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Finance Research News - January, 2008















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

Credit Research News - January, 2008



Discover Financial Services to Present at the Credit Suisse 2008 Financial Services Forum

David Nelms, chief executive officer of Discover Financial Services, will present at the Credit Suisse 2008 Financial Services Forum



Comdata(R) Processing Systems, Inc. Enters Into Agreement with Discover Financial Services

Comdata(R: 57.07, +1.83, +3.31%) Processing Systems, Inc. announces it has entered into a merchant acquiring agreement with Discover Financial Services



Financial services firm hacked

Davidson Companies discloses that hackers gained access to a customer information database



MF Global to Present at the Credit Suisse Financial Services Forum

Kevin R. Davis, chief executive officer of MF Global Ltd. (NYSE: MF), the world's leading broker of exchange-listed futures and options



Enterprise Financial Services Corp./Olin earnings

Enterprise Financial Services Corp. said solid growth in loans and deposits helped boost fourth-quarter profits.



Serious financial trouble for Academic Financial Services

It's a beautiful ranch, with horses, a guest house, a home with a screened-in pool and U-Haul vans.



Oriental Financial Group Enters Into Mortgage Alliance With Primerica Financial Services

Oriental Financial Group Inc. (OFG | news | PowerRating | PR Charts ) on Tuesday announced that it entered into an exclusive alliance with Primerical Financial Services



GMAC Financial Services Schedules Release of 2007 Fourth Quarter and Year-End Financial Results

GMAC Financial Services has scheduled the release of its 2007 fourth quarter and year-end financial results for Tuesday, Feb. 5, 2008.



LPL Financial Services Expands in Charlotte

Linsco/Private Ledger Corp. (LPL Financial Services), one of the largest independent brokerage firms in the U.S.



Enhanced ITM Business Suite Module Optimizes Vendor Management for Financial Services Industry

New Portfolio Approach, Integrated Risk & Financial Analysis Enables Banks to Streamline Compliance Efforts and Save Millions Annually on Vendor Spending



Weststar Financial Services Corporation Reports Record Assets of $174 Million

Weststar Financial Services Corporation (OTC Bulletin Board: WFSC) reported consolidated net income of $488 thousand for the three months ended December 31, 2007



iStar Financial to Participate in the Citigroup 2008 Financial Services Conference

iStar Financial Inc. , a leading publicly traded finance company focused on the commercial real estate industry, will participate in a moderated discussion at the Citigroup 2008



Harris CEO to Present at the Citigroup 2008 Financial Services Conference

Ellen Costello, Chief Executive Officer, Harris Bankcorp, Inc., will be a presenter at the Citigroup 2008 Financial Services Conference in New York at 8 a.m.



Metastorm Releases New Financial Services Process Pod(R)

Process Framework Accelerates New Account On-Boarding, Improves Client Satisfaction and Reduces Risk



M&O Teams With VSR Financial Services in 'Putting Representatives First'

Leading Enterprise Data Management Solutions Firm to Provide Ongoing Support



21st Century Financial Services Allied with Digital Insight

21st Century Financial Services™, a data processing services provider to the US community bank marketplace



Tower Financial Corporation Declares First Quarter Cash Dividend of $0.044 Per Share

Tower Financial Corporation (Nasdaq:TOFC) announced today that its board of directors declared a first quarter cash dividend of $0.044 per share



Countrywide Fraud Suit Expands To 26 More Financial Services Firms

The New York City Comptroller, New York State Comptroller and New York City Pension Funds expanded the consolidated class-action lawsuit



CapitalSource Inc. to Participate in the Citi 2008 Financial Services Conference

CapitalSource Inc. announced today that Dean Graham, President and Chief Operating Officer is scheduled to make a presentation at the Citi 2008 Financial Services Conference



National City Corporation to Present at the Citigroup 2008 Financial Services Conference

Peter E. Raskind, Chairman, President & Chief Executive Officer of National City Corporation , will present at the Citigroup 2008 financial services conference



Financial Services Roundtable President to Demonstrate 'Growing Consensus' for Regulatory Overhaul

Industry support for the U.S. to adopt 'principles-based' system of regulation is growing



Financial firms confident about pandemic plans -- but telecommuting may be wishful thinking

Report on simulated flu outbreak says business shouldn't be disrupted, despite hurdles



Caterpillar Financial Services Q4 Profit Down 3% - Quick Facts

Caterpillar Financial Services Corp., a unit of Caterpillar Inc. (CAT | news | PowerRating | PR Charts ), reported fourth quarter profit after tax of $113 million



First Horizon National Corp. to Present At Citigroup Financial Services Conference

Jerry Baker, CEO of First Horizon National Corp. (NYSE:FHN), will present at the Citigroup Financial Services Conference Wed., Jan. 30, at 8:00 a.m.



