Money Management Executive Latest News

The demand for alternative and high-net-worth investment professionals has offset a marked decline in the demand for sales executives and equity portfolio managers, according to a report that Russell Reynolds released today.

NEW YORK - Commerzbank AG's sale of Montgomery Asset Management LLC to Wells Fargo & Co. will effectively mean the end of the Montgomery brand of mutual funds.

Funds Post Modest Inflows, As Investors Remain Wary

DENVER - In a teleconference for securities analysts and shareholders from Janus Capital Management headquarters here last Thursday, executives of the sixth-largest equity manager in the U.S. mapped out their post-restructuring strategy.

NEW YORK - As mutual funds continue their struggles to retain assets, investors are looking for more beneficial ways to invest their money and have turned a gleaming eye towards hedge funds and offshore accounts. After all, these are two of the few areas left that have not already been saturated.

Advertising by mutual fund companies and other investment firms fell to its lowest levels of the year, slipping by more than $6.5 million during the third quarter, according to data from New York research firm Competitrack. The declines were largely the result of a typical slump in fund advertising during the months of July through September, analysts said, but companies are still stung by dwindling assets under management and swooning markets.

Federated Investors has hired Christopher F. Corapi as SVP, head of equity research. Prior to joining Federated, Corapi worked for Credit Suisse Asset Management, where he served as managing director of U.S. equity research and co-head of U.S. equities.

PFPC, a member of The PNC Financial Services Group, has named Donald E. Doherty, Jr.. vice president of sales. Doherty has more than two decades of sales and marketing experience in mutual funds, insurance, banking, investment advisory and data warehousing. Previously, he served as director of business development for Access Data Corp., and prior to that, as senior sales officer with BISYS Investment Services.

The BISYS Group has promoted Dennis R. Sheehan, the current president and COO, to the position of CEO, effective Jan. 1.

NewRiver, a leading provider of e-services for the financial industry, announced the appointment of Dan J. Hesser and R. Craig Kirsch to its board. Hesser is the retired chairman, president and CEO of INVESCO Funds Group. Kirsch currently serves as the director and CEO of Princeton eCom, and previously served as CEO of Invesmart.