Credit Research News - March, 2007

Two words for the future: financial services

From the international-news-that-could-very-well-be-pertinent-to-your-financial-future department, Sweden has announced that it plans to abolish its decades-old wealth tax.

First NLC Financial Services Announces the Restructuring of Its Operations

First NLC Financial Services, LLC, a leading nonprime mortgage originator, has announced the closing of a number of its wholesale operations centers

Torreano expects growth in financial services

As his company prepares to enter its next 125 years in Colorado Springs with fresh office space and room to grow on the ninth floor of the former Holly Sugar Building, Mike Torreano is prepared to double his staff during coming months.

Weichert Financial Services Appoints Richard Gregory, Vice President, Affiliate Business Development

Vincent Carida, senior vice president, Global Business Development, announced that Richard Gregory has joined Weichert Financial Services as vice president, Affiliate Business Development.

Harris Corporation Names John L. Draheim VP - Financial Services and Assistant Treasurer

Harris Corporation , an international communications and information technology company, has promoted John L. Draheim, 52, to vice president

House Financial Services Committee Passes Shareholders Vote on Executive Compensation Act

Excessive executive pay has been proven to have a significant impact on company's profits and shareholder returns.

Hartford Financial Services Group Appoints David Levenson As COO Of Japan Operations - Quick Facts

Hartford Financial Services Group Inc. (HIG | charts | news | PowerRating) announced that David Levenson, chief product and distribution officer for Hartford Life Insurance K.K., the Hartford's Japanese subsidiary, has been appointed chief operating officer.

Thornburg Gives $30,000 Toward Anderson's Financial Services Center

Thornburg Investment Management has given a capital gift of $30,000 to the Anderson School of Management’s Student Financial Services Center. The Center, which opened its doors this year, was built to house the work of the Anderson undergraduate and graduate portfolio management program.

New Age Electronics Partners with De Lage Landen Financial Services to Offer Flexible Financing

Financial Services Designed to Provide Customers with More Buying Power

Mass. biz leaders call for new institute to boost financial services

Citing the threats that globalization and technology now present to Boston's once-dominant financial services industry, local business leaders are calling for the formation of a public-private institute ...

Bringing financial services to 'unbanked'

Take banking out of the branches and put it in storefronts and other places people are more comfortable with.

Accenture snags more financial services, government work

The consulting and outsourcing business is just swell. Accenture reported second quarter revenue of $4.75 billion, up 16 percent from a year ago, as the company booked record outsourcing sales.

LPL Financial Services Appoints Jeffrey Kleintop, CFA, Senior Vice President, Chief Market Strategis

Linsco/Private Ledger Corp. (LPL Financial Services), announced today that Jeffrey Kleintop, CFA, has recently joined the firm as Senior Vice President, Chief Market Strategist.

GE Healthcare Financial Services Closes $34.9 Million Deal With Juniper Communities

GE’s Business and Financial Resources Position Customer for Short- and Long-Term Growth

Apresta Powers Mobile Enterprise Data Access for New Customers in Financial Services

Saratoga Systems, a global leader in CRM solutions since 1987, has added eight leading companies in insurance, financial services, chemicals, and manufacturing to its growing list ...

Wolters Kluwer Financial Services Introduces CCH Policies and Procedures Investment Adviser Online

Tool Combines Content Expertise and Flexibility to Create Customized Solution for Investment Advisory Business

Adobe and Wolters Kluwer Financial Services Team to Deliver Mortgages Electronically

Companies to Enable Lenders to Secure and Streamline Mortgage Processes in PDF

Hartford Financial Services Group Grants About $7 Mln In Community Support - Quick Facts

Hartford Financial Services Group Inc. (HIG | charts | news | PowerRating) said it has awarded more than $7 million in community support

BFPPG calls for conflicts list on FSGs and SOAs

The Boutique Financial Planning Principals Group (BFPPG) is calling for a standard (one-page) document of conflicts of interest to be developed for inclusion on the front page of all Financial Services Guides (FSGs) and Statements of Advice (SOAs) distributed to financial services clients.

