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Finance Research News - December, 2006















HOME :: RESEARCH :: FINANCE :: NEWS :: ARCHIVE

Credit Research News - December, 2006



US patents for financial services boost

The number of US patents issued for financial services has soared this year as banks have rushed to take advantage of a protection once seen as the preserve of technology and drug companies



KPMG - lead financial advisor in US$370-million Cobolt/Courts deal

KPMG Corporate Finance yesterday announced that a successful financing close had been secured for the acquisition of Courts Plc's Caribbean operations. Courts in the Caribbean is a retailer of consumer electronics, appliances and furniture, which it sells primarily on credit through 93 retail stores in 12 countries



Planet Financial Services Takes Over Waples Tech Center

Owner/User Purchases 14,483-SF Office Building for $214 PSF



First Cash Financial Services To Replace Republic Bancorp - Stock To Watch

Wednesday after the bell, First Cash Financial Services Inc. will replace Republic Bancorp Inc. in the S&P SmallCap 600 index after the close of trading on Friday, December 29



Private equity industry becomes the keystone for financial markets

Poll highlights fears that leverage levels are too high



LEI Financial Expands Mortgage Services to North Dakota

LEI Financial, one of the fastest growing mortgage and financial services providers in the United States, is now licensed to provide a wide range of mortgage products -- and financial freedom -- to people in North Dakota



Financial services firm moves

Advanced Group Financial Services will cut the ribbon on its new office at 2508 Genesee St. at 10 a.m. Thursday



Global 1 Unveils Capital Structure and Integrated Financial Services Consolidation Strategy

Global 1 Investment Holdings Corporation discusses strategic initiatives, acquisition plans, funding and growth ideas



EDS' Eight Financial Services 2007 Trends: Resolutions for a Financially Good Year

EDS applies 35 years of industry expertise to help clients



Hallmark Financial Services, Inc. Announces Promotions and Segment Realignment

Hallmark Financial Services, Inc. (Nasdaq: HALL) today announced the promotion of two of its executive officers to newly created positions



GlobalBridge and OBS Financial Services Complete Sales and Marketing Agreement

The firms' combined trust bank product offerings aim to help banks compete and enhance market share



Opteum Inc. Sells Equity Stake in Opteum Financial Services

Expects Substantial Mortgage Origination Cost Savings



Towns may share financial services

Two towns in Oneida County may receive some help in controlling their financial affairs



Evercore Partners Completes Acquisition of Braveheart Financial Services

Combined firm, operating as Evercore Partners, will expand Evercore's presence and advisory capabilities in Europe



The Center for Financial Services Innovation Announces New Board Members

Executives from eFunds, El Banco, Keybank, and Wells Fargo Are Added as CFSI Continues Its Expansion



New Financial Services ISAC committee to consider physical security and business continuity issues

The US Financial Services Information Sharing and Analysis Center (FS-ISAC) has announced that a new committee will focus on ‘situational readiness issues related to physical security and business continuity’.



A.M. Best Affirms Ratings of Zurich Financial Services

A.M. Best Co. has affirmed the financial strength rating (FSR) of A (Excellent) and the issuer credit rating (ICR) of "a+" of Zurich Insurance Company, the main operating company of Zurich Financial Services Group (ZFS) (Switzerland), and its subsidiaries



Hallmark Financial Services initiated with "outperform"

Analysts at William Blair & Co initiate coverage of Hallmark Financial Services Inc with an "outperform" rating



William Blair & Company Initiates Coverage of Hallmark Financial Services, Inc.

William Blair & Company initiated research coverage of Hallmark Financial Services, Inc. (Nasdaq:HALL) ($9.70), a specialty property-casualty insurance underwriter based in Fort Worth, Texas, with an Outperform rating and company profile of Aggressive Growth



GFKL gets in on global collection business

GFKL Financial Services AG is taking over Wolter Inkasso OHG from Essen, a company specializing in the collection of transnational receivables, which has partners in more than 100 countries



ePayments Corp. Launches Educational Financial Services Division

New Division Focuses on Check Processing and RCK Electronic Check Collection Services



RE:Viewing 2006: The year in financial services

Some usual and unusual trends surface



Indiabulls Financial Services buys Noble Realtors

Indiabulls Financial Services has acquired 100% of the equity share capital of Noble Realtors



Arab Financial Services to take Fair Isaac Triad

Fair Isaac Corporation, the leading provider of analytics and decision management technology, announced today a new agreement with Arab Financial Services Company (AFS), expanding the global reach of Fair Isaac's industry-leading Triad adaptive control system in Middle East markets



Woodbury Financial Services Acquires Diversified Financial Concepts

Acquisition Positions Leading Independent Broker-Dealer for Continued Growth and Provides Increased Support for Independent Financial Representatives



Financial Services ISAC to start Program focusing on Physical Security and Business Continuity

The Financial Services Information Sharing and Analysis Center (FS-ISAC) and NC4 are pleased to announce a new Program and Committee targeted at reducing operational risk by focusing on situational readiness issues related to physical security and business continuity



BCE sells Telesat for $3.42B

BCE Inc. is selling Canada’s leading satellite operator in a $3.42-billion deal that further slims down the communications giant and gives it money to wipe out debt, make strategic acquisitions or plan other financial moves



Notice to All UBS Financial Services Customers Who Maintained Fee Based Brokerage Accounts

The Securities Arbitration Law Firm of Klayman & Toskes, P.A. ("K&T") (http://www.nasd-law.com), representing numerous aggrieved investors throughout the nation, announced today that New York State Regulators have filed a civil lawsuit against UBS Financial Services, Inc.



