Money Management Executive Latest News

For Clemente, resigning as the sub-advisor to the Citizen's fund just made sense, said Alfredo Viegas, managing director of Clemente. Viegas, a hedge fund manager and the former manager of the Lexington Emerging Market Fund signed on this past July to lead Clemente's entrance into the non-U.S. hedge fund business.

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:

Jeffrey Peek has stepped down from his post as president of Merrill Lynch Investment Managers after four years in that position and 18 years with the firm.

Underscoring its intentions to continue expanding globally, Lipper said last week that Michael Peace, managing director of the fund researcher's Asia operations, will oversee the firm's multinational operations as its new CEO.

AmSouth Bank of Birmingham, Ala., has hired Joseph Keating to fill its newly created position of head of asset management, the company said last week.

Villanova Capital, the U.S. asset management unit of Nationwide Financial Services, and Gartmore Investment Management have named Young Chin CIO of the U.S. arm of their global investment platform.

Rydex Funds has always looked to leverage the Internet for its business. So it should come as no surprise that the latest overhaul of its site for financial planners also paves the way for a focus on the independent broker/dealer.

In an effort to attract middle-income consumers to its retirement planning products and services, Allstate Financial Group today launched new, basic banking services throughout its California agencies.

American Express Financial today added two new international equity funds to its line up of sub-advised funds and named American Century, Liberty Wanger Asset Management and Alliance Capital as sub-advisors.

Following Deutsche Bank’s acquisition of Zurich Scudder Investments, Deutsche Asset Management, will drop the Deutsche brand from its line of retail funds and use the Scudder name to market those funds, a company spokeswoman said.