Investment News articles from December 2007

Investment News archives from December 2007

Leveraging clients to get new ones; To do that, ask for referrals with confidence and be sure to customize the approach to each client.(Practice Management)
December 3, 2007... Byline: David J. Mullen Jr. The most efficient and effective marketing you can do is to leverage your existing clients to get new ones. This gives experienced advisers a real advantage. However, many experienced advisers miss this...

Time for an assault on golden parachutes; Editorial.(Viewpoint)(Editorial)
December 3, 2007... It's time for all investors, institutional and individual, to tell boards of directors: "We're mad as hell, and we're not going to take it anymore!'' That is, investors must make boards understand they will no longer pay failed executives...

Firms to FINRA: Let's pool investor education efforts; One rep mounts crusade to get planners included in the dialogue.(News)
December 3, 2007... Byline: Bruce Kelly The Financial Industry Regulatory Authority Inc. launched a new drive last month in its campaign to educate baby boomers about retirement, but the way it is handling its mission to educate investors raises some...

Mike Cy, the investment guy, joins annuity and life marketing group.(Short Interests)
December 3, 2007... Byline: Darla Mercado Creative Marketing International Corp. has brought in Mike "Cy'' Cajthaml as senior vice president of the firm's elite producer group, Tailor Made Services. He will semi-retire from his Illinois financial planning...

Widows more confident than other women in managing money; Two-thirds in survey rate themselves highly.(News)(Survey)
December 3, 2007... Byline: Charles Paikert Widows have more confidence than other women about managing their money, according to new research on women's investing habits. Nearly 65% of widows responding to the annual "Women and Investing'' survey...

Hayden, planning pioneer, has a new trail to blaze; Sale of his advisory firm to a bank may bring toughest challenge.(News)
December 3, 2007... Byline: Charles Paikert Vern Hayden, a financial planning pioneer, has seen just about everything in his 40-year career, but the toughest part may be yet to come. Last month, he sold his investment advisory firm, Hayden Financial...

New Form 5500 implementation eats time and money; Improves transparency of 401(k) fees but may face fine-tuning.(News)
December 3, 2007... Byline: Lisa Shidler The unveiling of the revised Internal Revenue Service Form 5500 comes with both relief and trepidation. The form promises to improve the transparency of 401(k) plan fees but will be costly and time-consuming to...

XBRL plan a win-win for industry, investors; Just thinking.(Viewpoint)
December 3, 2007... Byline: Jim Pavia No one can accuse Christopher Cox of being a neophyte when it comes to technology. Led by its chairman, the Securities and Exchange Commission recognizes that there are ways to give greater access to financial information...

FundQuest to blend active and passive strategies; Hybrid approach will rely heavily on firm's research.(News)
December 3, 2007... Byline: Sue Asci FundQuest plans to launch several mutual funds based on in-house research to create active and passive strategies within a single portfolio - a first for the mutual fund industry. "Their approach to [investing] sounds...

Legg Mason stumbles; Stock and bond funds bled $3.6 billion during first nine months of this year.(News)
December 3, 2007... Byline: Sue Asci These days, Legg Mason Inc. is a bit weak in the knees. The Baltimore-based mutual fund company, which acquired the money-management group of New York's Citigroup Inc. last year, is battling significant outflows of...

Industry IT spending may outpace others'; Amid economic woes, subprime fiasco, budgets of financial firms projected to rise 7.1% in '08.(News)
December 3, 2007... Byline: Davis Janowski While spending on technology in the financial-services sector won't reach double-digit growth next year, it's likely to outpace growth in spending by many other big sector groups. Banking and other...

Buying opportunities seen as bond spreads widen; Volatility pushes corporates' premiums to four-year highs.(News)
December 3, 2007... Byline: David Hoffman Bond spreads have reached levels not seen since 2003, which is bad news for those holding bonds but good news for those looking to buy. That's because wider bond spreads mean lower prices and higher yields. ...

Fitness and friends bigger concerns than money, survey finds; It ranks third as a New Year's resolution.(News)
December 3, 2007... Byline: Aaron Siegel Crude-oil prices may be skyrocketing, the dollar plummeting and housing sinking, but money matters will be of great importance to only 17% of Americans when they make their New Year's resolutions for 2008, according to...

