| //09-23-2009 |
Wells Fargo & Company (NYSE:WFC) today announced changes to its overdraft practices for Wells Fargo and Wachovia customers.
Wells Fargo will eliminate overdraft fees for customers when they overdraw their accounts by $5 or less and will charge no more than four overdraft fees per day. In addition, Wells Fargo and Wachovia customers will be able to opt out of overdraft coverage, meaning customers can specify that they don’t want their transactions authorized into overdraft if funds aren’t available to cover the transaction.
|
| //09-22-2009 |
Wells Fargo & Company (NYSE:WFC) said today that Chairman Dick Kovacevich will step down as chairman and a director at the end of 2009 and retire from the company in early 2010, after 23 years with the company.
Kovacevich, who will be 66 next month, had agreed last November to continue as chairman for an interim period to focus primarily on issues related to the challenges facing the financial services industry and to the Wells Fargo-Wachovia merger integration. Wells Fargo’s Board of Directors, as it indicated last November, confirmed that President and CEO John Stumpf will assume added responsibility as Chairman effective January 1, 2010.
|
| //09-18-2009 |
Online investment firm∙s new office helps local investors make their own decisions
|
| //09-18-2009 |
Additions include online Technology Adoption Scorecard, transition planning resources for advisory firms, and tools to drive advisor client loyalty and referrals
SAN DIEGO--(BUSINESS WIRE)--Schwab Advisor Services, a leading provider of custodial, operational and trading support for approximately 6,000 independent fee-based investment advisors, today announced a series of enhancements to its Business Consulting Services offer designed to help advisors fuel their growth and improve efficiency. Schwab’s Business Consulting Services offer provides insights, guidance, tools and resources to help independent advisor clients strategically manage and grow their firms in the areas of marketing and business development, business strategy and planning, technology and operations, human capital, transition planning, and compliance resources.
|
| //09-17-2009 |
Morgan Stanley (NYSE: MS) today declared a regular quarterly dividend on the outstanding shares of each of the following preferred stock issues:
* Floating Rate Non-Cumulative Preferred Stock, Series A - $255.56 per share (equivalent to $0.25556 per Depositary Share)
* 10 percent Non-Cumulative Non-Voting Perpetual Convertible Preferred Stock, Series B - $25.00 per share
* 10 percent Non-Cumulative Non-Voting Perpetual Preferred Stock, Series C - $25.00 per share
The dividends for the Preferred Stock Series A, B and C are payable on October 15, 2009 to stockholders of record at the close of business on September 30, 2009.
|
| //09-17-2009 |
SAN FRANCISCO--(BUSINESS WIRE)--Schwab Charitable, one of the nation’s largest and fastest growing national donor-advised fund programs, announced today the launch of its Private Foundation Conversion Service.
The new service is specifically designed to help advisors to private foundations determine whether conversion to a donor-advised fund would be beneficial, and if so, provide guidance throughout the process.
Schwab Charitable’s process may be particularly beneficial to private foundation directors struggling with recently depreciated assets.
|
| //09-17-2009 |
Online investment firm opens fourth office in the greater Cincinnati area to support investors
|
| //09-16-2009 |
Online investment firm named one of the Best Places to Work opens office in one of the Best Places to Live
|
| //09-16-2009 |
James Gorman to Become Chief Executive Officer in 2010; John Mack to Continue Serving as Chairman; Announcement Follows Thorough Succession Planning Process and Achievement of Key Company Milestones
|
| //09-16-2009 |
SAN DIEGO--(BUSINESS WIRE)--Independent investment advisors say the economy is turning a corner, according to the latest results of a semi-annual study released at Charles Schwab’s IMPACT® 2009 conference, one of the country’s largest annual gatherings of independent investment advisors. The majority (72%) of independent advisors surveyed by Schwab in late summer believe the recession will end in less than 12 months, and more than one-third (36%) said the end is not only in sight, but will come before the end of this year.
|
| //09-15-2009 |
E*TRADE FINANCIAL Corporation (NASDAQ: ETFC) announced that its Board of Directors has terminated the Company's Stockholder Rights Plan in accordance with the stockholder advisory vote at the Special Stockholder Meeting in August. In addition, the Board of Directors has authorized the commencement of an At The Market (ATM) program to issue common stock for which the Company has entered into an equity distribution agreement with Sandler O'Neill + Partners, L.P. Under the terms of the agreement, the Company may from time to time offer and sell up to $150,000,000 of common stock through the ATM program. The Company intends to use the proceeds from the sale of common stock to enhance liquidity for the parent company as well as for working capital and general corporate purposes.
Sales of the shares, if any, will be made by means of ordinary brokers' transactions on the NASDAQ Global Select Market at market prices or as otherwise agreed by Sandler O'Neill. These shares will be offered at market prices prevailing at the time of sale.
Under the terms of the distribution agreement, the Company also may sell shares of its common stock to Sandler O'Neill, as principal for its own account, at a price agreed upon at the time of sale. If the Company agrees to sell shares to Sandler O'Neill, as principal, it will enter into a separate terms agreement with Sandler O'Neill, and will describe such agreement in a separate prospectus supplement or pricing supplement.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of the Company's common stock in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
|
| //09-15-2009 |
NEW YORK, Sep 15, 2009 (BUSINESS WIRE) -- E*TRADE FINANCIAL Corporation (NASDAQ: ETFC) today released its Monthly Activity Report for August and provided an intra-quarter update on its loan portfolio delinquencies and certain key financial and balance sheet metrics.
