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.”

How To

change

“The only woman in the room” & how to change that by 2186

With passionate voices working every day to redefine the standard for gender equality, I believe…

Read More »
manage

Ask Sheree: How to Manage an Overload of Work

It is very common for a busy professional to feel overwhelmed with their job commitments…

Read More »