Gametime Closes On $13.3M VC Funding Tribune Media Bullish On MLB Ratings Morgan Stanley Offers Loans To NFL Draftees CBS Quarterly Profits Up, But Revenue Down Puma's Profits Fall 30% In Q1 Disney's Q2 Income Up Despite ESPN Costs Adidas' Net Profits Rise In Q1 Stats LLC Acquires U.K.-Based Prozone Aussie Social Media Company Buys Into BigTeams Callaway Profits Beat Q1 Expectations
Upcoming Conferences and Events
STATE STREET WANTS TO BECOME SAFE ROAD FOR PRO ATHLETES
Published October 9, 1997
MA-based State Street Research & Management Co. is creating a new division within its Private Client Group to provide investment management for professional athletes. Run by former Bruin Derek Sanderson, State Street will offer its line of mutual funds and individually managed accounts to target the financial needs of pro athletes. State Street President & CEO Ralph Verni: "Derek Sanderson is a well- known and highly regarded individual in both the sports world and business world. ... His knowledge and reputation, combined with our investment capabilities and experience, will make State Street Research the logical choice for professional athletes" (State Street Research). In the FINANCIAL TIMES, John Authers reported that Sanderson "already has 90 clients under his wing, mostly from ice hockey," with combined projected salaries for the next year of $50M (FINANCIAL TIMES, 10/6).