Manulife Financial Co. (MFC) Given "Outperform" Rating at BMO Capital Markets

BMO Capital Markets restated their outperform rating on shares of Manulife Financial Co. (NYSE:MFC) in a research report sent to investors on Sunday morning, MarketBeat reports. They currently have a $22.00 price objective on the stock.

A number of institutional investors recently modified their holdings of MFC. Beutel Goodman Co Ltd. increased its position in shares of Manulife Financial by 0.3% in the fourth quarter. Beutel Goodman Co Ltd. now owns 23,522,172 shares of the company’s stock worth $352,492,000 after buying an additional 62,355 shares in the last quarter. CIBC World Markets increased its position in shares of Manulife Financial by 1.1% in the fourth quarter. CIBC World Markets now owns 36,719,341 shares of the company’s stock worth $550,056,000 after buying an additional 409,287 shares in the last quarter. Barry Investment Advisors LLC bought a new position in shares of Manulife Financial during the fourth quarter worth approximately $1,291,000. Endurance Wealth Management Inc. increased its position in shares of Manulife Financial by 5.4% in the fourth quarter. Endurance Wealth Management Inc. now owns 49,000 shares of the company’s stock worth $734,000 after buying an additional 2,500 shares in the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co increased its position in shares of Manulife Financial by 4.6% in the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 281,805 shares of the company’s stock worth $4,223,000 after buying an additional 12,500 shares in the last quarter.

Shares of Manulife Financial (NYSE:MFC) traded up 3.34% on Friday, reaching $11.76. 2,510,342 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $13.37 and a 200-day moving average price of $15.55. Manulife Financial has a 12-month low of $10.99 and a 12-month high of $19.61. The company has a market cap of $23.20 billion and a PE ratio of 15.60.

Manulife Financial (NYSE:MFC) last announced its earnings results on Thursday, February 11th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by $0.03. During the same quarter in the previous year, the firm posted $0.36 EPS. Equities research analysts anticipate that Manulife Financial will post $1.97 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, March 21st. Shareholders of record on Wednesday, February 24th will be paid a $0.1328 dividend. The ex-dividend date is Monday, February 22nd. This represents a $0.53 dividend on an annualized basis and a yield of 4.52%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.13.

A number of other analysts have also weighed in on MFC. Canaccord Genuity reissued a buy rating on shares of Manulife Financial in a research report on Thursday, November 12th. Zacks Investment Research lowered shares of Manulife Financial from a hold rating to a sell rating in a research report on Tuesday, December 15th. TD Securities lowered shares of Manulife Financial from a buy rating to a hold rating in a research report on Thursday. TheStreet lowered shares of Manulife Financial from a buy rating to a hold rating in a research report on Monday, January 25th. Finally, RBC Capital increased their price objective on shares of Manulife Financial from $26.00 to $28.00 and gave the stock an outperform rating in a research report on Friday, November 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $22.86.

Manulife Financial Corp is a Canada-based financial services and life insurance company. The Company offers financial protection and wealth management products and services. It caters to personal and business clients. It also provides asset management services to institutional customers. Its operating segments are Asia, Canadian and U.S.

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Sunday, February 14th, 2016 EN No Comments

Eagle Capital Management Increases Position in Accenture Plc (ACN)

Eagle Capital Management raised its position in shares of Accenture Plc (NYSE:ACN) by 1.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 34,603 shares of the company’s stock after buying an additional 393 shares during the period. Accenture Plc makes up about 3.5% of Eagle Capital Management’s holdings, making the stock its 16th largest position. Eagle Capital Management’s holdings in Accenture Plc were worth $3,616,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ACN. EisnerAmper Wealth Management boosted its stake in shares of Accenture Plc by 11.3% in the fourth quarter. EisnerAmper Wealth Management now owns 6,913 shares of the company’s stock worth $722,000 after buying an additional 702 shares during the last quarter. Janus Capital Management boosted its stake in shares of Accenture Plc by 383.0% in the third quarter. Janus Capital Management now owns 953,399 shares of the company’s stock worth $93,681,000 after buying an additional 756,014 shares during the last quarter. Stock Yards Bank Trust Company boosted its stake in shares of Accenture Plc by 1,208.2% in the fourth quarter. Stock Yards Bank Trust Company now owns 49,451 shares of the company’s stock worth $5,168,000 after buying an additional 45,671 shares during the last quarter. Fulton Bank boosted its stake in shares of Accenture Plc by 16.9% in the fourth quarter. Fulton Bank now owns 11,390 shares of the company’s stock worth $1,190,000 after buying an additional 1,649 shares during the last quarter. Finally, Curbstone Financial Management boosted its stake in shares of Accenture Plc by 87.1% in the fourth quarter. Curbstone Financial Management now owns 6,500 shares of the company’s stock worth $679,000 after buying an additional 3,025 shares during the last quarter.

