Industry

Randy Takian, head of strategy and development for Morgan Stanley’s hedge fund and alternative investment products, will head its investment management unit’s retail and intermediary business, according to Dow Jones.

U.S. Trust, Bank of America Private Wealth Management has announced the appointment of 12 client-facing professionals for the New York City area.

Fines Continue to be Levied on Fund Companies for Market Timing & Late Trading, With a Renewed Focus on U.K. Orders

‘Bond Broadside’ Includes Two Worst-Performers, Down -73% & -70%

Envestnet Snags Ibbotson's Henkel for Retirement Group

On the heels of its $328 million loss in the first quarter, down from a $81 million profit in the first quarter of 2008, American Airlines' parent company, AMR Corp., Fort Worth, Tex., announced on Wednesday it is unloading 90% of its American Beacon Advisors investment management unit for $480 million in cash.

Bank of America has named Claire Huang as head of marketing for its Global Wealth & Investment Management division.

AIG Investments is expanding its Global Business Development team in the U.S. and Europe with the addition of three executive positions.

Citigroup has hired Thomas Flexner as global head of real estate. Flexner comes to Citi from Bear Stearns, where he recently served as vice chairman overseeing commercial real estate and the financial buyers group.

Odyssey Investment Partners LLC has announced several promotions within its investment team.