Money Management Executive Latest News

The former CEO of Putnam Investments, Lawrence J. Lasser, has settled his severance package dispute with the company and will receive $78 million from the parent firm, Marsh & McLennan, according to reports.

The message was clear from Securities Industry Association President Mark Lacritz at a technology speech in New York, eFinancialNews reports.

The chief investment officer at Waddell & Reed Financial Inc. is apparently not a supporter of John Kerry’s 2004 bid to unseat President George W. Bush, The Wall Street Journal reports.

Mutual fund providers are stepping out from the shadow of widespread scandals and investing heavily in advertising campaigns designed to restore investor confidence, The Wall Street Journal reports.

The Money Management Institute is hosting a luncheon and afternoon conference on alternative investments in New York on Wednesday, June 23. Entitled "Distribution of Alternative Products Through Open Architecture," the meeting will take place from noon through 5:30 p.m. at the Harvard Club.

Regulators are expected to reach settlements with Conseco, Invesco Funds and Bank One Corp., the latter of which was one of the original four firms implicated in the far-reaching mutual fund scandals, by the end of June, Reuters reports.

Charles Schwab Corp.’s CEO David Pottruck said on Thursday that he expects the scandal engulfing the fund industry to grow even deeper.

Bear Stearns has tapped Beth Golden, deputy of special projects for New York Attorney General Eliot Spitzer, to oversee its global compliance efforts.

The lure of hedge fund rewards is starting to take its toll on traditional mutual fund firms. To stop that from happening, many mutual funds have decided to start up hedge funds themselves, Reuters reports.

New York Attorney General Eliot Spitzer has become notorious for settling with mutual fund firms only after they agree to lower fees, pay huge amounts of money back to investors and change their policies. But when it comes to the lawsuit against former New York Stock Exchange Chairman Richard Grasso, Spitzer is not even considering a settlement anymore.