Famed bond-picker BlackRock will bring Boston Partners stock analyst and founder Wayne Archambo onboard in January. Adding to the intrigue is word that Blackrock is making a play to purchase Boston Partners. The firms deny that a deal is in the works. Archembo and Boston Partners announced a settlement of litigation stemming from his resignation of the firm. The settlement requires him to honor his contract through August 25, 2002 and bars him from soliciting Boston Partners clients through that time.
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Marcel Houtzager has resigned from Liberty Wanger. Rather than pick stocks, he will turn his discriminating eye to picking objects of art and move to California. The firm named Todd Narter and Chris Olson as the new managers of the Liberty Acorn Foreign Forty Fund.
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Merrill Lynch has fired two executives for failing to oversee properly a currency trader, according to The Wall Street Journal
, . The trader allegedly misallocated trades; the trader left the firm in April. The executives let go were Tim Manna, the Merrill unit's global head of fixed-income investments, and David Jacob, head of fixed-income for Europe, the Middle East and Africa.
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Gabelli Asset Management is using its fund assets to pressure the management of Carter-Wallace. The firm sent a letter to shareholders asking them to voice dissatisfaction with the low price tag and large tax bill associated with the proposed sale of its consumer products and pharmaceuticals businesses. The letter also coins a new phrase: "Platinum Parachutes".
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Donald J. Doudna has joined Amcore Investment Group subsidiary Investors Management Group as senior vice president and manager of Institutional Development. The Des Moines, Iowa-based bank has clients in Illinois, Wisconsin in Iowa. He was most recently executive vice president of Business Development at Securities Corporation of Iowa in Cedar Rapids.
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