More private equity firms in Australia are eyeing exit strategies by floating companies in the wake of U.S. buyout group TPG'slaunch this week of Myer's $2 billion initial public offering.
Citigroup completed the sale of its Japanese brokerage Nikko Cordial Securities to Sumitomo Mitsui Financial Group, one more step in the U.S. bank's plans to shed non-core assets.
Citigroup completed the sale of its Japanese brokerage Nikko Cordial Securities to Sumitomo Mitsui Financial Group , one more step in the U.S. bank's plans to recoup losses from the financial crisis.
Bank of America Corp said on Wednesday six internal candidates are in the running to take over from Chief Executive Kenneth Lewis when he retires at the end of the year. All six are on the executive management team, four are long-time Bank of America staff and just one -- Tom Montag -- joined through the bank's acquisition of Merrill Lynch & Co.
JPMorgan Chase's investment bank is planning a push to win more business outside the United States by building on the group's financial ties with overseas companies, its head Jes Staley told the Financial Times.
Beleaguered Bank of America Corp said Chief Executive Ken Lewis will retire by year's end and his successor is yet to be determined, the bank announced late Wednesday.
Bank of America chief executive officer Ken Lewis will soon inform or has already informed his board of directors that he will be stepping down by the end of the year, according to CNBC.
Bank of America Corp's deal to sell part of its Columbia Management business for about $1 billion is a boost for its effort to unload unwanted assets and raise capital, but the low price suggests it is still facing a buyers' market.
After a very tough first three months of the year, U.S. economic output rebounded sharply in the April through June period, according to a third gross domestic product estimate released today.
Clean technology has for the first time become the top category in U.S. venture capital investment, eclipsing biotech and software, as private money follows the government's lead, the Cleantech group reported.
U.S. stocks were mostly flat on Wednesday, on a volatile last day of a strong third quarter, as a disappointing report on Midwest business activity was offset by gains in commodities and tech.
Talks between Bharti Airtel and MTN Group to create the world's third-largest mobile operator collapsed for the second time in just over a year on Wednesday.
Man Group, the world's largest listed hedge fund firm, said slowing outflows helped lift assets to an estimated $43.8 billion at end-September, at the top end of forecasts, boosting its shares.
(Corrects age of Staley to 52 in paragraph 8 and corrects paragraph 13 to show Winters was in London, Black in New York)
Bank of America Corp has struck a deal to sell a long-term asset management business, part of its Columbia Management division, to Ameriprise Financial Inc for about $1 billion.
European shares look set to finish the third quarter with their best performance in nearly a decade on expectations of economic recovery while world stocks also rose strongly though not as much as in the previous period. The pan-European FTSEurofirst 300 index put on 0.4 percent on Wednesday and the MSCI world index added the same, while commodity prices were also firmer but the do...
Asian shares edged higher on Wednesday looking past a surprise fall in U.S. consumer confidence and the Australian dollar jumped to a 13-month high after August retail sales data beat forecasts.
Hartford Financial Services Group Inc named a former Bank of America Corp executive to be its new CEO, and he already has plans to introduce enhanced risk management after record losses at the 199-year-old insurer.
UBS AG said on Tuesday it hired a Morgan Stanley investment banker to head its insurance practice in North America, months after it lost two senior insurance bankers to Greenhill & Co.
Hartford Financial Services Group Inc named a former Bank of America Corp executive to replace its chairman and CEO, Ramani Ayer, who had announced plans to retire in June after the 199-year-old insurer struggled with record losses.
The current boom in U.S. initial public offerings does not signal a free-for-all for prospective companies, which are closely watching the mixed performance of IPOs this week and last, the head of listings at the New York Stock Exchange parent company said on Tuesday.
Private equity firm CCMP Capital Advisors said on Tuesday it hired former Anadarko Petroleum Corp Chief Operating Officer Karl Kurz to help with the firm's energy investments.
