Money Management Executive Latest News

KBW Asset Management (KBWAM), a New York-based affiliate of Keefe, Bruyette, and Woods, has announced two new appointments. KBWAM is an investment advisor that specializes in the financial services sector and primarily serves institutions and high-net-worth individuals.

ALPS Mutual Fund Services has promoted Traci Thelen to general counsel. Thelen replaces Russell Burke, who left the company to pursue a career path outside of legal affairs at Merrill Lynch, according to a company spokeswoman.

Prudential Financial said last week that it has promoted Mike Casalvieri to vice president and head of the firm's platform marketing team. The department develops specifically targeted marketing campaigns to various multicultural customer groups.

The number of high-net-worth investors making financial decisions on their own has decreased to 45% from 51% in 2001 and 53% in 2000, according to a survey released today commissioned by Phoenix Investments. Harris Interactive conducted the survey in March by interviewing 1,649 adults with a net worth of $1 million or more.

As of the end of May, more than 500 credit unions have signed on to FOLIOfn's Member Folio Investing program since it was first offered a year ago.

Citizens Funds, the socially responsible family of funds, has filed shareholder resolutions at Microsoft and Cisco Systems about fees paid to the firms’ auditors.

Tom Baily, who founded mutual fund giant Janus in 1969, will step down as president and CEO of the company July 1, the firm said today.

Fund administrator BISYS has entered the 529 college savings market with its first contract with One Group Administrative Services, a subsidiary of Bank One Corp. BISYS will provide accounting services for Bank One’s One Group of Mutual Funds CollegeChoice 529 Investment Plan in the state of Indiana. The plan has 8,000 participants with $47 million in assets.

The American Stock Exchange has selected Iverson Financial Systems to provide ETF portfolio composition information, or information on shares that have to be created or redeemed, to Amex member firms.

Fidelity Investments and Monster will create a co-branded Web site accessible directly from Monster.com to help people changing jobs assess their options for managing their 401(k), 403(b) or 457 retirement savings plans. The site will also contain step-be-step instructions for consolidating workplace retirement savings plans or rolling them over to an IRA.