United Asset Management Corp. announced its board of directors has...

United Asset Management Corp. announced its board of directors has authorized an 8 million share increase in the number of shares of common stock that may be repurchased under the firm’s stock repurchase program. The increase brings the total number of shares available for repurchase to 9.6 million. UAM has repurchased more than 5.6 million shares this year, shrinking its net shares outstanding by 6.3%.