Pacific Investment Management Co., the bond manager that started expanding into stocks four years ago, hired Virginie Maisonneuve from Schroders Plc to lead the push after Neel Kashkari left in January.
The cost of betting on swings in an exchange-traded fund tracking Treasuries fell to the lowest level since 2010 on speculation volatility will diminish as the Federal Reserve delays plans to taper stimulus.
ClearBridge Investments’ Richard Freeman followed drug company Alza Corp. for 28 years before buying shares in 1999, when a failed acquisition by a larger company sent shares plunging. Two years later, Johnson & Johnson bought Alza for triple the price the fund paid.
Devan Kaloo led Aberdeen Emerging Markets Fund to top risk-adjusted returns by picking the best stocks in the most volatile industries, beating peers from Fidelity Investments to Franklin Resources Inc.’s Mark Mobius.
State Street Corp., the second- largest provider of exchange-traded funds worldwide, is seeking to counter its biggest rivals’ dominance of emerging-market stock ETFs with a fund that excludes Brazil, Russia, India and China, known as the BRIC nations.
CenturyTel Inc., the Louisiana phone company that’s expanding across the U.S., plans to buy Qwest Communications International Inc. for about $10 billion, more than doubling its customers in its largest purchase yet.
AT&T Inc. Chairman and Chief Executive Officer Randall Stephenson is facing the toughest regulatory challenge of his career as U.S. officials put his $39 billion gamble on T-Mobile USA Inc. in jeopardy.