party Relationships. The position will be based in Jersey. Tait is a sales director with
Mellon GSS has been awarded a contract to support TIAA CREF's new institutional asset management unit. Mellon will provide the unit with middle and back office outsourcing, accounting and custody, while its affiliate, Russell Mellon, will supply performance measurement and
A survey of the market shares of primary dealers in the Hungarian government bond market by the Hungarian Debt Management Agency (AKK) of activity between July 2003 and June 2004 has put ING Bank Hungary in pole position.
Oslo Brs recorded post tax profit of NOK 16.3 (15.8) million in the second quarter of 2004. The high activity in first quarter was far lower in the second quarter, but the first six months was still the best ever
The Life Insurance Association (LIA) and Society of Financial Advisers (SoFA) in the UK are planning to merge the two organisations, to create the UK's largest representative body for financial advisers. The two boards have signed heads of agreement to