Financial Services
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Moynihan would like to be BofA’s chief for rest of his life
Brian T. Moynihan, who endured record losses and public thrashings while cleaning up Bank of America Corp.’s mortgage mess, said he wouldn’t mind being CEO of the lender forever. more
McDonough to succeed Doyle as head of Randolph Savings
James McDonough has been tapped to serve as president and CEO of Randolph Savings Bank, succeeding the retiring Jack Doyle, Chairman of the Board Richard Pierce announced Monday. more
| 3/25/13
Prov. Equity, Madison Dearborn to maintain control of CDW
The private equity firms of Providence Equity Partners and Madison Dearborn Partners LLC will maintain a controlling stake in Chicago-based computer equipment maker CDW Corp. after a $500 million planned stock sale, reported Crain’s Chicago Business. more
| 3/25/13
Despite Sandy FM Global posts 2012 profit, reversing 2011 loss
FM Global, one of the world’s largest business property insurers, ended 2012 with posted revenue of $5.5 billion, an 8.6 percent increase over 2011’s total. more
BofA joins Wells Fargo raising payouts after Fed stress test
Bank of America Corp., Wells Fargo & Co. and American Express Co. boosted payouts to investors after passing U.S. tests of their financial health as banks push to regain luster lost since the 2008 credit crisis. more
Beacon Mutual to host small business expo
An expo on funding, legal issues, copyrights and other topics affecting small business will be held April 23 at the Providence Marriott. The expo, “A Beacon for Small Business,” is sponsored by The Beacon Mutual Insurance Company. more
Capital Properties sees profits slip slightly in 2012
Capital Properties Inc. reported a 0.9 percent drop in profit to $2.01 million, or 31 cents per share, during 2012 compared with earnings of $2.03 million, or 31 cents per share, during 2011. more
| 3/12/13
PBN announces winners of CFO Awards
Providence Business News has selected the winners of its third annual Chief Financial Officer Awards program, honoring nine individuals for their fiscal savvy. more
| 3/8/13
Fed stress tests show 17 of 18 banks weathering severe slump
The Federal Reserve said 17 of the 18 largest U.S. banks could withstand a deep recession and maintain capital above a regulatory minimum, a sign of how higher standards and supervisory prodding are strengthening the financial system. more
MetLife shifts workers to North Carolina
(Updated, 3:30 p.m.) MetLife Inc., the largest U.S. life insurer, is shifting workers to North Carolina as CEO Steven Kandarian seeks to reduce costs. more
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