Hagewood joins Crye-Leike in Smyrna

Real estate agent Mack Hagewood has joined the Crye-Leike Smyrna branch office, located at 599 Sam Ridley Parkway, serving the needs of buyers and sellers in and around Rutherford and Cheatham counties.

Bibby Financial Services Launches New Division Dedicated to Staffing Companies

Bibby Financial Services has expanded its U.S. business with the establishment of a dedicated division focused solely on the funding and payroll management services for staffing companies.

Westlake Financial Services Celebrates One Year of Production on SuperSolutions' Lending Suite

Solution Significantly Enhances Customer Service and Portfolio Management

GMAC Financial Services to Webcast Investor Presentations

GMAC Financial Services and Residential Capital, LLC (ResCap) will host an investor conference on Wed., March 28, 2007.

Senior Financial Services Officer Katharine Norwood Earns Expert Designation

Katharine Norwood, a certified mortgage planner for Sterling Capital, Inc. in Stamford, Conn., has recently earned the Certified Liability Advisor (CLA) designation. Norwood works to help clients manage liabilities into assets.

LSB Bancshares, Inc. and FNB Financial Services Corporation Announce Executive Management Team

Robert F. Lowe, Chairman, President and CEO of LSB Bancshares, Inc. and Pressley A. Ridgill, President and CEO of FNB Financial Services Corporation are pleased to announce the executive management team of the new merged bank ...

LSB Bancshares And FNB Financial Services To Finalize Executive Management Team For New Merged Bank

Robert Lowe, Chairman, President and CEO of LSB Bancshares, Inc. (LXBK | charts | news | PowerRating) and Pressley Ridgill, President and CEO of FNB Financial Services Corporation (FNBF | charts | news | PowerRating), announced the executive management team of the new merged bank...

Our Outlook for the Financial Services Sector

A panic in subprime may have created an opportunity for long-term investors.

Phillip Roy Financial Services Announces New Paper on Life Insurance Titled ''Income Maximization"

Phil Wasserman, president of Phillip Roy Financial Services, a leading retirement income planning firm, has announced a new research paper on life insurance and annuity use titled "Income Maximization."

Stephen Adamo Appointed President of Weichert Financial Services

James M. Weichert, president of Weichert, RealtorsR, has announced that Stephen E. Adamo has joined the Weichert Family of Companies as president of Weichert Financial Services.

Tax Advisors Form ATI Financial Services

Financial advisory firm combines skills and experience of partners

Banks are Most Talked-about Financial Services Category Among Consumers

Banks are certainly giving people something to talk about these days, at least that’s the conclusion of a study conducted by Keller Fey.

GE Healthcare Financial Services Finalizes $160 Million First Mortgage for Wakefield Capital

GE Healthcare Financial Services continues to enhance its position in the senior housing market by structuring a $160 million senior-secured...

TeleTech Signs Agreement With Leading Financial Services Provider

New Program Targets Credit Card Offering

Financial Services are biggest server spenders

Last year once again saw the financial services industry spend the most of any sector on servers, according to research firm Gartner.

Hallmark Financial Services, Inc. Announces Correction to Press Release

Hallmark Financial Services, Inc. today announced a correction to its press release issued March 20, 2007, reporting fourth quarter and year 2006 earnings results.

Senators introduce tax bill to aid financial services firms

Senate Finance Committee Chairman Max Baucus, D-Mont., and Sen. Orrin Hatch, R-Utah, on Wednesday introduced legislation that would permanently extend a tax-code provision...

Velocity Express Renews Contract with Largest Financial Services Customer

Velocity Express (NASDAQ: VEXP) announced today that it recently signed a multi year contract renewal, representing more than $13 million in revenue per annum, with one of the world’s largest financial institutions.

GT Nexus Adds Financial Supply Chain Services to Global Trade and Logistics Portal

Banks, Importers and Exporters Leverage Common Supply Chain Data and Document Platform to Streamline the Global "Procure-to-Pay"

Phillip Roy Financial Services Announces 500th Life Insurance and Annuity Agent Addition

Phillip Roy Financial Services, the fastest growing annuity and Life insurance marketing firm in Florida, announces the addition of its 500th life insurance and annuity agent.

