Industry

PineBridge Investments is getting out of the mutual fund business.

The Investment Company Institute’s Board of Governors has elected ICI Chairman Greg Johnson, president and chief executive officer, Franklin Resources, to serve an additional one-year term.

MainStay Investments earlier this month finalized the adoption of the MainStay Marketfield Fund (MFLDX; MFADX).

Wall Street executives show a more conservative outlook toward their investments, but a majority still avoid a financial advisor.

Goldman Sachs Asset Management Andrew “Buddy” Donohue, the former head of the U.S. Security and Exchange Commission's Division of Investment Management as its deputy general counsel.

Kanaly Trust, a Houston wealth manager with approximately $2 billion in assets under management, announced it will be acquired by Lovell Minnick Partners, a private equity firm that provides buyout and growth capital to companies in the financial services industry.

Curian Capital has hired Amy Temkin as vice president of strategic accounts to lead Curian’s Strategic Accounts team on driving sales and forming long-term strategic with broker-dealers.

Amid growing economic worries and a shift in investing strategy, advisors say they are bullish about their own firms' profits and assets under management.

HighTower Advisors hired David Nelson as a private wealth advisor at its Washington, D.C., based Pagnato-Karp Group.

Goldman Sachs Asset Management (GSAM) hired Andrew “Buddy” Donohue, the former head of the U.S. Security and Exchange Commission's Division of Investment Management as its deputy general counsel.