A Washington Beating for Robinhood’s CEO
The GameStop congressional hearings expose fractures in the online brokerage’s business model: its trading halt, margin level, and fee policy.
Newsmakers
Wisconsin Investment Board Executive Director, CIO David Villa Dies at 66
Villa had been executive director since 2018 and CIO since 2006.
Raytheon Technologies to Launch Diverse Manager Program
Asset managers for the $110 billion corporate plans should start hiring with race, gender, and other considerations in mind, CIO Robin Diamonte says.
Jacque Millard, Longtime Intermountain Healthcare CIO, Has Retired
The allocator, who spent nearly 28 years at the fund, is mulling over her next move, while filling her schedule with advisory commitments.
Massachusetts Pension Fund Returns 12.6% in 2020, Hits Record Asset Value
The state pension’s annualized returns beat the benchmark over the past one, three, five, and 10 years.
News From Davos: US Vows to Throw Weight Behind Climate Change Fight
Special envoy John Kerry said ‘we wasted four years’ under the Trump administration.
Leon Black: A Career-Making 1990 Call and a Career-Ending One in the 2010s
He owes Apollo’s boffo start to the killing he made on an insurer’s then-skanky high-yield bonds. Then came Epstein.
Two NYC Pension Funds Divesting $4 Billion from Oil Companies
The move from the largest funds under the $239.8 billion New York City Retirement Systems follows a commitment made in 2018.
North Carolina State Pension Returns 11% to End 2020 at Record High
State Treasurer Dale Folwell credits a conservative investment strategy for the fund’s strong performance.
Restoring Pensions from 401(k) Plans Could Cost San Diego Millions
The city might have to retroactively create DB plans for some 4,000 city workers.
NYS Pension Fund Calls for Civil Rights Audit on Amazon
State comptroller calls for third-party audit to asses how retail giant’s policies affect equity, diversity, and inclusion.
Madoff Victims’ Recovery Tops 80% of Losses
Latest distribution of more than $488 million to Bernie Madoff victims hailed as ‘historic result.’
Supreme Court Denies Bondholders’ Claim on Puerto Rico’s Pension Plan
Investors argued that they should get some of the government contributions to the insolvent retirement program.
Ontario Teachers’ Finance Trust Issues First Green Bond
Canadian pension fund issues €750 million 10-year bond earmarked for sustainable investments.
Jerome Powell May Get Extended as Federal Reserve Chief, Say Analysts
The GOP-appointed Fed chair, whose term expires in 2022, has Dem admirers in the Senate.