Money Management Executive Latest News

The Office of Compliance Inspections and Examinations at the Securities and Exchange Commission reminded fund companies that with all of the staffing and operational cutbacks taking place, compliance is an area where shortcuts cannot be tolerated.

Fidelity Promoting FDIC-Insured CDs

State Street Corp. will lay off 6% of its workforce, or 1,800 people, in the first quarter. Initially, the layoffs will cost the company as much as $350 million, or 51 cents to 55 cents a share, but that will then revert to $400 million in annual savings.

Neuberger Berman managers have bid for and won the right to buy the asset management business in a court-supervised sale, a source told sister publication Investment Dealers' Digest.

The unprecedented financial crisis of 2008 has redefined everyone's perception of risk, sending private wealth managers back to the drawing board to make sure clients really understand how risky complicated products can be.

NEW YORK - "There is so much stimulus in the economy. The punchbowls are at the party, they're spiked-but no one is drinking yet." That was the apt summary of the current economic and investment picture by Rodney Olea, manager of the AHA Limited Maturity Fixed Income Fund, speaking at SunStar's press briefing for Lipper Leaders here last week.

Everywhere you look these days, people are talking about green cars, green energy, greenhouse gases and even green mutual funds. This new demand for all things green is enough to make some money managers green with envy.

Faced with economic difficulties, almost one out of every five, or 18%, of Americans are dipping into their 401(k) savings, Bank of America found in its annual Retirement Savings Survey.

Reserve Funds has added insult to injury, literally, to the investors in its Primary Fund. The fund, which broke the buck on Sept. 16 and has been struggling to return investors’ assets ever since, is now valuing the remaining balance at 98.5 cents per share.

Alex Widmer, CEO of Swiss bank Julius Baer, died unexpectedly Dec. 3 at the age of 52.