Lugo, Denise
June 2005
Investment Dealers' Digest;6/6/2005, Vol. 72 Issue 22, p4
Trade Publication
The article presents developments in the financial services industry in the U.S. President George W. Bush appointed Congressman Christopher Cox, a Republican from California, as the new chairman of Securities and Exchange Commission (SEC) a day after its current chairman, William Donaldson, announced he would retire on June 30. Merrill Lynch & Co. Inc. has appointed James Gorman as executive vice president and head of its global acquisitions group, a new position. Citigroup Inc. has agreed to pay $208 million to settle SEC fraud-related claims that in 1999 its asset management division improperly set up an internal transfer agent to service its Smith Barney Inc. mutual funds operations.


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