The Company ended August with record brokerage accounts of more than 2.7 million, including gross new brokerage accounts of 31,324 and net new brokerage accounts of 11,321 during the month. Total accounts ended the month at more than 4.5 million. Total Daily Average Revenue Trades ("DARTs") for August were 208,495 - an increase of 18.3 percent from July and 37.4 percent from the year ago period. The Company reported approximately 200,000 DARTs for September month to date (as of September 11).
Customer security holdings increased 2.9 percent and brokerage related cash increased by $982 million in August. This was offset by a $380 million reduction in Bank related customer cash and deposits, as the Company continued to execute on its balance sheet reduction strategy. This led to a 2.6 percent increase in total customer assets in the month and flat net new customer assets. Customers were net sellers of approximately $600 million of securities in August.
The Company also provided an update concerning delinquencies in its loan portfolio. Special mention delinquencies (30 to 89 days delinquent) for its home equity portfolio, which represents the Company's greatest exposure to loan losses, remained flat from June 30 to August 31. Home equity "at risk" delinquencies (30 to 179 days delinquent) declined seven percent from June 30 to August 31. Total special mention delinquencies for the Company's loan portfolio, which includes one- to four-family, home equity and consumer and other loans, declined by four percent quarter to date, as of August 31, 2009.
Detailed information concerning loan delinquencies is provided in table form on page 4 of this release.
The Company also provided an update to certain key financial and balance sheet metrics through the first two months of the third quarter, as well as certain forecasts for the third quarter 2009 results. The Company cautions that this data is preliminary as of September 14, 2009 and subject to change.
|
| //09-15-2009 |
Schwab Charitable, one of the nation’s largest and fastest growing donor advised funds, today announced its second annual Schwab Charitable Philanthropy Speaker Series to be hosted in partnership with UC Berkeley’s Haas School of Business Center for Nonprofit and Public Leadership.
The Series brings together leaders from the philanthropic community with Haas students and alumni to tackle cutting-edge issues in the world of philanthropy and explore best practices for social impact.
The Speaker Series will launch September 15th with Jane Wales, founder of the Global Philanthropy Forum, a group of more than 750 social investors committed to international causes throughout the world. The event will run from 6:00 to 8:00 p.m. in the Wells Fargo Room at the Haas School of Business. Tickets will be available for $15 for members of the public, $10 for Haas alumni, and free for students. To register please visit: http://www.acteva.com/booking.cfm?bevaid=189819. Please RSVP by September 14th, by 5 pm.
|
| //09-15-2009 |
SAN DIEGO--(BUSINESS WIRE)--Independent investment advisors say the economy is turning a corner, according to the latest results of a semi-annual study released at Charles Schwab’s IMPACT® 2009 conference, one of the country’s largest annual gatherings of independent investment advisors. The majority (72%) of independent advisors surveyed by Schwab in late summer believe the recession will end in less than 12 months, and more than one-third (36%) said the end is not only in sight, but will come before the end of this year.
|
| //09-14-2009 |
The E*TRADE FINANCIAL Corporation (NASDAQ: ETFC) Board of Directors announced that Donald H. Layton, 59, will step down as Chairman and CEO of the Company at the end of 2009 when his contract expires. In doing so, Mr. Layton will have delivered on his commitment to the Board, made when he joined the Company, to oversee a recapitalization of E*TRADE's balance sheet and lead a restructuring effort that has set the Company's online brokerage business back on a growth trajectory.
Mr. Layton will retain all of his current responsibilities until his contract ends, and will work in partnership with a special committee of the Board of Directors to oversee a search for his successor. E*TRADE expects to name a new CEO before the end of the year.
Named Chairman of E*TRADE's Board in late 2007 after helping the Company secure a $2.5 billion capital infusion, Mr. Layton shortly thereafter agreed to become CEO through year-end 2009 to oversee development and implementation of the Company's Turnaround plan. Under his tenure, E*TRADE raised significant amounts of new capital and liquidity, substantially reduced the Company's balance sheet risk, re-energized the Company's core online brokerage business, recruited key senior executives and reorganized the management and strategy of the Company.
|
| //09-14-2009 |
DJI closed lower due to profit taking on Friday as it consolidates some of this week's rally. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. SPI closed slightly higher on Friday as it extended Thursday's rally above August's high. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are becoming overbought but remain bullish signalling that sideways to higher prices are possible near-term. NDI closed slightly higher on Friday as it extended this week's rally. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are overbought but remain bullish signalling that sideways to higher prices are possible near-term.
|
| //09-14-2009 |
Gold closed higher on Friday and spiked above February's high crossing as it extends the rally off August's low. Profit taking tempered early session gains and the high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are overbought and are turning bearish hinting that a double top with last February's high might be forming. Closes below the 20-day moving average crossing would confirm that a double top with February's high has been posted.
|
| //09-11-2009 |
Wells Fargo & Company (NYSE:WFC) said today that its internal policies, including those that govern team member conduct, prohibit personal use of properties held by Wells Fargo. Based on these operating principles, the company has launched a full internal investigation of allegations that a team member was improperly using a bank-owned residential property in Malibu, California.
Wells Fargo took possession of the property, located on Malibu Colony Drive, last May as part of a private agreement with the prior owner. Under the terms of the agreement with the owner, the property was withheld from the market for an agreed-upon period of tim
|
| //09-11-2009 |
Schwab Charitable, one of the nation’s largest and fastest growing donor advised funds, today announced its second annual Schwab Charitable Philanthropy Speaker Series to be hosted in partnership with UC Berkeley’s Haas School of Business Center for Nonprofit and Public Leadership.
The Series brings together leaders from the philanthropic community with Haas students and alumni to tackle cutting-edge issues in the world of philanthropy and explore best practices for social impact.
|
| //09-11-2009 |
Proactively managing their finances helps investors feel more confident navigating economic challenges
|
