Investment Weekly News back issues from July 2009:
FundQuest Signs Fifty New RIAs and Broker-Dealer Firms for Outsourced Technology, Back-Office, and Investment Research.
Jul 04, 2009 ... Over the past nine months, fifty advisory firms ranging from $25 million to more than $9 billion in assets have selected FundQuest to help them control costs and accelerate growth through outsourced technology, back-office, and investment research services. FundQuest, a leader in ...
Skilled Healthcare Group Announces Expected Financial Restatement Related to Accounts Receivable Reserves.
Jul 04, 2009 ... Skilled Healthcare Group, Inc. (NYSE: SKH) announced that, based on a preliminary review by management, the Company expects to restate its consolidated financial statements for the quarterly and annual periods from January 1, 2006 through March 31, 2009. As a result, the Audit Committee of ...
William Mills Agency To Provide Public Relations Support for SourceMedia and Financial Insights-Sponsored 2009 FinTech Rankings.
Jul 04, 2009 ... William Mills Agency, the nation's largest independent public relations firm serving the financial industry, announced that it has again been selected to provide public relations services to SourceMedia publications, American Banker and Bank Technology News, and Financial Insights, an ...
Neiman Marcus, Inc. Reports Third Quarter Results.
Jul 04, 2009 ... Neiman Marcus, Inc. reported financial results for the third quarter of fiscal year 2009. For the 13 weeks ended May 2, 2009, the Company reported total revenues of $810.1 million compared to $1.06 billion in the prior year. Comparable revenues decreased 25.1 percent. Operating earnings ...
Devon Bank and IBT Celebrate 29 Years of a Successful Partnership.
Jul 04, 2009 ... Integrated Bank Technology (IBT), a company that specializes in providing core processing and imaging software applications for in-house and ASP environments for financial institutions across the country and provides 24/7 support services, announced that it recently celebrated 29 years of ...
Wolters Kluwer Financial Services Offers New Compliance Consulting Solutions for Financial Institutions.
Jul 04, 2009 ... Wolters Kluwer Financial Services announced that it has expanded its compliance offerings to include consulting solutions for the U.S. securities industry and financial institutions in the U.K. This new service was developed in response to requests from financial firms, which ...
Ivy Funds Introduces Municipal High Income Fund.
Jul 04, 2009 ... Ivy Funds this week announced the introduction of the Ivy Municipal High Income Fund, which carries the same manager and performance history (I Class share only) as the Waddell & Reed Advisors Municipal High Income Fund, incepted in 1986. "We believe that the tax relief ...
Dr. Quincy Krosby Joins Prudential Annuities as Chief Market Strategist.
Jul 04, 2009 ... Prudential Annuities, the domestic annuity business of Prudential Financial, Inc. (NYSE:PRU), announced that Dr. Quincy Krosby has joined the firm as Chief Market Strategist, a newly-created position. She will report to Timothy Cronin, head of Investment Management for Prudential ...
MFI-Miami Warns Consumers About New Mortgage Rip-Off by Closing Agents.
Jul 04, 2009 ... MFI-Miami, LLC, a mortgage fraud investigation company, announced that it's calling on state and federal agencies to investigate closing agents and closing attorneys. These agents and attorneys have been charging homeowners for copies of mortgage documents. Stephen Dibert, ...
Riverfront Celebrates First Anniversary by Announcing RBC Wealth Management as Newest Partner; Assets Cross $800,000,000.
Jul 04, 2009 ... Riverfront Investment Group, LLC, a Richmond, Virginia-based registered investment advisor, celebrated the first anniversary of their fully staffed firm by being added to another major US financial institution's consulting services platform. RBC Wealth Management, headquartered in ...
Confluence Whitepaper Outlines Hedge Fund Reporting and Control Challenges.
Jul 04, 2009 ... Confluence, the global investment management industry's leading provider of automated data management solutions, announced a new whitepaper for hedge fund administration executives. Entitled "Hedge Fund Reporting: The Change Imperative," the new whitepaper discusses why hedge fund ...