PSCU Financial Services Selects TriCipher for Multi-Factor Authentication

Ease-of-Integration and the Flexibility of Tricipher's Authentication Ladder Support Multi-Factor Authentication for Online Access to Credit Card Information



BOE Financial Services of Virginia, Inc. Increases Dividend on Common Stock

BOE Financial Services of Virginia, Inc., announced today that at its November meeting the Board of Directors declared a year-end dividend of $0.39 per share



Pakistan Micro finance Network, Shore Bank publish first micro finance bulletin

Pakistan Micro finance Network (PMN) and Shore Bank International Ltd (SBI) have launched a quarterly publication, Micro WATCH, providing up-to-date district level outreach data on the country's micro finance sector in the first-ever attempt of its kind



Klein named to Financial Services Committee

Congressman-Elect Ron Klein (D-Boca Raton) has been named by the Congressional leadership to serve on the House Committee on Financial Services



Financial Services: fed up with proprietary integration hassles

In financial services, enterprises are fed up with proprietary integration / middleware price gouging and architecture lock-in, and actively on the prowl for open source alternatives



Virtusa Corporation Appoints Jim Francis to Head Banking, Financial Services & Insurance Business

Virtusa Corporation, a global provider of IT consulting, technology and outsourcing services, today announced the appointment of Jim Francis as Senior Vice President of the company’s Banking, Financial Services and Insurance (BFSI) business



Market Report

Alliance Data CIBC Wrld Mkts reiterates Sector Outperform. Target $65 to $71



Davis assigned to Financial Services Committee

U.S. Rep. Lincoln Davis of Tennessee has been assigned to the House committee that oversees banking, insurance and securities



Cardtronics Financial Services Expands Leadership Team

Robert Colabrese and Bill Knoll to Lead Strategic Initiatives



Women Expo showcases financial services

Women Expo 2006, which is ongoing until December 15 at the Oman International Exhibition Centre, showcases not only beauty products, jewellery and the latest fashion but also a range of financial services and investment opportunities for women



MDC to house Workforce Florida financial services center

Workforce Florida is to launch a statewide initiative aimed at improving the quality and availability of basic skills training for entry-level financial services workers and advanced training for experienced employees at Miami Dade College



US seeks to press China on financial services

Hank Paulson, the US Treasury secretary, must be given time to persuade China to grant greater market access to foreign financial services groups, according to the industry forum he used to head



Hartford Financial Services "outperform," target price raised

Analyst T Gallagher of Credit Suisse maintains his "outperform" rating on Hartford Financial Services Inc (HIG.NYS), while raising his estimates for the company. The target price has been raised from $103 to $105



LEI Financial Expands Mortgage Services to Washington

LEI Financial, one of the fastest growing mortgage and financial services providers in the United States, is now licensed to provide a wide range of mortgage products



Microsoft Adds Two Senior Executives to EMEA Financial Services Team

Michael Rasch and Andreas Drescher to drive banking sector and partner alliances



Ahead of the Bell: Financial Services

Goldman Sachs forecasts optimistic outlooks from Wachovia and AIG, and named E-Trade one of its top conviction picks heading into the investment bank's two-day Financial Services CEO Conference, which kicks off Tuesday in New York



Indiabulls Financial Services raises stake in IRECPL

Indiabulls Financial Services said Tuesday that it has raised its equity stake in Indiabulls Real Estate Company to 50.5% through conversion of optionally convertible debentures held by the company in IRECPL amounting to Rs 822.9 million



HSBC Insurance Services Appoints Two New Senior Executives to Lead Growth Initiatives

HSBC Insurance Services, a unit of HSBC North America Holdings Inc., announced today it has appointed two executives to new leadership positions



Pearson sells services unit

Pearson has agreed to sell its government services business, Pearson Government Solutions, to U.S. private equity firm Veritas Capital, as part of the publishing group's bid to focus on its education unit



U.S. Bancorp to Present at the Goldman Sachs Financial Services CEO Conference 2006

Goldman Sachs Financial Services CEO Conference 2006



Financial Services Firms Share Security Tactics

Some of the top players in the financial services arena-- such as Visa , JPMorgan Chase and Experian International -- are expanding their tactics for preventing customer data loss



Mortgage Officer Joins Legacy Banks Financial Services in Albany

Legacy Banks has welcomed a new Senior Mortgage Specialist to its eastern New York office according to an announcement today by Consumer Group Executive Vice President Steven F. Pierce



