August 31, 1994 |
Pilgrim CEO Relinquishes One Post: Palomba Weingarten, who chairs Century City-based mutual fund firm Pilgrim Group and its distribution arm Pilgrim Distributors, named James Ash to be chief executive of the latter. Weingarten faces a one-year ban on her association with the distribution unit since a National Assn. of Securities Dealers panel found that she had approved Pilgrim ads containing "misleading or exaggerated statements" about fund performance.
December 8, 1994 |
After months of controversy that drained its assets, the Century City-based Pilgrim Group mutual fund company said Wednesday that it will disband. The firm said its staff and six of its 10 funds, with assets of $1.15 billion, will be sold to Express America Holdings, an Arizona mortgage banker, for $28 million. Pilgrim CEO Palomba Weingarten will retain four other Pilgrim funds with $750 million in assets--Pilgrim Adjustable U.S.
August 7, 1994
"Pilgrim Exec Faces Suspension in Silence" (July 27) raises interesting questions on the relation and conduct of men and women to one another in the business world. Apparently "sugar and spice and everything nice" never did and certainly does not presently apply to Palomba Weingarten. But are being nasty, cheap, evasive, misleading and dishonest requirements for getting along in this environment whether one is a man or a woman? It's not even a case of women equaling men in how low one must get to succeed.
February 11, 1995 |
Pilgrim Group, a long-troubled mutual fund company based in Century City, is facing at least six shareholder lawsuits alleging that the firm failed to disclose risks and pricing problems involving some of its bond mutual funds. The funds, which invest in adjustable-rate mortgage bonds, were among the worst-performing mutual funds last year and their steep decline has continued in 1995, even as most bond funds have rebounded.
May 11, 1991 |
The ground shook the day after Robert Weingarten, then chairman of First Capital Holdings Corp., told a small group of insurance agents that E. F. Hutton Life Insurance would be renamed First Capital to reflect its newfound ownership by the fast-growing Century City firm. Now, four years later, some agents regret that they didn't recognize the Whittier earthquake as an omen.
November 25, 1990 |
Are women different from men when it comes to investing? Some experts think so. And they assert that because of these differences, mutual funds are a good investment vehicle for women. First, a qualification: Many women are thoroughly adept at investing; some of the best fund managers are female. More to the point, several other traits play a bigger role in determining a person's financial outlook and attitudes. "Age and risk tolerance are more critical than gender," says Dr.