Nexxo Financial Sees Growth Offering Profitable and Effective U.S. Remittance Model to Latin American Institutions.
Jul 04, 2009 ... Nexxo Financial Corporation, the leader in self-serve remittance to the U.S. Hispanic market, has completed two acquisitions and transformation of remittance branches in the U.S. Formerly owned and operated by banks in Central America, Nexxo Financial has changed the branches with its ...
Fidelity National Information Services' Profile Core Processing System Available on IBM z/OS Mainframe.(Company overview)
Jul 04, 2009 ... Fidelity National Information Services(R) (NYSE:FIS), (FIS(TM)), a global leader in processing and technology solutions for financial institutions, announced the availability of its strategic, real-time core processing solution, FIS Profile, on the IBM System z operating system, allowing ...
The Bank of the Pacific Achieves Remarkable Results.
Jul 04, 2009 ... With difficult economic times facing the industry, many financial institutions are looking for ways to reduce branch expenses, while maintaining or improving service. The Bank of the Pacific is a financial institution that found the winning combination. Thirteen months after ...
Mariner Investment Group to Sell Assets of Mariner Municipal Managers LLC to MacKay Shields LLC.
Jul 04, 2009 ... Mariner Investment Group, a manager of alternative investment products, has signed a definitive agreement to sell the assets of Mariner Municipal Managers LLC (M3) of Princeton, New Jersey to MacKay Shields, LLC. Upon the deal's closing, all employees of M3 will join MacKay, forming a new ...
Helping Financial Professionals Grow their Retirement Income Business.
Jul 04, 2009 ... Recent market volatility has sparked a surge in demand for products that provide guaranteed income. Financial professionals who understand how to help clients lock in an income for life can build their book of business. The new Income Annuity Training Guide from the Principal ...
BlackRock Agrees to Acquire Barclays Global Investors, Including Its Market-Leading iShares Business.
Jul 04, 2009 ... BlackRock, Inc. (NYSE: BLK) announced it has executed a purchase agreement to acquire Barclays Global Investors ("BGI"), including its market-leading ETF platform, iShares, from Barclays PLC ("Barclays"). The combination of BlackRock and BGI would bring together market leaders in active ...
Nova Natural Resources to Accept Private Placement from HS Financial Management Group.
Jul 04, 2009 ... Nova Natural Resources Inc. (OTCBB:NVNJ) announced a definitive agreement to accept a Private Placement Investment by HS Financial Management Group in an all-for-current asset transaction valued at approximately C$1Million. This transaction will HS Financial Management Group to become the ...
Capula Investment Management Names Angel Serrat Chief Strategist.
Jul 04, 2009 ... Capula Investment Management LLP, an active fixed income investment firm with approximately $3.5 billion in assets under management, announced that Angel Serrat, former Global Head of Research for JP Morgan Global Proprietary Trading, has joined the firm as Chief Strategist. In this newly ...
Hanover Real Estate Partners Announces Lease Extension with Bank of the West.
Jul 04, 2009 ... Hanover Real Estate Partners announced that it has completed a two-year lease extension with Bank of the West at 2655 Stanwell Drive in Concord, CA. Bank of the West will continue to lease the entire 55,000 rentable square foot building as an office and check/data processing center. ...
Ricoh Americas Corporation launches Distribution Finance Program with GE Capital to Ricoh U.S. Dealers.
Jul 04, 2009 ... Ricoh Americas Corporation and GE Capital Commercial Distribution Finance announced the launch of a finance program available for qualified dealers of Ricoh U.S. branded products including Ricoh, Savin and Lanier. The finance program offers dealers discounts, no interest financing and ...
DTCC Announces Plans for Major Redesign of Automated Customer Account Transfer Service.
Jul 04, 2009 ... The Depository Trust & Clearing Corporation (DTCC) announced that it will soon undertake a major redesign of the Automated Customer Account Transfer Service (ACATS) to enhance its capabilities and address the changing nature of financial markets. Launched in 1986, ACATS has ...
