Deals & People January 27, 2011

Man Group Names Head of U.S. Consultant Relations

Man Group, an alternative asset management company, hired Miriam Tai as Head of U.S. Consultant Relations.
Reported by

Tai is responsible for advising on the full range of Man’s products and services to the U.S. investment consultant community. She is based in Man’s New York office and reports to Raffaele Costa, Managing Director and Head of Sales for North America and Europe.  

Tai joins Man from Blackrock, where she was a director of Global Consultant Relations and responsible for managing the firm’s relationships with strategic investment consultants. She spent over five years at BlackRock and Barclays Global Investors, overseeing relationships with strategic investment consultants. She also worked in the Fixed Income division of Goldman Sachs and in the Structured Finance Division of Stone and Youngberg LLC.   

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Tai received her BA from the University of Chicago and her MBA from the Haas School of Business at the University of California at Berkeley.  

Compliance January 27, 2011

$5M Settlement for Comcast Stock Drop Case

A federal judge in Pennsylvania approved a $5-million settlement of a Comcast Corp. stock drop class action suit.
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Chief U.S. District Judge Harvey Bartle III of the Eastern District of Pennsylvania includes a cash settlement to be paid to about 36,000 Comcast workers involved in the suit, as well as requirements that the company make changes in its 401(k) program. Those changes must include:

  • investment advisory services to all class members for a period of three years;
  • annual diversification notices sent to all plan participants holding more than 10% of their account balance in company stock;
  • annual fiduciary training for members of the plan’s investment committee;
  • no action to limit plan participants’ ability to sell their Comcast stock for three years.

In April, Bartle certified the suit filed by lead plaintiff Janell T. Moore as a class action. Moore alleged that because the value of company stock was inflated, it was no longer a prudent investment for the 401(k) plan (see “Court Clears Path for Stock Drop Class Action“).

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