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Morgan Stanley (MS)

Morgan Stanley Earnings Up on Record Brokerage Fee

Morgan Stanley said its fourth-quarter earnings rose 35 percent on record revenue from its brokerage, the world’s biggest. Net income rose to $836 million, or 41 cents a share, from $617 million, or 29 cents, a year earlier. Earnings from continuing operations, excluding a 17-cent gain on the sale of a stake in China International Capital Corp. and a tax gain of about 6 cents, were 20 cents a share.
The revenues and retail brokerage profits were higher than expected, validating the bank's strategy of bolstering businesses that are less threatened by tougher regulation after the financial crisis.

Jan 20 · 3:45:00 PM
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by Larry Etter

E*TRADE Financial (ETFC)

E*TRADE Appoints Steven Freiberg CEO

E*TRADE FINANCIAL Corporation announced its board has appointed Steven Freiberg CEO, effective April 1, 2010. Mr. Freiberg, an experienced financial services executive, has held multiple senior level positions over a distinguished 30-year career at Citigroup. Mr. Freiberg, who also will join the Company's Board of Directors, succeeds interim CEO Robert Druskin. Mr. Druskin will remain on the Board, continuing in his role as Chairman.

Mar 23 · 10:58:00 AM · Source: Company Press Release
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by Larry Etter

Citigroup (C)

Citi's Primerica unit files for IPO

Citigroups' life insurance unit, Primerica, filed for an initial public offering of up to $252 million as part of Citigroup's plan to shed assets outside its main banking business. Citi expects to sell 18 million Primerica shares to the public and 17.2 million shares to private equity firm Warburg Pincus, plus warrants. Post-IPO, Citi's stake will be 32%-46%, while Warburg Pincus' stake will be 23%-33%.

Mar 18 · 11:14:00 AM
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by Larry Etter

MetLife (MET)

MetLife to Pay $1.5 Billion in Policy Dividends

MetLife, Inc. announced today that its life insurance subsidiary, Metropolitan Life Insurance Company, approved an aggregate payment amount of approximately $1.5 billion in policy dividend payments to eligible life insurance policyholders for 2010.
The company says the dividend payout not only reflects MetLife`s financial strength and stability, but also its commitment to its policyholders today and for the future

Mar 17 · 11:11:00 AM · Source: Company Press Release
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by Larry Etter

AIG (AIG)

AIG to Sell AIA to Prudential for $35.5 Billion

American International Group, Inc. announced today a definitive agreement for the sale of the AIA Group, Limited, one of the world's largest pan-Asian life insurance companies, to Prudential plc for approximately $35.5 billion, including approximately $25 billion in cash, $8.5 billion in face value of equity and equity-linked securities, and $2.0 billion in face value of preferred stock of Prudential, subject to closing adjustments.
This deal will provide some of the needed cash AIG sorely needs.

Mar 1 · 10:21:00 AM · Source: Company Press Release
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by Larry Etter

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