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Investment Firm
Latest Headlines
Latest Headlines
Breakaway brokers leave for advisory firms, not to start firms
There are still plenty of brokers at traditional wirehouses that are leaving for greener pastures. These days, they're more likely to join an existing registered investment advisory firm rather that start their own firms, notes Investment News .
This suggests the maturity of the RIA industr
Head of Kuwaiti firm commits suicide
Hazem Al-Braikan, hardly a household name on Wall Street, was reported by Reuters to have died from a single, self-inflicted gunshot wound to the head, while a policeman stood outside his house. Braikan was CEO of Al Raya Investment, a Kuwaiti investment firm that is 10 percent owned by Citigr
Citigroup continues to remake board
There's little doubt that the government has pressed Bank of America and Citigroup to re-make their boards, with an eye on independence and enhanced expertise. Citigroup has just named three new outside directors: Diana Taylor, Timothy Collins and Robert Joss.
Notes the AP , Taylor is the f
End of the road for Rattner?
Steven Rattner seemed to live a charmed life in New York for the longest time. He was a New York Times ' wunderkind reporter (James Reston's assistant, a coveted post in a bygone era) turned Morgan Stanley banker and then later major fund-raiser for the Democrats. His investment firm Quadrangle
Fortress loss bigger than expected
Fortress has certainly been in the news a lot recently. In the wake of the Vanity Fair article that held it up as a prime symbol of the times , it has released fourth quarter earnings, and the results are not pretty. The hedge fund and private equity fund lost $140 million ($1.50 a share),
What Stanford has wrought in Antigua?
R. Allen Stanford, before his firm imploded, was an outsized Texas figure in Antigua. Outside the government, he was the largest local employer. And, as Fortune notes, "the Texas banker built a flashy playground--the massive Stanford International Bank and the Bank of Antigua buildings, the Pavili
Could Madoff have done it alone?
It just seems weird that Bernie Madoff could have pulled off a $50 billion scheme for so many years, all by himself. I just can't see him toiling away, all by himself, after hours, creating all those incredibly detailed fake trading documents. To satisfy sophisticated investors for so many years,
Madoff scandal, another red flag
Bernie Madoff's secretive investment firm "managed"--and I use the term loosely--billions of dollars. And yet its auditor was a tiny one-accountant operation in New City, New York, called Friehling & Horowitz. The AP paid a visit and noted the office is "next door to a pediatrician in a dr
Assessing the Bernie Madoff scheme
The scope of the Bernie Madoff alleged fraud is coming into focus, and it's getting even uglier. A $50 billion Ponzi scheme? It boggles the mind, especially when you think that the participants and victims were all savvy Wall Street players. But the power of personality goes a long way.
Lots o
Shocker! Bernie Madoff arrested
Bernie Madoff, who runs a firm that bears his name, has been a fixture on Wall Street for half a century. To many, he was something of a legend; he was a founder of the Nasdaq and remains a director. But in recent years, the 70-year-old harbored a huge secret: The investment firm he started in the
