Money Management Executive Latest News

Asset management firms are working to create an entire culture of risk management that discounts historical trends and tools, embraces even the most outlandish outlying possibilities and includes counterparty risk.

Volatile equities markets and heightened EU sovereign credit risk during the second quarter of 2010 have drawn significant attention to mutual fund performance. Beyond the challenges posed by the current market environment, mutual fund managers are also contending with a variety of strategic, operational and tactical changes that are reshaping their firms and the industry as a whole. Three key areas that should be firmly in their sights are:

The mystery of why America continues to rely on foreign oil and contaminate its environment-and subsequently why the green industry holds the promise of becoming a $6 trillion market but remains speculative, volatile and fragmented-is answered in the intriguing book, "The Climate War: True Believers, Power Brokers and the Fight to Save the Earth" (Eric Pooley, Hyperion, 2010).

Ben Woloshin has joined New York Life as head of relationship management for retirement income security (RIS), reporting to Executive Vice President Chris Blunt. Woloshin was previously with Goldman Sachs as vice president in the reinsurance group, responsible for institutional relationships.

With investors still worried about the state of the economy and fairness of markets, fund companies have redirected much of their public relations efforts at stressing the benefits of long-term investing, showcasing the expert opinions of their investment managers and stripping the varnish off spin.

Want to make sure a trade made by your sub-advisor does not get you in trouble with the Securities and Exchange Commission?

The Shanghai Stock Exchange will create exchange-traded funds based on depositary indices maintained by BNY Mellon.

On the heels of its $4.9 billion acquisition of Hewitt Associates, Chicago-based Aon Corp. announced a three-year restructuring plan centered on eliminating 1,500 to 1,800 jobs, which it expects will save the company $280 million annually.

Fidelity, a year after creating a dedicated transition management group, Fidelity Capital Markets, has appointed Kevin Byrne to lead the growing practice.

Charles Schwab's adviser-managed assets increased 8% year-over-year in the third quarter to $609.9 billion.