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Operations & Technology

BoA Brokerage Offers 401(k) Health Monitor

March 10, 2010 - The tool calculates the overall financial wellness of a 401(k).

Money Funds Welcome Fed’s Reverse Repos

March 9, 2010 - The Federal Reserve has expanded its universe of sources of reverse repos beyond primary dealers to include money market funds.

RBC Sees Continued Growth in Electronic Trading

March 5, 2010 - More than half of traders have adjusted approach to high-frequency trading.

BoA Hopes Scoring 401(k) Wellness Can Help it Score Customers

March 4, 2010 - To attract assets and customers, Bank of America Merrill Lynch has introduced the Financial Wellness Monitor to help employers score how well employees are doing at saving for retirement.

Citi Names Sawhney Global Head of Fund Services

March 1, 2010 - The former JP Morgan head of fund services operations has accepted a new position at Citi.

Madoff 401(k) Funds Being Used to Terminate Plan

February 26, 2010 - Former employees of the disgraced firm are burning mad at the benefits consulting firm tapping into their retirement money.

SEC Gets Last-Minute Advice on IFRS Roadmap

February 24, 2010 - The CFA Institute suggests the rules be more focused on investors.

RR Donnelley to Buy Bowne for $481 Million in Cash

February 24, 2010 - The deal will close in the second half of 2010 and be accretive to RR Donnelley’s earnings in 2011.

TD Ameritrade Enhances Mutual Fund ‘Premier List’

February 23, 2010 - Morningstar sorts through the brokerage’s 13,000 fund offerings, now organized by investment objective.

Variable Annuity Sales Fall for Seventh Quarter

February 22, 2010 - In the fourth quarter of 2009, sales dropped 3.6% to $32.6 billion. In the third quarter, VA sales fell 16%.

Invesco Launches Defined Contribution Website

February 16, 2010 - The site is aimed at sponsors, consultants, recordkeepers and advisers.

RidgeWorth Launches Website for Retirement Plan Advisers

February 9, 2010 - The centerpiece of the new website is a benchmarking tool and resources to help sponsors meet their fiduciary duty.

80% of Companies Plan to Reinstate 401(k) Match

February 8, 2010 - Many U.S. employers are losing confidence in their workers’ ability to save for retirement, Hewitt finds.

Defined Benefit Plans Beat 401(k) Returns By More Than 1%

February 3, 2010 - Towers Watson studied returns between 1995 and 2007.

BNY Mellon to Acquire PNC Service Unit for $2.31 Billion

February 2, 2010 - The Global Investment Servicing division provides custody, fund accounting, transfer agency and outsourcing.