Money Management Executive Latest News

Dow Jones Indexes announced today that it is officially publishing two new indexes which it will license to fund companies and other investment managers interested in building new products based on the benchmarks.

Peter Wuffli has replaced Lugman Arnold as president of UBS, just nine months after Arnold was named president, the firm announced today. The reason behind Arnold’s departure remains somewhat unclear.

Saying that it needed a "steady hand" during turbulent times, PriceWaterhouseCoopers today announced that it has appointed Samuel DiPiazza Jr. as its global CEO.

Back office firm Brown Brothers Harriman Foreign Exchange has added to its currency research team. Nick Bennenbroek joins the firm as assistant VP, reporting to Anne Parker Mills, senior VP and head of currency research.

At the height of the bull market, employee benefits packages were used to recruit new talent, but with massive layoffs occurring across the economy, those packages, including 401(k) benefits, are being trimmed.

While the poor economy has diminished companies' profitability, undoubtedly forcing many to reduce their rate of matching contributions, the matching contribution benefit is a bit of a sacred cow when it comes to employee benefits, Brambley said. Used as an incentive to increase and maintain plan participation, employers would be ill advised to eliminate their matching plans all together, she said.

Although the bear market is eating away at the estimated $1.8 trillion in assets held in 401(k) plans, those assets are generally more resilient to market volatility, making them highly prized by asset managers, observers say.

Funds' Message to Shareholders: It's Been a Tough Year

ING Direct's recent announcement that it would begin offering mutual funds has left analysts wondering what exactly the online bank has in mind.

While double digit returns are at the top of every fund executive's Christmas wish list, a more realistic gift option might be found at the local toy store. The real estate industry may have Monopoly, but the fund industry has Mutual Mania and Mutual Fundz, board games that offer executives and investors a sorely needed escape from the harsh realities of the bear market.