Money Management Executive Latest News

Throughout 2001 asset management firms have been developing or expanding their managed account platforms in a number of ways. In July, Eaton Vance agreed to buy 80% of Fox Asset Management for $62 million in an effort to broaden the company's managed account product line. Last month, New York Life Investment Management acquired QED Investments LLC, which gives the firm an additional $650 million in assets under management, but more importantly, a developed managed account product line.

Allianz Dresdner Asset Management, the Allianz Group's U.S. money management arm, has hired John Maney as its new U.S. CFO, replacing Robert Fitzgerald, who is leaving the firm in order to "spend more time with his family and pursue personal interests," according to a company announcement.

State Street Corp. has hired Darla Hastings to fill the position of head of corporate marketing.

Sue Curran signed on with Boston-based Fidelity Management Trust Co. as a senior VP and relationship manager, a newly created position.

Hartford Life's life insurance company will have a new president when it rings in the New Year. Lon Smith has announced his retirement and will be succeeded by Thomas Marra. Marra, currently COO, will retain that title in addition to taking the helm.

CDC IXIS Asset Management Intermediary Services has promoted Robert Krantz to senior VP, marketing and operations. The unit assists affiliated managers in marketing and servicing their products in multiple distribution channels, such as retail fund supermarkets, defined contribution plans, and variable products.

Recently, American Skandia underwent an executive reorganization that resulted in the elimination of three positions and coincided with the retirement of Gordon Boronow, deputy CEO.

GE Financial Services has hired Chris Moore as regional VP in the Southern California and Hawaii territory. Moore most recently comes from Lincoln Financial Distributors.

MFMarketnews.com is keeping abreast of the industry's latest developments with postings twice a day. If you didn't log on last week here are some Web exclusives you missed:

Feeling the pinch from the drop off in the tech and Internet sectors, Munder Capital Management of Birmingham, Mich., laid off 31 employees last week, according to a company spokesperson.