Equinix Chosen by NYSE Liffe to Provide Faster Market Access for Frankfurt Customers.
Jul 04, 2009 ... Equinix, Inc. (Nasdaq:EQIX), a provider of global data center services, announced that NYSE Liffe is now offering cross-connect access from Equinix's International Business eXchange (IBX®) data center in Frankfurt (FR2). NYSE Liffe customers based in the Equinix Frankfurt-North data ...
Andy Kaye Joins William Blair & Company as Firm Bolsters Its Asian Banking Team.
Jul 04, 2009 ... William Blair & Company announced that it has hired Andy Kaye as Head of Asia, expanding its Asian investment banking expertise. In this role, Mr. Kaye will be based in the firm's China office and will lead further penetration into the Asian marketplace as well as development of targeted ...
First Niagara Names Gary M. Crosby its Chief Administrative Officer.
Jul 04, 2009 ... First Niagara Financial Group (NASDAQ:FNFG) announced that Gary M. Crosby will join the company's Executive Team. In the newly created position, the Buffalo native will lead and oversee both operational and corporate support functions, develop and enhance organizational policies and ...
GE Launches Program to Doctors, Hospitals to Accelerate EMR Adoption; First $100 Million of healthymagination Commitment.
Jul 04, 2009 ... GE (NYSE:GE) announced, as part of its healthymagination initiative to increase access to technology and reduce cost, the launch of a new program, Stimulus Simplicity, which offers doctors and hospitals an easier path to electronic medical records (EMR) adoption. This program is a joint ...
Sun Life Financial acquires UK business of Lincoln National.
Jul 04, 2009 ... Sun Life Financial Inc. (TSX/NYSE: SLF) announced it is acquiring the United Kingdom operations of Lincoln National Corporation. The value of the transaction is approximately (pnds stlg)195 million (CDN$359 million). The transaction, which is anticipated to be completed in the third ...
Kaufman Rossin Fund Services Selected as Fund Administrator for the ADASTRA Ultra Income Family of Funds.
Jul 04, 2009 ... ADASTRA Group Limited has appointed Kaufman Rossin Fund Services LLC (KRFS), a full-service fund administrator, to provide its organization with outsourced back-office operations for its Ultra Income Family of Funds. KRFS will provide accounting and valuation, investor services, tax ...
FASB Issues Statements 166 and 167 Pertaining to Securitizations and Special Purpose Entities.
Jul 04, 2009 ... The FASB published Financial Accounting Statements No. 166, Accounting for Transfers of Financial Assets, and No. 167, Amendments to FASB Interpretation No. 46(R), which change the way entities account for securitizations and special-purpose entities. The new standards will impact ...
Schwab Study Finds One in Four Americans Ready to Make the Move to a New Financial Services Firm.
Jul 04, 2009 ... According to a new Charles Schwab survey, 25 percent of investors in the U.S. are considering changing financial services firms/brokers in the next year based on their overall frustrations with their current situation. With 90 percent saying they are frustrated about the money they lost in ...
Schwab Study Finds One in Four D.C. Investors Ready to Make the Move to a New Financial Services Firm.
Jul 04, 2009 ... According to a new Charles Schwab survey, 22 percent of D.C. investors are considering changing financial services firms/brokers in the next year based on their overall frustrations with their current situation. With 89 percent saying they are frustrated about the money they lost in the ...
Marshall & Ilsley Corporation Announces Closing of Common Stock Offering.
Jul 04, 2009 ... Marshall & Ilsley Corporation (NYSE:MI) (M&I) announced the closing of its public offering of 100,000,000 shares of its common stock at $5.75 per share. The 100,000,000 shares include 13,000,000 shares issued pursuant to the option granted to the underwriters by M&I, which was exercised in ...
The Omaha Baseball Stadium Becomes ''TD AMERITRADE Park Omaha''.
