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BlackRock reorganizes leadership again

January 13, 2016

BlackRock Inc., the world's largest money-manager, named Rich Kushel to head multi-asset strategies and Tim Webb to oversee global fixed income in its third reorganization since 2012. Ken Kroner, who led both the multi-asset strategies and scientific...

Marsico restructures buyout debt

November 21, 2010

Executives at Marsico Capital Management LLC have restructured $2.7 billion in debt as they fight for their company's survival three years after a highly leveraged deal to buy back the firm from Bank of America Corp.. The restructuring, which...

Money manager and radio personality charged with foreign-currency fraud

December 6, 2009

The Securities and Exchange Commission has obtained an emergency court order freezing the assets of a Minneapolis money manager and a nationally syndicated radio personality for allegedly operating a foreign-currency-trading scheme. Patrick...

Eliminating fear as a factor

December 6, 2009

In his 38 years in the business, I. Craig Hester has never seen clients as scared as they were during the market downturn. “Many times, I thought I had witnessed the emotion of fear — in 1987 and again on 9/11. It turns out, relatively speaking,...

Al Frank Asset Management buys Innealta

December 1, 2009

Al Frank Asset Management Inc. today announced it has acquired Innealta Portfolio Advisors LLC, a quantitative asset management firm specializing in the creation and tactical management of exchange-traded fund portfolios. “This acquisition...

A rosy quarter for assets under management

November 15, 2009

The latest quarter was an enormous relief for many major money managers, which reported gains in assets under management for the three-month period ended in September, though several still saw declines from a year earlier. Affiliated Managers...

Back in the game: Gary Black, former Janus CEO, launches investment shop

October 23, 2009

Gary Black, former CEO of Janus Capital Group, launched a new money management firm, Black Capital Management, in New York. In a telephone interview, Mr. Black said his firm, which will be SEC registered, will offer traditional long-only as...

Stock jockeys feeling bullish, Russell finds

June 23, 2009

Investment managers are gathering into a bull stampede, according to the latest findings from Russell Investments. The Investment Manager Outlook, a quarterly survey of approximately 300 institutional money managers, found that while most managers...

American Century plucks Lehman money managers

January 13, 2009

American Century Investments has hired two former money managers from Lehman Brothers Asset Management, a unit of Lehman Brothers Holdings Inc. of New York. John Lovito and Federico Garcia Zamora recently joined the firm as co-portfolio managers...

S&P Ratings gives BlackRock an A+

August 28, 2008

Standard & Poor's Ratings Services has increased its ratings for BlackRock Inc.'s long-term corporate credit rating and its short term rating, due to the New York-based money manager's “strong operating performance” during the “current challenging...

Massachusetts pension board fires five managers

August 7, 2008

The Massachusetts Pension Reserves Investment Management Board fired five managers , including Legg Mason Capital Management, a subsidiary of Legg Mason Inc. of Baltimore, for inconsistent performances and high-tracking errors. Others fired...

Contrarians speak up

June 27, 2008

Being a contrarian and seeking out companies that other managers ignore could be the key to a successful strategy, said asset managers who spoke at the “Undiscovered Managers” panel yesterday at the Morningstar Inc. conference in Chicago....

Pyramis names new president

June 20, 2008

Pyramis Global Advisors, a division of Fidelity Investments of Boston focused on institutional asset management, announced yesterday that Kevin C. Uebelein has been named president and chief executive. Mr. Uebelein succeeds Peter J. Smail, who...

Gross' fund at Janus suffers worst monthly redemptions since October

July 9, 2015

The Janus Global Unconstrained Bond Fund suffered its worst monthly redemptions since bond legend Bill Gross started managing it in October. Clients pulled an estimated $39.8 million from the bond fund at Janus Capital Group Inc. in June, bringing...

BlackRock faces backlash for supporting 'fat cat CEOs'

May 23, 2016

BlackRock is in the hot seat for being “soft” on high pay for corporate executives. The world's largest asset manager faces an angry throng toting an online petition. In reading the Fed's tea leaves, the market might have overlooked a couple...

Janus acquires fund firm to give Bill Gross a co-manager

July 1, 2015

Bill Gross, who has been running the $1.5 billion Janus Global Unconstrained Bond Fund since leaving Pacific Investment Management Co. last year, is getting a co-manager. Janus Capital Group Inc. on Wednesday said that Kumar Palghat, who worked...

Flows to liquid alts funds slow after torrid run

June 22, 2015

One of the hottest areas for U.S. money managers is quickly cooling off. Flows into hedge fund-like mutual funds, a category that attracted almost a third of the money going into actively managed funds in the past six years, have slowed this...

Pimco sold a lot of bonds when Bill Gross left ... to itself

June 11, 2015

When Bill Gross stepped down from the Pimco Total Return Bond Fund in September, traders across Wall Street anticipated that the world's biggest bond fund would be forced to dump holdings at fire-sale prices to meet record client withdrawals....

Bill Gross' 'Old friend' Old Mutual shifts money to Janus from Pimco

June 5, 2015

Old Mutual Global Investors transferred management of a $272 million bond fund to Bill Gross at Janus Capital Group Inc. from his previous firm, Pacific Investment Management Co. Mr. Gross, 71, will take over as the manager of the Old Mutual...

With performance up, outflows at Pimco Total Return Fund slow

June 2, 2015

Client redemptions from Pacific Investment Management Co.'s flagship fund last month slowed to the lowest level since July 2014. Investors withdrew $2.7 billion from the Pimco Total Return Fund in May, compared with $5.6 billion in April and...

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