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Finance Research News - October, 2007















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

Credit Research News - October, 2007



Ian Lowitt to Speak at the Merrill Lynch Banking & Financial Services Investor Conference

Lehman Brothers, the global investment bank, today announced that Ian Lowitt, Lehman Brothers' co-chief administrative officer



Verint Moves Into Financial Services With Workforce Optimization App

Analytics software solutions provider Verint is leveraging the workforce optimization capabilities it developed -- and acquired



BB&T names Woody to lead Private Financial Services

BB&T Corporation today said it has named Mike Woody as sales and service leader for its Private Financial Services group



Salesforce.com wins Best CRM in Capital Markets Award

Salesforce.com , the market and technology leader in on-demand business services, today announced that it has been recognized as the leading CRM technology provider



Two High Profile Financial Services Executives Join eSecLending Board as Independent Directors

eSecLending, a global securities lending manager, today announced the appointment of David Gelber and William Nutt as Independent Directors to the firm’s Board.



LPL Financial Services Selects eMoney Advisor as Its Preferred Wealth Management Solution

eMoney Advisor, (www.emoneyadvisor.com), a leading financial-planning software provider according to the independent report The Forrester Wave(TM):



Layoffs Hit an All-Time High in Financial Services Sector

Merrill Lynch & Co. Inc. (MER) Chairman and CEO Stan O’Neal isn’t the only worker in the U.S. financial-services sector with a job-security issue.



BOE Financial Services of Virginia, Inc. Reports 3rd Quarter Results

Total Assets increased 6.0% in Quarter- Total Loans increased 13.9% in Quarter- Net Income declined 9.4% in Quarter- Two new full-service branches opening 4th Quarter



Chrysler Financial Standardizes on Salesforce for Financial Services

Leasing and financing solutions organization joins the more than 1,600 financial services organizations leveraging next-generation financial services technology from salesforce.com



Simpler-Webb Participates in Cisco's Financial Services Channel Program

Simpler-Webb has been admitted into Cisco's financial services channel program as a managed services and professional consulting provider to financial institutions nationwide.



Toyota Financial Services Offers Payment Relief and New Vehicle Purchase Options for Customers

As part of Toyota's overall disaster relief efforts, Toyota Financial Services (TFS) announced it is offering a number of payment relief options



EDS Names Michael Coomer to Lead Asia Pacific Region, Global Financial Services Industry

EDS today announced it has appointed Michael Coomer as both executive vice president for the Asia Pacific Region and leader of the company's Global Financial Services Industry organization



Mobile financial services provider backed by NCR, others

MFoundry, provider of mobile financial services, has completed a $15 million Series C round of financing, which backing from Motorola Inc., PayPal and NCR Corp.



Kosan Biosciences To Reacquire Epothilone Program From Roche; To Begin Phase 2 Clinical Program

Kosan Biosciences Inc. (KOSN) said on Thursday that it and Roche are concluding epothilone development and commercialization collaboration.



Hartford Financial Services Group Q3 Profit Rises; Lifts FY07 Core EPS Outlook - Quick Facts

Hartford Financial Services Group Inc. (HIG | charts | news | PowerRating) reported third quarter 2007 net income of $851 million or $2.68 per share



Bargains hard to find in financial-services stocks

In a radio interview with MarketWatch senior columnist Chuck Jaffe, Larson noted that good companies frequently get to where they are poor values



Orrstown Financial Services, Inc. Reports Third Quarter Earnings and Fourth Quarter Dividend

Orrstown Financial Services, Inc. has announced third quarter 2007 earnings of $3,427,000, or $.53 per share versus $3,004,000



Abusive lending bill faces roadblocks

Two provisions in Barney Frank's mortgage reform proposal raise concerns with consumer advocates and lenders.



Verizon Business Helps Retail and Financial Services Industries Safeguard Credit Card Data

Verizon U.S. Smart Centers and Transaction Services Network Implement Stronger Industry Standards to Help Companies Strengthen Their Security



Pandemic test undertaken by financial services paints dire scenario

If a pandemic strikes the U.S., it will kill about 1.7 million people, hospitalize 9 million, exhaust antiviral medications and reduce basic food supplies



Wall Street West to augment region's pool of financial services workers

Wall Street West will provide work force training grants to area organizations in an effort to boost the number of people in eastern Pennsylvania



Western Union Financial Services, Inc.

Western Union is a global leader in money transfer, with a history dating back more than 130 years.



