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Fidelity names tech executive Neff to run asset management

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BOSTON (Reuters) – Fidelity Investments on Friday named technology executive Steve Neff to run its big asset management division, a move that shows the growing importance of data systems for fund companies. Neff, a 22-year Fidelity veteran, replaces Charlie Morrison, whose pending retirement the privately held Boston firm announced in October. “It’s an opportune time Read More

Eaton Vance's Gaffney sees opportunity in emerging market-denominated bonds

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NEW YORK (Reuters) – There are untapped opportunities in corporate debt securities denominated in emerging-market currencies, Eaton Vance’s director of diversified fixed-income said at the Reuters Global Investment 2019 Outlook Summit on Friday. Kathleen Gaffney, vice president, director of diversified fixed income and lead portfolio manager for Eaton Vance Management, speaks during the Reuters Global Read More

Tired of house calls, Alli Webb built a Drybar styling empire

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NEW YORK (Reuters) – A decade ago, Alli Webb was a hair stylist who made house calls, driving all over Los Angeles to shampoo, style, and blow-dry clients’ hair before big nights out. Alli Webb, owner of Drybar, appears in an undated handout photo provided by Alli Webb in Irvine, California, U.S., November 14, 2018. Read More

Wells Fargo plans 1,000 U.S. job cuts

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The sign at a Wells Fargo banking location is pictured in Pasadena, California, U.S., September 8, 2017. REUTERS/Mario Anzuoni (Reuters) – Wells Fargo & Co said on Thursday it notified about 1,000 employees in its Consumer Lending and Payments, Virtual Solutions and Innovations groups of plans to eliminate their positions. The layoffs are consistent with Read More

Wells Fargo plans to cut 1,000 positions in U.S.: spokesperson

2 days ago DieselGasoil Comments Off on Wells Fargo plans to cut 1,000 positions in U.S.: spokesperson
The sign outside the Wells Fargo & Co. bank in downtown Denver April 13, 2016. REUTERS/Rick Wilking/File Photo (Reuters) – Wells Fargo & Co. said on Thursday the bank given has given notice to team members in its Consumer Lending and Payments, Virtual Solutions and Innovations groups that it plans to eliminate roughly 1,000 positions Read More

DoubleLine Capital LP warns on U.S. investment-grade bonds

2 days ago DieselGasoil Comments Off on DoubleLine Capital LP warns on U.S. investment-grade bonds
NEW YORK (Reuters) – DoubleLine Capital LP portfolio manager Monica Erickson has a problem. She thinks the investment-grade corporate bond market, which is her specialty, is the worst place to be for bond investors. Monica Erickson, senior portfolio manager at DoubleLine Capital LP, speaks during the Reuters Global Investment 2019 Outlook Summit in New York, Read More

U.S. big investors' best investment ideas for 2019

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NEW YORK (Reuters) – The best investment ideas for 2019 range from buying local currencies in emerging markets to picking up beaten-down casino stocks to holding on to bank loans, according to investors who appeared this week at the Reuters Global Investment 2019 Outlook Summit in New York. Penny Foley, Portfolio Manager for the TCW Read More

Third Point gains ISS, Glass Lewis support in Campbell proxy fight

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NEW YORK (Reuters) – Shareholder advisory firms Institutional Shareholder Services and Glass Lewis backed a push by Daniel Loeb’s hedge fund to make changes at Campbell Soup Co (CPB.N), including replacing some board members. FILE PHOTO: Cans of Campbell’s Soup are displayed in a supermarket in New York City, U.S. February 15, 2017. REUTERS/Brendan McDermid/File Read More

How U.S. seniors on Medicare can bridge the gap in dental insurance

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CHICAGO (Reuters) – During a recent visit to my dentist, we got talking about his frustrations with Medicare. “It’s amazing – they have managed to eliminate teeth from the human body.” FILE PHOTO: Toothbrushes are seen during an organic market in Lisbon, Portugal, November 5, 2016. REUTERS/Rafael Marchante/File Photo Here is what he meant: traditional Read More

Proxy advisory firm ISS favors vote for Third Point nominees at Campbell

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NEW YORK (Reuters) – Shareholder advisory firm Institutional Shareholder Services on Wednesday recommended that Campbell Soup Co investors elect all five of Third Point hedge fund’s board nominees, giving a boost to the activist firm, which is fighting a high profile proxy battle with the company. FILE PHOTO: The logo and ticker for Campbell Soup Read More