Money Management Executive Latest News

SEI Investments has hired Barry O'Rourke as managing director of its Dublin-based fund accounting, fund administration and shareholder services business.

Expecting a raise next year? Don't be surprised if it's not quite as generous as the hefty raises awaiting the independent trustees who preside over the UBS Funds complex.

Employees must be better educated about their retirement needs, as those who do not contribute to their 401(k)s can expect to replace as little as 52% of their annual pre-retirement income when they retire, an amount that is well below the average retiree's income needs. That is according to a recent study by Hewitt Associates of Lincolnshire, Ill., entitled, "Total Retirement Income at Large Companies: The Real Deal."

Forty iShare ETFs were transferred from the American Stock Exchange to the New York Stock Exchange on Wednesday.

United States stocks have been suffering this year, while the Latin American market is up more then 50%, according to CNNMoney.com.

Due to a new requirement having to do with performance data in the advertisements of 529 college savings plans, picking a college plan has just become a little bit easier, according to a Dow Jones Newswire.

Janus Capital has received a buy-out offer from some of its top executives and portfolio managers and Morgan Stanley has been hired to help the company weigh the offer, according to Reuters.

Ameriprise has settled with both the Securities and Exchange Commission and the NASD, with fines totaling $57.3 million for directed-brokerage, market-timing and revenue-sharing violations.

Investors are no longer pessimistic when it comes to the securities industry, the Financial Times reports, citing a survey of 1,535 investors by Sanford Bernstein. But that confidence is leading many to overestimate their own holdings, with the average investor reporting their domestic equity portfolio has increased 9.6% over the past 12 months, which is impossible considering the S& P 500 benchmark index has gained a mere 5.5%.

A computer glitch at a Computershare Web site, www.vote.proxy-direct.com, made it possible for mutual fund shareholders to vote proxies under other people's names, Dow Jones Newswires reports. The mistake also left personal information available online, compromising shareholders.