Wealth management

The state-approved benefit change for some Chicago firefighters adds $180 million to the city's unfunded tab and $700 million to contributions over 30 years.

Muni bonds have not been not the quick way to big returns in 2021. But for the right client, they are the perfect addition to a portfolio focused on stability and low risk, advisors say.

The Missouri State Employees Retirement System filed an amended complaint against Catalyst Capital Group Inc. accusing it of mismanaging investments. The firm counters the fund is trying to shift the blame for its own mismanagement.

Alex Doñé will leave the city comptroller's office at year's end when Scott Stringer's term ends; deputy CIO Michael Haddad will fill the interim position.

The sale is Babson’s first since 2017. The business-and-entrepreneurial themed private college, which opened in 1919, has about $150 million of outstanding bonds, according to its presentation to Moody’s.

While the outgoing New York mayor's final plan showed some bright spots, enough remains to test Eric Adams when he takes office.

Chicago Mayor Lori Lightfoot is aiming to present her pick among five casino bidders to the City Council early next year.

The bank will also be an investment account manager for the state's $12.5 billion Short-Term Investment Fund, Treasurer Shawn Wooden said.

The popularity of cryptocurrency may drive investment by public pension funds.

The wealth management business is undergoing considerable transformation. The pandemic has created a new breed of investors, with distinct expectations and tastes formed by new technology and having lived through the financial crisis.

A $430 million collaborative transaction featured the university, two asset management firms, and the New Jersey Educational Facilities Authority.

Massive market returns coupled with rising contribution rates, led by worst-funded states like Illinois and New Jersey, boosted state retirement systems.

Melissa Norcia, appointed Tuesday, will begin her new duties on Sept. 15.

As the market prepares for a smaller primary calendar in the holiday-shortened week, fund flows again are worth exploring as a strong demand component for 2021.

The Bond Buyer is seeking industry-wide input on environmental, social and governance factors in the public finance space.

Most recently, he was a principal investment officer and head of global equity at the Los Angeles County Employees Retirement Association, or LACERA.

Illinois' single-employer pension plans are straining the budgets and ratings of those local governments without the tax base, flexiblity, and fiscal discipline to tackle rising costs, S&P says in a special report.

Perform, a portfolio management platform for institutional investors who want to accesses the municipal bond market, will be integrated into ICE Bonds.

Chicago's net pension liabilities increased by $1.1 billion in 2020 to almost $33 billion.

PFM Asset Management will continue to operate as a separate entity. The deal does not affect PFM’s financial advisory business which will continue to operate independently.