Money Management Executive Latest News

Fred Alger Management has hired Drew Zielinski as vice president of consultant relations to specialize in sales for the institutional defined benefit division. He will be developing relationships and communication networks with consultants representing corporate, Taft-Hartley, foundation and endowment plans.

Legg Mason has elected former Swedish Prime Minister Hon. Carl Bildt and former Financial Accounting Standards Board Chairman Dennis R. Beresford to its board of directors.

Boston University announced the creation of an advisory board to help manage the BU Online Program for Financial Planners, a new interactive, multimedia program for financial planners and professionals. The board consists of a wide range of leaders within the financial services industry, who will evaluate and critique the quality of the program.

R. Jay Gerken has been elected to a number of boards under the advisement of Salomon Brothers Asset Management and Smith Barney Fund Management, subsidiaries of Salomon Smith Barney Holdings.

The Mutual Fund Education Alliance presented its STAR Awards for Excellence in Shareholder Communications to Ariel Mutual Funds, Montgomery Funds, and Strong Funds at their sixth annual awards ceremony.

Standard & Poor's recently unveiled a new research product based on research by 60 of its analysts, designed to help brokers and financial planners choose equity market sectors.

Consumers are seeking financial advice in increasing numbers, despite the widespread use of the Internet and financial planning software, according to the CFP Board's 2002 Consumer Survey.

Vontobel Asset Management's distributor, Vontel Fund Distributors, has formed a strategic alliance with ROI Capital Management to internationally market the onshore and offshore ROI Partners Fund to institutions and endowments.

Delving into seldom-visited territory, The Reserve Funds of New York kicked off its new advertising campaign with a spot in The Wall Street Journal last week, urging investors to evaluate the safety and quality of money-market funds. The campaign, which boasts the benefits of The Reserve Primary Fund Class 8, cites concerns over the credit quality of money-market instruments.

The marked decline in advertising expenditures by mutual fund and other investment firms this year - a staggering 70% decline in the first quarter and 50% in the second - appears to have abated with the fall season.*