Private client services, investment banking drive gains at Raymond James

Raymond James Financial Inc. said net income for the fourth quarter ended Sept. 30 was $63 million, or 53 cents a share, a 24 percent increase from net income of $51 million



IBT, Meijer Extend In-Store Financial Services Agreement a Second Time

IBT Enterprises, LLC, a leader in design, build and consulting services for the financial and specialty retail industries, announced it has extended its exclusive partnership



Premier Wealth Management Completes Settlement with Protrust Financial Services

Premier Wealth Management, Inc. (OTCBB:PWMG), formerly known as Tally-Ho Ventures, Inc., today announced that the Company has completed a Settlement Agreement with Protrust Financial Services ("Protrust").



Discover Financial Services (DFS) NewsBite - DFS Tumbles on Downgrade

Discover Financial Services LLC (DFS) opened at 19.08. So far today, the stock has hit a low of 18.85 and a high of 19.74. DFS is now trading at 19.69, down 0.11 (-0.58%).



Markets Mixed On Retreating Oil, Financial Downgrades

The Dow Jones industrial average was in the red Monday, but nowhere near Friday’s decline, as stocks were mixed at midday on Wall Street.



The 'Financial Technology Investment Conference'- Event for Companies Integrating Financial Services

FundingPost's Conference will put 10 growth-stage technology companies in front of over 35 Venture Capitalists at Deutsche Bank in New York City



ACI and uMonitor Partner to Add Online Account Opening and Funding Services to ACI Enterprise Enroll

ACI Worldwide (NASDAQ:ACIW), a leading international provider of software for electronic payment systems, and Parsam Technologies, the provider of uMonitor financial services



Business Briefs

Hunter and Linette McFarlin, principals of McFarlin Financial in Murfreesboro, recently attended a Fusion Advisor Network meeting in Chicago, Ill.



New financial services legislation proposed in Jersey

Jersey Financial Services Commission has published a consultation paper setting out proposals to introduce new secondary legislation.



Amtrust Financial Services: Sometimes Boring is Best

Sometimes the best investment ideas are downright boring. Warren Buffett is well known for his partiality to insurance companies



Financial Services

Gallup knows financial services. In fact, we have been helping businesses in the financial services industry for more than 40 years.



A financial-services eBay?Using Web, peer-to-peer lending aims to lower cost of borrowing

Two former Greenleaf Trust executives and another Kalamazoo man are hoping to be the next big thing in online financial services



Yardville National Bancorp Shareholders Nod Merger With PNC Financial Services Group

Friday, Yardville National Bancorp (YANB | charts | news | PowerRating), announced that a special meeting of its shareholders



Eagle Financial Services, Inc. Announces Third Quarter Results and Quarterly Dividend

Eagle Financial Services, Inc. , the holding company for Bank of Clarke County, whose divisions include Eagle Investment Group



Financial Insights: Top 10 strategic IT initiatives for financial services

Financial Insights, an IDC company, released their annual report identifying the Top 10 IT initiatives that will have key strategic importance for the retail and corporate banking market worldwide in 2008.



IBM Hit by Financial Services Slowdown in Q3

Financial services companies, particularly among large enterprises based in the United States, slammed the brakes on IT spending in the third quarter



PNC Financial Services 3Q EPS $1.19 Vs EPS $5.01

PNC Financial Services Group Inc., (PNC) Pittsburgh, reported third-quarter net income fell because of a year-earlier gain



IBM shares weaken in wake of results

IBM Corp's. shares gave up more than 2% Wednesday, slipping in the wake of the technology giant delivering upbeat third-quarter results that were tempered by a drop-off in computer server and hardware sales.



Global Payments Completes Integration of Discover Network Card Acceptance for Merchants

Global Payments Inc. , a world leader in payment processing services, announced today that it has completed the integration of Discover Network card transaction processing



GMAC Financial Services To Slash 3000 Positions - Update

GMAC Financial Services, where automaker General Motors Corp. (GM | charts | news | PowerRating) has a 49% stake



Midland Loan Services gains large account

Overland Park-based Midland Loan Services Inc. said a large commercial mortgage company has tapped Midland’s loan management technology



Financial services CEOs say chance of US recession in next year at 37 pct UPDATE

CEOs from 20 of the world's largest financial services companies said there is a 37 pct chance of a recession in the US over the next 12 months,



IBM says financial services slowdown hurt Q3 growth

International Business Machines Corp (IBM.N: Quote, Profile , Research) said on Tuesday that weaker sales to U.S. financial services customers



State Street's Earnings Surprise

The credit crunch reverberated across the financial world, but financial-services giant State Street has weathered the storm quite well



BB&T to offer integrated suite of mobile banking services

Winston-Salem-based BB&T Corporation today said it has partnered with two California-based mobile banking and payment providers



PSS Systems Offers Records Retention Package for Financial Services Industry

PSS Systems, pioneers of the legal holds and retention management software revolution, announced that an advanced retention kit is available for financial services companies



Don’t underestimate importance of the financial services industry

The financial services industry makes a substantial contribution to the U.S. economy.



