Money Management Executive Latest News

When you're looking for growth, industries with favorable demographics can make that growth easier. That doesn't mean we at Sterling Advisors won't own stocks that are in industries with more challenging demographics, but we think having a good idea of what the favorable demographic trends are is one helpful starting point.

Bank of America, the nation's third-largest bank, was slapped with a record $10 million fine last week for failing to comply with regulators' repeated requests for information during their probe of improper trading practices.

Ronald Reagan once said, "Mr. Gorbachev, tear down this wall." Eventually, the Berlin Wall came down. But for Morgan Stanley, building a wall is the best way to prevent conflicts of interest between its fixed income research and sales departments. That is exactly what it will do, the company said on Friday.

Daniel Calugar, founder of the now-defunct Security Brokerage, requested Wednesday that a Nevada court throw out the charges filed against him by the Securities and Exchange Commission.

NEW YORK - Soft dollars and directed brokerage are appalling and must be eliminated. That’s the tune we’ve been hearing almost uninterrupted for the last several months as regulators and lawmakers have unleashed the hounds on the fund industry. But not all are on board with the efforts to kill the practices.

Kevin Dunleavy of Merrill Lynch will run that company's new hedge fund client initiative as well as a newly developed committee focusing on hedge funds, Reuters reports, citing a memo it obtained Friday.

Leaders of the mutual fund industry yesterday applauded the appointment of Paul Schott Stevens as the new president of the Investment Company Institute, succeeding Matthew Fink.

Bank of America Chief Executive Officer Ken Lewis may downsize up to 11,000 employees as part of cost-cutting measures aimed at trimming $1.1 billion in after-tax expenses after its merger with FleetBoston Financial, BizJournal reported. Both companies have a combined payroll of 181,000 employees.

New York Attorney General Eliot Spitzer and the SEC recently questioned ING Group, the European insurer, about market-timing activities within its variable annuities, according to the International Herald Tribune.

The Money Management Institute bulked up its governing body yesterday by electing new members from Eaton Vance, Fidelity Investments, MFS Investment Management and Phoenix Investment Partners.