A Seat at the Table

Mandatory retirement? AB Funds thinks it might not be necessary

By Hillary Jackson

Five of the seven independent directors overseeing Alliance Bernstein's 94 mutual funds are 70 years old or older, and Chairman Marshall Turner is just fine with that. A robust self-assessment process and regular, intentional refreshment keep the board functioning at its highest level and can alleviate the need for a ... >> CONTINUE READING <<<

Thrivent forms board to oversee new interval fund

By Hillary Jackson

Thrivent Financial is entering the interval fund business and has assembled a new board to oversee its first offering, the soon-to-be-launched Thrivent Church Loan & Income Fund. George Morriss will serve as independent chairman, and he told Fund Board Views in an interview that the board is seeking one or ... >> CONTINUE READING <<<

Capitol Series Trust board makeover boosts capacity, flexibility

By Hillary Jackson

The board of Capitol Series Trust is headed into its third-quarter meeting next month with twice as many members and a lot more flexibility to fulfill its governance and oversight mandate. The makeover of the board—which now includes three female and three male directors—was nearly a year in the making ... >> CONTINUE READING <<<

Putnam's Baxter reflects on 50 years in financial services

By Hillary Jackson

When Jamie Baxter retires from the Putnam Funds board at the end of this month, it will mark the culmination of more than 50 years of work in and dedication to the financial services industry. She started on Wall Street in the mid-1960s when women generally were relegated to certain ... >> CONTINUE READING <<<

Diamond Hill Funds board takes unique approach to governance

By Hillary Jackson

The board overseeing Diamond Hill Funds has implemented a series of governance policies that set it apart from many other boards in the mutual fund space and are designed, in part, to align directors more closely with shareholder interests. For example, Diamond Hill Funds directors are all independent, overwhelmingly female, ... >> CONTINUE READING <<<

Led by Hartstein, PGIM Funds board tackles recruitment, ETFs, more

By Hillary Jackson

Keith Hartstein has been busy since retiring in 2012 from John Hancock Funds, where he'd served as CEO for seven years and at which he'd worked for 22 years. One year after retiring, Hartstein joined the Prudential Investments retail funds board as an independent director; at the beginning of 2017, ... >> CONTINUE READING <<<