Jul 04, 2009 ... In 2011, TD AMERITRADE Park Omaha will usher in a new era in sports, entertainment and community development for the city of Omaha. The Metropolitan Entertainment & Convention Authority (MECA) announced that TD AMERITRADE Holding Corporation (NASDAQ: AMTD) has secured the naming ...
Nirvana Solutions' White Paper Predicts the Emergence of a New Model of Prime Brokerage - the Multi-Prime Service Platform.
Jul 04, 2009 ... The financial crisis of 2008 has upset the relatively stable equilibrium previously maintained between hedge fund managers and their traditional service providers, according to a white paper released by Nirvana Solutions, provider of Nirvana (TM), a real-time portfolio management system ...
South Texas Oil Company Closes Convertible Notes Private Placement.
Jul 04, 2009 ... South Texas Oil Company (NASDAQ:STXX) announced the sale through a non-brokered private placement of $555,000 in 14% Secured Convertible Notes due in 2011 ("the Notes"). Proceeds will be used to fund a portion of the Company's 2009 capital expenditure budget, for potential acquisitions, ...
New Tool Simplifies Reporting Fair Value Measurement of Retirement Plan Assets.
Jul 04, 2009 ... Employers who sponsor retirement plans have long been required to understand and measure the fair value of their plan assets. This year they are required to take it a step further by documenting how they do it. The Principal Financial Group® has unveiled an online, ...
Latest Research Findings on GP's to Be Released at ChinaVenture's LP Summit.
Jul 04, 2009 ... The 10-year-long development course of China's VC/PE investment market is marked by ups and downs. According to statistical data and research analysis from ChinaVenture, over the past decade, China's VC/PE industry was besieged by cold snaps and heat waves by turns: In the Internet Bubble ...
BATS Exchange Multicast Datafeed Now Available via NYSE Technologies' SFTI[R].
Jul 04, 2009 ... BATS Exchange, an innovative and technology leading U.S. stock exchange, and NYSE Technologies, a provider of complete electronic trading solutions, announces the immediate availability of BATS Multicast PITCH real-time depth of book data feed via NYSE Technologies' Secure Financial ...
Nicholas-Applegate Global Equity & Convertible Income Fund Declares Quarterly Dividend of 30 Cents Per Share.
Jul 04, 2009 ... The Board of Trustees of Nicholas-Applegate Global Equity & Convertible Income Fund (the "Fund") (NYSE: NGZ), a diversified, closed-end management investment company which seeks total return comprised of capital appreciation, current income and gains announced that it has declared a ...
Tommaso Padoa-Schioppa Appointed Chairman of Promontory Europe.
Jul 04, 2009 ... Tommaso Padoa-Schioppa, former Finance Minister in the Italian government, has been appointed Chairman of Promontory Europe. In his new position, he will oversee Promontory's expansion of operations throughout continental Europe, a pivotal role in the premier consulting group for global ...
Industry Veteran Jon Krogstad is appointed to open MMV Financial's Silicon Valley office and further expand the Company's presence in the United States.
Jul 04, 2009 ... MMV Financial Inc. (MMV) one of North America's leading venture debt firms announced the addition of Jon Krogstad to its senior management team reinforcing the company's presence in the United States. Mr. Krogstad joins MMV Financial as Senior Vice President. Based in Palo Alto, CA Mr ....
Six Flags Enters Final Phase of Financial Restructuring.
Jul 04, 2009 ... Six Flags, Inc. (OTCBB: SIXF) and certain of its subsidiaries ("Six Flags" or the "Company") announced that they have begun reorganization proceedings under Chapter 11 of the United States Bankruptcy Code in the District of Delaware. In connection with the filing, Six Flags is ...
RelayHealth's PatientCompass Achieves Highest Level of PCI DSS Compliance Validation.(Clinical report)
Jul 04, 2009 ... RelayHealth, the leading provider of healthcare connectivity services, announced that its PatientCompass™ online business office solution has been validated as compliant with the Payment Card Industry Data Security Standard (PCI DSS). RelayHealth achieved Level 1 Service Provider ...
