Credit Research News - July, 2008

WTO members offered to open up financial services

Several countries signaled a willingness to make significant openings in financial services during trade talks last week

PricewaterhouseCoopers M&A Insights Report: Continued Instability in the Financial Services Industry

Sovereign Funds and Private Equity Step Up with Capital for Cash Strapped Banks

Wolters Kluwer Financial Services Introduces Comprehensive Suite of FHA Lending Services

To help financial institutions address the growing interest in Federal Housing Administration (FHA) home loans, Wolters Kluwer Financial Services

Amscot Financial Launches 3rd Annual 'Just A Dollar' Campaign to Support Local Education Foundations

Over the past two years, customers and the company have combined to raise more than $110,000 for local education foundations in the counties that Amscot serves

The First American Corporation Reports Preliminary Financial Results for the Second Quarter of 2008

Results Reflect Meaningful Improvements in Operating Efficiency -

Ahead of the Bell: GMAC's 2Q report

GMAC Financial Services, the financing arm of General Motors Corp., is slated to release its second-quarter results before the market opens on Thursday.

Citigroup Inc (C) newly added by Haverford Financial Services Inc

Haverford Financial Services Inc added the Citigroup Inc (C) company to their portfolio, by buying 10,139 shares

Kingsway Financial Services (KFS) holdings reduced by Omers Administration Corp

Omers Administration Corp sold -82,200 (-79.24 %) of their shares in Kingsway Financial Services (KFS), bringing their current holdings to 21,526 shares

Emc Corp (EMC) holdings reduced by Ramond James Financial Services Inc

Ramond James Financial Services Inc sold -6,176 (-10.87 %) of their shares in Emc Corp (EMC), bringing their current holdings

Prudential 2Q financial services net falls

Prudential Financial Inc. late Wednesday reported second-quarter net income for its financial services businesses of $575 million

Virtusa Announces First Quarter Fiscal Year 2009 Financial Results and Share Repurchase Plan

First quarter revenue of $42.5 million increased 14% year-over-year -- Commenced work with 7 new clients in the first quarter -- Board authorizes share repurchase program of up to $15 million of common stock

John Hancock Funds Launches Redesigned Adviser Center

John Hancock Funds announced the launch of its newly redesigned Adviser Center on its award-winning web site http://www.jhfunds.com.

NASA awards financial services contract

The U.S. space agency said it will award a $29 million contract to Al-Rtazaq Computing Services for financial support services

1st Financial Services Corporation Shareholders Approve Proposals

1st Financial Services Corporation , parent company of Mountain 1st Bank & Trust Company, reported today that shareholders

AmTrust Financial Services, Inc. Reports Second Quarter Net Income of $26.4 Million

AmTrust Financial Services Inc. , today reported net income of $26.4 million and gross written premium of $301.1 million for the second quarter 2008

Hartford Q2 operating earnings down; beat view

Hartford Financial Services Group Inc's (HIG.N: Quote, Profile, Research, Stock Buzz) earnings fell in the second quarter

Visa Sends Clients of Elan Financial Services to the Beijing 2008 Olympic Games

Employees From Desert Schools Federal Credit Union and USA Credit Union Win Visa's Olympic Games Promotion

Jaspersoft and ALaS Consulting Partnering to Serve Business Intelligence Clients in the Northeast

To help provide onsite installation and integration services to its clients in the Northeastern United States, Jaspersoft (Jaspersoft.com),

Hartford Financial's Net Falls 13%

Hartford Financial Services Group Inc.'s second-quarter net income dropped 13% on securities losses and lower profits

Focus Financial Partners' Growth Continues in 2008 with Three Transactions

Focus Financial Partners, LLC, the first global partnership of independent wealth management firms with over US$29 billion

Perks Still in Play But Sometimes Are Less Lavish

Financial services companies were largely rolling back executive fringe benefits in 2007.

