Money Management Executive Latest News

Robert Tousignant, a former Phoenix Investment Partners and Fidelity Investments executive, has been hired by Federated Investors to lead the firm's efforts to expand it's managed account sales.

Eaton Vance Distributors has hired three regional directors and three internal wholesalers for its managed account sales and marketing group. Last year, Eaton Vance Corp. began an initiative to dramatically grow its separately managed account business. Last September, it acquired Fox Asset Management and Atlanta Capital Management Co., both of which serve that market.

Online retirement plan provider GoldK's COO has resigned and will likely start his own consulting firm in the Boston area, the company said.

Neuberger Berman has hired Marvin Demoff as the managing director of its asset management group that handles investments for professional athletes.

Federated Investments has hired Keith Schappert, a longtime J.P. Morgan executive, to lead its investment management operations.

Responding to declines in its direct mutual fund business, Janus said it has cut 222 jobs in its Denver retail shareholder servicing department. None of the firm’s investment management staff were affected by the cuts.

Prudential Financial is entering Mexico’s private pension management industry through a joint venture in which it will have acquire slightly less than 50% in the nation’s ninth largest private pension manager, the company announced.

AIM Private Asset Management, the managed account subsidiary of AIM Management Group, has won distribution for all eight of its portfolios through Wells Fargo, the company announced today.

When Peter "Tony" Guernsey was approached in 1997 by an executive search firm to open a wealth management unit in New York for Wilmington Trust Corp., he was skeptical.

In yet another death of a dot-com fund complex, the Van Ness Funds yesterday filed with the Securities and Exchange Commission to liquidate all five of its index funds. The funds were distributed through Whatifi.com, an online financial services firm, which targeted younger investors with the funds and financial planning advice.