Hartford Financial Services Group core earnings above Street view

Hartford Financial Services Group (NYSE:HIG PRC) (NYSE:HIG) Inc. late Thursday reported fourth-quarter core earnings, which exclude net realized investment gains and losses



Epsen Fuller/IMD International Search Group Expands Financial Services and CIO

Executive search firm Epsen Fuller/IMD International Search Group is pleased to announce the successful completion of a merger with JVJ Associates



Regions Financial Scheduled to Participate in the Citigroup 2008 Financial Services Conference

Regions Financial Corporation (NYSE:RF) is scheduled to present at the Citigroup 2008 Financial Services Conference.



First Cash Financial Services (FCFS) NewsBite - First Cash Financial Services Profit Falls 40.8%

First Cash Financial Services Inc. (FCFS) opened at 10.07. So far today, the stock has hit a low of 8.51 and a high of 10.77.



Lincoln Financial Network announces affiliation with Level Four

Lincoln Financial Network, the retail sales and financial planning division of Lincoln National Corp., said it has become affiliated with the Level Four Group of companies.



Bellwether Stock Analysis: First Cash Financial Services Inc. Financial

Today Bellwether Report has identified First Cash Financial Services Inc. (NASDAQ:FCFS), a company that our analysts will be tracking over the ensuing weeks.



Analyst Actions: Apple, Motorola, Petsmart, First Cash Financial Services

Caris analyst Shebly Seyrafi says he's downgrading Apple Apple (AAPL) to above average from buy to reflect slowing iPod sales



UCBH Holdings, Inc. to Present at the Citigroup 2008 Financial Services Conference

UCBH Holdings, Inc. (NASDAQ:UCBH), the holding company of United Commercial Bank (UCB(TM)), announced that it has been invited to present at the Citigroup 2008



SVB Financial Group to Present at Citi 2008 Financial Services Conference

SVB Financial Group (NASDAQ: SIVB) announced today that Michael Descheneaux, chief financial officer, will present at the Citi Investment Research 2008



Examine the Teens, Money, Payment Cards and Financial Services in the U.S.

Reportlinker.com announces that a new market research report related to the Credit Cards industry is available in its catalogue.



U.S. Bancorp Fund Services Chooses Streamlined Solutions from Wolters Kluwer Financial Services

Wolters Kluwer Financial Services and Advent Software, Inc. today announced that U.S. Bancorp Fund Services, LLC, a subsidiary of U.S. Bancorp



Canopy Financial Partners With Wolters Kluwer Financial Services to Deliver New HSA Management

Partnership Extends Canopy's Market Reach of Award-Winning Healthcare Banking Technology to Banks and Credit Unions Nationally



Korn/Ferry International Bolsters Financial & Board Services Market

Korn/Ferry International , a premier global provider of talent management solutions, today announced that Rob Grandy will relocate to Hong Kong to head up the Firm's Financial Services



UnionBanCal Corporation’s Chief Operating Officer to Address Citigroup 2008 Financial Services Conf.

UnionBanCal Corporation (NYSE:UB) Chief Operating Officer Philip Flynn will address attendees of the Citigroup 2008 Financial Services Conference in New York City



DST Systems, Inc. Announces Fourth Quarter 2007 Financial Results and Increased Share Repurchase

Consolidated net income for DST Systems, Inc. was $63.7 million ($0.92 per diluted share) for the fourth quarter 2007 compared to $81.0 million



Kingsway announces Chief Financial Officer appointment

Kingsway Financial Services Inc. today announced the appointment of Shelly Gobin as Vice President and Chief Financial Officer.



