Silla Brush

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Fidelity Shuffles Senior Management, Reports 12% Revenue Boost

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Fidelity had $28.2 billion in revenue in 2023, up 12% from $25.2 billion the prior year.

BlackRock Buys Infrastructure Firm For $12.5B In Major Alternatives Push

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The acquisition of GIP, which manages $100 billion, is the biggest deal in more than a decade for BlackRock.

BlackRock Cuts 3% Of Global Workforce, Citing Dramatic Industry Shifts

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Citing a changed business environment, the firm is letting go of 600 employees and shifting resources.

Bond Managers Seek To Win Back Clients Sitting On $6 Trillion In Funds

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Record sums are sitting in money-market funds held by investors who sought refuge from falling bond prices.

T. Rowe Warns Clients Will Withdraw More Than $26 Billion In Quarter

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The firm, with $1.3 trillion in assets at the end of October, attributed much of the outflows to a few large client withdrawals.

Prudential To Cut Senior Leader Positions Amid Cost-Cutting Push

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The life insurer will cut 243 positions, the latest step in its years-long overhaul.

Schwab's Net Interest Revenue Falls 24% From Client Cash Moves

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The Fed's interest rate hikes over the past year and a half have pressured Schwab's banking arm.

BlackRock Clients Pull $13 Billion From Long-Term Funds

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Clients added $15 billion to the firm's separate business of cash-management and money-market funds.

Financial Titans Ready Fight Over 'Too-Big-To-Fail' Threat

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The too-big-to-fail tag spells greater oversight and fresh compliance headaches.

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