Charles Schwab, TD Ameritrade and Merrill Lynch brokerage clients reported service outages on Monday as news of coronavirus vaccine developments sent stocks soaring to all-time highs.
U.S. lawmakers proposed a measure that could swell the coffers of fund managers like Fidelity, Charles Schwab and Vanguard by automatically enrolling eligible employees in 401(k) plans.
MarketAxess, a fintech backed by BlackRock and Vanguard, selected Goldman Sachs to support its new live order book for institutional fixed-income markets, as banks rely more on direct pricing streams to automate bond order management.
Vanguard Group has returned $21 billion in managed assets to state funds in China, Bloomberg reported Friday, as the asset management firm continues to pare back its international business to focus on catering to individual investors.
Vanguard Group will no longer provide customized products known as segregated mandated accounts as investment vehicles to institutional clients in Australia and New Zealand, the U.S. company’s latest paring back of its international lines as it sharpens its focus on retail investors.
Asset manager Vanguard on Friday began turning away new investors for two money-market funds totaling $3 billion in assets that invested in Pennsylvania and New Jersey municipal securities, citing insufficient supply.
Vanguard launched its first environmental, social and governance corporate bond exchange-traded fund Thursday, complementing the U.S. investment advisor’s current offerings of stock-based sustainability-focused ETFs.
Activist investors in the U.S. will now be required to hold more in company stock for longer periods of time before launching campaigns to try to shift corporate governance strategies.
Canada’s BMO Global Asset Management is reportedly the latest global firm to pull out of the Hong Kong exchange-traded funds market with plans to sell its seven locally listed funds to China Asset Management (Hong Kong), just weeks after Vanguard revealed it was leaving the market.
Although U.S. stocks have been soaring, investors have pulled money out of equity funds in droves and set a monthly record of nearly $52 billion in August while shifting to taxable-bond funds, Morningstar said in a new report released on Wednesday.
Vanguard Asset Management’s Canadian arm has rolled out a new exchange-traded fund designed to pay steady monthly income to retirees, a product the company said could help investors manage risk and avoid outliving their savings.
Vanguard Group revealed on Tuesday that it voted against compensation of top executives at Uber and Alphabet this year, arguing their pay did not adequately reflect the tech companies’ performances.
Major finance executives who were tapped by U.S. federal regulators to assess climate risks to the financial markets recommended that financial institutions should be required to disclose and pay for producing carbon emissions in a landmark report made public Wednesday.
Vanguard launched a new exchange-traded fund on the London Stock Exchange, providing European investors with a safe haven for capital should pandemic-related volatility continue to create market tremors.
Investment manager Wellington Management said on Tuesday that it selected Jean Hynes, a managing director who has worked for the firm for nearly three decades, as its new CEO.
JPMorgan Chase has hired away the head of Vanguard’s wealth management advisory unit to boost its own digital client services, highlighting growing demand from wealthy clients for connecting with brokers remotely.
Mysterious technical issues flared up for several banks and fund managers Monday, with Robinhood and TD Ameritrade Holding users seeing wildly inaccurate balances and Vanguard Asset Management, Charles Schwab and E*TRADE Financial having other problems.
U.S. investment firm Vanguard recently laid off several of its Canadian staff, The Globe and Mail reported, as the company also moves to shut down its offices in Japan and Hong Kong.
Vanguard will convert a $125.3 billion fund that invests in a variety of money market instruments into a fund holding almost exclusively U.S. government securities, citing risk in the prime market.
Vanguard will be pulling out of Hong Kong and Japan, leading to an undisclosed number of job cuts in both regions, a company spokesperson said on Wednesday.