State Street takes big charge, replaces a top exec
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State Street Corp  said on Thursday it will take a $279 million fourth-quarter charge after making bad bets on subprime mortgages and other debt, and said it replaced its investment management chief.
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The company's original visionary returns to the helm.
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The new CEO may want to shed non-strategic parts of the business.
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Allstate Corp. , the largest  U.S. publicly traded insurer of homes and autos, on Monday said  President and Chief Operating Officer Thomas Wilson will  succeed Edward Liddy as chief executive officer January 1.
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The giant student lender whose $25 billion buyout has run aground said on Friday that its executive chairman would again take up the role of chief executive.
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Last week started badly enough for Mitsubishi Motors North America, with key dealer-council members threatening to revolt over the decision to put the besieged car maker's &#36;200 million creative account into review. Then it got worse. The review's leader, CEO Finbarr O'Neill, quit to join Reynolds and Reynolds, an auto consultancy. Manufacturing chief and COO Rich Gilligan was immediately installed as his replacement.
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Deutsche Bank shuffled the ranks in its executive suite on Tuesday, putting more power into the hands of two prominent investment bankers based in London, but also naming
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Rental chain replaces chief executive who was a frequent target of criticism from Carl Icahn.
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Sallie Krawcheck became the most powerful woman on Wall Street yesterday when she was named chief financial officer of Citigroup, the biggest bank in the world.
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HARTFORD, Conn. Sept. 23, 2004 - A top aide to former Gov. John G. Rowland was indicted Thursday along with the state&#39;s largest construction contractor on charges they participated in a corrupt criminal organization run out of the governor&#39;s office.
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CEO is set to be replaced by firm's president, Alan Schwartz, according to news reports.
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Jerker Johansson of Morgan Stanley was selected to run the troubled unit, which is being revamped following the bankâs problems with U.S. subprime investments.
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Citigroup Inc. , the largest banking group in the United States, said on Sunday it had named Gary Crittenden, formerly chief financial officer at American Express Co. , as its chief financial officer.
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Citigroup has replaced Catherine Weir, its top official in China, with Richard Stanley, reversing a management reorganization made six months ago.
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The forced departure of Franklin D. Raines as chief executive of Fannie Mae hardly ends the turmoil at the nation's second-largest financial institution. Civil, criminal, and congressional investigations are underway as the mortgage giant begins what could be a long process of cleaning up the books and reestablishing credibility.
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The bond insurer said that a former chief executive, Joseph âJayâ Brown, would replace Gary Dunton as it scrambles to maintain a top credit rating amid mortgage-related losses.
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Citigroup named Sallie Krawcheck, currently head of Smith Barney, as chief financial officer and head of strategy - cementing her position as the most powerful woman on Wall Street.