Bill Ackman, founder and CEO of hedge fund Pershing Square Capital Management LP, "clearly believes that the economy would be better off" with more activist investors in the large-cap space, asserts Eileen Nugent, a partner at Skadden, Arps, Slate, Meagher & Flom LLP. James Morphy, a partner at Sullivan & Cromwell LLP, shares similar sentiments at Tulane University Law School's Corporate Law Institute in New Orleans, where Ackman delivered a keynote. - Sarah Hashim-Waris
Goldman, Sachs & Co. veteran Tracy Caliendo will join Bank of America Merrill Lynch in September as a managing director and head of Americas equity hedge fund services. For other updates launch today's Movers & shakers slideshow.