It’s not the kind of safe collection most corporations build. Lowry, the MoMA’s director, told the Times in 2002 of UBS’s collection. “This is a major art collection that just happens to be a corporate collection,” Glenn D. īorn in Goshen, New York, in 1934, Marron attended the City University of New York’s Baruch College until 1951, when he departed to join the New York Trust Co.’s research department. His arts leadership positions also included serving as vice chairman of the board of the California Institute of the Arts in Valencia and as a member of the President’s Committee on the Arts and Humanities. He appeared on the ARTnews Top 200 Collectors list for decades. His name and that of his wife, Catie Marron, grace the museum’s soaring second-floor atrium, which debuted with its 2004 expansion. Marron was elected president of MoMA’s board in 1985, a position he held until 1991, when he was given the title president emeritus. Scores of works from the company’s holdings have been donated to the Museum of Modern Art in New York, where he became a board member in 1975. Following Paine Webber’s merger with UBS, its art trove became the UBS Art Collection. Susan Rothenberg, for instance, painted a work for its corporate dining room. Marron also saw to it that the firm commissioned new work from artists. He died of a heart attack in New York, according to his wife, Catie Marron. for 20 years until the retail brokerage’s 16 billion sale to UBS AG in 2000, has died. “You have to have an office, so why not look at a Jasper Johns rather than a reproduction?” Marron told Fortune magazine in that 1999 piece. Donald Marron, the art collector and financier who led Paine Webber Inc. While running Paine Webber, he purchased for the firm more than 850 works by contemporary artists such as Jenny Holzer, Jasper Johns, Chuck Close, Ed Ruscha, and Andy Warhol. Marron was a major patron of the arts and “an advocate of art in the workplace,” as the New York Times put it. “He’s always been like a minnow swallowing a whale, but somehow he always ends up on top,” one of Marron’s peers said in a 1999 story in Fortune. In 2000, he helped engineer its $12 billion sale to the Swiss investment giant UBS. In 1980, he was tapped to run the firm, which he set out to expand by focusing on high-net-worth clients and moving into investment banking. to the research company Mitchell Hutchins & Co., which he sold in turn to Paine Webber in 1977. After interviewing new lead manager Donald Morgan, who previously co-managed the fund, S&P decided the fund's investment style and philosophy have not been altered with the shift in management.Huang Yongyu, Chinese Artist Behind Controversial Zodiac Stamp, Dies at 98Ī sequence of deals positioned him to become one of his generation’s key investment figures. Standard & Poor's affirmed the status of the MainStay High-Yield Corporate Bond FundĪs a "select fund." The fund was placed on watch due to a management change in May. Franklin Templeton plans to merge the fund into Franklin Growth & Income 16 in preparation for the elimination of the fund, S&P reports. ![]() Will close to new investors after the end of trading on Oct. ![]() Survivors include his wife, Florence daughters, Patricia McGroary (Dan), Mary Ellen Vanaken. Ivy is recommending the merger as a means of combining funds that have "virtually identical investment objectives and a similar geographic focus," the company said in papers filed with the Securities and Exchange Commission. Born Septemand passed peacefully in his sleep November 21, 2019. Subject to shareholder approval, Ivy Pacific Opportunities, formerly Ivy China Region, will absorb the Asia Pacific fund. Out of existence, reports Standard & Poor's. Ivy Funds intends to merge its struggling Ivy Asia Pacific Through Investors Management Group, Amcore provides capital management and mutual fund administrative services, and it's the investment adviser for the Vintage family of mutual funds. "Our strategic objective is to invest in high-growth areas, and the possible sale of these branches will give us the opportunity to reallocate our capital to further that objective," Chairman and CEO Robert J. The branches, all of which are in Illinois, represent approximately $170 million in loans and other assets and $310 million in deposits. Said it's considering the sale of 10 branches in an effort to focus on asset management and tailoring products for business customers in selected Midwestern markets. The PaineWebber Strategy, Tactical Allocation, Financial Services Growth, Enhanced S&P 500 and Enhanced Nasdaq 100 funds will continue to be managed by Mitchell Hutchins. "Our focus is on what we do best and what the marketplace looks to us for - specialization in quantitatively driven investments, short-term strategies, municipal securities, as well as proven performance," Chief Executive Brian M.
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