Finance

The firm launched an asset management unit to manage the product, providing access to the estimated $450 billion digital currency market.

Asset managers already allocated $11 billion to developing new funds to comply with the requirement.

Following criticism for its faulty 2016 election algorithms, the firm appointed a new research director to collaborate with its quants and money managers.

While investors have been won over by the promise of better returns than plain-vanilla funds, issuers can justify charging more for the additional complexity.

Funds managed by Marco “Mick” Hellman sold most of their holdings, while CEO Dan Arnold received options worth $5 million.

CEO Abigail Johnson's estimated net worth grew to $11.2 billion from $8.6 billion last year.

The moves may push some shareholders to rebalance their positions, likely at a cost.

Focus Financial adds a $4 billion wealth management firm to its expanding roster.

The IBD network has retained Goldman Sachs for a structural review that could have major implications.

The firm reported $33.9 billion in redemptions from active funds over the last year.