GE Healthcare Financial Services Finalizes $160 Million First Mortgage for Wakefield Capital

GE Healthcare Financial Services continues to enhance its position in the senior housing market by structuring a $160 million senior-secured, 10-year first mortgage for Wakefield Capital, a Maryland based investor in senior housing properties. The financing was used to acquire 28 independent and assisted living properties in seven states.

Financial services firms snub Microsoft's Vista

The majority of financial services firms in the UK have no plans to migrate to Microsoft's new Vista platform, according to research conducted by Vanson Bourne and released by IT consultancy Camwood.

Financial Services Firm Depends on 3n for Critical Communications

Waldman Bros. Strengthens Business Continuity / Disaster Recovery Plan With 3n Mass Notification System

Phillip Roy Financial Services Announces National Training Seminars for Financial Professionals

Phillip Roy Financial Services, a leading national firm in the sales of annuities and life insurance, has announced a series of training seminars for insurance agents, financial advisors, CPAs, and attorneys focusing on the growing baby boomer demands for insurance and annuity products.

Hallmark Financial Services, Inc. Announces Fourth Quarter and Year 2006 Earnings Results

Hallmark Financial Services, Inc. today reported quarterly net income of $4.7 million for the fourth quarter ended December 31, 2006, representing a 63% increase from the $2.9 million in net income for the fourth quarter of 2005.

Capital Investment Companies heightens level of financial services

Capital Investment Companies continues to expand their portfolio of services with the addition of the Capital Foundation.

Wealth2k(R) CEO, David Macchia, Introduces Blog to Focus Financial Services Industry

Thought Leader Introduces Interactive Discussions on Today's Retirement Income, Distribution, Product-Related Controversies and

Zogenix Closes $10 Million Deal with GE Healthcare Financial Services

Zogenix, Inc., a privately held neuroscience-focused specialty pharmaceutical company, announced today it has received $3.5 million of a $10 million loan facility with GE Healthcare Financial Services.

J.G. Wentworth Appoints Calamari as CFO; Brings Broad Range of Financial Services Industry

Specialty finance company J.G. Wentworth today announced the appointment of John J. Calamari as Chief Financial Officer.

“What's at Stake for Financial Services Firms in a New Congressional Environment?”

The National Association of Securities Professionals (NASP):

Zogenix closes $10 million deal with GE Healthcare Financial Services

Zogenix, Inc., a privately held neuroscience-focused specialty pharmaceutical company, announced today it has received $3.5 million of a $10 million loan facility with GE Healthcare Financial Services.

Finance sector leads server spending spree

Industry accounted for 25.1 per cent of worldwide server revenue in 2006.

CD Anderson Announces New Vice President Of Financial Services

Cindy Anderson, managing partner of CD Anderson, P.A., has announced that Debbie Rod has been promoted to vice president of Financial Services.

Financial service company expanding to Lewisville

TIAA-CREF, which provides retirement savings products and services in the academic, medical, and cultural fields, announced that it'll expand to Lewisville, bringing 350 new local jobs to the area over the next two years.

Author criticizes financial-services industry

Big banks battling to keep Wal-Mart from forming its own bank have no moral high ground to stand on, documentary filmmaker James Scurlock suggests in his provocative new book, "Maxed Out."

Wal-Mart drops pursuit of bank charter

Stymied by a phalanx of opponents from big banks to unions and dogged by conflicting messages about its intentions, Wal-Mart (Nachrichten/Aktienkurs) withdrew a bid for a banking license Friday and said it would find other ways to serve customers' financial needs.

Financial services industry generates most server revenue

Financial services sector accounted for over a quarter of server sales in 2006

Wal-Mart Withdraws FDIC Financial Services Application

Unlike dozens of prior ILC applications, Wal-Mart’s has been surrounded by manufactured controversy since it was submitted nearly two years ago.

