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...At one point pharmaceutical company Pfizer even set out a “no jerks” policy....
...Activist investor Sparta Capital Management is calling on London-listed engineer Wood Group to consider a US listing to address the “continued underperformance of its shares”....
...Marc Rowan, the head of Apollo Global Management, separately led a campaign against the University of Pennsylvania, which sparked the resignation of Scott Bok, chair of the board of trustees....
...Consulting companies, in particular, have been wrestling with how to match staffing with a weaker market for their services....
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...Whenever there’s a study that dunks on active portfolio management, we’ll be here to cut and paste. Today’s active management dunk comes from Morningstar....
...Private equity firms are increasingly raising money to buy individual companies on a deal-by-deal basis, as they struggle with a downturn in the market and investors look for ways to cut management fees....
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...One of the very few women at the top of asset management, globally, and the only foreign leader of a leading financial services company in Japan, Drews decided long ago to do things differently....
...The move was widely seen as a landmark shift in corporate power from management to the board....
...Hiroshi Lockheimer, head of Android, will be moved to work on other products and is replaced by Sameer Samat, vice-president of product management for Android and Google Play....
...“Managing directors” who are not directors of any company and don’t manage anything. “Vice-presidents” who carry bags and take minutes. “Executive directors” who are mid-level bureaucrats....
...A $600mn equity investment in UK waste management company Biffa in early 2008 proved disastrous....
...A year ago, Harvard endowment’s Narv Narvekar warned that “meaningful” markdowns were coming for private capital funds....
...Ackman, founder of New York-based hedge fund Pershing Square Capital Management, is known for his activist campaigns at big companies, including dietary supplements company Herbalife, department store JCPenney...
...The first is a standalone public company — albeit with a lot of other businesses bolted on — while the latter two are part of broader listed companies, S&P Global and LSEG respectively....
...Anyway, here’s the lowdown on asset management for this week. You’ll be back in Harriet’s capable (and tanned) hands next time....
...Leading the charge is Bill Ackman, the Harvard alumnus and hedge fund billionaire who after abandoning the use of aggressive campaigns at his Pershing Square Capital Management has been invoking his flair...
...Investors pumped $65.6bn into active ETFs in the three months to the end of March — more than 50 per cent higher than the previous record of $41bn in the fourth quarter of 2023 — as assets under management...
...Another method is finding matched pairs of companies — in similar industries, of similar size, deploying similar technologies — and following each very closely over a long period, to observe how management...
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