Ronald P. O’Hanley, Fidelity Investments’ head of asset management, is stepping down after less than four years in the role, giving President Abigail Johnson an opportunity to consolidate control of the family- owned firm.
Phil Falcone, founder of Harbinger Capital Partners, has made and lost billions with bets on mortgages and iron mines. Now, in a bid to build a new broadband network, he’s blasting investors money into space.
Goldman Sachs Group Inc. is drawing record deposits into a bond mutual fund that’s making money even as interest rates rise, giving the bank a boost in one of the few Wall Street businesses it hasn’t dominated.
Tamerlan Tsarnaev attracted attention around the boxing rings he loved. In 2009, it was for showing up at a Golden Gloves tournament in leather pants and snakeskin boots. About a year later, it was for kneeling beside a gym treadmill on a prayer blanket.
Neel Kashkari, the former Goldman Sachs Group Inc. executive chosen by ex-Treasury Secretary Henry Paulson to help rescue the U.S. banking system, is readying a challenge to California Governor Jerry Brown even as the world’s 10th-largest economy reaches its highest level in more than three decades.
The work that earned Eugene Fama the Nobel Prize in economics provided the intellectual foundation for index-tracking funds, which have upended stock picking as investors abandon active money managers.