CD Anderson Announces New Vice President of Financial Services

Cindy Anderson, managing partner of CD Anderson, P.A., has announced that Debbie Rod has been promoted to vice president of Financial Services.

Report: Wal-Mart moves to offer more financial services

Wal-Mart Stores Inc. has renegotiated the terms of leases with several banks that operate in its stores to give Wal-Mart the right to offer financial service products it does not currently sell, such as mortgages, home-equity lines of credit and consumer loans, according to a report.

HSBC Finance Corporation Sets New Course in Taxpayer Financial Services Business

Discontinues Certain Tax Refund Loan Products

John Hancock Financial Services Announces 2007 Boston Marathon Elite International Field

In its 22nd year as principal sponsor of the Boston Marathon, John Hancock announced its elite team of 25 marathon runners from eight countries today, including American Olympic bronze medalist Deena Kastor, defending champions Rita Jeptoo and Robert Kipkoech Cheruiyot of Kenya and past champion Hailu Negussie of Ethiopia.

Hylant Financial Services Consolidates to Form Growing Division Within Hylant Group

In early January of 2007, Hylant Financial Services (HFS), led by President Paul Abendroth, consolidated its talented investment advisory staff of Hylant Group, Inc., into its own division.

GARTNER: Financial Services Industry Led Vertical Market for Server Revenue 2006

artner Says Financial Services Industry Led Vertical Markets for Worldwide Server Revenue in 2006 Gartner Servers Quarterly Statistics Vertical Industries Add-On Program Tracks Server Revenue into 13 Vertical Markets

House Finance chair Frank considering proposal to repeal online gambling ban in U.S.

The chair of the House Financial Services Committee is considering legislation that would overturn the ban on online gambling passed last fall.

Gartner: IBM Tops in Financial Services Server Market

Financial services proved the most lucrative part of the enterprise server market in 2006, growing by 3 percent and accounting for more than $13 billion in revenue, according to new research by Gartner.

PennFed Financial Services Gets Shareholder Approval To Be Acquired By New York Community Bancorp.

The acquisition of PennFed Financial Services, Inc. (Nasdaq:PFSB) ("PennFed") by New York Community Bancorp, Inc. (NYSE:NYB) was approved today at a special meeting of PennFed’s shareholders, paving the way for the acquisition to take effect on or about March 31st.

Financial Services Executives Say Risk Management Falls Short of Expectations

Survey by PricewaterhouseCoopers and Economist Intelligence Unit Shows Risk Function Not Fully Linked With Strategic Business Activities

Nationwide Financial Services, Inc. at AIFA 32nd Annual Conference - Final

MODERATOR: Hi, good morning, we'll get the breakout session here started. For our third presentation in the annuity breakout session, we're happy to have Steve Ginnan from Nationwide Financial.

Aquiline closes on $1.1bn for financial services

Aquiline Capital Partners, a New York-based private equity firm founded by ex-MarshMac executives, has closed its first fund at $1.1bn ($833m).

GMAC Financial Services Schedules Release of 2006 Annual and Fourth Quarter Financial Results

GMAC Financial Services has scheduled the release of its 2006 annual and fourth quarter financial results for Tuesday, March 13, 2007.

EDS' Eight Financial Services Security Concerns: Banking on Minimal Breaches

EDS has identified eight key security risks that should be of utmost concern to financial institutions.

The Clearing House, Financial Services Technology Consortium to Facilitate Mobile Payment

The Clearing House Payments Company (TCH) and the Financial Services Technology Consortium (FSTC) today announced a joint initiative to help the financial services industry identify ways to facilitate mobile payments for consumers and businesses.

TRADEX Global Financial Services, Inc. Retains Moore, Clayton and Co., as Financial Advisory Service

TRADEX Global Financial Services, Inc. (PINKSHEETS: TDXG), a holding company that owns TRADEX, Inc., a financial services company that provides access to the U.S., Canadian, European and Asian financial markets to foreign investors, announced today that it has established a financial advisory services agreement with Moore, Clayton & Co. Inc. (MCC).

