Portfolio

It used to be that dividend-paying stocks got no respect, but after a year like 2008, they are back in their prime, BusinessWeek reports.

As their revenues decline, hedge funds will spend $882 million on technology in 2009, 40% less than this year, according to TABB Group. But they will not be so quick to reduce spending on front-office trading technology.

Peter Cieszko, who was selected to become president and chief executive officer of Evergreen Investments next month, has suddenly left, “to pursue other opportunities,” the firm said.

Fidelity Investments has released New Year’s retirement savings resolutions for people in three different age brackets—those 25-35 who are just getting started; those 36-54 who are in the midst, or should be in the midst, of saving; and those 55 and older, who are heading into retirement.

Standard & Poor's Friday downgraded 11 major U.S. and European financial institutions as they continue to face pressure from complex financial risks and the weakening economy.

Pioneer Investments has hired Bill C. Taylor, a 25-year veteran of the financial services industry, to serve as senior vice president and head of relationship management and strategic alliances in the U.S., reporting to Joseph D. Kringdon, head of U.S. retail distribution and president of Pioneer Funds Distributor.

Neuberger Berman’s board of directors has selected Tom D. Seip as non-executive chairman and Robert Conti as chief executive officer. The two men succeed Peter E. Sundman, who is resigning.

Relief for retired seniors may come too late if the Treasury Department doesn’t change the rules on mandatory withdrawals from 401(k) plans this year.

GLG Partners, a hedge fund, is acquiring the U.K. fund management arm of Societe Generale. Although terms of the deal were not disclosed, the firms revealed that the unit has $8.2 billion of assets under management.

Wilmington Trust has promoted Adrian Cronje to chief investment strategist. He joined the firm in 2005 from Schroder Investment Management in London, where he was director, deputy head of quantitative equity products.