Weak Dollar, Services, and Power6 Give IBM a Solid Fourth Quarter

After pre-announcing on last Monday morning that it would have better than expected profits in its fourth quarter, giving Wall Street a helping hand



PNC Financial Services "equal weight," target price reduced

Analyst Jason M Goldberg of Lehman Brothers maintains his "equal weight" rating on PNC Financial Services (PNC.NYS), while reducing his estimates for the company.



First American on negative watch on Q4 2007 after-tax loss expectation - Fitch

Fitch Ratings said it has placed the ratings on First American Corp (NYSE:FAF) , including its 'A-' issuer default rating and 'BBB+'



Commission to Modernize Regulation of Financial Services holds first meeting

Governor Eliot Spitzer Friday held the first formal meeting of the Commission to Modernize the Regulation of Financial Services



City National Corporation (NYSE:CYN) announced today that Chief Financial Officer Christopher J. Car

Measures to boost the U.S. economy should include tax rebates for most Americans and additional assistance for the unemployed



First NLC Financial Services Files For Bankruptcy Protection Under Chapter 11 - Quick Facts

Friedman, Billings, Ramsey Group, Inc. (FBR | news | PowerRating | PR Charts ) on Friday said its mortgage origination subsidiary First NLC Financial Services



Northern Trust Corporation to Present at the Citigroup Financial Services Conference in New York

Northern Trust Corporation announced today that Steven L. Fradkin, Executive Vice President and Chief Financial Officer



N.Y. seeks to modernize financial services regulations

A new commission to modernize New York state’s regulation of financial services said Friday it will consider having a single state regulator



Vestar adds healthcare expert, financial services specialist to New York team

US firm Vestar Capital Partners has appointed financial services specialist Victor Cohen as a vice president and healthcare and health media expert Evan Marks as a principal in its Vestar Resources team. Both will be based in the firm's New York office.



City National to Present At Citigroup 2008 Financial Services Conference

City National Corporation (NYSE:CYN) announced today that Chief Financial Officer Christopher J. Carey is scheduled to deliver a presentation at the Citigroup 2008 Financial Services Conference



Hartford Financial Services CFO David Johnson To Depart - Update [HIG]

Hartford Financial Services Group Inc. (HIG), a diversified financial services company, announced that its executive vice president and chief financial officer



MFS confirms spin off of Stella, Financial Services

(RWE Aust Business News) MFS Ltd (ASX:MFS) has confirmed it will separate Stella Group and MFS Financial Services



IBM Skips Past 4Q Estimates

IBM on Thursday delivered stellar fourth-quarter earnings, posting a profit of $3.96 billion, or $2.80 a share, on sales of $28.9 billion.



Ibbotson Study Finds Living Benefits Can Help Increase Retirement Income While Reducing Income Risk

Ibbotson Associates, a registered investment advisor and wholly owned subsidiary of Morningstar, Inc. , today released a study finding that adding a variable annuity



Standard Bank Signed a New Technology Services Agreement With IBM

Standard Bank's Argentine branch signed a technology services agreement with IBM (NYSE: IBM) which includes hosting



NAHB and Financial Services Roundtable Ask Congress to Raise GSE Conforming Loan Limit

The National Association of Home Builders (NAHB) and Housing Policy Council (HPC) of The Financial Services Roundtable



Citizens Financial Services, Inc. Declares Dividend

The Board of Directors of Citizens Financial Services, Inc. the bank holding company for First Citizens National Bank



House Financial Services Republican Resigns to Take Industry Job

Rep. Richard H. Baker , R-La., will resign from the House within weeks to head the Managed Funds Association, the trade group for the hedge fund industry.



City National Bank Hires 22-Year Veteran of Financial Services Industry as Branch Relationship

City National Bank today announced that it has hired well-known southern Nevadan and highly qualified banking veteran Gary Mamiya



DALBAR Announces Its 2007 Service Award Winners in Financial Services

Today DALBAR released the 2007 winners of its annual Service Awards.



First American Guides Q4; Plans To Spin-off Financial Services Businesses - Quick Facts

First American Corp. (FAF | news | PowerRating | PR Charts ) announced that it expects fourth quarter revenues to be about $1.9 bln



FINANCIAL SERVICES: Securities climb at accelerated rate

Securities, commodity contracts and other financial investment activities continued to climb at an accelerating rate, reaching $499 billion in 2006



Nomis Solutions Raises Strategic Value of Pricing for the Financial Services Industry

Nomis Solutions the leader in Profit-based Pricing for banking and finance, today announced the immediate availability of Nomis Price Optimizer™ 3.3.