Dawn Bennett, CEO of Bennett Group Financial Services to appear on Bloomberg TV December 21, 2006

awn Bennett, CEO of Bennett Group Financial Services to appear on Bloomberg TV December 21 at 6:30 p.m. EST. She will discuss events in the financial news that week, along with her thoughts on the economy, financial markets, interest rates, investments, and her outlook for 2007



DigitalBridge Communications Raises $11 Million in Venture Capital

DigitalBridge Communications Raises $11 Million in Venture Capital and Acquires Companies Teton Wireless and Montana Wireless



NAR Welcomes New Leadership Of House Financial Services Committee

Pat Vredevoogd Combs, president of the National Association of Realtors® , today congratulated Representatives Barney Frank (D-Mass.) and Spencer Bachus (R-Ala.) on their leadership assignments to the House Financial Services Committee



Stocks are small but appealing

In 1999 through 2004, small stocks beat big ones every year, and they're in the lead again in 2006



Sedona Gets Another Financial Services MRM Customer

Sedona Corporation, which sells MRM products for small and mid-size financial services organizations, has sold Valley Federal Credit Union its Intarsia MRM application



SunTrust to Present at the Goldman Sachs Financial Services CEO Conference

SunTrust Banks, Inc. will present at the Goldman Sachs Financial Services CEO Conference on Tuesday, December 12, 2006 at 3:30 PM Eastern Time



LEI Financial Expands Mortgage Services to Connecticut

LEI Financial, one of the fastest growing mortgage and financial services providers in the United States, is now licensed to provide a wide range of mortgage products -- and financial freedom -- to people in Connecticut



$270M just sitting there

Ottawa wants to get its hands on all those dormant bank accounts



Unipro Financial Services Completes Additional $3 Million Private Placement

Unipro Financial Services, Inc. today announced that it issued 923,078 units at $3.25 per share



BISYS and T-Zero Form Strategic Alliance

The alliance will support the automation in the derivative market and enable BISYS to provide enhanced services



What Will '07 Bring for Key Sectors?

S&P Ratings sizes up prospects for industry groups in the coming year. Part 1 includes a look at consumer products, homebuilders, and high tech



The British Virgin Islands Financial Services Commission Introduces a New Internet-Based Info System

The British Virgin Islands Financial Services Commission (BVIFSC) ispleased to announce today that it will be transitioning to a newinternet-based information system featuring the electronic filing ofdocuments



The British Virgin Islands Financial Services Commission Introduces a New Internet-Based Info System

The British Virgin Islands Financial Services Commission (BVIFSC) is pleased to announce today that it will be transitioning to a new internet-based information system featuring the electronic filing of documents



Dickson Named President of CSC Credit Services

omputer Sciences Corporation announced today that John Dickson has been named president of CSC Credit Services



Financial services firms share security tactics

The CISO role will now be the deputy risk manager



Windows in Financial Services Delivers Its Own News, Adding New Editorial Staff, Expanded Coverage..

Former Incisive Media Editor Renee Wijnen Caruthers Named Managing Editor



Sage Software Acquires Financial Services Compliance And Document Tracking Technology To Expand ACT!

VerticalFalls technology to be integrated with ACT! to create combined contact management and compliance solution for financial services institutions



Zurich to establish new US shared services unit

Switzerland-based Zurich Financial Services has announced that it will provide transactional and administrative support services to its Farmers, North America Commercial and other North American units, through a newly-created shared services operating unit



First Data, Interactive Financial partner for rewards program

First Data Corp.’s First Data Debit Services division has signed an agreement with Bellevue, Wash.-based Interactive Financial Services Group Inc. to provide a school and charity rewards program



Aflac Incorporated To Present at the Goldman Sachs Financial Services CEO Conference 2006

Aflac Incorporated announced today that it will make a presentation at the Goldman Sachs Financial Services CEO Conference 2006



IEI Financial Services Recognized for Providing an Outstanding Customer Service Experience

IEI Financial Services has been recognized for call center operation customer satisfaction excellence under the J.D. Power and Associates Certified Call Center Program(SM)



Deloitte Financial Advisory Services Online Poll Finds Companies Have Formalized Anti-Fraud Programs

However, Few Companies Have Teams In Place to Respond to Regulatory Investigations



US government warns financial services businesses of cyber-attacks

The US Department of Homeland Security (DHS) has confirmed media reports that the U.S. Computer Emergency Readiness Team (US-CERT) has issued a warning to private financial services companies



Weststar Financial Services Corporation Ranked Number One in Performance

For the quarter ended 9/30/06, Weststar Financial Services Corporation, parent company of The Bank of Asheville, was ranked number one in performance and 15th in valuation out of 43 banks in North Carolina by Davenport and Company, LLC in their Davenport Community Bank Quarterly



ECS Financial Services, Inc. Satisfies Key Management and Operational Standards

ECS Financial Services, Inc. Satisfies Key Management and Operational Standards Required by Sarbanes-Oxley Act Through Completion of SAS 70 Type I Audit



Hartford Closes on $100M Omni Sale

Insurance and financial services provider Hartford Financial Services Group Inc. said Friday it closed on its sale of Omni Insurance Group to Independent Insurance Investments Inc


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