Industry

Hedge fund Duff Capital Advisors has laid off approximately 80% of its staff, mostly form its investment teams, Dow Jones reports.

Investment research analyst Ian Jacobs, who has worked at Warren Buffett's Berkshire Hathaway Inc. since 2003, is reportedly planning to launch his own fund on March 1.

American Century Hires Former Lehman Veterans

The events that occurred in the financial services industry over the past year were once thought inconceivable. At this point, regulators are chomping at the bit to reverse how Wall Street does business, and investors are downright spooked. The editors of SourceMedia's business publications offer their views on how these dramatic shifts on Wall Street and in corporate America will impact businesses and investors this year.

Christopher Wilson, who ran the Columbia Funds unit at Bank of America, has left the company and been replaced by J. Kevin Connaughton.

Fidelity Investments has reorganized its institutional equity team, naming Michael S. Cashel, senior vice president, equities, and chief of institutional sales trading. Michael J. McConnell is senior vice president, head of sales trading for institutional equities.

Fidelity Investments has selected James Catudal to run the $6.24 billion Fidelity Growth and Income Portfolio Fund, succeeding Timothy M. Cohen.

Fidelity Hires Cieszko as Institutional Services Chief

Large asset management mergers and acquisitions deals will likely occur this year, according to a report from Jefferies Putnam Lovell, as firms take advantage of distressed sales and divestitures.

Talk about leaving with an impression. The likely legacy of Securities and Exchange Commission Chairman Christopher Cox, when he steps down this year after taking on the position in 2005, is likely to be that of ineffectiveness during the worst economic period since the Great Depression, The Wall Street Journal reports.