Jun 9, 2017

Exclusive: Guggenheim Partners CFO leaving for tech startup role

Brad Olson has resigned as chief financial officer of Guggenheim Partners, in order to join cloud-based enterprise software company Mezocliq as its first-ever president, Axios has learned. He has been with Guggenheim since late 2011, after stints with Nomura Securities, Merrill Lynch and Citigroup.

Why it matters: Guggenheim Partners is a massive investment and advisory firm, with more than $260 billion in assets under management. It's led by Mark Walter, who also owns the LA Dodgers, and will promote chief accounting officer Michael Levatino to the CFO role.

Next move: Mezocliq was founded by veteran tech CEO Vikas Kapoor, and focuses on enterprise data governance. Guggenheim, which declined comment for this story, is a client.

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Fear of coronavirus pandemic escalates

Photo: Abdulgani Basheer/AFP/Getty Images

In the blink of an eye, we've entered a new phase on the coronavirus.

The big picture: Italy, Iran and South Korea are at "decisive" points in their responses, the World Health Organization said on Thursday.

Stocks fall 4% as sell-off worsens

A trader on the floor of the New York Stock Exchange. Photo: Johannes Eisele/AFP via Getty Images

Stocks fell more than 4% on Thursday, extending the market’s worst week since the financial crisis in 2008 following a spike in coronavirus cases around the world.

The big picture: All three indices are in correction, down over 10% from recent record-highs, amid a global market rout. It's the S&P 500's quickest decline into correction territory in the index's history, per Deutsche Bank.

Go deeperArrowUpdated 2 hours ago - Economy & Business

Coronavirus updates: California monitors 8,400 potential cases

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

33 people in California have tested positive for the coronavirus, and health officials are monitoring 8,400 people who have recently returned from "points of concern," Gov. Gavin Newsom said Thursday.

The big picture: COVID-19 has killed more than 2,800 people and infected over 82,000 others in some 50 countries and territories. The novel coronavirus is now affecting every continent but Antarctica, and the WHO said Wednesday the number of new cases reported outside China has exceeded those inside the country for the first time.

Go deeperArrowUpdated 3 hours ago - Health