Hilton to Dump Citi Cards For American Express

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Hilton, one of the world’s largest hotel companies, announced that American Express has been selected as the exclusive issuer for Hilton Honors co-branded credit cards in the United States, beginning January 1, 2018. Hilton had been offering co-branded credit cards with both Citi and American Express. The announcement follows a comprehensive and competitive bidding process …

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TIAA Completes Deal for Everbank

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NEW YORK — TIAA, a leading financial services provider, announced has completed its acquisition of Florida-based EverBank Financial Corp (NYSE:EVER) and its wholly owned subsidiary EverBank. The transaction was originally announced August 8, 2016. The deal significantly expands TIAA’s existing retail banking and lending products and complements the company’s full suite of retirement, investment and …

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E*Trade Reports April Activity

NEW YORK — Discount brokerage E*TRADE Financial Corporation released its Monthly Activity Report for April 2017. Daily Average Revenue Trades (DARTs) for April were 196,022, a three percent decrease from March and a 23 percent increase from the year-ago period. Derivatives represented 31 percent of DARTs during the month. The Company added 38,904 gross new …

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American Express Launches Rewards Card for NFCU

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Navy Federal Credit Union and American Express have partnered on a new rewards credit card for Navy Federal members: the Navy Federal More Rewards American Express Card. This new credit card will be accepted on the American Express network and will be available this fall. “The More Rewards Card enhances our rewards card program overall,” …

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Nasdaq to Launch Venture Investment Program

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NEW YORK — Nasdaq (Stock:NDAQ), which operates the Nasdaq stock exchange, is launching its own venture investment fund. Nasdaq Ventures will be dedicated to investing in and partnering with unique financial technology (fintech) companies worldwide. The program’s main objective is to identify and collaborate on new technologies and groundbreaking services and solutions which align with …

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JPMorgan Tops List of Financial Employers

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NEW YORK — JP Morgan is the preferred employer of finance professionals globally, taking first place in the eFinancialCareers Ideal Employer rankings for 2017. Goldman Sachs, Google, Morgan Stanley and Citi complete the eFinancialCareers Ideal Employer Global top five. eFinancialCareers, a job hunting website for the financial industry, surveyed 5,983 finance professionals globally during Q4 2016 …

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JPMorgan Chase Buying MCX Payments Technology

NEW YORK — JPMorgan Chase has agreed to acquire MCX’s payments technology to help expand Chase Pay, the mobile and digital wallet for Chase customers. MCX, a network of America’s largest merchants, was the premier launch partner for Chase Pay in October 2015. The transaction is expected to close in the coming weeks. MCX’s members …

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KKR Closes $13.9 Million Private Equity Fund

NEW YORK — Global investment firm KKR has announced the final closing of a $13.9 billion fund focused on investments in private equity-related transactions in the United States, Canada and Mexico. The KKR Americas XII Fund will include $1.4 billion in capital from KKR alongside investors through the Firm’s balance sheet and employee commitments. KKR’s …

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NBCUniversal Invests $500 Million in Snap

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NBCUniversal, a division of Comcast, has invested $500 million in Snap Inc. during its IPO as part of a strategic investment and partnership reports CNBC. Snap is the parent company of Snapchat, a popular social media app with over 150 million users. The investment has been a good one so far. Since going public at …

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Forbes Names Top Female Financial Advisors

NEW YORK – Forbes and SHOOK Research have compiled the first-ever list of America’s Top Women Wealth Advisors. The list features 200 women advisors from brokerage firms, including Morgan Stanley, Merrill Lynch, UBS, Wells Fargo and several independent firms who represent over $8 trillion in retail assets under management. No. 1 on the list is …

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Related Invests $80 Million in Ladder

NEW YORK — Related Companies has made a strategic investment in real estate investment trust Ladder Capital Corp (NYSE:LADR). Related has purchased $80 million of Ladder stock from certain pre-IPO shareholders of Ladder, including affiliates of TowerBrook Capital Partners and GI Partners. Ladder provides commercial mortgages in amounts ranging from $5 million to $250 million. …

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Hedge Funds Buying Financial, Health Care Stocks

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The 50 largest hedge funds are pouring their funds into financial and health care stocks according to research from Factset. Overall, hedge funds decreased their equity exposure by 1% in the fourth quarter of 2016 . This marked a reversal from the third quarter, when equity exposure increased by 2.9%. The Financial and Health Care sectors were the …

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E-Trade to Offer More Commission-Free Funds

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NEW YORK — E*TRADE Financial has announced a significant expansion of its commission-free Exchange Traded Funds (ETF) and No Transaction Fee (NTF) mutual fund lineup: E*TRADE now offers a total of 133 commission-free ETFs and more than 4,400 NTF mutual funds. Since January 3, 2017, E*TRADE has added 1,900 no-load or load waived, no-transaction-fee mutual …

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