Marshall & Ilsley
( MI), a Milwaukee-based bank holding company, said its president, Mark Furlong, was appointed acting chief financial officer. Furlong, who was CFO from April 2001 to October 2004, will serve in that position until the company names a successor. He will also continue as president.
Former CFO John Presley left the company in March to join
Fifth Third Bancorp
. Shares of Marshall & Ilsley were off 52 cents, or 1.2%, to $44.02.
said its share of trading volume in stocks listed on the
New York Stock Exchange
fell in March from the previous month and the same period last year.
The NYSE's market share fell to 74.6% from 76.2% last month and 80.5% in March 2005. The reported figures showed the combined NYSE and Archipelago trading data. Previous months were adjusted to reflect combined data, as well. NYSE increased its share of
issues to 19.2% in March from 18.5% in February. That was also up from a 17.5% share in the same period last year. NYSE Group's stock was up 5 cents at $78.30.
Paris-based financial-services giant
( AXA) received a binding offer for its AXA Re unit from Paris Re Holdings. Paris Re is a newly created company sponsored by a group of international investors led by Trident III, Hellman & Friedman, Vestar Capital Partners, Crestview Capital Partners, ABN Amro and New Mountain Capital. Trident III is a fund managed by Stone Point Capital.
If AXA takes the offer, it will get about 120 million euros ($145.2 million) above the net assets of AXA Re that would be transferred to Paris Re. AXA was losing 77 cents, or 2.2%, to $34.79.
Deutsche Securities initiated coverage of Bermuda-based insurance company
with a buy rating. Shares of Montpelier were gaining 13 cents, or 0.8%, to $17.29 following the initiation.
( CCRT) was higher by 3% after Wachovia upgraded its rating on the company's shares to outperform from market-perform. CompuCredit, a credit-card marketer based in Atlanta, was up $1.07 to $37.09.
shares were higher by more than 4% following Sun Trust Robinson Humphrey picking up coverage of the company.
Signature, a banking and brokerage firm based in New York, was initiated with a buy rating from Sun Trust. Shares of Signature were rising $1.38 to $33.47.