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  • December 13, 2017
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    Industry News


    BoNY Acquires Real Estate Firm

    February 1, 2006

    The Bank of New York has acquired real estate investment firm Urdang Capital Management. Urdang manages more than $ billion in institutional assets in private equity investments and REIT portfolios.

    The transaction is expected to close by the end of the first quarter; financial terms were not disclosed. E. Scott Urdang, ceo of Urdang, said that the firm&#39s entire management team will remain in place.

    Industry News   

    Lord Abbett Launches Institutional “Smid” -Cap Fund

    February 1, 2006

    Lord Abbett has launched a new small- to mid-cap value equity fund for institutional and individual clients. The Lord Abbett Value Opportunities Fund will be managed by Steven McBoyle, senior investment manager, previously a senior research analyst on the firm&#39s small-cap value portfolio management team.

    The fund will have “the latitude to pursue stocks that we believe offer the best, absolute value,” said Robert Morris, partner and cio.

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    Boston Advisors, Merrill To Split

    February 1, 2006

    Asset management firm Boston Advisors is in the process of finalizing an agreement to become independent of Merrill Lynch, several sources close to the discussions told EMM sister publication FINdaily. Merrill Lynch acquired Boston Advisors when it bought The Advest Group from AXA Financial in December. Sources say the agreement between Boston Advisors and Merrill Lynch is expected to be completed this month. Michael Vogelzang, president and ceo of Boston Advisors, declined to comment and Erik Hendrickson, spokesman for Merrill Lynch, did not return several phone calls.
    Boston Advisors, founded in 1982, has $4.2 billion in assets under management. It is not clear if municipal bond manager Lebenthal Asset Management, a division of Boston Advisors, would be included in the deal.

    Industry News   

    Janus Hires Managing Director

    February 1, 2006

    Thomas Munsell was named managing director of Janus Capital Group&#39s Global Client Management for Institutions. He will be responsible for managing the firm&#39s sales and service team in the asset management, insurance, bank trust and fund-of-funds distribution areas and will be based in New York City. Munsell, formerly an executive with MFS Investments, will report to Robert Watson, managing director of Janus&#39 Global Client Management.

    Industry News   

    MLIM Hires Americas Inst&#39l Head

    February 1, 2006

    Merrill Lynch Investment Management has hired Joseph Craven as head of the firm&#39s Americas institutional business. He will be responsible for executing the firm&#39s strategic growth plan for its institutional business and will report to Frank Porcelli, coo for the Americas. He was previously director of institutional retirement services at Putnam Investments. “I am confident that Joe&#39s leadership will put MLIM Americas institutional business in a strong position to deliver against its ambitious plans for 2006 and beyond,” Porcelli said.

    Industry News   

    TS&W Names 2 Directors

    February 1, 2006

    Thompson, Siegel & Walmsley has appointed John Reifsnider as director of institutional marketing and Thomas “Chip&#39 Coleman as director of trading.

    “We believe that TS&W is poised for significant growth, as our equity products are firing on all cylinders,” said Larry Gibson, managing director and co-ceo of TS&W. “Hiring John Reifsnider and Chip Coleman will help fuel asset growth as well as manage it properly.”

    Reifsnider, who will report to Gibson, joins the firm from Atlantic Capital Management, where he was a founding member and managing director. Coleman, who will report to Managing Director and co-CEO Horace Whitworth, joins TS&W from Legg Mason, where he managed portfolio trading activities. TS&W Names 2 Directors

    Industry News