June 28, 1991 |
Capital Group, the $60-billion-asset institution that is the Southland's biggest private money manager, is reshuffling some of its senior officers to make room for the next generation of top managers, the firm said Thursday. Six of the executives who brought the Los Angeles-based firm to prominence during the past two decades are forming a new partnership within Capital, while giving up administrative titles and duties to more junior officers beginning Monday.
December 21, 2012 |
The black BMW 750 looks out of place alongside all the Toyotas and Hondas in the parking lot of public radio station KPCC-FM (89.3) in Pasadena. The man who owns the sleek sedan also looks a little out of place. Wearing black pinstripes in a room full of khaki, Gordon "Gordy" Crawford is here to talk to the newsroom about the global economy. This is the same man who's considered to be one of the smartest guys in Hollywood, the influential investment fund manager best known for dispensing wisdom to the titans of media, entertainment and technology, not journalists.
October 6, 2004 |
Massachusetts' main state pension fund said Tuesday that it fired money management giant Capital Group Cos. because of poor returns, costing the Los Angeles company an account worth nearly $1 billion. The defection is the latest Capital has suffered from its Capital Guardian Trust unit, which at midyear managed about $95 billion in foreign stocks for institutional investors.
January 15, 2005 |
Capital Group Cos., the Los Angeles-based firm that runs American Funds, negotiated lower stock-trading commissions from brokerages last year as expenditures throughout the U.S. mutual fund industry came under more scrutiny, the company said Friday. The move cut expenses that are borne by investors in American Funds. Capital Group spokesman Chuck Freadhoff said the commission costs were lowered by roughly one-third in 2004, but he declined to disclose the dollar amount.
October 14, 2005 |
A divorce case is threatening to reveal financial details of Capital Group Cos., the $1-trillion-asset Los Angeles money management firm that has long kept its internal business affairs closely guarded. The privately held company plans to ask a Superior Court judge to restrict public access to certain documents and testimony in the divorce trial of Capital executive Timothy Armour and Nina Ritter, according to Ritter and others familiar with the case. Trial is set to begin Monday.
March 14, 2004 |
Most mutual fund companies would be thrilled with the kind of attention that Los Angeles-based Capital Group Cos. has attracted of late. Its stock and bond funds were the nation's most popular by far last year, taking in $66 billion in new cash, nearly twice as much as the next-best-seller, Vanguard Group. All of Capital's stock funds, marketed under the American Funds label, posted net gains in the five years through February, a period that included the worst bear market in a generation.