Search

The article discusses the role of chief executive officers (CEOs) at U.S. banks and financial institutions as of April 2013. Topics include proxy solicitation at annual spring shareholder meetings, shifts of power in corporate governance after the global financial crisis of 2008, and shareholder activism.

The article discusses reorganization efforts at the Swiss bank UBS AG as of October 2012, regarding the elimination of businesses and jobs at its investment-banking division. Topics include a meeting of UBS's board of directors to determine job cuts and leadership shakeups; the elimination of trading businesses under the leadership of Carsten Kengeter; and reorganization plans by UBS chief executive officer (CEO) Sergio Ermotti.

The article focuses on Allstate Corp.'s decision to cut insurance coverage to coastal property insurance customers in the United States. The company wishes to decrease the risk of financial losses resulting from national disasters such as hurricanes. According to the article, Allstate wishes to sell more life insurance and annuity policies to retiring Baby Boomers. The author discusses analyst opinions of so-called "one stop" financial institutions.

The article reports on the plan of financial services company Société Générale to cut costs and simplify operations after it posted a larger-than-expected fourth quarter loss on Wednesday, February 13, 2013.

The article reports that Brazilian objections have put Venezuelan President Hugo Chávez Frias' Bank of the South project in jeopardy. Venezuelan president was pushing the project as a regional financing alternative to the World Bank and Inter-American Development Bank. Brazil has expressed its disagreement over the clout of the proposed bank. The two countries have different views about the base of operations of the bank, its size and startup capital.

Announces the approval of the sale of Acorn mutual fund, a money-management firm owned by Ralph Wanger, by Wanger Asset Management to Liberty Financial Cos. of Boston, Massachusetts. Money-management operations of Wanger; Terms of the deal.

Reports on the mounting pressure that Aetna Inc. Chairman Richard Huber is under from shareholders who are fed up with the health insurer's low stock price and his own brash management style. Aetna's sour relationship with doctors and the number of lawsuits that it is contending with; Huber's combative public persona; The suggestion that Aetna split off the financial services or international divisions of the company through sales or tracking stock.

Reports the stockpiling of cash by United States financial institutions in preparation for an anticipated increased demand for cash in light of the Year 2000 date conversion. Why there was no increased demand for cash; Details of the preparations made by the United States Federal Reserve; Role of public perception in the lack of increased demand for cash.

Provides information on the travel-reward programs that financial-services companies offer for big spenders. Loyalty program of Salomon Smith Barney company; Reward program of Merrill Lynch; Comments from Randy Petersen, editor of Inside `Flyer' magazine.

Analyzes the impact of the practice of using high-visibility names by financial institutions on the investors. Comments of Stanford Z. Rothschild; Use of the well known European banking family by American firms since 1981; Details of companies using familiar names.