Money Management Executive Latest News

Capital Fulfillment Group has announced the hiring of Michael E. Mullowney, Jr. as director of sales. Formerly, Mullowney was a managing director for Wachovia Securities, during which he was a member of the chairman's platinum council and named to the chairman's advisory council. Prior to Wachovia, he was a VP at Legg, Mason, Wood, Walker, where he was a member of the president's council.

Sales at Harbor Capital

Neuberger Berman has struck an agreement to acquire most of the assets of LibertyView Capital Management. The assets are currently controlled by Credit Agricole Indosuez, part of Credit Agricole Group.

Lipper has acquired Capital Access International, an international firm that provides institutional investor profile information and bond ownership analysis. The addition of fixed income analytics complements the company's existing equity expertise, said CEO Michael Peace.

Pioneer Investment Management has consolidated 17 positions from its Omaha, Neb., inside-sales office to its Boston headquarters and will reduce the staff size to 12. In addition, the firm will reduce its workforce by an additional 27 positions in both the Omaha and Boston offices.

The Investment Company Institute claims the cost of investing in mutual funds continued to decline between 1998 and 2001, the most recent years numbers were available.

More mutual funds are adding redemption fees to curb market timers.

SCOTTSDALE, Ariz. - Not only are the features in various state-sponsored 529 college savings plans widely different and difficult to compare, but politics can get in the way, too.

As scandal after scandal have unfolded on Wall Street this year, and investors have become increasingly frightened, some industry officials have called for mutual funds to act as shareholder advocates. In other words, to protect investors from those rascals over at the corporations who are spending shareholder's cash on posh executive suites - and then declaring bankruptcy.

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