Offshore course supported

The Cayman Islands Financial Services Association (CIFSA) has thrown its support behind a new initiative at the University College of the Cayman Islands (UCCI)



Financial Firms to Benefit from Reuters and TIBCO Spotfire Partnership

Reuters to equip financial services clients with next generation business intelligence



21st Century Financial Services Signs Another De Novo, Great Nations Bank (IO)

21st Century Financial Services™, a data processing services provider to the US community bank marketplace, today announced that Oklahoma-based Great Nations Bank (in organization) has joined a growing number of banks



HARBORVIEW INVESTMENTS FINALIZES ACQUISITION OF MID-STATE FINANCIAL SERVICES

Harborview Investments, a financial services company serving clients in Maine and across the United States, today announced the completion of its acquisition of Mid-State Financial Services



American Express ranked top in customer satisfaction

J.D. Power and Associates last week unveiled its first study of customer satisfaction involving credit cards.



Friday: Bay Area Capital Connections

The Alliance for Community Development and the Bay Area Council are hosting Bay Area Capital Connections II, the latest in a regional conference series presenting critical business



On and Off The Hook

Some financial services firms are trying to clear a regulatory path that would let them buy out pension plans, freeing employers from pension obligations



Even the renters now feel the mortgage crisis

The mortgage mess is claiming a new group of victims: renters.



Darling charts his vision for banking

Tribune Information Services via COMTEX) -- NHRKF | charts | news | PowerRating -- Banking laws could be dramatically shaken up as part of a bid to protect the financial system



Salt River adds tribal financial services

The Salt River Pima-Maricopa Indian Community is bringing lending services to tribal members for the first time.



JP Morgan removes Hartford Financial Services Group (HIG) from its Focus List

JP Morgan removes Hartford Financial Services Group Inc. (NYSE: HIG) from its Focus List. Firm reiterates its Overweight rating



Dollar Financial Pays $100 Million Premium To Acquires CCS Financial Services; 26 Multiple

Dollar Financial Corp has acquired 82 payday loan and check cashing stores in Southeast Florida from CCS Financial Services, Inc.



Coastal Trust and Investment Services Announces Complimentary Seminar Schedule for November

Coastal Trust and Investment Services located at Coastal Federal Credit Union has announced its complimentary “Food For Thought” financial seminar



Dollar Financial (DLLR) Acquire 82 Financial Services Stores in Florida

Dollar Financial Corp (NASDAQ: DLLR) entered into an agreement to purchase eighty-two financial services stores in southeast Florida



Tutis Technologies signs MoU with O'Connor Davies Financial Services LLC

Tutis Technologies Ltd has announced that the Subsidiary of the Company has executed an MOU on October 04, 2007 with O'Connor Davies Financial Services LLC (ODFS) of USA



Honda Breaks Ground for Mid-Atlantic Financial Services Facility

Honda Financial Services (HFS) today marked the groundbreaking for its new 26,000-square-foot Mid-Atlantic regional offices



Al Bowen Aligns Ohio Financial Services’ Technology and Business Plan

SVP of Information Systems Al Bowen streamlines technology and business and reprices Ohio Financial's life insurance portfolio.



Voda One and Avaya Financial Services Team Up to Deliver Enhanced Advanced Funding Program

Westcon Group, Inc.™, the leading specialty distributor in networking, convergence, security, and mobility, announced that its Voda One business practice



Dalrada Financial Implements New Marketing Alliances Offering Workers Compensation Nationwide

Dalrada Financial Corporation today announced negotiations with five strategic alliances that will allow it to market business solution products



SouthWEST Financial Group Blazing a Trail in Special Needs Financial Services

SouthWEST Financial Group, a general agency of Massachusetts Mutual Life Insurance Company (MassMutual)



Universal Special Auto Finance Joins Wolters Kluwer Financial Services’ AppOne Platform

AppOne, a part of Wolters Kluwer Financial Services, today announced that Greenwood Village, Colo.-based Universal Special Auto Finance joined the network of lenders on the AppOne platform



Comerica Charitable Foundation Gives $200,000 Grant to LA Neighborhood Housing Services at Comerica

Recognizing the success of Los Angeles Neighborhood Housing Services (LA-NHS) in spurring home ownership



United Capital Financial Advisers Standardizes on Salesforce for Financial Services

Salesforce.com , the market and technology leader in on-demand business services, today announced that United Capital Financial Advisers, Inc.



