Money Management Executive Latest News

Vanguard Group has taken George U. "Gus" Sauter's name off of filings as a manager of its index funds, according to filings with the Securities and Exchange Commission.

Former hedge fund manager Hilary Shane has been permanently barred from associating with any NASD-registered firm and will pay more than $1.45 million to settle NASD and Securities and Exchange Commission charges of fraud and insider trading.

Testimony in the Theodore C. Sihpol case further damns the former Bank of America broker, according to Dow Jones Newswires. Michael Brown, who had been Sihpol's boss, said that Sihpol was "placing the orders in a normal period of time 1/4 right after receiving the orders."

Citigroup Global Wealth Management is joining the hedge fund fray.

The Hartford Financial Services Group has revamped its flagship Director variable annuity, renaming it The Director M, and adding six new investment managers. The previous iteration of the contract had only two investment managers but now more closely resembles The Hartford Leaders series of variable annuities, which feature sub-accounts managed by five investment managers.

Merk Investments has launched the Merk Hard Currency Fund, which will allocate assets over wide spectrum of high-quality, short-term money market instruments of countries perusing sound monetary policy, thereby hedging its U.S. investors' money against depreciation of the dollar.

Two lawmakers introduced a bi-partisan bill Tuesday that would make permanent the tax exemption on qualified withdrawals from 529 college savings plans.

While calling the real estate management and development company's case against longtime tenant Bank of America "audacious," a New York Civil Court judge has ruled that the landlord, Solow Building Co., can ask BoA to leave.

Weiss, Peck & Greer, a unit of Robeco Investment Management, said on Monday that its three-member mutual fund family has changed its name to the Robeco Investment Funds, effective April 29. Each individual fund will add Robeco to their moniker as well.

HSBC has replaced its HSBC Asset Management unit with HSBC Investments and HSBC Halbis Partners, effective May 3.