Money Management Executive Latest News

African-American-owned businesses take in some $70 billion in revenue in a year, but are statistically invisible, according to Keith Green, ING's senior vice president for domestic emerging markets.

Black Diamond Asset Management (BDAM) has hired John Hausladen and Stephen Slack as managing directors. Both will be responsible for wholesale sales and support of key broker/dealers in certain U.S. regions.

Lincoln National Convertible Securities Fund has appointed Damon J. Andres as the fund's new portfolio manager.

UBS Global Asset Management has appointed Lyndsey Pilling as the U.K. director of consultant relationships.

Putnam Investments has hired a new head of global stock research, Joshua Brooks, in another effort to reinvigorate its once-hot stock funds.

NEW YORK - "Remorse and disgrace" rather than "hubris" is what is driving the investment management M&A business, Donald Putnam, CEO and managing director of Putnam Lovell NBF Securities, told executives gathered for The Money Management Institute's annual convention here.

John Thornton, co-COO and president of Goldman Sachs Group will retire on July 1 to become a professor at Tsinghua University in Beijing, China.

NEW YORK - Separately managed accounts are expected to grow to 12.5 million accounts, ballooning up to $2.1 trillion in assets by 2011, T. Neil Bathon, president of Financial Research Corp., told The Money Management Institute last Monday.

Strong Capital was the first-place winner in Pyxis Consulting's 2003 529 Web Site Survey for its Web sites for Nevada, Oregon and Wisconsin.

AIM Investments and Invesco Funds Group, both subsidiaries of Amvescap, are creating a single distribution platform for the two companies' retail products.