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Pimco considered Goldman Sachs' Gary Cohn for top spot

May 29, 2015

Pacific Investment Management Co. considered recruiting Gary Cohn, president of Goldman Sachs Group Inc., as a top executive in 2013, people with knowledge of the matter said. Mr. Cohn was on a short list of potential candidates to succeed Mohamed...

JPMorgan wealth unit still under regulators' scrutiny despite bank's currency guilty plea

May 26, 2015

JPMorgan Chase & Co. put allegations of currency-fixing largely behind it with a guilty plea, but it's not out of the woods yet. With its new felony record, America's biggest bank needs to seek the Department of Labor's permission to keep managing...

Separately managed accounts ranked by first-quarter returns

May 12, 2015

U.S. large-cap equity Product 1Q return 1-year return 3-year return 5-year return 5-year std dev 5-year Sharpe ratio Assets ($M) Manager Location Navellier & Associates - Large Cap Growth Portfolio 7.70% 19.89% 16.37% 16.90% 13.41% 1.25 $1,651.2...

JPMorgan under investigation over fund sales

May 6, 2015

JPMorgan Chase & Co. received subpoenas and inquiries from the Securities and Exchange Commission and other regulators about how it sells its own mutual funds and other proprietary products. The SEC, other government authorities and a self-regulatory...

Target-date growth boosts T. Rowe's assets in the first quarter

April 22, 2015

T. Rowe Price Group reported $772.7 billion in assets under management as of March 31, up 3.5% from three months earlier and up 8.6% from a year earlier, according to the company's earnings statement Wednesday. Net inflows for the first quarter...

BlackRock to pay $12 million to settle SEC conflict of interest claims

April 20, 2015

The SEC charged BlackRock subsidiary BlackRock Advisors on Monday with failing to disclose a conflict of interest created by the outside business activity of one of the firm's former portfolio managers. According to the SEC's order, BlackRock...

BlackRock's Larry Fink to top CEOs: Ignore investors and focus on the long term

April 15, 2015

BlackRock's Laurence D. Fink, whose firm is the largest shareholder in companies from Microsoft Corp. to JPMorgan Chase & Co., is telling 500 CEOs to focus on long-term growth and avoid giving in to pressure from investors seeking immediate...

The 3 surprises billionaire investor Stan Druckenmiller is expecting

April 15, 2015

Stan Druckenmiller is betting on the unexpected. The billionaire investor, who has one of the best long-term track records in money management, is anticipating three market surprises: an improving economy in China and rising oil prices. He also...

O'Hanley has work cut out for him at State Street Global Advisors

April 10, 2015

Ronald P. O'Hanley faces big challenges now that he is CEO of State Street Global Advisors. Mr. O'Hanley on April 1 replaced Scott Powers, marking his return to money management after quitting as president of asset management and corporate services...

State Street Global Advisors names former Fidelity exec O'Hanley CEO

March 31, 2015

Ronald O'Hanley was named president and CEO of State Street Global Advisors, effective in April, said SSgA spokeswoman Alicia Curran Sweeney. Mr. O'Hanley will replace Scott Powers, who plans to retire later this year. Mr. O'Hanley left Fidelity...

Pimco renames some equity funds in push to juice expansion

March 26, 2015

Pacific Investment Management Co., the firm best known for bonds that's been seeking to expand its stock offerings, will rename some of its equity funds as it plans to open new products with Robert Arnott's Research Affiliates. Pimco is renaming...

Vanguard snubs outsiders in digital advice

March 25, 2015

When the Charles Schwab & Co. selected the 54 funds that would go into its robo-adviser, it extended an olive branch to its rival, the Vanguard Group Inc. Schwab is using a dozen Vanguard products in the robo-advice platform, Intelligent Portfolios,...

Calpers squeezing out 8% fee savings from money managers

March 12, 2015

The California Public Employees' Retirement System expects to pay 8% less next year for external money managers as it liquidates its hedge-fund program. The largest U.S. state pension fund, known as Calpers, projects that it will pay $930.7...

Loomis Sayles promotes president Kevin Charleston to CEO

March 8, 2015

Kevin Charleston was named CEO at Loomis Sayles & Co., effective May 1, according to company spokeswoman Erin Heard. He will replace Robert J. Blanding, who will retain his role as chairman. “This is the right time to transfer my day-to-day...

Vanguard: Passive with investing, not governance

March 4, 2015

Vanguard Group Inc., the largest U.S. mutual fund provider, has a message for the boards of directors of America's biggest companies: It's watching how they're being run. In a Feb. 27 letter sent to 500 of Vanguard's largest holdings, Chief...

T. Rowe assets up 2% in quarter despite $5.1 billion in net outflows

January 29, 2015

T. Rowe Price Group on Wednesday reported $746.8 billion in assets under management as of Dec. 31, up 2% from three months earlier and up 8% from a year earlier. Net outflows for the fourth quarter were $5.1 billion, compared with net inflows...

Advisers 'blindsided' by Gross departure as Pimco faces rebuilding

September 26, 2014

Bill Gross' departure from Pimco not only reshuffles the investment management industry, it casts serious doubt on the dominance of the company he co-founded in 1971 and oversaw as it grew to manage nearly $2 trillion for everyone from big pension...

MFS Names $438 billion investment chief Roberge as co-CEO

September 9, 2014

MFS Investment Management, a Boston-based money manager owned by Canada's Sun Life Financial Inc. (SLF), said Michael Roberge will become co-chief executive officer of the firm as of Jan. 1. Mr. Roberge, who oversaw more than $438 billion as...

Pimco gets support from CEO of parent Allianz

May 8, 2014

Allianz SE, defending its Pacific Investment Management Co. unit against shareholder criticism over declining returns and management infighting, said the bond manager has been a very profitable investment since the German insurer took it over...

TIAA-CREF in $6.25B deal to buy Nuveen Investments

April 14, 2014

In a deal that reshuffles the mutual fund space, TIAA-CREF said Monday it had agreed to acquire Nuveen Investments Inc. for $6.25 billion from a group led by private-equity firm Madison Dearborn Partners. The deal is the largest transaction...

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