MFMarketNews Weekly Web Flash
October 22, 2001
MFMarketnews.com is keeping abreast of the industry's latest developments with postings twice a day. If you didn't log on last week here are some Web exclusives you missed:
* Pacific LifeCorp, parent company of Pacific Life Insurance Co., will buy College Savings Bank of Princeton, N.J. The purchase will enable Pacific Life to offer section 529 college savings plans.
* Charles Schwab Corp. said that its operating income for this year's third quarter fell more than 50% from the same period last year. The firm says markets' turbulence since last months' terrorist attacks played a significant role in the declines.
* Fidelity Investments said this month that the Web and access to a smattering of brokerage houses prompted the firm to nix plans for a call center near Tokyo, according to published reports. Fidelity will instead employ the Web and more than 100 banks and brokerage houses to handle the needs of individual investors.