Money Management Executive Latest News

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

How do you start distributing a whole new product line after you’ve just cut 10% of your wholesaling staff? According to Alex MacGillivray, president and CEO of Equitable Distributors Inc., it’s all part of the plan.

American Express Financial Corp. said today that it has filed for three new fund offerings with the Securities and Exchange Commission.

Waddell & Reed Financial announced today that its COO, Robert Hechler, will retire at the end of the year. Hechler, who turns 65 this month, has been with the firm since 1968 when he joined as treasurer.

Phoenix Investment Partners has signed an agreement to acquire a majority interest in Los Angeles-based Kayne Anderson Rudnick Investment Management, LLC. The addition supports Phoenix’s managed account growth strategy, according to the company.

INVESCO Funds Group of Denver has begun offering investors electronic delivery of fund and account documentation, saying e-delivery is a "safer" alternative to regular mail delivery, it announced today.

Ron Muhlenkamp, manager of the $500 million Muhlenkamp Fund and founder of Muhlenkamp & Company has hired Celeste Zingarelli as the firm’s new director of marketing, the company announced today.

The latest statistics are pointing to a saving grace within the economy’s shaky markets -- automatic contributions into 401(k) plans. And experts say that the market downturn would be much worse without them.

Shaker Investments of Cleveland, Ohio has named Donna Thrane VP of client services.

Investec USA Holdings, part of the Investec Group, announced today that it has hired David Rappaport as general counsel. Rappaport will be responsible for legal and compliance services for Investec’s U.S.-based divisions, Investec Asset Management, Investec PMG Capital Corp. and Investec Ernst & Co.