Savvy Ladies group plans expansion to all 50 states; Local chapters, described as `empowerment circles,' seek to give women financial tools.(News)
December 3, 2007... Byline: Charles Paikert Savvy Ladies is going national. The New York-based financial-education group for women opened local chapters in White Plains and Rochester, N.Y., last month and plans another in Rockledge, Fla., next month - the...

Closing quote.(Short Interests)
December 3, 2007... "Bill Miller is out of sync. He had a halo effect on the entire Legg Mason operation.'' -Burton Greenwald, mutual fund consultant, on the recent difficulties of the star manager and the Baltimore firm. Page 49

Building retirement income confidence; Working with retirees will require a mix of software and softer tools.(Retirement Watch)
December 3, 2007... Byline: David Macchia Many of the retirement income solutions currently being developed by financial services companies involve software - most of which is designed to model financial outcomes once someone has retired. But software,...

Remember, there's no such thing as a free lunch; Other voices.(Viewpoint)
December 3, 2007... Byline: Joseph Borg If you are over 50, you have probably received an unsolicited invitation to attend an educational financial seminar where you will enjoy a free gourmet lunch or dinner while getting tips on how to earn excellent returns...

Bailed-out E*Trade could still merge; Discount broker's now in better position, industry expert says.(News)
December 3, 2007... Byline: Bruce Kelly Last week's $2.5 billion cash infusion from affiliates of Citadel Investment Group puts E*Trade Financial Corp. of New York in a better position to continue going it alone or negotiating a more favorable takeover deal,...

S&P has high hopes for MarketScope Advisor; The online application will eventually replace Advisor Insight Web.(Tech Tips)
December 3, 2007... Byline: Davis D. Janowski Standard & Poor's MarketScope Advisor is a beautifully designed, intuitive online application that is meant to serve as a financial adviser's central source of real-time stock analysis, equity research, strategic...

Sigma compliance officer faces molestation charges; Two accusers allege that Michael John Brooks assaulted them over a 12-year span.(News)
December 3, 2007... Byline: Jeff Benjamin Michael John Brooks, chief compliance officer at Sigma Financial Corp. in Ann Arbor, Mich., is facing child molestation charges. Mr. Brooks was arrested in Amelia Island, Fla., Nov. 2, according to Dave Egeler,...

SEC scrutinizes firms' use of 'off the shelf' compliance; Too often, newer advisers think one size fits all, it says.(News)
December 3, 2007... Byline: Sara Hansard Advisers who purchase "off the shelf'' compliance programs to meet more-rigorous regulatory requirements must be careful to tailor the programs to their own operations - or risk the consequences. "We do see...

IN events.(Short Interests)
December 3, 2007... Dec. 11 Meet the Portfolio Manager Webcast Register to listen to our editors talk to portfolio managers about their economic outlook, stock selection criteria, favorite stocks and more. Guest: Bruce Berkowitz, president of Fairholme Capital...

The week ahead.(Short Interests)(Calendar)
December 3, 2007... Dec. 3: The Institute for Supply Management's manufacturing data for November is slated for release at 10 a.m. ET. Financial Markets World holds a one-day training seminar on securities valuation in New York. Dec. 4: The three-day 10th...

SEC revisits effort to track links to terrorism; Seeks online comments to flag companies tied to terrorist states.(News)
December 3, 2007... Byline: Sue Asci The Securities and Exchange Commission once again is considering whether to create a mechanism on its website that would provide investors with a list of companies involved in countries designated as "state sponsors of...

ICI is likely to prevail in its effort to end ETNs' tax break; Considers the advantage unfair to mutual fund shareholders and is lobbying for change.(News)
December 3, 2007... Byline: David Hoffman The Investment Company Institute, the powerful mouthpiece of the mutual fund industry, is trying to torpedo the tax advantages of exchange traded notes, and industry insiders think that it has a pretty good chance of...

Clients asking for a world of trouble? Herd behavior may be driving hunger for international investments.(News)
December 3, 2007... Byline: Jeff Benjamin No matter which way you turn, there appears to be a solid case for investing outside the United States, and for some advisers it's just a matter of how much and for how long. "Five years ago my balanced portfolio...

Retirees and pre-retirees satisfied with advisers; Nearly a quarter let professionals make most decisions.(News)
December 3, 2007... Byline: Lisa Shidler Pre-retirees and retirees are happy with their financial advisers, and nearly a quarter rely on their adviser to make most investment decisions. Those are the highlights of a telephone and online survey conducted...

