Money Management Executive Latest News

PFPC, a member of The PNC Financial Services Group, has hired Rheeta C. Wise as managing director and senior VP in transfer agency services. Wise formerly served as senior VP of sales support and marketing for BISYS, and prior to that, was with EquiServe as a senior VP and senior managing director.

MetaMorphix has elected Fergus Reid as chairman of the JP Morgan/Chase Mutual Funds. Reid is currently the chairman and CEO of Lumelite Corp., a privately owned, plastics manufacturing company. Reid began his career with Roosevelt & Son, rising through the ranks to president and CEO.

Gartmore Global Investments (GGI) has named James Bernstein as associate general counsel and VP, replacing Dina Tantra, who has moved to Nationwide's general counsel office in Ohio.

Morningstar has named Art Lutschaunig president of Morningstar Investment Services. The company said Lutschaunig will replace Thomas Florence, who is leaving the company at the end of the year to pursue other interests, but who will also remain in his current role as CIO. Formerly, Lutschaunig was executive VP and director of research for Strategic Advisers, a Fidelity Investments company.

NYLIM Retirement Plan Services has appointed Gary Jackson as managing director of sales. A 20-year veteran in the retirement field, Jackson previously worked for UBS Global Asset Management as a member of the institutional sales team. Prior to UBS, he held positions at Citigroup and Salomon Smith Barney.

J. Michael Havey, who heads up A.G. Edwards' money management advisory services, has been named to the board of governors of the Money Management Institute. Havey's election is for a three-year term.

Morningstar has struck a deal to provide America Online users with access to its ClearFuture retirement planning service. The arrangement marks the first time that the information will be offered on a large scale via a non-financial services company.

American Express Financial Advisors has to cough up $350,000 in fines to the NASD after the firm was accused of inadequate disclosure related to variable annuity sales. The misconduct is alleged to have occurred over a 30-month period ending in 2000.

Hedge funds are still far from entering the mainstream, but they will gain access to a broader distribution thanks to a new index from Standard & Poor's of New York.

A top shareholder in $3.1 billion market cap Stilwell Financial has hired The Blackstone Group of New York to eyeball Stilwell's proposed restructuring, but it probably will have little impact, said at least one analyst.