Deals & People

Bank of America announced its plans to raise capital by selling stock and slashing dividend payments, after reporting third quarter results of $1.18 billion, down from $3.7 billion...

San Francisco-based The Online 401(k) announced a partnership with Oakmont Partners, a Boston-based financial consulting and planning firm.

Citigroup continued its fight for Wachovia over the weekend, and the two companies are expected in court later this week.

American International Group (AIG), which has three broker/dealer subsidiaries, is looking for ways to unload business units in a quest to pay back the federal government.

UBS announced 2,000 job cuts, but it appears that the wealth management unit is not in the line of fire.

If you’re still trying to sort through what the Wachovia-Citigroup deal means – don’t bother.

National Investment Managers (NIVM)., a retirement plan administration and investment management company, closed on the acquisition of Pension Technical Services, a third-party administrator (TPA).

Bank of America announced that John Thain, chairman and CEO of Merrill Lynch, will become president of Global Banking, Securities, and Wealth Management in the merged company.

Mercer enhanced its current participant education offering by partnering with independent financial services expert Robert Powell.

Beginning Monday, Bruce Harrington is LPL Financial's new SVP of retirement solutions.

The Morgan Stanley Funds’ Board of Directors/Trustees approved the participation of its money market funds in the U.S. Treasury Temporary Guarantee Program.

Wachovia Retirement Services is one of the business units not going to Citigroup as part of Monday’s acquisition of the Charlotte, North Carolina-based bank.

MassMutual’s Retirement Services Division appointed Brad Harrison to the position of managing director, Midwest region.

William Hart, founder of Chicago-based Hartline Investment Corp., was elected chairman of the board of National Advisors Trust, owned by more than 130 independent financial advisory firms nationwide.

Federated Investors, Inc. and Putnam Investments announced that, upon liquidation, the institutional Putnam Prime Money Market Fund will invest its assets in the Federated Prime Obligations Fund in...