A number of
Whereas Janus used to hire young people fresh out of school and indoctrinate them in an aggressive growth school of investing, the company has since hired far more seasoned and experienced professionals. Also, in the 1990s, Janus funds were concentrated in a mere 500 stocks. Today, that universe has expanded to 1,400 and includes value as well as growth stocks.
Still, many of the funds were overexposed to debt and too highly concentrated, which hurt performance in 2008.
Terri Kallsen will precede him next year as chair of the Board of Directors; Seay will take over that role in 2027.
The popular industry recruiting and retention barometer provided another window into the challenges facing LPL Financial with its latest major acquisition.
The Wall Street powerhouse has built its wealth division in large part through big deals but is not "looking to make acquisitions just for the sake of it, " said CEO Ted Pick.
But the Bank of America subsidiaries nonetheless reported rises in AUM and net revenue in the second quarter while adding thousands of new client relationships.
The accusations led to the end of 16 years at the firm.
In an earnings call Tuesday, CEO Charlie Scharf credited brokers in the firm's branches for working with consumer bankers for a 10% increase in new assets.