Shares of Accenture Plc (NYSE:ACN) opened at 94.70 on Friday. The stock has a market cap of $59.46 billion and a price-to-earnings ratio of 19.95. The stock’s 50 day moving average is $100.75 and its 200-day moving average is $102.24. Accenture Plc has a 1-year low of $86.40 and a 1-year high of $109.86.

Accenture Plc (NYSE:ACN) last posted its quarterly earnings data on Thursday, December 17th. The company reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by $0.04. The business had revenue of $8 billion for the quarter, compared to the consensus estimate of $7.93 billion. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.29 earnings per share. On average, analysts anticipate that Accenture Plc will post $5.22 EPS for the current year.

ACN has been the topic of a number of research reports. Bank of America reissued a “neutral” rating and issued a $112.00 price objective (up from $105.00) on shares of Accenture Plc in a research note on Tuesday, November 3rd. Societe Generale raised their price target on shares of Accenture Plc from $102.00 to $108.00 and gave the stock a “hold” rating in a research note on Wednesday, December 2nd. Zacks Investment Research raised shares of Accenture Plc from a “sell” rating to a “hold” rating in a research note on Thursday, December 3rd. Deutsche Bank reaffirmed a “buy” rating and set a $117.00 price target on shares of Accenture Plc in a research note on Tuesday, December 8th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $105.00 price target (up from $103.00) on shares of Accenture Plc in a research note on Friday, December 11th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Accenture Plc presently has a consensus rating of “Hold” and a consensus target price of $111.33.

In other Accenture Plc news, insider Daniel T. London sold 891 shares of the company’s stock in a transaction dated Tuesday, December 29th. The shares were sold at an average price of $104.99, for a total transaction of $93,546.09. Following the completion of the sale, the insider now directly owns 24,350 shares of the company’s stock, valued at $2,556,506.50. The transaction was disclosed in a legal filing with the Securities Exchange Commission, which is available through this link. Also, CEO Pierre Nanterme sold 49,434 shares of the company’s stock in a transaction dated Wednesday, December 23rd. The shares were sold at an average price of $104.16, for a total transaction of $5,149,045.44. Following the sale, the chief executive officer now directly owns 290,938 shares of the company’s stock, valued at $30,304,102.08. The disclosure for this sale can be found here.

Accenture plc is engaged in providing management consulting, technology and outsourcing services. The Company’s business is structured around five operating groups, which together consists of 19 industry groups serving clients in industries globally. The Company’s segment includes Communications, Media Technology, Financial Services, Health Public Service, Products and Resources.

This story was originally published by Financial Market News (http://www.financial-market-news.com) and is the sole property of Financial Market News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://www.financial-market-news.com/eagle-capital-management-increases-position-in-accenture-plc-acn/833008/

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Sunday, February 14th, 2016 EN No Comments

Check Capital Management Acquires 869 Shares of Microsoft Co. (MSFT)