Volatility in private equity expected to continue; But big changes may lie ahead, conferees are told.(News)
December 3, 2007... Byline: Sara Hansard Private-equity funds will continue to go through the same boom-and-bust cycles they have in the past, but the larger size of some of the funds and changes in the way managers are paid may alter the nature of the...

Regulatory reform: A debate over how; Treasury receives responses calling for consolidation of regulators.(News)
December 3, 2007... Byline: Dan Jamieson A spirited debate is arising over how the United States should reform financial-services regulation. In more than 100 letters, industry observers have told the Department of the Treasury that the current system of...

At the bell.
December 3, 2007... Investor life policies draw alert in Ohio The Ohio Department of Insurance in Columbus on Friday issued a consumer alert against investor-owned life insurance policies. Also on Friday, the American Council of Life Insurers in Washington...

Bear funds starting to roar; With stocks in a slump, these investments earn positive returns.(News)
December 3, 2007... Byline: David Hoffman Bear market mutual funds have come out of hibernation. For the 30 days through last Monday - the day major stock market indexes ended 10% down from their October peaks, signaling a market correction - the bear...

Morgan Stanley changes pay policies; Will pick up some fees and shell out money for assistants.(News)
December 3, 2007... Byline: Dan Jamieson Morgan Stanley is adjusting some of its pay policies to comply with a wage-and-hour lawsuit it settled last year. Beginning this month, the New York firm is picking up some state registration fees, paying for...

Raymond James researches VA riders; Reports help reps choose riders that are appropriate for clients.(News)
December 3, 2007... Byline: Dan Jamieson Raymond James Financial Inc. of St. Petersburg, Fla., last month rolled out a series of research reports on variable annuity riders designed to help its reps sort through the confusing array of products. The firm...

PPA supports new business models; The act permits advisers to help retirement plans in different ways.(Fiduciary Corner)
December 3, 2007... Byline: Don Trone Investment advisers can thank the 2006 Pension Protection Act for giving them a new opportunity. Advisers can now create business models aimed at the $17 trillion that baby boomers will manage over the next two decades as...

SEC is evaluating a shortened prospectus; But the document shouldn't be vague, an analyst cautions.(News)
December 3, 2007... Byline: Sue Asci The Securities and Exchange Commission might adopt a shortened prospectus that could save the industry $300 million a year in printing and mailing costs - and help preserve the environment. The SEC opened the proposal...

Man vs. machine.(Short Interests)
December 3, 2007... Byline: Jeff Benjamin When computers manage the portfolio, the first challenge is often preventing the human brain from getting in the way. This has become the mantra of Shashi Mehrotra, chief investment officer at Legend Advisory...

No noticeable rise in diversity of securities industry; Women, minorities rare in broker force, SIFMA study finds.(News)
December 3, 2007... Byline: Liz Skinner The securities industry work force is not noticeably more diverse today than it was two years ago, even as the nation's largest investment firms strive to hire more women and minorities, according to a new survey. ...

Advisers counsel clients on holiday spending; Give examples of how the money can be put to more fruitful uses.(News)
December 3, 2007... Byline: Liz Skinner 'Tis the season to give, and this year, some financial advisers say they are giving their clients advice about holiday spending. Although most clients are wealthy enough to spend however much they like during the...

Retirement to play bigger role in presidential race; Democrats strive to increase savings; GOP looks to improve Social Security.(News)
December 3, 2007... Byline: Liz Skinner Retirement security will become an increasingly important issue as the presidential race heats up during the final 11 months before America chooses a new commander in chief. Some of the leading presidential...

H&R Block might jettison non-core units; New chairman's focus might lead to sale of the broker-dealer.(News)
December 3, 2007... Byline: Bruce Kelly H&R Block Financial Advisors Inc. faces increasing uncertainty in the wake of a management shakeup at its parent company. On Nov. 20, Mark Ernst resigned as chairman and chief executive of tax preparer H&R Block...

Responses to article point up need for a balancing act; Other voices.(Viewpoint)
December 3, 2007... Byline: Paul Norr In "Reflections of an aspiring financial planner'' (InvestmentNews, Oct. 22), I presented my concerns about the emphasis on sales that I encountered as I was entering the financial planning world. Since the article...

