Diamond Castle Holdings LLC, the private-equity firm started by a group of executives from Credit Suisse Group AG, is seeking ways to let clients opt out of its last fund raised in 2006, three people with knowledge of the matter said.
Jacksonville, Florida, with the third most underfunded pensions of the largest U.S. cities, is considering an unprecedented solution that may preserve its credit rating at the expense of its utility’s.
Fidelity Investments, the mutual- fund firm best known for its star stock pickers since it was started almost seven decades ago, named former bond manager Charles Morrison to run its asset-management unit.
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.
RBC Wealth Management, the unit of Toronto-based Royal Bank of Canada that oversees almost $200 billion for more than 350,000 households, won the highest satisfaction ranking in a survey of full-service investment firms’ customers, according to J.D. Power & Associates.