Check Capital Management raised its position in Microsoft Co. (NASDAQ:MSFT) by 1.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 88,181 shares of the software giant’s stock after buying an additional 869 shares during the period. Microsoft makes up approximately 0.5% of Check Capital Management’s portfolio, making the stock its 21st largest position. Check Capital Management’s holdings in Microsoft were worth $4,892,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Creative Planning increased its stake in shares of Microsoft by 66.7% in the fourth quarter. Creative Planning now owns 2,500 shares of the software giant’s stock valued at $0 after buying an additional 1,000 shares during the period. Taylor Wealth Management Partners boosted its position in Microsoft by 76.2% in the fourth quarter. Taylor Wealth Management Partners now owns 650 shares of the software giant’s stock valued at $36,000 after buying an additional 281 shares in the last quarter. Baystate Wealth Management bought a new position in Microsoft during the fourth quarter valued at about $256,000. Exchange Capital Management boosted its position in Microsoft by 6.1% in the fourth quarter. Exchange Capital Management now owns 4,783 shares of the software giant’s stock valued at $265,000 after buying an additional 275 shares in the last quarter. Finally, Kistler-Tiffany Companies boosted its position in Microsoft by 1.6% in the fourth quarter. Kistler-Tiffany Companies now owns 7,309 shares of the software giant’s stock valued at $405,000 after buying an additional 112 shares in the last quarter.

Shares of Microsoft Co. (NASDAQ:MSFT) opened at 50.50 on Friday. The stock’s 50 day moving average price is $52.44 and its 200-day moving average price is $49.85. The stock has a market cap of $399.42 billion and a price-to-earnings ratio of 35.74. Microsoft Co. has a 52 week low of $39.72 and a 52 week high of $56.85.

Microsoft (NASDAQ:MSFT) last announced its quarterly earnings results on Thursday, January 28th. The software giant reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.07. The company had revenue of $25.70 billion for the quarter, compared to analyst estimates of $25.24 billion. During the same quarter in the prior year, the business earned $0.71 earnings per share. Microsoft’s revenue was down 1.7% on a year-over-year basis. Equities analysts anticipate that Microsoft Co. will post $2.76 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 10th. Investors of record on Thursday, February 18th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, February 16th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.85%.

Several research firms have issued reports on MSFT. Nomura set a $65.00 target price on shares of Microsoft and gave the company a “buy” rating in a research note on Tuesday, February 9th. Citigroup Inc. restated a “sell” rating and set a $39.00 target price (down previously from $40.00) on shares of Microsoft in a research note on Friday, February 5th. Vetr upgraded shares of Microsoft from a “buy” rating to a “strong-buy” rating and set a $59.22 target price on the stock in a research note on Wednesday, February 3rd. FBR Co. restated a “buy” rating on shares of Microsoft in a research note on Sunday, January 31st. Finally, Piper Jaffray restated a “buy” rating on shares of Microsoft in a research note on Sunday, January 31st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $57.19.

In other Microsoft news, CMO Christopher C. Capossela sold 10,000 shares of the business’s stock in a transaction dated Friday, February 12th. The shares were sold at an average price of $50.24, for a total transaction of $502,400.00. Following the sale, the chief marketing officer now directly owns 285,809 shares in the company, valued at $14,359,044.16. The sale was disclosed in a legal filing with the Securities Exchange Commission, which can be accessed through the SEC website. Also, CAO Frank H. Brod sold 4,000 shares of the business’s stock in a transaction dated Monday, February 1st. The stock was sold at an average price of $54.85, for a total transaction of $219,400.00. Following the sale, the chief accounting officer now owns 113,889 shares in the company, valued at $6,246,811.65. The disclosure for this sale can be found here.

Microsoft Corporation is engaged in developing, licensing and supporting a range of software products and services. The Company also designs and sells hardware, and delivers online advertising to the customers. The Company operates in five segments: Devices and Consumer (NASDAQ:MSFT) Licensing, DC Hardware, DC Other, Commercial Licensing, and Commercial Other.

This story was originally published by Financial Market News (http://www.financial-market-news.com) and is the sole property of Financial Market News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://www.financial-market-news.com/check-capital-management-acquires-869-shares-of-microsoft-co-msft/832962/

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Sunday, February 14th, 2016 EN No Comments

Doug Siegel Appointed Managing Director, Chief Compliance Officer Of The Oppenheimer Companies

Visit PR Newswire for Journalists, our free resources for releases, photos and customized feeds. You can also send a free ProfNet request for experts.

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Friday, February 12th, 2016 EN No Comments

Lakeside Wealth Management Supports 2016 Porter County Community Foundation Campaign

The Porter County Community Foundation was presented with a $50,000 check from Lakeside Wealth Management in support of the Foundation’s Tomorrow Starts Today campaign.

