Money Management Executive Latest News

Nasdaq Stock Market, Inc. said yesterday that it has appointed Phil Marie to oversee its technology and infrastructure operations, including the company’s main Web site, nasdaq.com.

INVESCO Institutional, the North American institutional division of AMVESCAP, said today that it has named a new head of sales and marketing and a new head of the firm’s third-party distribution.

Pamela Moret, CEO of IDS Life Insurance Co., a subsidiary of American Express Financial Corp., is leaving the company in January after nearly 20 years with the Minneapolis, Minn.-based firm.

On the heels of announcing last month that it would add loads to the majority of its products and sell mostly through intermediaries, INVESCO has filed with the Securities and Exchange Commission to contract its sister company, AIM, to sub-advise three money market funds.

A Milwaukee-based law firm has initiated an investigation into Van Wagoner's fair pricing procedures with regard to its Emerging Growth Fund. The announcement was made late yesterday, the same day that The Wall Street Journal published an article about the unusual pricing of that particular fund.

Federated Investors said today that it has completed the acquisition of $148 million in assets from a family of three mutual funds that had been distributed by Lincoln Investment Planning and Rightime Econometrics.

In a prospectus supplement filed today with the Securities and Exchange Commission, Conseco revealed some changes to its Advantage Plus Fixed and Variable Annuity, including possibly replacing Janus and Berger Funds in the portfolio.

The board of directors for North Track Funds approved a plan yesterday to merge the assets of its Achievers Fund into the firm’s S&P 100 Plus Fund, according to a filing with the Securities and Exchange Commission.

Individual retirement accounts are "central" to repairing the Social Security system, a presidential commission has concluded in a final report, which says that private investments would allow workers to "build substantial wealth" and gain control over their financial destiny.

USAA can attest to the fact that insurance is getting expensive these days. The firm has opted to drop default insurance on its money market fund in light of rate hikes brought on by the Sept. 11 terrorist attacks.