Zacks Investment Research
Ameriprise Financial authorizes additional $2 billion share buybackPosted by RJ and Makay on Jun 20, 2011 |
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Ameriprise Financial announced last week that its board of directors has authorized an additional buyback of up to $2 billion worth of its common stock through June 28, 2013. Through the first quarter of 2011, the company had repurchased $969 million of common stock under its current $1.5 billion authorization, and the remaining capacity will continue to be available through the firm’s 2012 annual shareholders’ meeting.
Morgan Stanley recently announced the launch of Morgan Stanley Huaxin Securities, a joint venture with Chinese securities firm China Fortune Securities Co., also known as Huaxin Securities. Banks outside of China are required by local regulatory authorities to form joint ventures to enter Chinese emerging equity and debt markets.