Provident Financial Services, Inc. Q2 2008 Earnings Call Transcript

Provident Financial Services, Inc. (PFS) Q2 2008 Earnings Call Transcript

Top GVP of Ameriprise Financial Leaves to Join Brewer Financial Services as President

Brewer Investment Group is pleased to announce the addition of Bob Whalen, former Group Vice President of Ameriprise Financial Services

CGI Transforms Wake County, North Carolina's Budget and Financial Processes with AMS Advantage(R)

CGI Group Inc. (TSX: GIB.A; NYSE:?GIB), a leading provider of information technology and business process services

S3 Investment Company Announces Settlement of Legal Action Against Financial Services Firm

S3 Investment Company, Inc. (PINKSHEETS: SIVC), a holding company with subsidiary operations in the China market

Investors move into banks on pledge to not issue flood of new shares, not signs crisis over

With many U.S. banks still reporting massive writedowns and even quarterly losses from bad mortgage investments

Irwin Financial Corp. sells $1.6B in assets to focus on banking

Shares of Columbus-based Irwin Financial Corp. rose 29 percent today on news that the company plans a strategic restructuring

Stocks Tumble on Grim Home Sales, Earnings

It was nice, if not entirely convincing, while it lasted. The extended rally in major U.S. stock indexes ended Thursday

StockCross Financial Services Opens Global Trading Floor

Industry Veteran Gerry Mastrianni Named Managing Director

Orrstown Financial Services, Inc. Announces Second Quarter Earnings Up 11.9% and Third Quarter

Orrstown Financial Services, Inc. (OTC Bulletin Board: ORRF) is pleased to announce the net operating results for the second quarter

Mitchell Derenzo of American River Bankshares to Speak at Financial Services Conference

Mitchell Derenzo, Executive Vice President and CFO of American River Bankshares, is scheduled to speak at the 9th Annual KBW Community Bank Investor Conference

2 financial services firms add officers

Two local financial services outlets recently added new vice presidents to their rosters.

Unitus Launches Financial Services Firm to Channel Capital to Social Entrepreneurs in Emerging Marke

Unitus, Inc., Announces the Launch of Unitus Capital, One of the First Financial Advisory Firms Designed to Meet the Investment Needs of Social Entrepreneurs Serving the Bottom of the Economic Pyramid.

Omni Financial Services names new CFO

Omni Financial Services Inc., which will soon delist itself from NASDAQ, has hired banking veteran Thomas J. Flournoy

Fair Isaac Announces Third Quarter 2008 Results

Earnings per share of $0.54, including a gain from discontinued operations of $0.16; Earnings per share from continuing operations of $0.38

WaveMaker and Xignite Partner to Provide Financial Services Mashups

WaveMaker Visual Ajax Studio Enables Rapid Application Development and Deployment for Xignite Web Services

EVault and Harland Financial Solutions Provide Credit Unions with Online Backup and Recovery Service

EVault, Inc., a Seagate Technology (NYSE:STX) company and the leader in online backup and recovery, today announced that Harland Financial Solutions has signed more than 40

GMAC Financial Services Announces ResCap Management Changes

Marano to assume ResCap CEO role; Weintraub named vice chairman; Renzi appointed COO MINNEAPOLIS, July 22

Wolters Kluwer Financial Services Publishes 2008 "New York Stock Exchange Guide

Wolters Kluwer Financial Services announced today the availability of its 2008 "New York Stock Exchange Guide

Collaborative Software Initiative Hires Senior AMD Financial Services Industry Executive

Richard Reichgut to Direct Financial Sector Projects for New York Region

Centralized Counterparty Data Recognized by Financial-Services Firms as an Asset to Fuel Business

With financial risk management a top priority, the need to obtain a complete view of credit exposure by counterparty

New Business Blog For Financial Services Professionals Debuts

Consulting, training, and coaching specialist to the financial services industry, Omega Performance, launches Ideas You Can Bank On

NASA Ames Awards Contract for Financial Services Support

NASA's Ames Research Center, Moffett Field, Calif., will award a Small 8 (a) Business performance-based task order under a General Services Administration Financial

Citizens Financial Services, Inc. Reports Second Quarter 2008 Earnings

Citizens Financial Services, Incorporated , parent company of First Citizens National Bank, has released its unaudited financial performance

DFCU Financial and CapCom Credit Union to Merge

DFCU Financial Federal Credit Union headquartered in Dearborn, Michigan, and CapCom Credit Union, headquartered in Lansing

Eagle Financial Services Q2 profit rises - Quick Facts

Eagle Financial Services, Inc. (EFSI.OB: News, Chart, Quote ) on Monday reported increased net income of $2.1 million

Comdata(R) Promotes Keela Wofford to Senior Vice President, Financial Services

Comdata(R) Corporation, a leader in payment innovation, has promoted Keela Wofford to senior vice president, financial services.