“The Porter County Community Foundation is a staple inside our community. The tireless work the Foundation puts into bringing our non-profit community together aligns directly with Lakeside’s core values,” said Tim Rice, Lakeside President. “We thank the Foundation for their services and hope to partner with them for years to come.”

The ambitious $6.5 million Tomorrow Starts Today campaign is raising funds to renovate a former medical center, located at 1401 Calumet, into the Center for Community Philanthropy, which includes a nonprofit conference center and permanent home for the Foundation.

“Lakeside has been a great supporter of ours over the years,” said Barb Young, Foundation President. “We are so appreciative of their investment in us and their involvement in the community. Lakeside’s gift to the campaign is another extension of their corporate commitment to Porter County’s nonprofit sector.” Over half of the Foundation’s new 12,000-square-foot Center will provide space for local nonprofit organizations to meet and attend education and training opportunities.

The Foundation’s campaign efforts will also create an endowment match for local nonprofits and grow the Foundation’s endowed funds to expand its annual grantmaking. To date, $5.7 million toward the $6.5 million goal has been raised.

The Porter County Community Foundation awards nearly $2 million in scholarships and grants to nonprofit organizations annually. The Foundation inspires giving and engages the community to improve lives in Porter County now and forever. For campaign updates or to make a gift online, visit portercountyfoundation.org.

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Friday, February 12th, 2016 EN No Comments

Highstreet Asset Management Inc. Cuts Stake in Manulife Financial Co. (MFC)

Highstreet Asset Management Inc. lowered its position in Manulife Financial Co. (NYSE:MFC) by 10.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 341,032 shares of the company’s stock after selling 40,314 shares during the period. Highstreet Asset Management Inc.’s holdings in Manulife Financial were worth $5,114,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. CIBC World Markets raised its stake in Manulife Financial by 1.1% in the fourth quarter. CIBC World Markets now owns 36,719,341 shares of the company’s stock worth $550,056,000 after buying an additional 409,287 shares during the period. Endurance Wealth Management Inc. raised its stake in Manulife Financial by 5.4% in the fourth quarter. Endurance Wealth Management Inc. now owns 49,000 shares of the company’s stock worth $734,000 after buying an additional 2,500 shares during the period. Barry Investment Advisors LLC acquired a new stake in Manulife Financial during the fourth quarter worth about $1,291,000. DORCHESTER WEALTH MANAGEMENT Co raised its stake in Manulife Financial by 4.6% in the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 281,805 shares of the company’s stock worth $4,223,000 after buying an additional 12,500 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Manulife Financial by 43.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,508,422 shares of the company’s stock worth $37,452,000 after buying an additional 754,448 shares during the period.

Manulife Financial Co. (NYSE:MFC) opened at 11.38 on Friday. The stock has a market capitalization of $22.43 billion and a P/E ratio of 12.42. The company has a 50 day moving average of $13.48 and a 200-day moving average of $15.58. Manulife Financial Co. has a 52-week low of $10.99 and a 52-week high of $19.61.

Manulife Financial (NYSE:MFC) last released its earnings results on Thursday, February 11th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by $0.03. During the same quarter in the previous year, the firm posted $0.36 EPS. Equities research analysts anticipate that Manulife Financial Co. will post $2.04 EPS for the current year.

MFC has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Thursday, October 15th. Canaccord Genuity reissued a “buy” rating on shares of Manulife Financial in a research report on Wednesday, February 3rd. RBC Capital increased their price objective on shares of Manulife Financial from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, November 13th. TheStreet downgraded shares of Manulife Financial from a “buy” rating to a “hold” rating in a research report on Monday, January 25th. Finally, TD Securities downgraded shares of Manulife Financial from a “buy” rating to a “hold” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $25.00.

Manulife Financial Corp is a Canada-based financial services and life insurance company. The Company offers financial protection and wealth management products and services. It caters to personal and business clients. It also provides asset management services to institutional customers. Its operating segments are Asia, Canadian and U.S.

