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Its consumer finance unit, CitiFinancial, remains on the auction block.
Income from the finance unit more than tripled.
Conseco agreed to sell the troubled finance unit to CFN Investment Holdings, an investor group, and the consumer finance unit of General Electric.
Now he is working in Drexel Hamilton's public finance unit, which underwrites and sells municipal bonds.
Industrial results are the crucial yardstick for G.E. now as its finance unit is pared back.
John D. Macomber is a senior lecturer in the finance unit at Harvard Business School.
Mr. Hancock, 42, joined Morgan in 1980 in the corporate finance unit in London.
The company bought Washington Mutual's consumer finance unit for $1.25 billion in cash.
But then came the financial crisis, which hit the company's finance unit, GE Capital, particularly hard.
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The board's decision followed a damning report by BaFin, Germany's financial regulator, on the shoddy control by WestLB of its principal-finance unit in London.
On March 9th it announced the launch of LabMorgan, a $1 billion e-finance unit that will back promising ideas from inside and outside the firm.
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