PSA Insurance & Financial Services Announces Acquisition of Alliance Benefit Group Mid-Atlantic

Deal for Provider of Employee Retirement Programs Adds Depth of Talent, Services for Growing Firm

Kingsway Financial Services (KFS) completely dumped by Lotsoff Capital Management

Lotsoff Capital Management completely dumped all -791 shares they owned of Kingsway Financial Services (KFS) as shown by filings made public on 2008-07-18.

Lots of red ink in financial services funds

Damages to financial services stock funds.

PHAZAR CORP Announces FINRA Arbitration Claim and Suit Against UBS Financial Services, Inc.

PHAZAR CORP, announced today, that on June 26, 2008, the Company filed a claim in arbitration against UBS Financial Services

PNC Financial Services Group Crosses 50-Day and 200-Day Moving Averages On Positive Earnings

PNC Financial Services Group jumped more than 13% on Thursday after the company reported positive second quarter earnings.

Kingsway Financial Services (KFS) completely dumped by Bridgewater Associates Inc

Bridgewater Associates Inc completely dumped all -87,700 shares they owned of Kingsway Financial Services (KFS) as shown by filings made public

BrightStaff Recruitment Seeks Financial Services Professionals for Offshore Accounting

Referring a Qualified Job Seeker to Brightstaff Can Earn You Up to US $4,000

Services, Software Propel IBM To 13 Percent Q2 Growth

IBM (NYSE:IBM) remains seemingly immune to the economic slowdown, recording 13 percent sales growth to $26.8 billion

DTCC Names New Head of Insurance Services

The Depository Trust & Clearing Corporation (DTCC) announced the appointment of Adam Bryan, a 20-year veteran

Wells Fargo Announces Key International Insurance Services Executive Appointments

Patrick Hickey Joins as Managing Director and National Practice Leader for International Employee Benefits Jim Gervang Named Western Head of International Risk Services (Property & Casualty)

iGATE Reports Strong Net Income Growth in 2008 Second Quarter

iGATE Corporation (Nasdaq:IGTE), an integrated technology and operations (iTOPS) company, today announced its financial results

NIIT Expands Offerings to Banking, Financial Services and Insurance Companies

NIIT’s Enterprises Solutions Company has expanded its service offerings for Fortune 500 businesses to include Information Technology Training for Banking

Gateway selects patient financial services director

Gateway Medical Center recently named Bill Cashner as its new director of Patient Financial Services.

PNC profit rises 19 percent, stock climbing

PNC Financial Services Group Inc. reported a second-quarter profit this morning of $505 million, up 19 percent from a year ago

Operation HOPE's National Board Enhanced as Wolters Kluwer Financial Services President and CEO

Mr. Longe Joins the "Silver Rights Movement" to Educate Adults and Youth on Economic Responsibility

CRM, Other IT Outsourced to Savvis by CMP

CMP Information, a publisher owned by United Business Media, has signed a multi-million dollar, five-year deal with Savvis to outsource IT resources

State Street's Sprouting Customer Base

State Street wowed Wall Street on Tuesday by beating analysts' expectations and boosting year-end guidance as a result of strong new business

Omni Financial Services voluntarily delists

Omni Financial Services Inc.'s board has voted to remove the company's stock from NASDAQ trading, following several notices of noncompliance.

HP Certified to Manage Customers' IT Asset Disposition

Leading Industry Analyst Firm Gives HP High Marks for Reuse and Recycling Capabilities

AARP Announces Richard Hisey as New President of AARP Financial Inc. and AARP Funds

AARP announced the appointment of Richard (Mac) Hisey as the new President of both AARP Financial Inc. and AARP Funds. AARP Financial

Scottrade Selects Scivantage to Deliver Scottrade Advisor Services' Next-Generation Platform

Firm to deploy Scivantage Professional, including leading cost basis solution Maxit(TM), to help streamline advisor workflow and support growing independent advisor business

New TalentQuest White Paper Details Key Personality Traits, Competencies of Effective Performers

Greater Talent Pool Provides Unique Opportunity for Financial Institutions to Develop "All-Star" Teams During Sluggish Economy

Don't let yourself be lunch for the financial services industry - read this book

Securities lawyer and investment adviser Daniel R. Solin has saved our bacon once again, just as he did at this time last year.

A.M. Best Downgrades Ratings of Kingsway Financial Services Inc., Kingsway America Inc.

