Mellody Hobson takes Ariel Investments in new directions
For the first time, Ariel is moving into exchange-traded funds, which have been squeezing fee income collected by traditional money managers like Ariel. Ariel also recently disclosed novel plans to make direct investments in other companies under a program designed to create minority-owned firms and expand others. And a new office in San Francisco, its third, aims to corral tech and other West Coast wealth. Hobson's expanding influence marks a turning point for Ariel, a leading Black-owned firm in Chicago. Founded by Rogers in 1983, it's also one of the city's few significant mutual fund comp...
Source: chicagobusiness.com