Securities firms worry auto IRAs would hurt other savings plans; Bingaman eyes two hearings on proposed legislation.(News)
December 3, 2007... Byline: Liz Skinner With legislation that would require businesses to provide employees with an easy way to save for retirement gaining momentum in Congress, securities industry concerns about the measure are mounting. Under bipartisan...

Green financial instruments getting their day in the sun; Partnership set to unveil sustainable mortgage-backed securities.(News)
December 3, 2007... Byline: Deborah Nason As the United Nations convention on climate change takes place in Bali this week and next week, a consortium of U.S. political and financial decision makers are in the process of introducing a financial product they...

Lockwood plans a UMA with an income guarantee; Annuitylike policy would combine insurance and investment products.(News)
December 3, 2007... Byline: Darla Mercado An insurance policy that provides an income guarantee to holders of a unified managed account at Lockwood is in registration at the Securities and Exchange Commission. Known as a Guaranteed Retirement Income...

Garry Bridgeman named IMCA president.(Short Interests)
December 3, 2007... Byline: Aaron Siegel The Investment Management Consultants Association has named Garry Bridgeman president for 2008 and 2009. He is a private wealth adviser and first vice president of investments at the private-banking and investment...

Prime numbers.
December 3, 2007... Go figure $110M: The value of refund checks due to 115,478 taxpayers whose checks have been returned as "undeliverable.'' Source: Internal Revenue Service 24: The number of fixed-income exchange traded funds launched so far in...

Fixed-income annuities gain clout among advisers; Laddering beats stock and bond mix, study finds.(News)
December 3, 2007... Byline: Darla Mercado More advisers are turning toward fixed-income annuities as a new asset when they create retirement plans for their baby boomer clients. "With the dearth of defined benefit plans, lifetime income has become an...

Greater disclosure sought for life settlements; Insurance legislators group seeks to prevent abuses by overeager brokers.(News)
December 3, 2007... Byline: Darla Mercado A group of legislators from around the country who are concerned about insurance issues has developed model legislation to combat what it considers abuses in the life settlement business. The Troy, N.Y.-based...

The marital exclusion has costly pitfalls; The `never die single' strategy has its limitations.(Investment Strategies)
December 3, 2007... Byline: David T. Phillips It is a truth universally acknowledged by estate planners that marriage is a sacred institution. That's because, in the "never die single'' strategy popularized by Mark Skousen, editor of Forecasts and Strategies...

Fund redemption fees may be on their way out; Sponsors find other ways to spot, deal with market timers.(News)
December 3, 2007... Byline: Ilana Polyak As the market-timing scandals recede into financial history, the cautionary practices instituted in their wake could face the same fate. Redemption fees, a deterrent against rapid-fire trading, are slowly being...

Impact 2007 Post-Conference Report; Acts of independents.(Advertising Supplement)
December 3, 2007... Letter from Charles Goldman - 1 Opening general session - 4 Behavioral Finance - 6 Marketing and business development - 8 Focus on structured products - 9 General session: Fareed Zakaria - 10 Second-wave boomers - 12...

Correction.(Correction notice)
December 3, 2007... An article Nov. 19 about financial firms "going green'' to win clients gave the wrong name for one of the banks involved. It is Union Credit Bank of Miami, not United Credit.

InvestmentNews Online Opinion Poll; Just thinking.(Viewpoint)
December 3, 2007... Previously, we asked you: Do you think regulators' crackdown on brokerage and advisory firms for failing to implement compliance procedures is warranted? Yes: 71.7% No: 28.3% Respondents: 145 This week's question is: Should...

A tot's guide to money.(Short Interests)
December 10, 2007... Byline: Aaron Siegel Can personal money management be made as easy as child's play? Blue Lake Children's Publishing of Portland, Ore., in partnership with Moonjar LLC, a Seattle-based children's literacy organization, is betting it...

Advisers home in on disability insurance; Younger clients benefit most from protecting income.(News)
December 10, 2007... Byline: Darla Mercado Disability insurance, though not as sought after as its life and long-term-care cousins, has become a focal point for financial advisers - especially for those with clients who have yet to reach their full earning...

Let's put a freeze on mortgage rate resets; Editorial.(Viewpoint)(Editorial)
December 10, 2007... The prospect of 2 million homeowners seeing their mortgage rates jump over the next two years as adjustable-rate mortgages reset, possibly triggering hundreds of thousands of foreclosures, has forced the government, lenders and the...

