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The deal would be a big one, given that State Street Global Advisors, the bank's asset management unit, has about $4 trillion in assets.
The hiring push is the fund company’s third in less than a year, reflecting the boom in individual investing that has lifted the entire trading industry.
On Thursday, the asset manager's shares had plunged as much as 14.2% on the news that Germany’s financial markets regulator, BaFin, and U.S. prosecutors were probing claims by a former sustainability executive that DWS overstated the amount of assets adhering to social and environmental criteria.
Schweiss stepped down as president of TD Ameritrade Trust Co. and managing director of advisor advocacy in 2020, after 12 years with the company.
The asset manager known mostly for its money market funds has high hopes for its late move into fast-growing exchange traded funds. The firm first filed plans to launch the fund 10 years ago.
The acquisition of NN Investment Partners boosts the bank's European ties and gives it a toehold in the sustainable investing industry; about three-quarters of NN's investments are backed by ESG criteria.
The company plans to close its two midtown Manhattan offices, and its New York-based staff will work remotely or from buildings in New Jersey and Connecticut.
The SEC chairman's nod toward '40 Act crypto funds is the only opening the ETF space needed.
The three strategies it is rolling out as semitransparent ETFs are already available as mutual funds.
By joining forces with ETF Trends and ETF Database, Alerian seeks to become a powerful force that helps ETF providers stay ahead of the curve.
The minority investment adds emerging markets expertise to Spouting Rock's multi-boutique mix.
More than 100 individuals were named on the short list for awards in 16 categories; the winners will be announced on Sept. 9.
Chief Executive Bill Stromberg is retiring after 35 years at the Baltimore-based asset management company.
Legg Mason vet Joe Sullivan is bullish on the future of Allspring Global Investments. The $604 billion asset management arm of Wells Fargo & Co. is being acquired for $2.1 billion by GTCR and Reverence Capital Partners.
According to its stewardship report, the asset manager supported 35% of 843 shareholder proposals that it voted on in the recent proxy season, compared with 17% in the previous year.
Boston Family Advisors has a narrow focus on wealthy families that have most of their assets invested in private equity and venture capital.
The Knights of Columbus Asset Advisors will manage the new fund, which will be advised by Faith Investor Services. The two largest faith-based funds are the Global X S&P 500 Catholic Values ETF and Inspire 100 ETF.
The asset manager has added four allocation mixes to its target allocation portfolios.
The asset manager said the direct indexing tools it will offer after the acquisition will build on a pilot program it has been offering to RIA clients that's powered by Just Invest.
The addition of the $161 billion manager will bring the bank's assets under management to $325 billion.