Tennessee Dental Association Selects First Tennessee as Preferred Provider of Financial Services

The Tennessee Dental Association has selected First Tennessee as its preferred provider of member financial services.

RSS Security Threats With Financial Services

Web 2.0 technologies are penetrating deeper into the financial services sector as Enterprise 2.0 solutions, adding value to financial services.

Massive white-collar unemployment from mortgage and financial services companies will bring collapse

The effect of real estate bubble burst is far deeper than you can imagine.

Sleep Holdings, Inc. Engages First Continental Capital, L.P. to Offer Financial Services

Sleep Holdings, Inc. (PINKSHEETS: SLHJ) announces Dallas-based First Continental Capital, L.P. has been engaged to (i) assist Sleep Holdings in representing its business and financial needs to financing sources...

DaimlerChrysler Financial Services Americas Launches CompleteLease

CompleteLease addresses the needs of entrepreneurs who constantly strive to add value to their businesses and to improve customer service

Daylight Savings Time Rescheduling Creates Patch and Update Work for Financial IT Organizations

The law of unintended consequences appears to be complicating IT professionals' lives once again, thanks to The U.S. Energy Policy Act of 2005, which was passed by Congress to help people reduce the amount of electricity they use.

Alpha Financial Services Launches Mobile Money Transfer Service

Alpha Financial Services, Inc. today announced its "on-the-go-money transfer" service that will revolutionize the remittance business.

New York State Banking Board Approves Acquisition of PennFed Financial Services, Inc.

New York Community Bancorp, Inc. (NYSE:NYB) and PennFed Financial Services, Inc. (Nasdaq:PFSB) ("PennFed") today announced that the acquisition of PennFed by New York Community Bancorp has been approved by the New York State Banking Board.

House Financial Services Committee passes Gulf Coast Hurricane Recovery Act of 2007

One month after Louisiana Governor Kathleen Babineaux Blanco urged leaders of the new Congress to champion the Gulf Coast recovery effort, legislation tackling a key component of her federal recovery agenda

Midland Selected to Provide Loan Support and Asset Management Services to OPIC

Midland Loan Services, Inc., announces that the Overseas Private Investment Corporation has retained its government services group to provide loan and asset management to OPIC's growing portfolio.

Former U.S. Congressman & Chairman of The House Financial Services Committee Joins Baker Hostetler

Co-Author of Landmark Sarbanes-Oxley Act Brings a Quarter Century of Public Policy Experience to the Firm's Government Policy Group

Financial Insights Expands Capital Markets Research Profile

Industry Icon, Julio Gomez Joins Firm to Lead Practices

DaimlerChrysler Financial Services Americas Launches CompleteLease

DaimlerChrysler Financial Services Americas today announced its entry into the trucking industry's full service leasing market.

BRACKS GOVERNMENT TO FOCUS ON FINANCIAL SERVICES INDUSTRY

The Bracks Government has committed to work with and develop Victoria’s Financial Services Industry by making it the focus of a review of the Parliament’s Economic Development Committee.

Iona acquires C24 to strengthen financial services focus

Nasdaq-listed Iona Technologies has purchased privately held data and messaging software company C24 for an undisclosed fee.

Litle & Co. Selects Planet Financial Services’ Acquire360 Merchant Acquiring System

Planet Financial Services (Planet), a leading provider of payment transaction processing solutions and industry consulting expertise for the financial services industry, announced today that Litle & Co., one of the fastest growing privately held merchant card processing acquirers in the United States, has selected Planet’s Acquire360 Interchange Compliance Module.

Managed Account Services Successful Within 401(k) Plans

Assets Top $2 Billion

Enterprise completes Clayco Banc purchase

Enterprise Financial Services Corp. of Clayton said it has completed the purchase of Clayco Banc Corp., parent of two Great American Bank locations in the Kansas City area, for approximately $37 million..

