Money Management Executive Latest News

Financial services firms continue to battle against one another for wealth management talent even though companies are forced to pay hefty salaries that crimp profits.

Instead of reporting to Ayer, Mass., federal prison on Monday to serve a 20-year term for defrauding $450 million from investors in the failed Bayou hedge fund, Samuel Israel III has either committed suicide or left clues to make authorities believe he has.

Fidelity Investments is having one of its weakest first five months in recent history. Only 39% of Fidelity’s equity funds are in the company of the top half of their peers, whereas 64% were a year ago, according to Morningstar, The Wall Street Journal reports.

The Amana funds are guided by Islamic investment principles and have impressed both Muslim and non-Muslim investors because of noteworthy long-term results.

NEW YORK – Timothy Geithner, president and CEO of the Federal Reserve Bank of New York, called for substantial reforms to the structure of the regulatory system of the U.S.

While Morningstar certainly has carved out its niche and made a name for itself arming individual investors with mutual fund data and insight, the company plans to increase its focus on financial advisers and institutions, or the “pros” eager to pay for quality research. That’s according to an interview with Morningstar CEO Joe Mansueto in this week’s issue of BusinessWeek.

David Glaser, co-head of investment banking at Bear Stearns, is the latest of several of his former colleagues to join Bank of America.

With the dollar beaten down - 7% against the euro and 6% against the yen so far this year - fund companies are offering investors the opportunity to invest in exchange-traded funds that invest in foreign currencies, The Wall Street Journal reports.

Hedge funds may be coming off their worst first quarter in history, including, surprisingly enough, a poor showing in the energy sector, but not everyone is doing poorly.

Having already raised more than $850,000 this year, Mutual Funds Against Cancer is aiming to top $1 million, all of which will be donated to the Center for Applied Cancer Sciences (“CACS”) at the Dana-Farber Cancer Institute.