New online tool helps prospect for wealthy clients; NOZA offers unique glimpse into individualized giving patterns.(Tech Tips)
December 10, 2007... Byline: Davis D. Janowski Advisers have a new, largely undiscovered and relatively inexpensive online database for prospecting for wealthy clients or for researching the giving habits of those they already have. NOZA Inc. of Santa...

ICI seeks a protected market for mutual funds; At Large.(Viewpoint)
December 10, 2007... Byline: Jeff Benjamin Call me cynical, but whenever I see a giant trade association trumpeting its concern for the little guy, I am there is more going on than meets the eye. In this case, I am referring to the Investment Company...

Fundraiser helping USO serve troops.(Short Interests)
December 10, 2007... Byline: Sara Hottman Mutual fund company Waddell & Reed Financial Inc. celebrated its 70th anniversary with a year-long charitable road trip to benefit the United Service Organizations. This month, the Overland Park, Kan.-based company...

Five-year performance numbers may be misleading; Morningstar considers adding a seven-year reporting period to give investors a better perspective.(News)
December 10, 2007... Byline: Dan Jamieson As 2008 rolls around, it will bring an important historical marker: The five-year anniversary of the bull market. In mid-March of 2003, the U.S. stock markets began a broad-based rally. That anniversary means that...

Prime numbers.
December 10, 2007... Go figure 52%: The percentage of all finance-related resolutions related to debt reduction that people are expected to make during the coming New Year's season. That is up from 26% a year ago. Source: myGoals.com $920B: The total...

Small-cap star blossoms in mid-cap league.(Street Wise)
December 10, 2007... Byline: Jeff Benjamin Despite stellar returns, Stephens Investment Management has been slow to attract assets Like a lot of managers of mid-cap stock funds, Stephens Investment Management Group LLC of Houston discovered the...

Ameriprise unit loses top rep to First Allied; Compliance changes may be behind departure, say some.(News)
December 10, 2007... Byline: Bruce Kelly As Securities America Inc. deals with the sting of losing one of its biggest advisers, the independent broker-dealer continues to tighten its compliance practices and procedures. Raymond J. Lucia Cos. Inc. of San...

Despite returns, advisers bullish on managed futures; Performance expected to improve.(News)
December 10, 2007... Byline: Dan Jamieson The performance of managed futures is languishing, but that hasn't diminished their appeal among financial advisers. Assets in managed futures totaled $184.8 billion Sept. 30, up from $170 billion at the end of...

At the bell.
December 10, 2007... JPMorgan chief sees urge to merge James Dimon, chairman and chief executive of New York-based JPMorgan Chase & Co., has predicted a surge of bank mergers in the United States and Germany, thanks to market turmoil. "Companies recognize...

More children seen vulnerable to 'kiddie tax'.(News)
December 10, 2007... Byline: Sara Hansard More children could be trapped by the dreaded "kiddie tax'' this year. "This year, Congress has made income shifting a dream of the past,'' David Marotta and Beth Nedelisky of Marotta Asset Management Inc. of...

Thrill-seeking clients challenge advisers; Lions and tigers and life insurance - oh my!(News)
December 10, 2007... Byline: Darla Mercado More and more advisers are taking into account a different type of risk as they steer clients through retirement: the possibility that a client will want to drive down a racetrack at 240 miles per hour. Enter...

Ultrawealthy group to increase hedge fund investments; Market volatility no deterrent, study finds.(News)
December 10, 2007... Byline: Charles Paikert Despite the market's current volatility, the love affair between ultrawealthy investors and hedge funds is still torrid, according to a new survey by the Institute for Private Investors, a New York-based association...

Boomers' taboo: $ talk.(Short Interests)
December 10, 2007... Byline: Sara Hottman Affluent baby boomers consider family finances a taboo topic, an Ameriprise Financial Inc. survey showed. The survey, released last week, asked 1,001 baby boomers with $100,000 or more in investible assets, 300...

Bacon pays sizzling $175 million for ranch.(Short Interests)
December 10, 2007... Byline: Charles Paikert Maybe the housing market isn't tanking after all. Hedge fund manager Louis Bacon, head of New York-based Moore Capital Management LLC, last month bought the Forbes family's Colorado ranch for what is believed to...

