AXA Rosenberg execs sell stake to parent company - UPDATED

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US - AXA Rosenberg's cofounders are selling their 25% stake in the firm to its parent company and Barr Rosenberg will step down from the board two months after the company announced a coding error in its investment process.

In a letter to clients released yesterday, officials at the firm said AXA Investment Managers (AXA IM), which currently owns 75% of the company, will purchase the remaining stake. As part of the...

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