Money Management Executive Latest News

If the market were a glass of water, it is definitely not half-empty, but it sure ain't half-full, either, at least not in the third quarter.

PALM DESERT, Calif. - Ensuring that fund companies are complying with provisions of new anti-corporate fraud legislation will be at the top of the Securities and Exchange Commission's agenda for regulating fund companies in 2003, an SEC official said late last month.

Traditional defined benefit (DB) pensions are losing ground to defined-contribution (DC) models, according to recent findings from the Employee Benefit Research Institute (EBRI).

Safeco Life & Investments has hired Kevin A. Rowell, as president of Safeco Securities, Safeco Services Corp. and all the Safeco Mutual Fund Trusts. Prior to this appointment, he was the head of global relations at Alliance, where he was responsible for senior client relationships with broker/dealers around the world. Rowell is currently a member of the Bank Securities Association and the American Management Association.

Info-One has appointed Barry Greenberg as VP and product manager of VARDS Online, a leading Web-based annuity research and analysis platform. Prior to Info-One, Greenberg served as financial planning consultant for RBC Dain Rauscher, where he assisted consultants in financial and estate planning, and asset allocation strategies for the accumulation of wealth.

DST Systems has elected Travis E. Reed to its board, following the retirement and resignation of James Castle. Reed is founder and president of Reed Investment Corp. He began his career at Lockheed Aircraft and North American Aviation and has held executive officer positions at Geothermal Resources International, Commercial Aircraft Leasing Corp., and Systems Capital Corp.

Transamerica Investment Management has hired three new executives to expand its Denver-based, institutional sales and marketing operations. Trish Dale joined the company as marketing manager, Christine Janzen as internal sales manager, and Christopher Gwynn as regional sales director.

SEI Investments has announced the resignation of Richard B. Lieb as executive vice president, though he will remain as a member of the board. A 25-year veteran of SEI, Lieb was formerly the president of the company's investment systems and services unit, during which time it posted increases of almost 500% in profits.

The Massachusetts Securities Division has charged a Denver broker/dealer with scaring elderly people into abandoning their securities in favor of annuities with outrageous commissions.

Standard & Poor's and netDecide, a Web-based wealth management systems company, have created a platform for investment advisers.