Wealth management

In no other industry would a debt-financed investment that's the equivalent of going to medical school be considered the same as a film-studies degree.

The survey results signal a greater willingness on the part of portfolio managers to carry or add additional credit risk to their portfolios.

The board member says documents have been withheld amid a federal investigation, intensifying the imbroglio at the state school employees’ retirement plan.

Deals, trends and research in structured finance and asset-backed securities for the week of March 19-25

The Athene acquisition completes a process that Rowan – who succeeds Black as CEO no later than July – started in 2009, when he created the annuity business so that it would send vast sums of cash to Apollo for investments

Wells Fargo plans to sell its asset management business to two private equity firms, part of Chief Executive Charlie Scharf's efforts to dump nonessential operations and help the bank emerge from years of scandals.

Wells Fargo, reeling from years of scandals, is unloading several businesses as it seeks to simplify its structure. The sale of the asset management unit could fetch more than $3 billion, according to industry sources.

Wells Fargo is exploring the sale of its asset management unit, a business that could fetch more than $3 billion, according to a person briefed on the matter.

Apollo Global Management Inc. board members are investigating co-founder Leon Black’s ties to disgraced financier Jeffrey Epstein after more information emerged this month about their longtime business dealings.

Dana Wade, a former OMB official, says a strong capital footing will help the Federal Housing Administration weather an uptick in delinquencies and ensure the mortgage market is viable once the economy recovers.