Money Management Executive Latest News

Alan Greenspan just can’t stop working. The 81-year-old former head of the Federal Reserve has signed a consulting contract with PIMCO, the Newport Beach, Calif.-based bond behemoth, according to The New York Times. .

Randall R. Lee, regional director of the Securities and Exchange Commission’s Los Angeles office, will step down at the end of June to pursue opportunities in the private sector.

Janus and Invesco are close to repaying the combined $425 million in restitution they owe investors, the Rocky Mountain News reports.

Bowing to pressure from activists trying to get companies to remove their investments in the Darfur region, Fidelity Investments has 91% of its holdings in PetroChina, which invests in government-owned oil exploration in Sudan, the Associated Press reports, citing a regulatory filing.

The AFL-CIO sent a letter to the Securities and Exchange Commission urging it to require Blackstone Group to register with it as a mutual fund company, given its holdings in investment securities.

The fund industry in South Korea will consolidate over the next two to three years, said Evan Hale, a managing director at Fidelity Investments who oversees the firm’s business in that nation as well as Hong Kong, Singapore and China, Reuters reports.

JPMorgan has fired senior portfolio manager Tang Jian from its joint venture in China due to an investigation by officials into his stock trades, Reuters repots. Chinese regulations bar fund managers from buying securities on their own. The investigation comes at a time when the regulators in China are cracking down on the market.

Claymore Advisors has licensed the three Morningstar Super Sector Indexes to create three exchange-traded funds that will focus on manufacturing, services and information.

Especially now that the news has leaked that hedge fund managers are raking in incredible salaries—some making more than $1 billion a year—Congress is undoubtedly going to be taking a serious look at increasing regulation of hedge funds, The Economic Times reports. And that’s got many hedge fund managers stepping up their political contributions, hiring lobbyists and, in some cases, forming their own political action committees.

Stephen Treadway, former chairman of PIMCO Funds: Multi Manager Series and chief executive of the firm’s brokerage, settled with the Securities and Exchange Commission for $75,000 for directing brokerage business between 2000 and 2003 to nine firms in exchange for shelf space. The SEC said by paying some of the funds’ distribution costs out of funds’, rather than the firm’s, assets, Treadway caused a conflict of interest that should have been disclosed to the board.