Money Management Executive Latest News

Russell Investments and Axioma have launched a series of long-only large- and small-cap factor indexes designed to help investors better manage their portfolio’s exposure to five risk factors.

The Financial Industry Regulatory Authority fined Chicago-based Nuveen Investments $3 million for creating and distributing misleading brochures to promote the sale of auction rate preferred securities.

J.P. Morgan Asset Management has hired Benji Baer as managing director and chief marketing officer, reporting to Richard Chambers, chief marketing officer for J.P. Morgan Investment Management Americas. Baer will also serve as a member of the senior management team for Michael Falcon, head of retirement for J.P. Morgan Asset Management.

Although the unemployment rate in the U.S. is 9%, three-quarters of broker-dealers and registered investment advisors plan to hire in the next 12 months, and they plan to boost their staff by an average of 30%, Fidelity Investments found in a survey.

College graduates who applied sound planning with following their passions had a much more satisfying college experience—and less debt—than those who did not, according to a study from Fidelity Investments.

IndexIQ has launched the IQ Hong Kong Small Cap ETF, which it says it the first exchange-traded fund to focus on the sector. It will track the IQ Hong Kong Small Cap Index.

FINRA has launched FINRA Disciplinary Actions Online, a searchable system that will give the public access to disciplinary actions for firms and registered representatives. It also adds another layer of transparency into the brokerage and financial advisory industry, on a firm and individual level.

Information on the original cost basis of stocks purchased by investors can now be transferred automatically in roughly 97% of cases.

The average pay in 2010 for the chief executive of a Standard & Poor's 500 company was $11.4 million.

Sean Foley has been promoted at fund administrator Butterfield Fulcrum and wealth management reporting firm FORS Limited to chief financial officer and chief administration officer.