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To realize better synergies between people in its personal and workplace investing divisions, Fidelity is reshuffling about 1,000 staff members in four locations.
July 2 -
After postponing his retirement following the sale of Putnam Investments to Power Financial two years ago, Charles "Ed" Haldeman has stepped down from his positions as chairman of Putnam Investment Management, president of the Putnam Funds and member of Putnam Funds' board of trustees, Putnam said Tuesday.
June 30 -
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Fidelity Investments chief of technology and real estate operations, Marvin Adams, will be leaving the company, according to reports.
June 8 -
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Capital Group will cut 9% of its global workforce of 9,000, or 820 jobs, this month. This will be American Funds parent companys second round of layoffs, in response to a 29% decline in assets from $1.2 trillion to $850 billion. The company eliminated 500 jobs in January.
June 5 -
Credit Suisse has formed an investment strategies and solutions group, to be led by David Russ, the former chief investment officer of Dartmouth Colleges office of investments. The division will collaborate with the institutional distribution team.
June 2 -
Fidelity Investments promoted Abigail Johnson to chairman of the board of directors overseeing fixed income and asset allocation funds, yet another indication of the firms intention to eventually name the younger Johnson successor to her father, Edward C. Ned Johnson III, 78, as head of the company.
June 2 -
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Long-time Fidelity Investments and Geode Capital Management veteran Jacques P. Perold has been named chief operating officer, asset management of the firm.
May 22 -
John Hancock Financial has named James R. Boyle president, in charge of all of the companys core businesses, including long-term care insurance, variable annuities, 401(k)s, fixed products and mutual funds. He had been president of U.S. insurance.
May 22 -
Even though Fidelitys mutual funds are performing strongly, with 62% in the top half of their category, the firm is looking for a new chief investment officer, Reuters reports. By comparison, in 2008, only 36% of the firms funds were in the top half.
May 19 -
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Robert L. Reynolds loves a challenge. Without question, he certainly faces one. Trying to restore Putnam Investments' stature among America's top mutual fund companies after the firm's involvement in the trading scandal of 2003 and depletion of assets, now at $99 billion, a mere quarter of what they were in 2000-is a formidable task.
May 4 -
Principal Financial has laid off 75 people in asset management, most of them from its Des Moines headquarters.
May 1