Asset Managers

For some black-owned asset managers, 2008 was one of the most turbulent years ever. No. 4 on the BE Asset Managers list, Chicago-based Ariel Investments L.L.C. saw its assets under management drop a staggering 66% to $4.4 billion and revenues fall 41% to $53.9 million. The 40% drop in the stock market—combined with investors running for the exits—contributed to the decline, says Mellody Hobson, Ariel’s president. She also disclosed that Ariel laid off 18 people in August to help cut expenses. “Clearly, we’ve been in a once-in-a-70-year economic crisis in this country,” Hobson says, “and that has significantly affected money management firms and mutual fund companies.”

Women of Power

(Image: Bowman)

Cool Jobs: Television Executive Micheline Bowman Balances Career and Side Hustle

Fox News’ Micheline Bowman has more than 15 years experience in television and has a…

Read More »
Image: File

Women of Power: 10 Black Industry Leaders in Television and Film

Though the representation of women of color on TV and in film is still lagging…

Read More »