Financial Services
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BankRI parent sees profits rise in 4Q, 2012
Brookline Bancorp Inc. – the parent company of Bank Rhode Island – saw its bottom line soar 66.1 percent during the fourth quarter of 2012 and 33.1 percent over the year as a whole, the bank announced Thursday. more
| 1/31/13
Wash Trust: record profit in ’12
Washington Trust Bancorp Inc., parent of The Washington Trust Co., posted record earnings of $35.1 million for 2012, an 18 percent increase in net income compared with $29.7 million in 2011. more
IMF shows U.S. how to restrict foreign capital
The U.S. isn’t expected to return to full employment for at least six more years, and the consensus in Washington seems to be that President Barack Obama’s administration has no options to improve that dreary outlook. more
Guest Column:
Joseph E. Gagnon | 2/11/13
Pa.-based bank buys Flagstar’s New England business
(Updated, 12:20 p.m.) Customers Bank has announced the acquisition of all local New England commercial banking business from Michigan-based Flagstar Bank, according to a Customers Bank press release. more
Who decided U.S. megabanks are too big to jail?
Tom Hanks has a knack for playing the roles that define American generations. In “Saving Private Ryan,” he embodied the courage of the men who landed on the Normandy beaches under heavy fire. In “Apollo 13,” he conveyed calm and ingenuity under intense pressure: “Houston, we have a problem.” And Forrest Gump revealed much about America before, during and after the Vietnam War. more
Guest Column:
Simon Johnson | 2/11/13
BofA said to shift U.S. Trust’s bonuses to push for clients
Bank of America Corp. shifted bonuses at U.S. Trust to focus employees on adding clients and boosting account balances, a change that could mean lower pay for some members of the wealth-management unit. more
Paul Zinno
Paul Zinno has founded JP Diversified Asset Management and he will serve as president and CEO. Zinno has worked for UBS Financial Services, Bank of America Investment Services/Merrill Lynch, and most recently US Trust, Private Portfolio Services. more
2/18/13
Fidelity’s operating income falls 29% as clients pull money
Fidelity Investments, the second- largest U.S. mutual fund company, said operating income declined 29 percent as fee pressure, low interest rates and redemptions from its active equity funds hurt revenue. more
Citizens Bank promotes tax-credit campaign
The Citizens Bank Foundation is supporting the Earned Income Tax Credit Awareness Campaign with a $15,000 grant for media outreach, according to a press release. more
Coalition sponsors financial literacy conference
The Rhode Island chapter of the National Coalition of 100 Black Women is sponsoring a free financial literacy conference to encourage financial independence and self-sufficiency for women and girls, according to a press release from the organization. more
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