Fidelity Investments Names Abigail Johnson, BNY’s O’Hanley as Presidents Fidelity Investments, the world’s largest mutual-fund manager, named Abigail P. Johnson to oversee distribution and hired Ronald P. O’Hanley as head of asset management, splitting responsibility for running the company after President Rodger Lawson left in March.
Legg Mason Cuts Jobs, Plans $1 Billion Buyback After Returning to Profit Legg Mason Inc. plans to eliminate 350 jobs to cut costs and buy back $1 billion in shares after suffering the biggest losses among publicly traded money managers during the credit crisis.
Paulson & Co. Said to Close Firm’s Largest Hedge Funds to New Investments Billionaire John Paulson, whose Paulson & Co. oversees $35 billion in hedge funds, told clients he plans to close his largest funds to new investments.
KKR Files to Raise $500 Million to Expand Business When Listing Is Moved KKR & Co., the buyout firm run by Henry Kravis and George Roberts, filed to raise as much as $500 million by selling shares to the public when it moves its listing to the New York Stock Exchange.
Queen Plans to Depart EMI as Investors Vote to Keep Label From Creditors Queen, the British rock band that penned “Bohemian Rhapsody,” is said to be leaving EMI Music after almost four decades, as the label’s investors vote on providing more cash to prevent creditors from seizing control.
Janus Fund Manager Laurent Saltiel Plans to Join AllianceBernstein in June Laurent Saltiel, manager of Janus Capital Group Inc.’s $2.44 billion Worldwide Fund, plans to leave at the end of May to join investment firm AllianceBernstein LP.
Raj Rajaratnam’s Bid to Exclude Wiretaps Aims to Sink Galleon Insider Case Galleon Group LLC co-founder Raj Rajaratnam’s bid to suppress wiretap evidence at his insider- trading trial has an even broader aim: to topple the bulk of the government’s case against him.
Odey Forms Investment Firm With Geneva’s Bruellan as Bank Secrecy Erodes Odey Asset Management, the London- based hedge fund run by Crispin Odey, has formed a joint-venture with Geneva’s Bruellan Wealth Management to target private clients in Switzerland.
LBO France Said to Hire Rothschild For $1.3 Billion Medi-Partenaires Sale LBO France, one of the country’s oldest private equity firms, may sell its stake in clinic operator Medi-Partenaires SA, three people with knowledge of the decision said.
Confederation of British Industry Urges EU to Reject Private-Equity Law The Confederation of British Industry urged European Union lawmakers to vote against tighter regulation of private-equity firms.
Dubai Holding Said to Start Talks on Rolling Over Some of $12 Billion Debt Dubai Holding LLC, a company owned by Dubai ruler Sheikh Mohammed Bin Rashid Al-Maktoum, and its units owe banks $12 billion and have begun talks to roll over some of the loans, a person with knowledge of the matter said.