Money Management Executive Latest News

The CFP Board of Governors has announced four new board members, with their terms taking effect in 2003. These include George Munoz, president of Munoz Investment Banking Group. Nick Georgis, also named to the board, is the head of client relations and sales for Schwab Institutional. Bart Francis is a member of AICPA's personal financial planning executive committee. Karen Schaeffer is a financial planner.

PIMCO Funds Advisor has asked shareholders of six of its funds, including the PIMCO Emerging Markets Floating Rate Fund and the PIMCO Municipal Partners Fund, to permit Salomon Smith Barney to assume investment management and advisory control of the funds.

Steven H. Adler is going to pay for cheating his mutual fund clients - and not just from his wallet. The U. S. District Court in Tampa., Fla., has sentenced the 64-year-old Floridian to five years in prison and ordered him to pay more than $900,000 in restitution to his victims for wire and mail fraud.

The U.S. fund management industry ranked second overall, finishing behind that of Australia, according to Cerulli Associates' CA Lodestar Update, a 400-page report designed to provide an assessment of retail and institutional fund management marketplace in 16 countries around the world.

American International Group (AIG) has formed a new international retirement savings unit. John A. Graf, currently executive vice president of retirement savings at AIG, will head up the new unit.

An in-house TV studio has gone from being a luxury to an absolute necessity at many investment firms.

The light in the media spotlight has grown harsher. The continuing bear market and a rush to revive ratings has caused broadcasters and reporters to ask much tougher questions these days.

If Americans were tested on the difference between growth and value investing, most would fail.

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.

Lord Abbett named 26 additional executives as partners, bringing its total partner roster to 47, the firm announced this week.