Money Management Executive Latest News

Bank of America Asset Management Group has named Robert Morgenthau, the former head of the high-net-worth group and global marketing for Lazard Asset Management, as president of the firm's private advisory services unit, which caters to wealthy investors.

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

T. Rowe Price, the mutual fund firm based in Baltimore, has laid off about 180 workers, Reuters reported today.

Seattle-based insurance and investment provider SAFECO said today that it will offer two new growth funds.

Putnam Investments is adding a contingent deferred sales charge and redemption fees to three of its international funds in a move to stave off market timers, according to a company SEC filing.

The Internet has propelled 401(k) plans out of the "dark ages," opening the door to a largely untapped $1.2 trillion in assets in the small business market, according to a study by Celent Communications.

SunAmerica has launched a focused international fund that takes the ten top stock picks from each of three different managers. The Focused International Portfolio leans towards large cap companies but invests in all capitalization sizes of firms in developed markets outside the U.S.

Investment companies are approaching some key dates to meet SEC requirements, passed early this year, for the calculation and release of after-tax data on mutual funds.

A U.S. Court of Appeals upheld a lower court’s decision this week that the Vanguard Group cannot use the Standard & Poor’s trademark in conjunction with its VIPER share classes.

Money market fund assets dropped to $2.267 trillion for the week ending Wednesday, Oct. 31, down $10.58 billion for the same period the prior week, according to the Investment Company Institute.