Asset Managers
The latest news on top asset managers, including updates on mergers and acquisitions, as well as new investment strategies and fund offerings.
SEC Sues Binance and CEO for Breaking Securities Rules
By Austin Weinstein, Lydia Beyoud & Allyson Versprille"Through 13 charges, we allege that Zhao and Binance entities engaged in an extensive web of deception ... and calculated evasion of the law," said SEC Chair Gary Gensler.
May 31, 2023
Franklin Templeton to Buy PutnamFranklin, which managed $1.4 trillion in April, has been on a deal spree — buying two alternative-asset managers over the past two years.
May 30, 2023
Goldman Planning Another Round of Job CutsThe move comes a few months after the bank had one of its biggest rounds of job cuts ever: 3,200 positions were trimmed in January.
May 30, 2023
JPMorgan Builds Unit for the Super RichThe unit, called 23 Wall, doesn't have a minimum wealth threshold, but it clearly caters to the richest 0.01%.
May 26, 2023
Vanguard Fined $800K Over Statement ErrorsA glitch led to overstatements related to nine money market funds on 8.5 million account statements, FINRA says.
May 26, 2023
Cathie Wood Defends ARKK's Move to Dump NvidiaWood's flagship ARK Innovation ETF has climbed 25% so far this year, outpacing the S&P 500's 9.4% gain.
May 26, 2023
Wellington Cuts 5% of WorkforceThe news comes four months after industry giant BlackRock said it would trim 500 jobs, representing about 2.5% of its workforce.
May 26, 2023
Vanguard Changes Managers, Plans Fee Hike on 2 Stock FundsThe changes affect the Vanguard Growth and Income Fund and U.S. Growth Fund.