Money Management Executive Latest News

Mercantile Bankshares Corp. of Baltimore has decided that selling hedge funds both to its customers and through other banks in the eastern United States could key expansion beyond its tristate operating area.

Morgan Stanley has filed a registration statement for a new biotech fund with the Securities and Exchange Commission.

Piedmont, Calif.-based Quintara Capital Management has launched a small-cap value fund that will compensate its sub-advisors based on how well they perform compared to the Russell 2000 Value Index.

OppenheimerFunds will test the appetite of retail investors for hedge funds. The firm’s two new products, the Oppenheimer Tremont Market Neutral Fund and the Oppenheimer Tremont Opportunity Fund, are multi-manager hedge funds geared toward retail investors.

Turner Investment Distributors will begin serving as sub-distributor for the C&B Portfolios, Cooke & Bieler announced today. The three C&B funds, which currently hold about $55 million, are already distributed by SEI Investments Distribution Co.

Prudential Financial has appointed Joseph D’Onofrio as managing director for its European subsidiary, Prudential International Investments Financial. He will also serve as deputy managing director of BPB Prumerica Global Investments SGR, which is an Italian joint venture with Banca Popolare di Bergamo Credito Varesino.

Los Angeles-based financial holding company Metropolitan West Financial has hired Robert Shustak as its CEO. He is expected to begin work at the company in March.

The Enron collapse and subsequent focus on 401(k) advisory services is prompting a boom in online resources that could help advisers build sales and improve due diligence.

Nationwide Financial is looking to reverse a downward spiral in its variable annuity sales through banks with a product launched on Valentine's Day.

Northwestern Mutual has created Mason Street Advisors, LLC, a wholly owned subsidiary that is intended to boost the company’s image in the investment management arena. Mark Doll, senior VP of the public markets division at Northwestern Mutual, has assumed the post of president of Mason Street Advisors.