A.M. Best Co. has downgraded the issuer credit ratings (ICR) to "bb-" from "bb" of Kingsway Financial Services Inc. (KFSI) (Mississauga, Ontario)

SBA's 2008 Financial Services Champion Offers Advice on Avoiding the 5 Most Common Mistakes

Mike Semanco, President of Hennessey Capital and the 2008 Michigan SBA Financial Services Champion of the Year

Wolters Kluwer Financial Services Introduces Red Flags Tool Kit

Convenient Tool Kit Helps Financial Institutions Build and Implement an Effective Identity Theft Prevention Program

GLBT Consumers See Financial Services Differently Than Others

New online study also shows GLBT adults are less comfortable with financial services providers than heterosexual consumers

Ford Motor Company Selects Cross Country Automotive Service to Provide Emergency Roadside Assistance

Cross Country Automotive Services (Cross Country), a leading provider of vehicle and driver programs, including its flagship roadside assistance service

Hartford Financial Services Group Sets Second Consecutive Yearly Low

Hartford Financial Services Group (HIG: News, Chart, Quote ) gapped down slightly Friday and declined throughout the first 2 hours of trade.

Regulation – “Financial institutions must be allowed to fail” says Paulson

In a presentation to the US House Committee on Financial Services last Thursday in Washington, Henry Paulson, the US Treasury Secretary

Everyone knows Motown and Silicon Valley. But what is Jacksonville's identity in the business world?

The era when Jacksonville was known as the Hartford of the South for its insurance companies has come and gone.

GE Says Co Well Positioned Once Announced Deals Complete

Investors looking for a major breakup of General Electric Co. (GE) could be in for some disappointment.

S&P raises Ameriprise Financial rating 1 notch

S&P raises Ameriprise Financial rating 1 notch; affirms rating on insurance subsidiaries

se2 Appoints New President

se2 (service.end2end), a provider of business technology and processing solutions for the financial services and retirement planning sector

Bernanke, Paulson Aim To Calm Mkts While Urging Wider Powers

Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke tread a fine line before a U.S.

For Financial Services Professionals Under Pressure: A "Suite Offer" from The Gallagher Group (Gg)

For many financial services professionals, this year will be the toughest in memory.

Discover Financial Services Ranks among Top 100 Workplaces for Information Technology Professionals

Computerworld's annual list based on work environment, benefits and employee survey

Scales tilt in favor of Fed getting new powers

Key lawmaker signals he would support a broadening of the Fed's oversight

Alphera Financial Services Reaches $1 Billion in Serviced Assets Milestone

BMW Group Business Unit Sees Impressive Growth by Providing Premium Service to Dealers and Customers Outside BMW Brands

Triad Advisors to merge with Ladenburg Thalmann Financial Services

Ladenburg Thalmann Financial Services Inc. will buy metro Atlanta broker-dealer and investment adviser Triad Advisors Inc. in a cash

Wolters Kluwer Financial Services Announces Details of the 2008 CRA & Fair Lending Colloquium

Unique Event Gives Senior Compliance Professionals the Rare Opportunity to Learn From and Network With Industry Leaders and Regulators

US STOCKS-Wall St extends gains on Bernanke's testimony

U.S. stocks added to gains on Thursday as a source familiar with Federal Reserve Chairman Ben Bernanke's testimony

Korn/Ferry Recruits Frankfurt-Based Executives to Enhance Global Financial Services Presence

Korn/Ferry International , a premier global provider of talent management solutions, today announced three senior-level executives

Fpl Group Inc (FPL) holdings reduced by Penseco Financial Services Corp

Penseco Financial Services Corp sold -100 (-0.74 %) of their shares in Fpl Group Inc (FPL), bringing their current holdings to 13,262 shares

Yahoo Inc (YHOO) holdings reduced by Penseco Financial Services Corp

Penseco Financial Services Corp sold -1,100 (-33.33 %) of their shares in Yahoo Inc (YHOO), bringing their current holdings to 2,200 shares

Allianz of America Supports Creation of Office of Insurance Information

Allianz of America is in favor of legislation that would establish an Office of Insurance Information within the federal government.

Data Reveals Top Skills Employers Seek On Job Posts

Along with IBM and SkillProof, the State of Connecticut's data analysis technology is helping state colleges and universities refine and develop curriculum.

Opening Glance: Insurers

Shares of insurers edged higher early Tuesday as the broader market rose slightly after Federal Reserve chairman Ben Bernanke

Web 2.0 in Financial Services - Available Now

Research and Markets (http://www.researchandmarkets.com/research/1becff/web_2_0_in_financi) has announced the addition of the "Web 2.0 in Financial Services" report to their offering.

