Matt Ackermann

Bank of New York Mellon Corp.'s wealth management division has hired two executives in Florida as it expands sales and portfolio management in the Southeast.

Dreyfus, a unit of the asset management arm of Bank of New York Mellon, has announced the start-up of the Dreyfus Brazil Equity Fund.

Less than three months after Boston Private Financial Holdings Inc. sold it to a group of private investors, Gibraltar Private Bank and Trust Co. is bulking up its assets and its adviser team.

T. Rowe Price Group has promoted Mike Gitlin to director of its fixed-income division. Gitlin, who was global head of trading for the Baltimore fund company, will succeed Mary J. Miller, nominated by President Obama on Oct. 5 to become the next assistant secretary for financial markets in the Treasury Department.

Hedge funds attracted $150 billion of new assets in the first nine months of the year, a Barclays Capital report said. Hedge fund managers surveyed said assets under management were down an average of 32% from peak levels, but they remained positive about adding more funds.

Raymond James Financial Services is one of the biggest names in wealth management — just not in the Northeast, one of the nation's most coveted markets. Glenn Fischer is aiming to change that.

Focus Financial Partners LLC in New York, partnership of independent wealth management companies, announced Monday that LLBH Private Wealth Management has joined as a partner firm.

Northern Trust Corp. announced the hiring of Fifi Ting to head sales and client service for its asset management arm, Northern Trust Global Investments, in the Asia-Pacific region, excluding Japan.

Despite heavy losses in their portfolios, most high-net-worth investors are sticking with their financial advisers, according to the Northstar/Sullivan Rebuilding Investor Trust Survey.

BlackRock Inc. announced in a regulatory filing that it plans to introduce a portfolio to give high-net-worth investors access to difficult-to-obtain hedge funds.

A new incentive package at UBS AG's Wealth Management Americas may be not be lucrative enough to retain the U.S. brokerage unit's most productive financial advisers.

Vanguard Group announced Thursday that it has named F. William McNabb, its president and chief executive officer, to succeed John J. Brennan on Jan. 1 and become the third chairman in the firm's history.

Disenchanted with mutual funds, some investors are turning to a pair of online registered investment advisory firms to create managed accounts that mimic the investments of preselected managers.

With many of the larger integrations from its Merrill Lynch acquisition complete, Bank of America Corp. can now take advantage of some subtler cross-selling opportunities, starting with retirement planning.

New York Life Investments is expanding its lineup of stand-alone, stable-value offerings by adding products and increasing distribution to include third-party channels.

Assets held in exchange-traded funds increased 7.3%, to $739 billion, in November from a month earlier, according to data released Tuesday by State Street Global Advisors.

State Street Global Advisors has a new strategy called the U.S. Community Investing Index.

First Foundation Advisors, a unit of First Foundation Inc. of Irvine, Calif., has hired Alan G. Remedios as managing director of fixed-income investments.

First Midwest Securities Inc. in Bloomington, Ill., has hired J. Eric Hagler as president.

MetLife Inc. said Monday that it expects this quarter to be its first profitable one since last year's fourth quarter.