SMA biz makes tax management easier for advisers; Improved technology, attitude changes are the catalysts for use of customized approaches.(News)
December 10, 2007... Byline: Jeff Benjamin The continuing evolution of the separately managed accounts industry is making it easier for a growing number of financial advisers to deliver portfolio tax management. Industry estimates show that new technology...

Socially conscious fund firms spread their asset-class wings; Quest for performance spawns small-cap, international investments.(News)
December 10, 2007... Byline: Sue Asci Investors eyeing socially conscious funds are no longer looking merely at the social issues; they are also looking for performance - a change that has resulted in new offerings from fund firms in asset classes that have...

Two consumer groups support expanding principal-trade rule; CFA, Fund Democracy: Extension to advisory firms OK.(News)
December 10, 2007... Byline: Sara Hansard In an unusual twist, two groups known as advocates for investors have come out in favor of expanding the controversial principal-trade rule to include discretionary accounts and advisory firms affiliated with brokers....

Vanguard bolsters efforts to woo financial advisers; Company pins hopes on ETFs, mutual funds.(News)
December 10, 2007... Byline: David Hoffman Despite once having been seen as betraying financial advisers, The Vanguard Group Inc. of Malvern, Pa., continues to ratchet up efforts to court them. But the fund company may not be doing enough to heal old...

Industry helped axe Michigan financial advice tax; Lobbyists, industry reps brought pressure to bear on legislature.(News)
December 10, 2007... Byline: Jeff Benjamin The financial services industry is celebrating the defeat of Michigan's proposed 6% tax on investment advice and other random services, ranging from lawn care to psychic readings to escort services. The service...

A woman's take on the numbers; There are steps you can take to increase your practice's appeal to female investors.(Marketing Strategies)
December 10, 2007... Byline: Libby Dubick When marketing to women, what is most important - knowing the right numbers or having the right approach? "It's the numbers,'' said JoanAnn Natola, managing partner of the New York-based Element Financial Group,...

Lessons from Rupert Murdoch; Advisers can glean insights from the Dow Jones acquisition.(Succession Planning)
December 10, 2007... Byline: John M. Leonetti When wooing Bancroft family heirs to sell him their controlling interest in New York-based Dow Jones & Co. Inc., K. Rupert Murdoch learned that money isn't everything. Perhaps more important than a huge check...

Closing quote.(Short Interests)
December 10, 2007... "There's no question, this is an old-fashioned, Texas-style rear-end kicking.'' -Andrew Stoltmann, a plaintiff's attorney in Chicago, on a $4.6 million award against UBS Financial Services Inc. and two of its brokers late last month by a...

Upper crust seeks advice before donating; Wealthy are generous, but they select charities carefully.(News)
December 10, 2007... Byline: Sue Asci Very wealthy or entrepreneurial investors seek advice before they decide to donate to charity. "[Successful advisers] are the ones who are raising the questions, and they are proactively approaching their clients,''...

UBS, 2 reps hit with rare award on punitive damages; Ex-broker claims that colleagues spread lies about him, claiming he posed a risk to the firm.(News)
December 10, 2007... Byline: Bruce Kelly A stunning $4.6 million award against UBS Financial Services Inc. and two of its brokers late last month revealed how irate the arbitrators were with UBS. The money will be awarded to a former UBS rep from Fort...

CPAs for small businesses may offer 401(k) plans; Some could develop a niche, some say.(News)
December 10, 2007... Byline: Lisa Shidler Certified public accountants who serve small businesses are poised to offer 401(k) plans to their clients, said Chandra Bhansali, president of AccountantsWorld LLC, an online company that provides payroll assistance to...

Individual-bond model portfolios seen as filling a niche; Managed product may offer competition to SMAs, ETFs.(News)
December 10, 2007... Byline: David Hoffman A fixed-income service provider claims to have found a way that allows broker-dealers to deliver model portfolios of individual bonds more efficiently and at a lower cost than separately managed accounts, bond funds...

First comes the IPO, then comes the bad news; Investors punish companies for failure to prepare for poor earnings and staff defections.(News)
December 10, 2007... Byline: Sara Hansard Even though the vast majority of chief executives who led initial public offerings thought they were prepared for them, more than 80% of them had to announce unexpected bad news about their companies after their IPOs,...

People.
December 10, 2007... State Street Global Advisors of Boston has promoted Thomas Anderson, 41, to head of the strategy-and-research group within its intermediary-business group. Created in 2001, the intermediary-business group serves financial advisers, broker-...