Bill Grosss exit unleashed a crisis that Pimco is still trying to contain. His departure was followed by record withdrawals from the mutual fund he once ran, and which he built into the worlds biggest.
Mohamed El-Erian, who quit Pacific Investment Management in January amid reports of clashes with Bill Gross, said he was surprised by the events surrounding the departure of the star bond manager last week.
Charles Schwab removed Pacific Investment Management from its target-date retirement funds after the departure of Pimco co-founder Bill Gross.
From news of ETFs and ETPs rebounding in March to BlackRock shaking up leadership, here's top news impacting mutual fund and ETF managers and providers.
Eaton Vance Corp., the money manager known for its focus on tax-efficient investing, appointed Goldman Sachs Group Inc. executive Edward J. Perkin as chief equity investment officer.
Goldman Sachs Asset Management (GSAM) announced it has entered into an agreement with Deutsche Asset & Wealth Management (DeAWM) to acquire DeAWM's stable value business, with total assets under supervision of $21.6 billion as of June 30, 2013
Securities and Exchange Commission Chair Mary Jo White met with leaders of the equities and options exchanges, FINRA, DTCC and the Options Clearing Corporation following the August 22 interruption in the trading of NASDAQ-listed securities.
Goldman Sachs will replace Bank of America Corp., Visa will replace Hewlett-Packard and Nike will replace Alcoa in the Dow Jones Industrial Average (DJIA) after the close of trading on Friday, September 20.
The 50 largest asset managers accounted for more than US$38 trillion in assets under management at the end of 2012. This is a full US$4 trillion more than the year before, even as the biggest firms in the industry continue to enlarge, according to The Cerulli Report: Global Markets 2013.
Best known as the first woman to own a seat on the New York Stock Exchange and the first to head one of its member firms, Muriel F. "Mickie" Siebert died of complications from cancer on August 24 at the age of 80.