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Janus Jabber Turns to Talent Flight
Updated from 11:50 a.m. EDT
Founder Tom Bailey will sell his last Janus shares within four months, rekindling speculation that high-profile fund managers will flee the shop known for tech-heavy growth funds.
Parent Stilwell Financial (SV) agreed Wednesday to buy Bailey's remaining 600,000 Janus shares for some $603 million. Bailey will stay on as the Denver fund shop's chairman and CEO, but will relinquish his right to appoint the majority of the Janus board. The firm's top fund managers issued a statement later Wednesday indicating they have no plans to leave. ...
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