Industry

Did you ever wonder why the word "billion" seems to elicit a terrible feeling in your gut? Do you remember when a billion dollars seemed like so much money it was unattainable? Do you remember when a millionaire was considered really wealthy? Now, a millionaire is not rich and a billionaire must have done something evil to become one.

Industry veteran John Sullivan is joining Dynasty Financial Services as senior vice president, RIA and Transition Services.

On July 24, 2012, Eric J. Bokota has resigned as co-portfolio manager of the FPA International Value Strategy (including the FPA International Value Fund, FPIVX), effective July 23.

Morgan Creek Capital Management is tapping into the investment expertise of Daniel Kingston who has joined the firm as a member of its Investment Committee.

On July 24, 2012, Newly formed alternative asset management shop Madison Park Capital Partners, LLC has hired Erik Ogard, former Ddrector of Multi Strategy Solutions for Russell Investments, as a managing principal.

Dowling & Yahnke has announced that Michael Brown will join the firm as senior portfolio manager.

Northern Trust has hired Jeff Kearny to lead new business development for asset servicing the West Coast and in the Mountain states, including corporations, public pension funds, insurance companies and not-for-profit institutions.

TCW Funds, Inc. is liquidating the TCW Emerging Markets Equities Fund on August 31, according to a Securities and Exchange filing.

Paul Schott Stevens has been president and chief executive of the Investment Company Institute since 2004.

On July 20, 2012, Northern Trust has hired Jeff Kearny to lead new business development for asset servicing the West Coast and in the Mountain states, including corporations, public pension funds, insurance companies and not-for-profit institutions.