Asset Managers
The latest news on top asset managers, including updates on mergers and acquisitions, as well as new investment strategies and fund offerings.
JPMorgan Builds Unit for the Super Rich
By Ben StupplesThe unit, called 23 Wall, doesn't have a minimum wealth threshold, but it clearly caters to the richest 0.01%.
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.
May 26, 2023
Cathie Wood's ARKK Dumped Nvidia Stock Before $560B SurgeNvidia "has been very good to her. She was into the stock before it was cool," said ETF analyst Eric Balchunas of Bloomberg Intelligence.
May 25, 2023
JPMorgan Jettisons 1,000 First Republic EmployeesThe biggest U.S. bank on Thursday offered full-time or transitional roles to almost 85% of the nearly 7,000 employees
May 25, 2023
MetLife, Prudential Close $29.2B in Life and Annuity Reinsurance DealsThe issuers say they'll continue to service the products involved and that the deals won't significantly affect customers.
May 25, 2023
Ex-Morgan Stanley Advisor Gets 7 Years for Fleecing ClientsShawn Edward Good took in $7.2 million from at least 13 victims thorough his decade-long Ponzi scheme.
May 24, 2023
Ritholtz Wealth Launches New Robo Wealth ManagerThe new service, Good Advice, has a minimum investment level of $15,000.