Money Management Executive Latest News

The site now includes educational and sales materials, industry news and detailed information on plans that they serve.

Dreyfus Corp.'s separately managed accounts have grown about 56% since the beginning of the year, as the New York asset manager has seen assets flow into these products from mutual funds, annuities and other investment vehicles.

The combined wealth of the world's high-net-worth individuals rose nearly 3% to $26.2 trillion in 2001, according to the 2002 World Wealth Report recently published by Merrill Lynch and Cap Gemini Ernst & Young. The report defines high-net-worth individuals as those with financial assets of at least $1 million, excluding real estate.

Dreyfus Service Corp., distributor of the Dreyfus Funds, has named Matthew Schiffman executive vice president and national sales manager. In his new position, Schiffman will oversee all distribution channels, including wirehouses, banks, registered investment advisers and independent financial planners.

Barclays Global Investors (BGI), the asset management unit of Barclays Bank, has appointed Blake Grossman and Andrew Skirton as co-global CEOs, replacing Patricia Dunn, who is stepping down from that position for health reasons.

AMCORE Financial, parent company of AMCORE Investment Group and the Vintage Funds family of mutual funds, has named Kenneth Edge CEO of the firm. He takes over for Robert Meuleman, who had been serving as chairman and CEO. Meuleman will continue in his role as chairman until his retirement at the end of the year.

Kinetics Asset Management, investment advisor to Kinetics Mutual Funds, announced last week that it had promoted both Arthur Hoyt, Jr. and Christopher Bell to senior vice president, director of sales and marketing at KBD Securities, a Kinetics affiliate.

GE Financial has hired three regional vice presidents to market mutual funds, variable annuities and variable life. They are Jason Petrie, Bruce Stewart and Jay Whitaker.

Harris Associates L.P. said this week that it has launched a new Web site that is available only to consultants and other professionals working in the institutional marketplace.

In a letter earlier this week, the Investment Company Institute supported the Securities Exchange Commission’s proposal to amend Form8-K under the Securities Exchange Act of 1934, but suggested that several changes be made.