Freddie Mac leads financial-services stocks lower

Freddie Mac led a sharp decline among financial-services stocks on Monday on concern the mortgage-finance giant needs to raise a lot more capital and could be having trouble doing that.

Jean Duffy, Holmes Murphy Financial Services, Earns Top Advisor Award From Securian Financial

Jean Duffy, a financial advisor with Holmes Murphy Financial Services and a resident of Des Moines

Capital Worries Send Fannie, Freddie Skidding

Comparisons with March 17th have become one of the hallmarks of unwelcome developments for the financial services sector.

Montana financial-services firm opens Hub office

D.A. Davidson & Co., a Montana-based financial services holding company that has more than 975 associates in 17 states

Co-operative Financial Services restructures executive team

The Co-operative Financial Services has announced a restructure of its executive team, following the departure of chief operating officer Stephen Pater, who has decided to leave the organisation next month (August)

Oh, No, Bankrate Is Mortal

Financial rate publisher Bankrate has finally flown too close to the sun with its waxy wings, lowering its guidance this morning

Hospital's financial collapse brings lots of finger-pointing

For patients and employees at the Osteopathic Medical Center of Texas, word of the hospital’s demise came suddenly

A Fund Manager's Worst Nightmare

It wasn't pretty. Financials, as usual, were taking a dive. And at BlackRock Global Financial Services mutual fund, that meant another stressful day.

Look around before choosing financial services

Consumers can benefit by taking time to shop around for the best deal in financial services.

Higher oil prices hurt services sector

Higher oil prices caused service businesses to shrink in June, as falling new orders and rising costs hit the nation's coffee shops

Greener Grass In Financial Services

As my colleague Marianne Kolbasuk McGee pointed out in a recent blog, while the financial services industry is under a dark cloud

Pinnacle Financial buys Murfreesboro insurance company

Nashville's Pinnacle Financial Partners Inc. has acquired Murfreesboro-based insurance company Beach & Gentry Insurance LLC.

Hallmark Financial Services Leads Tuesday's AMBG as Global Insurance Index Declines 0.88%

The AMBG closed Tuesday, July 1, at 1035.38 (-0.88%). Of the 15 A.M. Best stock indexes, six rose and nine declined.

ADP Says U.S. Companies Decreased Payrolls by 79,000 (Update3)

Companies in the U.S. cut an estimated 79,000 jobs in June, a private survey based on payroll data showed.

Financial Services Best Practice Selling More Achievable

Infinity CCS, specialist provider of management software for contact centres, today announces the launch of Infinity QA

Bonds gain on job losses, weak stocks

Bond market anticipates weak non-farm payrolls data * ADP data show U.S. private payrolls shed 79,000 jobs

Black Enterprise names Atlanta Life Financial Group Financial Services company of the Year

Black Enterprise (BE) has named Atlanta Life Financial Group its 2008 BE100s Financial Services Company of the Year.

FOX21 Morning News: Stanley Financial Services

FOX21 Morning News anchor Mike Brookbank talks with Bill Stanley of Stanley Financial Services in the Tuesday, July 1

Discover Financial completes Diners Club purchase from Citi

Tuesday, Discover Financial Services (DFS: News, Chart, Quote ), a credit card issuer and electronic payment services company,

Discover completes Diners Club acquisition

Credit card company Discover Financial Services said Tuesday it has completed its $165 million acquisition of Diners Club

Hartford Financial Services Group Finished Monday at New Low for Year

Hartford Financial Services Group (HIG | Quote | Chart | News | PowerRating) was range-bound until around noon Monday

Discover® Card Rewards U.S. Troops and Their Families This Independence Day Through Labor Day

Discover Financial Services (NYSE: DFS) announced today that they will be giving Double Cashback Bonus® or Double Miles to all Discover Cardmembers

Hallmark Financial Services, Inc. Delivers Second Proposal Letter to Board of Directors of Specialty

Hallmark Financial Services, Inc. ("Hallmark") (Nasdaq:HALL) today reaffirmed its proposal to acquire all of the outstanding stock

Representatives From The Financial Services Roundtable (FSR) to Ring the NASDAQ Stock Market Opening

What: Steve Bartlett, President of The Financial Services Roundtable and the co-chairmen of Community Service