SEI Announces That Long Time Client AmeriServ Trust and Financial Services Company Renews Contract

SEI to Provide Expanded Wealth Management Services

American Independence Financial Services, LLC Announces Creation of New Asset Management Affiliate

American Independence Financial Services, LLC (American Independence) announced today the formation of a new asset management affiliate, American Independence Capital Management, LLC (AICM)

Financial Services Subcommittee to Hold Hearing on Elections

The Financial Services Subcommittee of the House Appropriations Committee will hold a hearing on "Ensuring the Integrity of Elections" on Wednesday March 7 at 2:00 PM in the Rayburn House Office Building.

Lightyear Capital Completes Final Closing on Second Financial Services Buyout Fund

Lightyear Capital LLC (“Lightyear”), a private equity firm focused on financial services, announced today that it completed the final close of its second private equity fund, Lightyear Fund II, L.P. (“Fund II”), with over $850 million in capital commitments, surpassing its target of $800 million.

Katten Muchin Rosenman Continues To Expand Financial Services Practice

Katten Muchin Rosenman LLP is pleased to announce that Janet Angstadt, former General Counsel of NYSE Arca Inc., the New York Stock Exchange’s all electronic exchange for trading equities and options (formerly Archipelago), has joined the Firm as a partner in its Financial Services Practice.

SPOTFIRE ANNOUNCES ENTERPRISE ANALYTICS FOR THE FINANCIAL SERVICES INDUSTRY

Asset Managers Cash in on the Promise of NextGen Business Intelligence

Business Owners: Working Capital in 7-10 Days!

Businesses seeking cash for working capital — look no further. Crown Financial Services offers a unique solution for clients who need a quick infusion of money now.

2006 IT Budget and Staffing Report: Banks & Financial Services

During the first half of 2006, Info-Tech Research Group conducted an in-depth survey regarding the IT budget and staffing patterns of today's enterprises.

Transcript:Democrats' Weekly Radio Response

Good morning. I am Congressman Jose Serrano from New York, the Chairman of the House Appropriations Financial Services Subcommittee.

The American College Center for Ethics Urges Financial Service Companies to "Get Active"

The American College Center for Ethics in Financial Services, the only endowed collegiate center devoted exclusively to the study of values and good business practices for the financial services industry, today called on the industry to actively participate in Ethics Awareness Month activities

PNC Financial Services Is Falling After The Bell

PNC Financial Services (PNC | charts | news | PowerRating) moved slightly to the upside at the open of Friday's session....

WFSM Shareholder Is Proposing $40 Cash Per Share for Westborough Financial Services, Inc.

Private investor Marc J. Bistricer has announced that he has delivered a letter to the board of directors outlining an alternative acquisition proposal for $40 per share in cash.

The Financial Services Forum welcomes new MD

The Financial Services Forum has announced the appointment of Neil Scaife, who has joined the group in the newly created role of managing director.

Study: Western financial-services win

Eyes may look to New York City rather than the West when the topic of hot financial services firms comes up, but Western companies actually provide better shareholder performance.....

Financial services strong in Western U.S.-report

Helped by strong regional growth, financial services companies in the Western United States posted better returns for shareholders since 2002 than peers in other regions...

The PNC Financial Services Group Files Form 10-K

The PNC Financial Services Group, Inc. (NYSE: PNC) announced today that it has filed its 2006 Annual Report on Form 10-K with the Securities and Exchange Commission.

PFF Bancorp to Present at Sandler O'Neill West Coast Financial Services Conference on March 6, 2007

Kevin McCarthy, President and CEO of PFF Bancorp, Inc. (NYSE: PFB), the holding company for PFF Bank & Trust, Diversified Builder Services, Inc. and Glencrest Investment Advisors, Inc., will be participating..........

SmartPros® acquires assets of The Selbst Group Inc.

SmartPros Ltd. (AMEX:PED), a leader in the field of accredited professional education and corporate training, today announced that it has acquired the assets of The Selbst Group Inc.

BOE Financial Services of Virginia, Inc. Increases Dividend Payout Frequency

BOE Financial Services of Virginia, Inc. (Nasdaq: BSXT), announced today that at its February 22, 2007 meeting the Board of Directors declared a first quarter dividend of $0.19 per share.