WSJ names asset management reporter

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Ken Brown, the editor of the Money & Investing section of The Wall Street Journal, made the following staff announcement on Friday afternoon:

Mary Pilon will be taking over coverage of the asset management industry. We’ve had this beat in the past, most recently with Tom Lauricella at the helm. Now we’re revving up our reporting on companies like BlackRock, Pimco, Vanguard and Fidelity. These are some of the most important companies in the financial industry, and creating this beat allows us to cover them as well as we do other key players. The beat is part Wall Street, part investing, and it’s full of interesting, very well-paid people. There is inherent interest among our readers, almost all of whom are clients of these firms.

Mary is perfect for this assignment. Not only does she understand investing and personal finance, but she also has a terrific eye for a good story. Mary has made a name for herself writing about movie days at the NYSE, blimps and Jane Austen. More seriously, she has produced terrific stories on short-sellers trying to influence federal policy on for-profit colleges, on how the recession shut down the bank of mom and dad, and, with Jason Zweig, on how financial advisers are using new tricks to dupe investors.

Mary will continue to report to Rob Hunter, and will work closely with Jane Kim and Eleanor Laise, who will continue to cover these companies from the personal-finance side. Mary will also likely collaborate with folks who cover markets, investing and Wall Street.