Money Management Executive Latest News

Fidelity Investments said on Tuesday that its retail brokerage customers can trade the firm’s Nasdaq-tracking ETF commission-free until the end of August.

Michael Eisner should not hold the positions of both chairman and chief executive officer of Walt Disney, according to Ohio’s public pension system, or OPERS. Therefore, the company has joined other pension funds in saying it will not vote for Eisner at Wednesday’s shareholder meeting.

Putnam Investments said on Tuesday a pair of executives and two other mid-tier employees have left the firm following the recent discovery of "operational errors" made by the individuals back in 2001.

Bank of America, the nation’s third-largest bank, announced on Monday the launch of a new product for financial advisers that will enable their high net worth clients to customize their portfolios.

Fidelity Investments, the nation’s biggest mutual fund complex, said on Monday it has reshuffled its portfolio management team for three of its Select funds.

Bank of America’s retiring asset management chief, Richard DeMartini, is set to receive $4 million in incentives before his departure April 1, Reuters reports.

A $120 million lawsuit against former New York Stock Exchange Chief Dick Grasso may be next on New York Attorney General Eliot Spitzer’s hit list, The Wall Street Journal reports.

The naming of Ed Haldeman to replace Larry Lasser as CEO of Putnam Investments, along with other actions taken by the troubled fund company, have prompted Morningstar to lift its advice to investors that money should not be poured into Putnam funds.

Privately held investment bank AH Lisanti Capital Growth Monday announced the launch of the Adams Harkness Small-Cap Growth Fund, a joint offering that will be managed by veteran fund skipper Mary Lisanti.

A financial consultant who worked for Citigroup’s Smith Barney unit timed $20 million in FleetBoston’s Columbia funds.