News Highlights: Top Financial Services News of the Day - Wednesday at 12 AM ET

Charles Schwab Names President Rick Wurster as Next CEO 
 

Walt Bettinger, who oversaw the company's rise to a personal-finance juggernaut, will retire after a 16-year tenure.

 
LPL Financial Terminates CEO Dan Arnold 
 

The board of LPL Financial Holdings terminated Dan Arnold as the retail investment advisory firm's top executive for having violated the company's commitment to a respectful workplace.

 
Monarch Alternative Capital Closes $4.7 Billion Credit Fund 
 

Monarch Alternative Capital has raised more than $4.7 billion for its latest fund, which the distressed-debt investor says will capitalize on opportunities presented by elevated interest rates and economic uncertainty.

 
Apollo's CEO Says Raising Money Is No Longer the Hard Part. Finding Deals Is. 
 

Marc Rowan touted his firm's ability to find investment opportunities during its investor day.

 
Partners Group to Sell Metering Company Techem in $7.5 Billion Deal 
 

The Swiss private-equity firm said it agreed to sell its majority stake in Techem to U.S. asset manager TPG and Singapore sovereign wealth fund GIC.

 
OceanSound Raises Nearly $1.5 Billion to Back Government-Linked Businesses 
 

The firm founded by former Veritas Capital executive Joe Benavides increased the upper limit on its second fund to meet investor demand.

 
TD Securities to Pay More Than $28 Million in Connection With Spoofing Charges 
 

The Securities and Exchange Commission also said the bank was charged for failing to supervise the former head of its Treasurys desk, who allegedly made hundreds of illegal trades over a 13-month period.

 
FTX Shareholders to Recover $230 Million From Government-Seized Assets 
 

Equity holders of the failed crypto exchange will receive cash equivalent to 18% of the seized assets.

 
Financial Services Roundup: Market Talk 
 

Find insight on Peel Hunt, HSBC, Standard Chartered and more in the latest Market Talks covering the Financial Services sector.

 
The Giant Hedge Fund That Hates Risk and Still Wins 
 

Millennium Management's obsession with not losing money has powered $56 billion in investor gains. Its CEO, Israel "Izzy" Englander, avoids the spotlight.

(END) Dow Jones Newswires

October 02, 2024 00:15 ET (04:15 GMT)

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