Schwartz's departure comes amid signs of serious trouble inside GAM, as the asset management unit is known.
In December the group created a new asset management unit, China Merchants Capital, to oversee private equity and alternative investments (Fu is its chairman and CEO).
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Last year, Citigroup (nyse: C - news - people ) swapped its asset management unit for Legg Mason 's (nyse: LM - news - people ) retail brokerage.
One option that has repeatedly been raised is for the firm to sell all or part of its Neuberger and Berman asset-management unit, but that would leave it with a large proportion of assets impacted by the credit-market turmoil.
Long sued Bank of America and West Asset Management, a unit of West Corp.
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While asset sales in the company's industrial unit are possible, Parent said large-scale divestitures are not likely.
Cleveland Police have set up a dedicated Financial Investigation Unit, which is committed to asset confiscation and officers are now issued with laminated cards, highlighting key points to consider when dealing with suspects.
Fidelity Investments and American Funds, among the largest in the category, saw redemptions or weak investor interest compared with competitors, according to an analysis of mutual-fund flows done for The Wall Street Journal by research firm Strategic Insight, a unit of New York-based Asset International.
Asset managers, with or without their own distribution, i.e. brokerage unit, would have to strike marketing deals or forego commissions to attract retail and financial advisor driven purchases.
The unit was placed under a strategic review, as were Morgan Stanley's asset management and retail brokerage divisions.
In that case, he was snagging an asset that had long been thought to be headed for General Electric 's NBC Universal unit.
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