Investing
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The Washington Trust Co.’s multi-pronged growth strategy is paying off, as the state’s largest community bank registered a 9.1 percent year-over-year net income gain in the second quarter, despite a 6.2 percent decline in total interest and noninterest income. more
Providence Equity Partners LLC is scrapping a plan to sell Brazilian mobile-phone tower operator Grupo TorreSur after bids fell short of its expectations, people with knowledge of the matter said. more
Global private equity firm Providence Equity Partners on Tuesday announced its investment in Mauritius-based Helios Towers Africa as part of a $630 million fundraising round by the independent telecommunications tower company. more
Tao Sun, who led Providence Equity Partners Inc.’s investing team in China, has left the private- equity firm after three years, according to a person familiar with the move. more
Fidelity Investments will lay off 460 employees in Kentucky and Texas over the next 12 to 18 months following the outsourcing of the company’s printing and mailing operations. more
Former Alex and Ani CEO Giovanni Feroce has formed an investment firm in Providence focused on backing retail and media ventures, he said in an interview with Providence Business News. The new firm, called GF Asset Management LLC, has about a dozen employees based in offices at 39 Pike St. in the Fox Point section of the city. more
Senior vice president and regional sales manager at Webster Bank talks about his recent recognition from Bank Investment Consultant, which named him to the list of Top 20 Program Managers for 2014. more
Much has changed since Barrington resident Maria F. Barry started in the commercial-credit department of Fleet Boston Financial in 1987, starting with the regional bank’s acquisition by national lending giant Bank of America. Twenty-seven years later, Barry is now community-development-banking national executive for Bank of America Merrill Lynch, in charge of the bank’s affordable and mixed-income housing investments. With demand for rental housing soaring across the country and government-housing subsidies static at best, affordable developers and their lenders are struggling to fill financing gaps. more
Boston-based Fidelity Investments fell behind Vanguard Group Inc. for most money managed in 401(k)-style retirement plans last year, Bloomberg News reported more
Duffy & Shanley’s public relations team has won four awards through The Publicity Club of New England’s annual Bell Ringer Awards, announced June 9. more
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