Money Management Executive Latest News

Boston Private Bank and Trust Co. has hired former Boston Bruin hockey star Derek Sanderson from State Street Global Advisors as a vice president and senior investment professional, to help it develop a line of business managing wealth for professional athletes.

WASHINGTON - If the fund industry thought it already had enough legal headaches from Fundgate, its next problem could be a profit squeeze.

Survivor: Mutual Fund Island. Which CEO will be the next to go? Many have taken the plunge already, but those who can outwit, outplay and outlast will be off the hot seat.

For the past four years, I've been a senior vice president handling wholesaling for AllianceBernstein in the New York metro region, the fifth-largest SMA provider in the nation. During that time I've managed to attract about $3 billion in new accounts. I've been fortunate to work in an area that has seen a great deal of growth in high-net-worth individuals.

Alliance Capital has named an independent chairman of the board of a number of its funds, according to an SEC filing last week.

Security Trust Corp., the Phoenix-based firm whose three top officials were charged with felonies by New York Attorney General Eliot Spitzer, will be shut down effective March 31, 2004.

State Street Names Barry Large-Cap Value Fund PM

Mutual fund managers are tipping their caps to interim chief John Reed as the New York Stock Exchange preps itself for a makeover. But industry lobbyists suggest that the proposed governance structure fails to provide adequate representation.

Closed-end funds are on pace to close out a record year of asset raising.

Salomon Brothers Asset Management said that the Salomon Brothers Emerging Markets Debt Fund began trading on the New York Stock Exchange Thursday. The new fund offering is a non-diversified, closed-end fund that will focus primarily on total return with high current income as a secondary objective, the New York fund manager said.