Money Management Executive Latest News

Taking advantage of the expiration of its five-year contract with TIAA-CREF on July 30, New York State's College Savings Program has selected Columbia Management Group, a division of Fleet Bank, and Vanguard to manage its $1.8 billion 529 plan.

Employers expanded the number of 401(k) plans in the nation by 4% in 2002, according to the National Defined Contribution Council (NDCC) and the Spectrem Group.

Janus reported second-quarter earnings of $47.5 million, or 21 cents a diluted share, a 36% decline from $73.7 million, or 33 cents a diluted share in the second quarter of 2002.

Roger Edelen, formerly a professor at Wharton Business School, has joined ReFlow Management as managing director of research. Edelen is an expert in portfolio risk, fair value and portfolio turnover.

Eric Anderson has joined BISYS as president of its education and licensing services division. Anderson, who reports to Joe Suquet, president of BISYS' insurance and education services group, was previously with S1 Corp.

Lisa Baird left her position as a senior analyst with Cerulli Associates to join CRA Business Strategies Group, a consultant to the investment management industry, as director of research. Having also worked at Fidelity Institutional Retirement Services Co. and McKinsey & Co., Baird has experience in strategy development, product marketing and distribution, channel strategy and market research. She reports to Frank L. Tarantino, executive vice president for strategic consulting.

Tom Robinson has been promoted from chief investment officer to president of Oppenheimer Asset Management. "Tom is a visionary and a well-respected leader within Oppenheimer Asset Management and throughout our organization," said Albert G. Lowenthal, chairman and CEO of Fahnestock Viner Holdings, the parent company of Oppenheimer. "Having Tom at the helm of this critical business unit is a move that we think will result in continued growth and expansion."

Jeff Joseph has joined Rydex Capital Partners as a managing director to help the firm expand its hedge fund business. Rydex launched a hedge fund of funds called the Rydex Sphinx Fund earlier this year.

Vanguard Group plans to beef up its fund lineup by adding 11 new index funds and 20 ETF versions of its mutual funds.

The real estate sector is being pegged as a pullback candidate, but that hasn't stopped new money from pouring into these funds.