Money Management Executive Latest News

GAO Suggests Incentives To Keep Workers Working

McColgan Leaving Fidelity To Pursue Opportunities'

While sell-side research struggles to keep up its allure with the buy-side, many mutual fund companies are turning to alternative research, as it can offer unique and innovative ideas.

Citigroup's acquisition of BISYS for $1.47 billion last May, with a subsequent spin off of two units to private equity firm J.C. Flowers appeared to be a done deal. But one last under-the-radar acquisition took place two weeks ago.

The market’s recent turmoil is prompting some fund managers, particularly bond fund managers, to adjust their holdings, The Wall Street Journal reports.

A large hedge fund or investment bank trading portfolio is liquidating and causing chaos in some areas of the hedge fund business, according to MarketWatch.

Roel C. Campos, a commissioner with the Securities and Exchange Commission since 2002 and the first Hispanic to work in such a role, will be leaving the SEC in a month’s time to return to the private sector.

While the departure of Ellyn McColgan from Fidelity as the company’s president of distribution and operations this week took investors off guard, analysts who closely follow the company note that it’s merely the latest in a series of departures by high-profile executives at the company, the International Herald Tribune reports.

Presidential hopeful Sen. Hillary Clinton (D-N.Y.) and Oregon Republican Sen. Gordon H. Smith introduced this week the New Savers Bill, a multi-faceted proposal including provisions to create IRAs for children and encourage 539 college savings plans.

General American Life Insurance, a division of MetLife, has settled with the Securities and Exchange Commission for $3.3 million, on charges it failed to prevent late trading of mutual funds in one of its variable insurance products.