McCulleys exit further reduces the ranks of Gross loyalists in the wake of his abrupt departure Sept. 26 to manage a small fund at Janus Capital Group Inc. Pimcos new management and investment team are seeking to reassure clients after a year of record redemptions and co-chief investment officers Gross and Mohamed El-Erian left.
Seeking to bolster its team after co-founder Bill Gross left last year, Pimco announced it hired Joachim Fels as global economic adviser.
The top regulator of mutual funds, private equity and hedge funds at the U.S. Securities and Exchange Commission will step down later this month.
Landing a leadership role in the financial industry takes years of experience and an impressive resume. But it also takes poise, polish and the ability to captivate a room. Think of it as stage presence for the business world.
Eric R. Ervin didn't take long to make a decision to leave Morgan Stanley and co-found San Diego, Calif.,-based ETF provider Reality Shares. Ervin recounts some of the challenges that he faced from the beginning of the venture and how he was able to overcome his self-doubts.
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.