Financial Services Committee Chairman Barney Frank to Join Experts at a Town Hall Meeting

With Congress returning this week to focus on a plan to jump-start the economy, congressional and progressive leaders will hold a town hall meeting on Capitol Hill



GE Energy Financial Services raises 2010 investment target

Energy-focused investment firm GE Energy Financial Services has announced that it has raised its 2010 renewable energy investing target by 50% to $6 billion.



CSI: Open Source

While "CSI" is well known in popular culture thanks to the "CSI: Crime Scene Investigation" TV shows, the former head of the Open Source Development Labs (OSDL)



Wolters Kluwer Financial Services' CCH Capital Changes Releases Top Ten Corporate Actions

Wolters Kluwer Financial Services today released its annual Top Ten Corporate Actions list, which includes 2007 corporate events



IBM Results Signal Bright Spots In Technology Sector

International Business Machines Corp.'s (IBM) surprisingly strong fourth quarter suggests some bright spots exist in technology despite anxiety about an economic slowdown.



Bibby Financial Services Announces Appointment of CEO, Stewart Chesters

Bibby Financial Services is pleased to announce the appointment of Stewart Chesters as Chief Executive Officer for the North American division.



First NLC Financial Services To Liquidate

First NLC Financial Services LLC (FNLC), the mortgage origination subsidiary of Friedman, Billings, Ramsey (FBR) Group Inc.,



New Report Examines the Role of Web-Based Marketing in the Financial Services Marketing Mix

Research and Markets (http://www.researchandmarkets.com/reports/c79356) has announced the addition of Financial Services Marketing in the Digital Age to their offering



Business people

Bremer Financial, St. Paul, named Stephen Kruchten president of Bremer Investment Services. He was regional vice president with AXA-Equitable.



Business as usual

If you're among the millions of homeowners who are customers of Countrywide Financial Corp., you're probably wondering how the sale of the troubled lender to financial-services giant Bank of America Corp. affects you.



Confidence Sinks to Record Low

Consumer confidence fell to an all-time low as worries about jobs, energy bills and home foreclosures darkened people's feelings



Breaking News: First NLC Financial Services Files for Bankruptcy

First NLC Financial Services, LLC, the lending subsidiary of Friedman, Billings, Ramsey Group Inc. (FBR), said Friday that it will file for Chapter 11 bankruptcy



CIT Group to post 4th-quarter loss

Financial services firm CIT Group Inc. said Friday it will lose between $125 million and $135 million in the fourth quarter due to increasing



Wendy Williams Named Vice President, Brokerage Sales

HSA Bank(R), a division of Webster Bank, N.A., a subsidiary of Webster Financial Corporation (NYSE: WBS), announces the appointment of Wendy Williams as Vice President, Brokerage Sales.



GE, RES Partner on New Wind Farm, Adding Clean Energy to Texas Oil Drilling Area

GE Energy Financial Services, a unit of GE (NYSE: GE: 35.56, -0.24, -0.67%), is investing in a $350 million, 166-megawatt wind generation project to supply Austin with renewable



Financial Services Co. Nabs More Than $24 Million for Refinance of Michigan Properties

Farmington Hills, Mich.-based iCap Realty Advisors recently secured $24.15 million in refinancing for residential and commercial properties in three Michigan cities.



Air Force Changes Financial Services

Airmen overseas will soon rely on a central finance center in South Dakota to process routine transactions such as travel vouchers, pay requests and allotments.



Lightyear Capital Adds Industry Veteran Chris C. Casciato as Managing Director

Lightyear Capital LLC ("Lightyear"), a New York-based private equity firm focused on financial services investing, today announced that industry veteran Chris C. Casciato



Vesdia Appoints James Douglass CEO

Vesdia Corporation, a leading provider of loyalty marketing services, announced today that James Douglass, a current member of Vesdia's Board of Directors



FalconStor and Voltaire Turbo-charge Xasax's Ultra-Low Latency Financial Network...

