Woodbury Financial Services will become part of American International Group’s broker-dealer business, Advisor Group.
Banking + Finance
St. Cloud-based Marco said the acquisition is part of its plans to expand nationally.
Former CEO Brad Anderson and former President and Chief Operating Officer Al Lenzmeier are reportedly among those Richard Schulze is recruiting for his executive team as he attempts a private takeover.
The new stores will be built in an area of western North Dakota where population growth is occurring thanks to booming oil production.
Credit rating agency Moody’s predicted that Merrill Corporation, if it defaulted on its debt agreements, could take one of three paths: a full refinancing with existing and/or new lenders, an out-of-court debt restructuring, or bankruptcy.
Greenlight Capital told investors that Best Buy is “trying to come up with a strategy” following the departures of CEO Brian Dunn and Chairman Richard Schulze, which could lead to additional “business disruption.”
The St. Paul-based bank, which was founded in 1915, will become a wholly owned subsidiary of American National Corporation but will retain its headquarters and name.
The company has signed franchise agreements to open locations across the Middle East and in Puerto Rico over the next few years; it also plans to open 70 new locations in the United States and Canada this year.
After experiencing more than $17 million in losses at its Hong Kong office over the past 18 months, Piper Jaffray Companies has decided to close the office and expects the closure to boost its financial performance.
The Minnesota Department of Employment and Economic Development will begin accepting applications in November for the $12 million in credits that’s available next year.
Barbara Kaye Rechtzigel is accused of stealing money from the CD accounts of customers of Minnwest Bank in Marshall.
Target said that a recently announced interchange fee settlement “would perpetuate a broken system, restrict retailers from any future legal action, and offer no long-term relief for retailers or consumers.”
Medina-based Polaris Industries and New Delhi-based Eicher Motors Limited will together form a company and invest about $50 million over the next three years to develop a new line of vehicles for India and other emerging markets.
The move will not result in any job reductions in the Twin Cities, and the firm intends to hire between 300 and 500 new employees in Chicago.
Former Wells Fargo banker Fawsiyo Hassan Farah reportedly received a 33-month prison sentence—and Michael Kweku Asibu, who worked as a personal banker at Bremer Bank and Associated Bank, reportedly received 42 months in prison.
At Supervalu’s annual meeting on Tuesday, shareholders rejected a measure that would have reduced the supermajority needed to approve the sale of some or all parts of the grocer.
Buyer Ardagh Group says the glass container maker’s annual sales total about $800 million and it employs roughly 2,700.
Private equity firm LaunchEquity Partners said that if its offer were accepted, it would invest $10 million in MakeMusic over the next two years and retain all of the company’s employees.