BusinessWeek – Paul Hechmer had just interviewed for a job with a large asset manager when he got unsolicited advice from an investment consultant: Start your own firm.
Hechmer, who had quit Nuveen Investments Inc. on June 15, listened and last month opened Los Angeles-based Del Rey Global Investors LLC. He’s one of at least half a dozen managers who are beginning to go after investors this year, including David Marcus, formerly with Franklin Resources Inc., and ex-TCW Group Inc. investment chief Jeffrey Gundlach, who started his first mutual funds on April 6.
