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BUSINESS
November 19, 1994 | From Associated Press
Chase Manhattan Corp. agreed Friday to acquire the securities-processing business of U.S. Trust Corp. for $363.5 million in stock. The move makes Chase the world's largest processor of securities transactions, which involves handling paperwork, settling trades, sending information to shareholders and other accounting and administrative tasks. The acquisition will give Chase, already a major processor, responsibility for handling $1.
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BUSINESS
April 24, 2004 | From Bloomberg News
Steven Burton, a former assistant vice president at Charles Schwab Corp.'s U.S. Trust Corp. unit, was arrested for allegedly deleting e-mails related to New York Atty. Gen. Eliot Spitzer's probe into mutual fund trading, a U.S. Trust spokeswoman said. Burton, 35, will plead guilty to a misdemeanor, she said.
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BUSINESS
April 24, 2004 | From Bloomberg News
Steven Burton, a former assistant vice president at Charles Schwab Corp.'s U.S. Trust Corp. unit, was arrested for allegedly deleting e-mails related to New York Atty. Gen. Eliot Spitzer's probe into mutual fund trading, a U.S. Trust spokeswoman said. Burton, 35, will plead guilty to a misdemeanor, she said.
BUSINESS
July 14, 2001 | LIZ PULLIAM WESTON, TIMES STAFF WRITER
U.S. Trust Corp., the blue-blood investment firm owned by Charles Schwab Corp., agreed to pay a $10-million penalty to regulators for allegedly violating rules designed to prevent money laundering and other fraud. U.S. Trust did not admit to any wrongdoing in its settlement with the Federal Reserve Board and the New York State Banking Department over allegations that its bookkeeping procedures and internal controls were inadequate, regulators and the company said Friday.
NEWS
June 20, 1996 | MYRNA OLIVER, TIMES STAFF WRITER
Tom Killefer, a banker, attorney and federal government official who served six years as chairman, president and chief executive officer of U.S. Trust Corp., has died. He was 79. Killefer, who retired as head of the New York-based investment firm in 1982 and left its board in 1989, died Sunday in Portola Valley, Calif., of cardiac arrest. A Republican, Killefer was appointed by Democratic President John F. Kennedy in 1962 as executive director of the Inter-American Development Bank.
BUSINESS
January 14, 2000 | WALTER HAMILTON, TIMES STAFF WRITER
Leading online brokerage Charles Schwab Corp. said Thursday that it would shell out $2.9 billion in stock to buy U.S. Trust Corp., a money management firm catering to affluent clients, in a deal that underscores Schwab's strategy of taking direct aim at full-service brokerage rivals. Amid a vibrant U.S. economy and 9-year-old bull market in stocks that have sharply boosted the ranks of wealthy Americans, the acquisition would bring Schwab a new stable of high-net-worth clients.
BUSINESS
July 14, 2001 | LIZ PULLIAM WESTON, TIMES STAFF WRITER
U.S. Trust Corp., the blue-blood investment firm owned by Charles Schwab Corp., agreed to pay a $10-million penalty to regulators for allegedly violating rules designed to prevent money laundering and other fraud. U.S. Trust did not admit to any wrongdoing in its settlement with the Federal Reserve Board and the New York State Banking Department over allegations that its bookkeeping procedures and internal controls were inadequate, regulators and the company said Friday.
BUSINESS
April 21, 1987 | Associated Press
The Supreme Court on Monday cleared the way for the continued spread of limited-service banks, which have stirred widespread controversy in the financial services business because of their exemption from certain federal regulations. The justices ruled that New York's U.S. Trust Corp. may establish a subsidiary to run one of these limited-service banks--commonly called non-bank banks--in Palm Beach, Fla.
BUSINESS
January 14, 2000 | WALTER HAMILTON, TIMES STAFF WRITER
Leading online brokerage Charles Schwab Corp. said Thursday that it would shell out $2.9 billion in stock to buy U.S. Trust Corp., a money management firm catering to affluent clients, in a deal that underscores Schwab's strategy of taking direct aim at full-service brokerage rivals. Amid a vibrant U.S. economy and 9-year-old bull market in stocks that have sharply boosted the ranks of wealthy Americans, the acquisition would bring Schwab a new stable of high-net-worth clients.
NEWS
June 20, 1996 | MYRNA OLIVER, TIMES STAFF WRITER
Tom Killefer, a banker, attorney and federal government official who served six years as chairman, president and chief executive officer of U.S. Trust Corp., has died. He was 79. Killefer, who retired as head of the New York-based investment firm in 1982 and left its board in 1989, died Sunday in Portola Valley, Calif., of cardiac arrest. A Republican, Killefer was appointed by Democratic President John F. Kennedy in 1962 as executive director of the Inter-American Development Bank.
BUSINESS
November 19, 1994 | From Associated Press
Chase Manhattan Corp. agreed Friday to acquire the securities-processing business of U.S. Trust Corp. for $363.5 million in stock. The move makes Chase the world's largest processor of securities transactions, which involves handling paperwork, settling trades, sending information to shareholders and other accounting and administrative tasks. The acquisition will give Chase, already a major processor, responsibility for handling $1.
BUSINESS
January 12, 1990 | From Times Wire Services
The U.S. Resolution Trust Corp. plans to put another 40 insolvent saving and loan institutions up for sale, Executive Director David Cooke said today. The RTC, which is responsible for disposing of insolvent thrifts, Thursday released a list of nine institutions in seven states that will be sold. Cooke told the RTC board today that a list of the latest 40 failed thrifts being offered to private bidders will be issued next week.
BUSINESS
June 24, 2003 | From Bloomberg News
Discount broker Charles Schwab Corp. is taking another step to expand its base of wealthy customers: The firm has agreed to buy the private-asset management business of State Street Corp. for about $300 million, a person familiar with the matter said. Boston-based State Street, the world's largest custodian of assets, probably will announce the sale of the unit, which manages $13 billion for wealthy investors, to San Francisco-based Schwab's U.S. Trust Corp. this week, the person said. U.S.
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