FalconStor Software, Inc. (NASDAQ:FALC), the market leader in disk-based data protection solutions, today announced that its technology has been chosen to enable Xasax Corporation



Doug Lebda Appointed Chairman and CEO of IAC's Financial Services and Real Estate Businesses

IAC , in the first of its announcements related to the organization and structure for each of the planned five independent public entities



Blink Logic's Business Intelligence Solution Selected by Global Financial Services Leader

Major financial services provider using Blink Logic on-demand BI software to monitor effectiveness and performance of its financial service products.



Jefferies Expands Financial Services Research Coverage

Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF: 17.29, -0.34, -1.92%) announced the further expansion of its financial services research coverage.



UMB Healthcare Services Reaches $100 Million in HSA Assets

UMB Healthcare Services, a division of UMB Financial Corporation (NASDAQ: UMBF: 37.27, +0.13, +0.35%), announced a company milestone by exceeding $100 million in Health Savings Account



Robert C. Armstrong Appointed Managing Partner of John Hancock Financial Network's Portland, Oregon

Robert C. Armstrong has been appointed Managing Partner of the independent office of John Hancock Financial Network (JHFN)* located in Portland, Oregon



SVB Financial Group Turns 25

Company's Growth Strategy Takes Successful Client-Focused Approach Global SVB Financial Group (Nasdaq: SIVB) celebrates its 25th year in 2008



Helicos BioSciences signs credit facility with GE Healthcare Financial Services

Helicos BioSciences Corporation (NASDAQ: HLCS), a life science company, said on 4 January that the company has completed a USD20m senior secured credit facility from GE Healthcare Financial Services



Cities' services might be cut further to cover retirees' insurance

As cities warn that state-ordered tax cuts could lead to padlocked parks and unrepaired roads, a new and seemingly innocuous set of accounting rules



Former Xerox headquarters to become GE Energy's new home

GE Energy Financial Services will move into the 275,000-square-foot office complex that Xerox Corp. left last year for smaller quarters in Norwalk, officials said.



Getting, Keeping Clients Priority for Financial Services Firms

Forty-nine percent of respondents expressed concern about getting and keeping clients, according to the subscriber survey published in The Cerulli Edge - U.S. Asset Management Edition December 2007 Year-end Issue.



BancorpSouth Insurance Services, Inc., Acquires Arthur J. Gallagher's Springfield, Missouri Office

BancorpSouth Insurance Services, Inc., a subsidiary of BancorpSouth Bank, headquartered in Tupelo, Mississippi, announced today that it has acquired the property



Helicos BioSciences Arranges $20 Mln Credit Facility With GE Healthcare Financial Services

Helicos BioSciences Corporation (HLCS), a life sciences company, said Friday it closed a $20 million senior secured credit facility with GE Healthcare Financial Services



Ahead of the Bell: Services Index

Wall Street economists expect a measure of business activity in the service sector to show slower growth in December than the previous month



PRESS DIGEST - Financial Times - Jan 4

As part of a regulatory shake-up by Chancellor of the Exchequer Alistair Darling, sweeping powers are to be given to the Financial Services Authority



Rand Study Finds Complexity of Financial ServicesIndustry Makes It Difficult for Individual Investor

The financial services industry is complex and financial service professionals are becoming less distinguishable and more inter-related



International Financial Services Organization Invests 688,000 Euro with Telelogic

Telelogic (Nordic Exchange/MidCap/TLOG) (STO:TLOG) today announced that an international financial services organization has signed a license and maintenance agreement



Bibby Financial Services Announces Appointment

Bibby Financial Services is pleased to announce the appointment of Dominique F. Villarreal, VP of Operations for their new Houston location.



Dodd Campaign Cashes In On Financial-Sector Ties

Senate Banking Chairman Chris Dodd spoke at a dinner in September before about 75 top financial-services executives at the Washington Ritz Carlton.



Chamber “Business After 5” at Baystate Financial Services on Jan. 23

The Falmouth/Cumberland Community Chamber invites you to attend Business After 5 on Wed., Jan. 23, at Baystate Financial Services, 75 Leighton Rd., Ste 3, Falmouth.



Kingsway Financial Services Q4 2007 Guidance Update Call

Welcome to the Kingsway Financial Services Inc. conference call.



FINANCIAL: $16 billion holding firm includes Dallas-based commercial lender

Newly minted shares of Guaranty Financial Group Inc. rose more than 10 percent in their first day of regular trading on the New York Stock Exchange


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