Money Management Executive Latest News

Hotchkis and Wiley, the Los Angeles-based asset manager that split off from Merrill Lynch's Mercury Funds earlier this year, said that it has hired one of Mercury Funds' sales managers.

Names New CEO

Eaton Vance Distributors has announced three new additions to its managed account sales and marketing group.

Neuberger Berman announced last week that it has named Albert Bellas CEO and Stephen Wells president of Neuberger Berman Trust Company and Neuberger Berman Trust Company of Delaware. The trust companies offer wealth management services to high-net-worth investors, employee benefit plans, family offices, foundations and charities.

Frank Russell Co. has hired Donald Gartlan to run its managed account business.

The Bingaman bill takes a different approach to making retirement advice more available to employees. It would provide "safe harbor" to plan sponsors that are concerned about being held liable for bad investment advice, a key reason why they don't offer such advice now. Supporters, such as the AARP, say the bill is a better option than that passed by the House because it includes measures that prevent conflicts of interest or self-dealing. The AARP worked with Bingaman to craft that bill, said David Certner, the organization's director of economic issues, mostly because, like Invesmart, which has lobbied against the Bingaman bill, is concerned about the possibility of conflicts of interest.

Neal Arnold has been named CFO of Fifth Third Bank Investment Advisors, the wealth management arm of Fifth Third Bancorp, the company announced today.

Florida’s State Board of Administration is recommending Prudential Financial, Fidelity Investments and Nationwide Financial as providers of bundled investment services and products to the state’s new defined contribution pension plan, which is scheduled to launch in March.

The pension reform bill signed into law earlier this year will open up a new customer base for retirement plans: companies with no employees.

Calvert Foundation today announced the launch of Giving Folios, a platform of independent research geared toward donor programs. Giving Folios will provide analysis on charities from experts around the country, according to Calvert.