Money Management Executive Latest News

Mellon Financial Corp. said it has completed the previously announced acquisition of the separate accounts division of New York City-based Ashland Management Inc.

AdvisorCentral Hires Groom

The board of trustees of Berger Financial Group of Denver is like a contestant on "The Dating Game," auditioning potential suitors to try to determine who is worthy of its $1 billion management contract.

Fidelity Investments of Boston has undergone a restructuring that will affect at least four top-level executives, including the firm's vice chairman, as well as roughly a dozen departments. Although the Boston behemoth is characteristically tight lipped about the reasons for the changes, observers, meanwhile, say Fidelity may be trying to focus on more lucrative business units in an effort to boost revenues.

AMR Corp. of Fort Worth, Texas, the parent company of American Airlines, is considering giving flight to its entire investment management unit, including its proprietary mutual fund unit.

SCOTTSDALE, Ariz. - Panelists at the Investment Company Institute Operations Conference's session on efficiencies among transfer agencies (TA) warned of both the difficulties and rewards of installing efficiency-measurement systems and explained the hurdles companies face, such as determining data definitions.

Get em while they're young and keep em for life. They have a longer time horizon. They only get richer as they get older. And they want financial advice. It seems simple enough.

NEW YORK - Discovering that former Senator Bob Dole is the new spokesman for annuities was not the only new twist on an old story at this year's National Association for Variable Annuities annual meeting here.

LAKE BUENA VISTA, Fla. - As the population ages, insurers are adding wrinkles to life insurance and other products to serve the growing number of people who may actually live to be 100 or beyond.

The Vanguard Group of Valley Forge, Penn. announced that it has posted a new bulletin entitled "Plain Talk on Bond Risks" on its Web site in an attempt to clear up several common misconceptions about bond funds, especially concerning their safety.