Money Management Executive Latest News

Nuveen Investments has hired Michael McGrath as managing director in the company's newly formed International and Alternative Investment Products Development Group, the company announced.

Neuberger Berman has hired two new executives and an analyst for the Wealth Management Group of its Trust Companies. Ralph Sinsheimer has joined as senior VP and Stephen Wells has assumed the newly created position of COO. Both have most recently served as managing directors at OFFITBANK.

Kelmoore Investments has hired six outside wholesalers and another inside sales representative, bringing the total number of new hires for the firm to over 24 this year.

Funds offering affinity marketing programs need to have realistic expectations and exercise caution in how they offer such programs to investors, said Dennis Dolego, director of research for the Optima Group.

Domini Social Investments, one of the largest socially responsible fund groups, has expanded its partnership with a so-called environmentally friendly bank to provide community development loans, Domini announced this week.

INVESCO Funds Group has promoted Laura Parsons from VP of public relations to senior VP of corporate affairs. The new title will not affect Parson’s responsibilities, but reflect changes to the structure of INVESCO’s public relations unit, according to Ray Cunningham, president of INVESCO Funds Group.

"All parents have college problems, rich or poor," said Raymond Loewe, founder of College Money, a college savings consulting firm. But Lowe considers 529 plans overly complex vehicles that favor wealthy investors. Instead, he favors variable universal life policies.

Waddell & Reed Financial has found itself at the wrong end of a $27.6 million NASD artibration judgement. The firm was harshly criticized for intentionally slandering the reputation of Steven Sawtelle, a former representative, who was fired immediately after testifying to the Security and Exchange Commission regarding another Waddell & Reed employee. Waddell & Reed is planning to appeal the decision.

In effort to simplify the complexities of retirement planning for the growing Hispanic-American population, Ingham Group of Miami announced today that it has added interactive Spanish-language capabilities to its Web site.

Price, Product Management, Service and Technology Key, Study Says