Money Management Executive Latest News

Charles E. ("Ed") Haldeman, Jr. is the chairman and CEO of Delaware Investments of Philadelphia. Delaware, which has been a subsidiary of Lincoln Financial Group of Philadelphia since 1995, had $88 billion under management as of March 31. That includes $35 billion of insurance company assets, $30 billion in retail money and $23 billion of institutional assets. Haldeman joined Delaware as its new CEO in January, 2000, and was named chairman of the board earlier this year. He was previously president and chief operating officer of United Asset Management of Boston.

As the financial services industry moves toward meeting several Securities and Exchange Commission deadlines that loom, technology and software companies are beginning to come forward with solutions that may help fund companies reach those goals.

Fidelity Investments of Boston announced the appointment of two senior executives to its FundsNetwork business. Dale Bearden has joined Fidelity personal investments as senior vice president in charge of the FundsNetwork. He most recently was senior vice president and head of retirement services for John Hancock Funds of Boston. Terry Green will be vice president for FundsNetwork retail marketing and fund relationship management. He will report to Bearden. Green has worked with Fidelity's retail telephone investor sales and service unit. He most recently headed a group responsible for online and electronic services at the company. Fidelity Network held more than $180 billion in assets as of March 31.

While declining markets have diminished many fund companies' assets and revenues, the market conditions are a boon to many third party back-office service providers who are generating new business as funds outsource back office functions in an effort to cut costs, according to industry executives.

Morningstar of Chicago announced the results of a study that shows experienced mutual fund managers have fared better during the recent bear market than their less experienced counterparts.

American Century Investments of Kansas City, Mo. has named Robert C. Puff, Jr., 55, to the newly created post of chairman of the firm's investment management division. Puff, who has been president and chief investment officer, will assume his new role July 1.

The Vanguard Group of Malvern, Pa. won the Financial Communications Society of New York’s 2001 Portfolio Award for Best Corporate Image - Radio for its radio ad entitled “Past Performance,” FCS announced yesterday.

The number of workers saving for retirement has dropped since last year along with workers’ overall level of confidence in having a sufficient amount of money to retire comfortably, according to an annual survey issued today by the Employee Benefit Research Institute of Washington D.C.

Last year, money market mutual funds represented 37 percent of the cash sweep vehicle marketplace, making them almost as popular as more traditional overnight sweep products, according to a report released today by Treasury Strategies of Chicago, a strategic consulting firm.

Harvey Pitt has been selected by President Bush as the new chairman of the Securities and Exchange Commission, according to reports published today in The New York Times.