Eva Thomas

New York

News Reporter at Citywire

https://t.co/jM8tZ9J4av Local news journalist

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Articles

‘Toe-to-toe with any other firm’: LPL CEO is adding alts to take on wirehouses

1 week ago | citywire.com | Ian Wenik |Eva Thomas |Andrew Foerch |Sam Bojarski

The chief executive of independent brokerage giant LPL Financial has ambitious plans for the firm’s alternative investing capabilities this year.
LPL CEO talks 'closing the gap' in alts capabilities versus wirehouses

1 week ago | citywire.com | Eva Thomas

The chief executive of independent brokerage giant LPL Financial has ambitious plans for the firm’s alternative investing capabilities this year.
Morgan Stanley layoffs to hit 7 NYC offices

1 week ago | citywire.com | Eva Thomas

Morgan Stanley will lay off 230 employees in its seven of its New York City offices, Citywire can confirm. The dismissals from the New York offices come just months after plans were revealed for the firm to cut at least 2,000 employees from its 80,000-person global workforce, a roughly 2.5% reduction. This round of layoffs will begin on June 17, according to multiple WARN notices filed with the New York State Department of Labor. Already have an account?
PNC AMG poaches BMO Wealth CIO

1 week ago | citywire.com | Eva Thomas

BMO Wealth Management’s chief investment officer has left the firm to join PNC Asset Management Group (AMG), where he will serve as its chief investment strategist. At BMO, Yung-Yu Ma led asset allocation and portfolio construction for the firm, including decisions regarding BMO’s ETF and mutual fund portfolios. Ma had been with BMO since 2016 and became CIO in 2018.
DOJ, FTC back ESG lawsuit against BlackRock, State Street, Vanguard

2 weeks ago | citywire.com | Eva Thomas

The Department of Justice (DOJ) and the Federal Trade Commission (FTC) are now supporting a lawsuit first filed against BlackRock, State Street and Vanguard by the Texas attorney general claiming that the firms manipulated coal prices to meet shared ESG goals. ‘President Donald Trump understands the importance of coal for our energy security and has vowed to fight left-wing ideologues who seek to make us weaker and poorer under the guise of ESG,’ said FTC Chairman Andrew Ferguson.
Vanguard launches 2 Bond ETFs

2 weeks ago | citywire.com | Eva Thomas

Vanguard has launched two tax-exempt municipal bond ETFs, expanding the firm’s bond ETF lineup. The Vanguard Long-Term Tax-Exempt Bond ETF (VTEL) andthe Vanguard New York Tax-Exempt Bond ETF (MUNY) each have an expense ratio of 0.09% and are designed for tax-sensitive residents of New York.
Cary Street's top gatekeeper urges caution with private credit

2 weeks ago | citywire.com | Eva Thomas

Matthew Rubin, the chief investment officer at Cary Street Partners, said that with the growth of private credit, he is skeptical of managers who might lower their standards to increase yields. ‘I’ve never seen such a proliferation of products in any asset class as I’ve seen in private credit over the last few years,’ Rubin said.
Pitcairn’s top gatekeeper: it's active management's time to 'shine’

2 weeks ago | citywire.com | Eva Thomas

Pitcairn’s chief investment officer, Nathan Sonnenberg, said there’s no better opportunity than right now for active managers to step up, given the recent tariff and economic uncertainty. ‘I can’t think of a better point in time where active managers really have an opportunity to shine, because their objective function is to understand how various companies in their portfolios are either going to be negatively impacted, neutrally impacted, or positively impacted,’ Sonnenberg said.
Trial for former WAM PM Ken Leech pushed to 2026

2 weeks ago | citywire.com | Eva Thomas

Former Western Asset Management co-CIO Ken Leech appeared in federal court in Manhattan for a second time on Monday, and it looks like he won’t be back until spring 2026. Leech is facing several charges stemming from an alleged $600m fraud case that, according to federal prosecutors, are tied to Leech ‘cherry picking’ trades for favored clients over several years.
Former DFA PM lands gatekeeper role at $1.1bn RIA

2 weeks ago | citywire.com | Eva Thomas

Hill Investment Group (HIG), a $1.1bn RIA focused on ‘evidence-based’ investing, is poised to bolster its manager research team of one with a new hire. On June 2, Ryan Clinton will join HIG as a portfolio manager under the firm’s chief investment officer, Matt Zenz. In this new role, Clinton will help Zenz conduct research and due diligence on HIG’s 15 approved funds, which come from four different third-party managers across equities and fixed income.