New Hire Roundup: Loring Ward Names Schwab’s Farasat CIO
Meanwhile, Peter Cai has become Global Atlantic Financial Group's chief risk officer.
PIMCO Replaced by TCW as Manager of $1.3 Billion Bond Strategy
The PIMCO Mortgage-Backed Securities Fund will be renamed TCW Core Plus Bond Fund. The decision was made before Mohamed El-Erian's departure, sources said.
New Hire Roundup: Obama Taps Massad as CFTC Chief
Meanwhile, SEC named Gaunt chief of enforcement division’s municipal securities and public pensions unit, Rob Jasminski joined Citi Private Bank and more.
New Hire Roundup: OppenheimerFunds Makes 3 Senior Hires
The PCAOB announced its new chief hearing officer, and Capstone Financial Group has hired Steve Lee to spearhead advisor recruitment and coaching.
Ameriprise Sued by Employees Over 401(k) Losses
In further controversy over the use of proprietary products, members of Ameriprise Financial Inc.'s 401(k) plan filed a proposed class action in Minnesota on Wednesday claiming they lost $20 million in investments.
Columbia Management Closes Purchase of Grail Advisors
At a special shareholder meeting on Friday, after shareholders had voted to approve a change in investment managers for all the ETFs formerly managed by Grail Advisors, ColumbiaManagement Investment Advisors, closed its acquisition of Grail effective at the close of business that day.
Allstate second insurer to turn down bailout
Allstate Corp. has become the second insurer to turn down a Treasury bailout. The company refused funding based on its reported strong capital and liquidity...
Mutual-fund fees cases could signal industry change
A federal court decision last week concerning mutual-fund fees could raise the stakes for investors and fund companies over standards of fairness. The Wall...
B/D Briefings News & Products
Ameriprise Financial, Inc. announced that it has completed its all-cash acquisition of H&R Block Financial Advisors from H&R Block. The more than 950 H&R Block...
Ameriprise Financial to Acquire Seligman
A definitive agreement has been reached between Ameriprise Financial, Inc. and J. & W. Seligman & Co., Inc. under which the Minneapolis-based financial services firm...