Mergers & Acquisitions

  2009 AUG 12 - (VerticalNews.com) -- Genworth Financial, Inc. (NYSE:GNW) reported a net loss for the second quarter of 2009 of $50 million, or $0.11 per diluted share, compared with a net loss of $109 million, or $0.25 per diluted share, in the second quarter of 2008. Net operating income(1) for the second quarter of 2009 was $9 million, or $0.02 per diluted share, compared with $212 million, or $0.49 per diluted share, in the second quarter of 2008 ...read more

  2009 MAY 20 - (VerticalNews.com) -- Genworth Financial, Inc. (NYSE:GNW) reported a net loss for the first quarter of 2009 of $469 million, or $1.08 per diluted share, compared with net income of $116 million, or $0.27 per diluted share, in the first quarter of 2008. Net operating income(1) for the first quarter of 2009 was $14 million, or $0.03 per diluted share, compared with $244 million, or $0.56 per diluted share, in the first quarter of 2008 ...read more

  2008 SEP 1 - (VerticalNews.com) -- Genworth Financial, Inc. (NYSE:GNW) announced the launch of its new wealth management division, Genworth Financial Wealth Management, Inc. The announcement completes the integration of two Genworth companies, AssetMark Investment Services, Inc. and Genworth Financial Asset Management. Genworth completed its acquisition of AssetMark in October 2006.

  "The integration of AssetMark and Genworth Financial Asset Management creates a unique opportunity to bring together two companies with deep roots in the independent advisory business and a shared vision for the future," according to Ron Cordes, co-chairman, Genworth Financial Wealth Management. "We were able to examine what each company did well individually, blend the best of both platforms and create new tools and services to meet the evolving needs of independent financial advisors. ...read more