September 22, 2008
FRC Founder Bathon Forms New Company
Neil Bathon, who founded Financial Research Corp. in 1987, has now formed a new investment management research firm, FUSE Research Network. Bathon said the information he will provide investment management distributors will be "actionable."
"With FUSE, our goal is not to produce information, but to assist clients to enact change by providing implementation support based upon the insights we derive through our research efforts," Bathon said. "There are any number of providers who offer interesting data books and reports. Our research is designed to fill a higher spot on the value scale by delivering tangible, actionable guidance."
Joining Bathon in running the company is former FRC President Michael Evans. "I'm very pleased to be reconnecting with Neil at FUSE," Evans said. "The service offerings of FUSE will provide clients with the next generation of research support through the practical application of knowledge."
Curian Plans Expansion With 21 New Salespeople
Over the next several months, Curian Capital plans to hire 21 additional salespeople: 10 external wholesalers, 10 internal wholesalers and a divisional vice president overseeing them.
"The expansion of our sales team will allow us to keep pace with the number of new advisory relationships that Curian has entered into this year, and support the robust growth of the managed accounts industry as a whole," said Michael Bell, president and chief executive officer of Curian.
"We are seeing an increased demand for dedicated business consulting and practice management support, particularly as more financial professionals transition to advisory business," Bell continued. "We will continue to expand our distribution force in order to satisfy these demands and maintain a high level of personal service for our business partners."
SEC N.Y. Regional Head Schonfeld Joins Gibson
Mark Schonfeld, the high-profile New York regional director of the Securities and Exchange Commission, has left the SEC after 12 years of service to join Gibson Dunn as co-chair of the securities enforcement practice group. In this position, he will also work closely with the crisis management and white collar defense and investigations groups.
Before heading up the New York office, Schonfeld was co-head of the enforcement program in the Northeast Regional Office from 2001 to 2004. Before joining the SEC, Schonfeld worked in private practice in Boston.
"Mark will be a terrific addition to our securities enforcement team," said Ken Doran, managing partner at Gibson Dunn. "He enjoys an exceptional reputation among regulators and the financial community alike. Mark will be a tremendous resource for our clients facing an SEC investigation, an internal investigation or litigation involving securities issues."
Janus Manager Julian Pick Leaves Over Disagreement
Julian Pick, co-manager of two Janus Group international mutual funds, is leaving at the end of the month. Janus indicated that Pick is leaving due to "disagreement over development of a future product" and will be pursuing "other opportunities."
Janus has been hit with a number of high-profile departures in the past two years, with a tally of 16 fund managers leaving. Under the leadership of CEO Gary Black, portfolios are managed by teams rather than by single managers, and some may be protesting the way they are compensated. Pick had been with Janus for the past 10 years and had a solid track record.
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