This story was originally published by Financial Market News (http://www.financial-market-news.com) and is the sole property of Financial Market News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://www.financial-market-news.com/highstreet-asset-management-inc-cuts-stake-in-manulife-financial-co-mfc/828195/

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Friday, February 12th, 2016 EN No Comments

Alphabet Inc (GOOGL) Position Lowered by Cardinal Capital Management

Cardinal Capital Management decreased its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,717 shares of the company’s stock after selling 24 shares during the period. Cardinal Capital Management’s holdings in Alphabet were worth $2,892,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of GOOGL. Taylor Wealth Management Partners boosted its position in shares of Alphabet by 5.0% in the fourth quarter. Taylor Wealth Management Partners now owns 84 shares of the company’s stock valued at $65,000 after buying an additional 4 shares during the period. Lenox Wealth Advisors boosted its position in shares of Alphabet by 6.8% in the fourth quarter. Lenox Wealth Advisors now owns 312 shares of the company’s stock valued at $243,000 after buying an additional 20 shares during the period. Hartford Financial Management Inc. boosted its position in shares of Alphabet by 4.7% in the fourth quarter. Hartford Financial Management Inc. now owns 333 shares of the company’s stock valued at $259,000 after buying an additional 15 shares during the period. Baystate Wealth Management boosted its position in shares of Alphabet by 3.1% in the fourth quarter. Baystate Wealth Management now owns 335 shares of the company’s stock valued at $261,000 after buying an additional 10 shares during the period. Finally, First Hawaiian Bank acquired a new position in shares of Alphabet during the fourth quarter valued at $261,000.

Shares of Alphabet Inc (NASDAQ:GOOGL) traded down 1.55% during midday trading on Thursday, reaching $695.86. The company had a trading volume of 784,551 shares. The company’s 50 day moving average price is $743.10 and its 200 day moving average price is $711.15. The stock has a market capitalization of $478.30 billion and a PE ratio of 29.26. Alphabet Inc has a 52-week low of $529.00 and a 52-week high of $810.35.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Monday, February 1st. The company reported $8.67 EPS for the quarter, beating analysts’ consensus estimates of $8.10 by $0.57. During the same period in the previous year, the firm earned $6.76 EPS. Equities research analysts expect that Alphabet Inc will post $34.51 earnings per share for the current year.

GOOGL has been the topic of a number of recent analyst reports. Axiom Securities raised their target price on shares of Alphabet from $1,000.00 to $1,001.00 and gave the stock a “buy” rating in a research note on Tuesday, February 2nd. B. Riley restated a “buy” rating and set a $930.00 target price (up previously from $853.00) on shares of Alphabet in a research note on Tuesday, February 2nd. Wedbush restated a “hold” rating on shares of Alphabet in a research note on Sunday, January 31st. Deutsche Bank restated a “buy” rating and set a $1,080.00 target price (up previously from $900.00) on shares of Alphabet in a research note on Tuesday, February 2nd. Finally, Canaccord Genuity raised their target price on shares of Alphabet from $850.00 to $900.00 and gave the stock a “buy” rating in a research note on Tuesday, February 2nd. Three equities research analysts have rated the stock with a hold rating, forty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $887.43.

Alphabet Inc (NASDAQ:GOOGL) is a collection of Companies. The Company’s collection include Calico, Google’s health and longevity effort; Nest its connected home business; Fiber, its gigabit internet arm; and its investment divisions such as Google Ventures and Google Capital, and incubator projects, such as Google X.

This story was originally published by Intercooler Financial (http://www.intercooleronline.com) and is the sole property of Intercooler Financial. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://www.intercooleronline.com/stocks/alphabet-inc-googl-position-lowered-by-cardinal-capital-management/405453/

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Thursday, February 11th, 2016 EN No Comments

MOVES- Royal London Asset Management, Morgan Stanley, RBS


(Adds Morgan Stanley)

Feb 11 The following financial services industry
appointments were announced on Thursday. To inform us of other
job changes, email moves@thomsonreuters.com.

MORGAN STANLEY

The investment bank reshuffled its wealth management
division following the earlier appointment of Andy Saperstein
and Shelley O’Connor as co-heads, according to a memo reviewed
by Reuters and confirmed by a Morgan Stanley spokeswoman.

