Matt Ackermann
Director of Digital Content at InvestmentNews. Twitter: @acketyack
Director of Digital Content at InvestmentNews. Twitter: @acketyack
Legg Mason Inc., the money manager that has struggled with more than five years of net redemptions, said it will buy QS Investors, a global quantitative equity firm.
Bill Miller said Jeffrey Gundlach and real estate billionaire Sam Zell are wrong about housing.
Buyers of junk bonds are retreating to the market's more obscure securities as the rise of exchange- traded funds fuels concern that such fast-moving cash is exacerbating price swings.
Former SAC Capital Advisors LP hedge fund manager Michael Steinberg was sentenced to three-and-a-half years in prison for insider trading, capping one of the biggest victories for prosecutors who spent seven years investigating the firm and its boss, Steven A. Cohen.
Martin Lack admitted that for 17 years he helped U.S. clients maintain secret overseas accounts.
Sarah Bianchi, the director of economic and domestic policy for Vice President Joe Biden, was hired as a managing director in its advisory unit.
Affiliated Managers Group Inc., the company that owns stakes in more than two dozen money managers, said first-quarter profit rose 11% as the rally in global stocks boosted assets under management.
Victims of R. Allen Stanford's $7 billion Ponzi scheme can sue outside companies and law firms alleged to have played a role in the fraud, the Supreme Court has ruled, dealing a setback to the securities industry.
Morgan Stanley will pay $490,000 to settle U.S. Commodity Futures Trading Commission allegations that the company failed to adequately oversee customer funds.
The Securities and Exchange Commission is poised to name a former executive of Wall Street's self-regulator as its top overseer of exchanges, brokerages and clearing firms, according to three people familiar with the matter.