North Carolina State Employees’ Credit Union Partners with PSCU Financial Services for Gift Card

State Employees’ Credit Union (SECU) headquartered in Raleigh, N.C., has partnered with PSCU Financial Services



Mark VII launches financial services

Mark VII Equipment Inc., the US subsidiary of WashTec AG of Germany, introduced Mark VII financial services at the Western Carwash Association Trade Show, according to a company press release.



Pure Financial Advisors Launches New Financial Planning Model to Provide Quality Wealth Management

Pure Financial Advisors opens it doors today, offering not only a new personal finance service but a new business model for the financial planning industry



Fulcrum names VP-financial services solutions

Fulcrum, a database marketing company, announced that it has hired Michael Berry as VP-financial services solutions.



Lincoln Employer Markets Launches New Retirement Program - Lincoln SmartFuture(SM)

Lincoln Employer Markets, a division of Lincoln Financial Group, announces the launch of Lincoln SmartFuture(SM), a retirement program



LogicaCMG Announces Global Partnership with Fronde Anywhere

LogicaCMG, a major international force in IT and business services, has announced a global partnership with Fronde Anywhere



Mark VII Launches Financial Services

Mark VII Equipment Inc. announced the launch of Mark VII Financial Services today at the Western Carwash Association trade show in Las Vegas.



Gateway Financial Holdings, Inc. Announces Gaythwaite as Chief Retail Banking Officer

Veteran Banker Will Focus On the Sales Efforts of Gateway Bank's Network of Financial Centers



Discover Financial Services (DFS) NewsBite - DFS Up on September Employment Growth

Discover Financial Services LLC (DFS) opened at 22.23. So far today, the stock has hit a low of 22.20 and a high of 22.90.



Monitise Americas Helps NYCE Deliver Mobile Banking and Payment Services

NYCE Payments Network is now offering mobile banking and payments services to financial institutions.



The Hispanic Wealthy: The Next Big Wave in Financial Services

Mention the term "wealthy Hispanic" to most Americans and many are likely to think of celebrities such as New York Yankee



Financial services firms establish mortgage program in D.C.

Several financial services companies and organizations announced a $200 million commitment to launch a mortgage program



The PNC Financial Services Group Announces Common Stock Dividend and New Stock Repurchase Program

The PNC Financial Services Group, Inc. board of directors today declared a quarterly cash dividend of 63 cents per share



Financial Services to Benefit from Combined Organizations’ Strength in Executive Education

Financial services professionals continue to be challenged by the current environmental conditions; changing and emerging customer demographics



TD Bank Financial Group to Acquire Commerce Bancorp Inc.

TD Bank Financial Group (TDBFG) (TSX and NYSE: TD | charts | news | PowerRating) and New Jersey-based Commerce Bancorp Inc.



DaimlerChrysler Financial Services - Emerging Artist Award 2007

Emerging Artist Award exhibition with the award recipients 2007 Marty McElveen and Dharmesh Patel as well as nine other emerging artists of the Cranbrook Academy of Art:



Follow the Money: The (Slow) Rise of Green Financial Services

Markets for environmental products and services tend to cluster in categories.



First U.S. financial services firm co-owned by Chinese to focus on mergers and acquisitions

The first U.S. financial services company to be co-owned by a Chinese firm was hailed Tuesday as an example of how the two nations can cooperate in a global economy.



Wolters Kluwer Financial Services Introduces New Online Training Tools

Wolters Kluwer Financial Services announced today that the company is offering banks and credit unions several new online training tools



McCarthy to fill vacant Financial Services panel seat

Rep. Kevin McCarthy (R-Calif.) will fill the seat on the Financial Services Committee vacated by the death of Rep. Paul Gillmor (R-Ohio), according to a GOP leadership aide.



BMW Group Financial Services Launches up2drive.com

Marking the company's entry into the direct-to-consumer lending business, BMW Group Financial Services today officially launched an automotive financing Web site



BEA to Deliver BEA AquaLogic(R) Service Bus, Financial Services Edition for SOA-Based Payments

BEA Systems, a world leader in enterprise infrastructure software, today announced the upcoming release of BEA AquaLogic(R) Service Bus


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