ROYAL LONDON ASSET MANAGEMENT

The fund manager appointed Phil Reid as head of wholesale
asset management to build the team to support its products and
services.

BLUEBAY ASSET MANAGEMENT LLP

The fixed income asset management firm appointed Jean-Yves
Guibert and Marc Kemp to its global leveraged finance team.

ROYAL BANK OF SCOTLAND

The bank named Peter Flavel as chief executive of private
banking, responsible for Coutts Co and Adam Co.

NEW MOUNTAIN CAPITAL LLC

Alternative investments firm appointed Teddy Kaplan managing
director to lead its net lease real estate business.

(Compiled by Yashaswini Swamynathan in Bengaluru)

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Thursday, February 11th, 2016 EN No Comments

Morgan Stanley Rolls Out More Exec Changes

Morgan Stanley building in New York. (Photo: AP)Morgan Stanley building in New York. (Photo: AP)


A month ago, Colm Kelleher became president of Morgan Stanley (MS), while the firm named Shelley O’Connor and Andy Saperstein as co-heads of wealth management.

On Thursday, O’Connor and Saperstein announced new appointments and related organizational changes.

“Along with the incredible ability of our advisors and high level of talent across our business, having the right organization in place, with the right senior leaders, is critical to achieving that goal,” they said in a memo to the wealth group’s nearly 16,000 advisors. “With this in mind, we are pleased to announce the following organizational structure.”

In the wealth group’s field organization, Bill McMahon and Rick Skae remain in their roles as divisional directors; Vince Lumia continues as head of Private Wealth Management while taking on responsibility for the strategic lead management group.

Ben Hunekehas been tapped to be head of Investment Solutions, with responsibility for traditional investment products, alternatives and the relationship management group. Liz Dennis continues as head of capital markets, and Mike Wilson remains head of wealth management investment resources.

Chris Randazzo, chief information officer for Wealth Management, is becoming head of Institutional Wealth Solutions, which includes institutional platforms, corporate equity solutions, corporate cash, Graystone and the 401(k) businesses.

Lisa Golia is taking on the role of chief administrative officer for Wealth Management. She succeeds Adam Kudelka, who is taking on a new role in Investment Solutions.

Jim McCarthy becomes national sales manager, Barry Goldstein stays on as chief operating officer for the field, and Jim Tracy is taking on responsibility for the Consulting Group.

Eric Heaton continues as head of the Private Banking Group. Jed Finn continues as COO of Wealth Management.

“We look forward to working with this team and all of you to drive our business priorities, foster growth and deliver exceptional service to clients,” O’Connor and Saperstein said.

Recently, Morgan Stanley announced that it tapped former Schwab executive Naureen Hassan to head the newly created position of chief digital officer for Wealth Management.

In her new post at Morgan Stanley, Hassan leads the strategy and marketing of digital tools and platforms serving the brokerage firm registered reps and 3.5 million clients.

She most recently served as Charles Schwab’s executive vice president of Investment Services Segments and Platforms, where she led Schwab Intelligent Portfolios and oversaw client experience and Web and mobile channels.

In the fourth quarter, the wealth group had revenues of $3.75 billion, down from $3.80 billion in the year-ago period. Pre-tax net income, though, rose to $768 million in the most-recent quarter vs. $736 million in Q4’14; the pretax margin for Q4’15 was $20%.

Client assets were nearly $2 trillion, while fee based assets stood at $795 billion on Dec. 31 — an increase of 3% from Q3 ’15 and 1% from Q4 ’14.

Financial-advisor productivity, which measures advisors’ total yearly fees and commissions, was about $947,000 for 2015; it stood at $944,000 in 2014. Average client assets per rep was $125 million in 2015.

— Check out Morgan Stanley Settles Mortgage Case for $3.2 Billion on ThinkAdvisor.

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Thursday, February 11th, 2016 EN No Comments

Video: Point View’s David Dietze on How to Manage the Tech Sell-Off

February 8, 2016

 

On Wednesday, Feb. 24, at 7 p.m., the Westfield Memorial Library will present “An Armchair Art Tour: Eternal Spring” and on Saturday, Feb. 27, at 1:30 p.m.,

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Wednesday, February 10th, 2016 EN No Comments