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Tag Archives: morgan keegan

Hosemann files brief against SEC over Morgan Keegan settlement

JACKSON — Secretary of State Delbert Hosemann has filed a brief in support of a lawsuit filed against the Securities and Exchange Commission (SEC) concerning the Morgan Keegan settlement. The case demands the SEC finally distribute millions of dollars in settlement funds to Mississippi investors. “Injured Mississippi investors have been stopped from receiving their own money by their own government. ...

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Regions putting brokerage emphasis on branch-based investment services

In slightly more than six months, Regions Bank has hired over 100 financial advisors in a strategy the Birmingham bank company and Mississippi market leader says will personalize investment brokerage services at its 1,200 branches branches throughout its 16-state market. The goal is to have 125 financial advisors on board by year’s end and strengthen the advisory force to up ...

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Regions' earnings beat estimates as net interest margin widens

Regions Financial (RF) reported fourth-quarter earnings that beat analysts’ estimates as its net interest margin, a gauge of lending profitability, widened, Bloomberg reports. Net income was $265 million, or 18 cents a share, compared with a loss of $548 million, or 48 cents, a year earlier, when the lender posted a non-cash charge tied to the sale of the Morgan ...

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Regions contracts with PrimeVest for wealth management services

Birmingham, Ala.-based Regions Bank has contracted PrimeVest Financial Services to provide investment and financial advisory services to customers in the 16 states in which it does business, the bank said Thursday. The agreement with PrimeVest will help the Regions, Mississippi’s market leader in retail banking, fill the service gap that was left after it sold its brokerage unit, Morgan Keegan, ...

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Morgan Keegan funds to be distributed in Mississippi

JACKSON — Secretary of State Delbert Hosemann says about 1,600 Mississippians have until June 16 to file claims for what they are owed by Morgan Keegan. A.B. Data Ltd. is distributing money from settlements with Morgan Keegan & Co. and Morgan Asset Management to investors in Mississippi, Alabama, Kentucky, South Carolina and Tennessee. The settlements resulted from an investigation of ...

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Regions: Morgan Keegan sale lowers bank's ‘overall risk profile’

Regions Bank – Mississippi’s market leader — won’t be making a big payment to the Troubled Asset Relief Program, or TARP, with the $1.18 billion it is to gain through the pending sale of the Morgan Keegan investment brokerage. But the liquidity that the Birmingham bank’s holding company, Regions Financial, will gain from the sale of Morgan Keegan to Raymond ...

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Regions notes prospect of $300M in new legal losses

Birmingham-based Regions Financial Corp. says it could incur legal losses of up to $300 million on top of the $210 million it paid to settle fraud claims against investment brokerage subsidiary Morgan Keegan by Mississippi and other Southeastern states. In its second quarter 10-Q filing with the U.S. Securities & Exchange Commission earlier this month, the publicly held banking company ...

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TARP pressure behind Regions putting Morgan Keegan up for sale

By Ted Carter You can toss out public relations as a reason Regions Financial, parent of Regions Bank, wants to get rid of wayward brokerage and investment banking subsidiary Morgan Keegan. It comes down to money – specifically the $3.5 billion the Birmingham-based Regions still owes the U.S. Treasury’s Troubled Asset Relief program, analysts say. J.P. Morgan analyst Vivek Juneja, ...

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More of the same from market

The trend will continue to be no trend for the foreseeable future With the economy showing signs of recovery, many people are wondering what the stock market will do in 2011. “In our view, the economy should continue on a slowly improving path in 2011, although high unemployment and weak housing are likely to remain headwinds,” says Terrell Kalmbach with ...

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