Century Payments to Provide Sales Management for RBS WorldPay Agent Bank Program.
Jul 04, 2009 ... RBS WorldPay announced that it has formed a partnership with Century Payments Inc. ("Century") to manage and expand the RBS WorldPay Agent Bank program. RBS WorldPay's Agent Bank program provides transaction processing services to financial institutions that wish to offer payment ...
Naspers Announces Acquisition of Polish Financial Portal Bankier.pl.
Jul 04, 2009 ... MIH Allegro B.V., the Polish subsidiary of MIH B.V., part of the Naspers group (JSE:NPN) (LSE:NPSN), announced that it has made a public tender offer to acquire up to 100% of Warsaw-listed Polish financial portal Bankier.pl. If the offer is successful, Allegro, the leading ...
Murdock Martell & TCGen Launch Predictive Management Metrics Consulting Services.
Jul 04, 2009 ... Murdock Martell, a client-focused finance and accounting services firm, announced that it has teamed up with TCGen, a Silicon Valley based management consulting firm to launch a Predictive Metrics Consulting service. The service will assist clients working to improve financial and ...
General Data Broadens Its Business Solutions with Formation of New Financial & Tax Consulting Division.
Jul 04, 2009 ... General Data Company, Inc. (www.general-data.com) has announced the formation of a new full-service professional tax consulting business unit. This unit will operate under the name General Financial and Tax Consulting, LLC, and will offer a line of tax services designed to assist companies ...
Signal Hill Expands its Equity Capital Markets Business.
Jul 04, 2009 ... Signal Hill Capital Group LLC, a specialty investment banking, research and institutional brokerage firm, announced that it has expanded its Sales, Trading and Research division through the addition of Senior Institutional Salesman Edward J. Cushing, III, Managing Director, and Senior ...
Growth Equity Firm Bridgescale Partners Expands to East Coast With Toronto Office; Seeks Canadian Investment Opportunities.
Jul 04, 2009 ... Bridgescale Partners (www.bridgescale.com), a California-based growth equity firm providing expansion capital to later-stage technology companies, is expanding its focus and operations to include the Eastern United States and Canada. As part of this growth, Bridgescale Partners will open ...
AdEx Media Closes $2.3 Million Financing.
Jul 04, 2009 ... AdEx Media, Inc. (BULLETIN BOARD: ADXM) (the "Company"), a leading pay-for-performance online marketing and lead generation company, announced the closing of a private placement financing in which the Company raised in excess of $2.3 million through the issuance of Series A preferred stock ...
Greenhill Expands Advisory Focus on Consumer and Retail Companies.
Jul 04, 2009 ... Greenhill & Co., Inc. (NYSE: GHL), a leading independent investment bank, announced that Seamus Moorhead and Charles Gournay will join Greenhill as Managing Directors, based in London, focused on the consumer and retail sectors. Mr. Moorhead was Co-Global Head of Consumer and ...
Investment Professionals, Inc. Continues to Rack Up No. 1 Rankings in Marketing Effectiveness, Expertise, Materials and Scope.
Jul 04, 2009 ... Investment Professionals, Inc. (IPI) continues to surpass its competitors in the bank brokerage industry in Marketing Effectiveness, Expertise, Materials and Scope. IPI was ranked No. 1 in all four marketing categories in American Brokerage Consultants' (ABC) and Bank Investment Consultant ...
The Bank of New York Mellon Appointed Paying Agent, Registrar and Transfer Agent for the San Diego Unified School District's $38.8 million Bond Issue.
Jul 04, 2009 ... The Bank of New York Mellon (NYSE:BK) has been appointed paying agent, registrar and transfer agent for the San Diego Unified School District's $38.8 million Qualified School Construction Bond issue, the first issuance of Tax Credit Bonds under the American Recovery and Reinvestment Act of ...
Nollenberger Capital Partners Completes Bond Financing for San Francisco's Aquarium of the Bay.
