Vanguard Group, the Malvern-based investment giant that employs more than 12,000 in Chester County, says it will transfer out of the company 1,300 workers who handle employers’ 401(k) plans for five million working and retired Americans.
AMP Capital’s $29 billion real estate arm, led by Carmel Hourigan, has been hit with poor returns in its flagship shopping malls fund, as the broader business battles further fallout from the controversial promotion of its new chief executive Boe Pahari following a sexual harassment settlement.
Amid protests over systemic racism, institutional investors, investment consulting firms, and large white-owned asset management firms have released a wave of statements condemning discrimination and praising diversity. Here’s a better idea: Do something.
The battle lines are being drawn over the Department of Labor’s proposed changes to the rules for ESG investing for pension funds and other retirement funds.