Money Management Executive Latest News

House Passes Baker Bill, Updated to Address Scandal

Asset management firm Dreyfus will market $4.7 billion in Bear Stearns assets, the companies announced last Tuesday.

Broker compensation deals among mutual funds are attracting more intense regulatory scrutiny for possible conflicts of interest as the $7 trillion mutual fund industry remains on the defensive.

Think mutual fund investors are the only ones trying to decipher which sponsors have been naughty and which have been nice?

WASHINGTON - Testifying before the Senate Banking Committee last week, SEC Chairman William Donaldson called for the formation of a new risk assessment unit to circumvent abuses in mutual funds and other investments.

After posting its best single-quarter showing since 2000, UBS shattered mostly all forecasts and, at the same time, announced the end to the global bear market. "It's obviously true that the bear market is over," said Peter Wuffli, UBS chief executive.

Insurance companies are gearing up for the holiday season with new ads. MetLife has added two television spots and two print ads to its "Have you met life today?" campaign. The company is targeting the Thanksgiving holidays, focusing on encouraging people to make sure they have enough income for retirement. MetLife is using the phrases "create your own pension plan" and "guaranteed income for life" to promote its annuities to Baby Boomers.

Generation X may have a nebulous name, but female Gen Xers are clear when it comes to their finances, according to a survey by Allstate Financial. Women of the Baby Boom, who range in age from 38 to 57, have saved on average $451,000. Women of Generation X, who range in age from 24 to 37, have saved on average $410,000. Savings include pensions and other company-sponsored plans.

Pilgrim Baxter CEO, Co-Founder Quit in Probe

After interviewing the CEO of a Geneva-based fund company at their Park Avenue headquarters some years ago, I couldn't help but notice their private stretch limousine parked out front. The vanity plates tipped it off. The shareholders sure would love to know about that one, I thought at the time.