Jul 04, 2009 ... Nollenberger Capital Partners, Inc. (NCPI), a privately held investment banking and advisory services firm, announced the successful closing of a $6.5 million variable rate revenue bond financing for The Bay Institute Aquarium Foundation. The proceeds were used to purchase the San ...
SBA Ranks Regions Financial No. 3 Small Business Lender Among Large U.S. Banks.(Report)
Jul 04, 2009 ... For the sixth consecutive year the U.S. Small Business Administration (SBA) ranked Regions Financial Corporation (NYSE: RF) third among large U.S. banks in an annual study measuring banks' emphasis on lending to small businesses. According to the U.S. Small Business ...
Consorteum Holdings Inc. Shares to Commence Trading on the OTCBB.
Jul 04, 2009 ... Consorteum Holdings Inc. (OTCBB: CSRH), after completing the acquisition of Consorteum Inc., a systems integrator within the financial services, payment and transaction processing industries, announces the commencement of trading of the company's common stock on the over the counter ...
Black Diamond Adds Schwab Industry Veteran to Sales Team.
Jul 04, 2009 ... Black Diamond Performance Reporting announced that 15-year industry veteran Paul Linko has joined the firm as Vice President of Sales. Mr. Linko, recently a Key Account Manager at Schwab Institutional of San Francisco, will oversee client relationships and business development for the ...
KBW Bolsters Research Effort Following Rapid Growth.
Jul 04, 2009 ... In response to significant growth over the last several years, KBW, Inc. (NYSE: KBW) a full service investment bank that specializes in the financial services sector, announced that Frederick Cannon will join John Howard as Co-Director of Research, effective immediately. Based in the ...
Mercanti Welcomes Todd Bomberg to Its Los Angeles Office.
Jul 04, 2009 ... The Mercanti Group announces that Todd Bomberg will lead the firm's CleanTech practice group in Mercanti's Los Angeles office. Todd joins Mercanti from Moelis & Co. where he was a Senior Vice President in Mergers and Acquisitions. "I have known Todd for nearly 13 years and ...
TSYS Provides Toyota Finance with Prepaid Payments.
Jul 04, 2009 ... TSYS announced the extension of its agreement with Toyota Finance Inc. to include prepaid payment and processing services. Toyota's innovative e-money product, Tressa Style Card Plus, is a reward card that can facilitate transactions as either prepaid or QUICPay contactless card payments ....
F.N.B. Corporation Completes Common Stock Offering.
Jul 04, 2009 ... F.N.B. Corporation (NYSE:FNB) announced that it has completed its public offering of 24,150,000 shares of common stock at a price of $5.50 per share, including 3,150,000 shares of common stock purchased by the underwriters pursuant to their over-allotment option, which was exercised in ...
Financial Advisor Karen Lee Offers Important Advice for Consumers.
Jul 04, 2009 ... Karen Lee of Karen Lee and Associates, LLC, in Atlanta, says that consumers have the power to take control of their financial lives. By following some simple guidelines, they can learn to live within their means and enjoy a solid, financial future. "Many people have a complex ...
Kensey Nash Corporation Adopts Stockholder Rights Plan.
Jul 04, 2009 ... Kensey Nash Corporation (NASDAQ:KNSY), a leading medical technology company providing innovative solutions and technologies for a wide range of medical procedures, announced that its board of directors adopted a stockholders' rights plan. The rights plan is designed to protect the Company ...
Lincoln National Corporation Prices Senior Notes Offering.
Jul 04, 2009 ... Lincoln National Corporation (NYSE:LNC) announced that it has priced an offering of senior notes. A total of $500 million principal amount of 10-year fixed rate senior notes was issued with a coupon rate of 8.75 percent. The company intends to use the proceeds from this offering ...
Patriot Coal Announces Pricing of Common Stock Offering.
Jul 04, 2009 ... Patriot Coal Corporation (NYSE:PCX) announced that it has priced a public offering of 12.0 million shares of its common stock in a registered public offering at $7.90 per share. Patriot also has granted the managing underwriters a 30-day option to purchase up to an additional 1.8 million ...