BNY Mellon announced that Robert P. Kelly has stepped down as chairman, chief executive officer and director by mutual agreement with the board due to differences in approach to managing the company. Kelly will be replaced by current BNY Mellon president, Gerald L. Hassell. read more

SEP 1, 2011 - 9:10 am

Specialty finance company Capital Financial Global said it has acquired a 100% interest in a gold mine in Nevada. The company notes that the move is consistent with its strategy of backing its lending operation with gold and precious metals. read more

AUG 31, 2011 - 8:42 am

Tennenbaum Capital Partners said it closed a fund with capital commitments of $530 million. The fund will focus on discounted and debt-for-control market opportunities as well as complex, directly originated financings. read more

AUG 30, 2011 - 8:50 am

U.S. ocean fleet operator Horizon Lines said it has entered into an agreement with bondholders to swap convertible notes for new debt and equity in a refinancing. Horizon said in conjunction with the agreement it entered into a new $100 million ABL arranged through Wells Fargo Capital Finance. read more

AUG 29, 2011 - 9:57 am

IBM said it has entered into several major deals in the financial services industry as part of a move by banks in Central and Eastern Europe to improve operational efficiency and benefit from advances in mobile and internet technologies. read more

AUG 29, 2011 - 9:54 am

Bank of America said it reached an agreement to sell 50,000 shares of Cumulative Perpetual Preferred Stock with a liquidation value of $100,000 per share to Berkshire Hathaway in a private offering. read more

AUG 25, 2011 - 12:27 pm

In its latest quarterly report, the FDIC said insured bank profits were up $7.9 billion as loss provisions were less than half the $40.4 billion reported in Q2 2010. The number of banks on the "problem list" declined for first time since 2006. read more

AUG 24, 2011 - 9:34 am

According to a Bloomberg report, the Federal Reserve provided as much as $1.2 trillion in public money to banks and other companies from August 2007 through April 2010 to head off a depression. read more

AUG 22, 2011 - 9:45 am

CFO.com staff writer Vincent Ryan notes bank CFOs didn't groan publicly when the Federal Reserve's Open Market Committee voted to leave the Fed funds rate at essentially zero until mid-2013. But it couldn't have been good news... read more

AUG 22, 2011 - 9:04 am

Bloomberg reported today (8-19-11) that Hewlett-Packard fell the most in at least 31 years after issuing forecasts that missed analysts' estimates and unveiling strategic shifts that undermined confidence in its management. read more

AUG 19, 2011 - 4:20 pm

Standard & Poor's said a decline in loan loss provisions coupled with higher outstanding loan balances helped spur a 19% sequential rise in regional bank net income in the second quarter. The agency said the pace of improvement could change given the recent slowdown in certain economic conditions. read more

AUG 19, 2011 - 9:04 am

Bloomberg reports Bank of America may face billions of dollars more in liability for faulty mortgages if a judge agrees with insurer MBIA that the lender must buy back loans even if the errors didn't cause a borrower's default. read more

AUG 19, 2011 - 9:00 am

Bank of America announced it has agreed to sell its Canadian credit card business, which includes a $8.6 billion portfolio, to TD Bank Group. The bank also said it will exit its credit card businesses in the UK and Ireland. read more

AUG 15, 2011 - 9:36 am

Capital One announced an agreement under which Capital One will acquire HSBC's domestic credit card business, including its $30 billion credit card portfolio, for a $2.6 billion premium over the value of the loans. read more

AUG 10, 2011 - 9:04 am

The Wall Street Journal notes in a story today (8/9/11) that those who think of 2011 as "2008-The Sequel," now have their very own "Lehman moment." However, there are several fundamental differences between the crisis of three years ago and today's events. read more

AUG 9, 2011 - 9:26 am