Matt Ackermann

Wilmington Trust Corp. of Delaware has hired Linda L. Bourn as a managing director in its wealth advisory services business to serve ultra-high-net-worth and family office clients.

Bank of New York Mellon Corp. has promoted Brian Ruane to the newly created position of chief executive of alternative investment services.

Wells Fargo Insurance Services Inc., a unit of Wells Fargo & Co., has named Todd Wartchow senior finance officer.

Bank of America Merrill Lynch announced enhancements Wednesday to its donor-advised fund, the Bank of America Charitable Gift Fund.

A new initiative by Phoenix Cos. Inc. of Hartford, Conn., rests on the belief that financial services companies are still interested in life insurance — just in a different way.

The New York private-equity firm Lightyear Capital LLC announced Tuesday that it has signed a definitive agreement to buy the ING Advisor Network and three of its five broker-dealers.

BNY Mellon Asset Management's first foray into private equity turned heads this week because many wealth managers are shying away from the sector.

The San Francisco company said at a news conference in New York that its first four ETFs will begin trading today with four more to follow in December. The funds will have expense ratios ranging from 8 basis points to 35 points and offer commission-free online trading.

BNY Mellon Asset Management has bought a 20% stake in Siguler Guff & Co. LLC, a multistrategy private-equity firm with $8B of assets under management and committed capital.

MassMutual Retirement Services, a unit of Massachusetts Mutual Life Insurance Co., has announced that September was its best sales month ever.

Affiliated Managers Group Inc., a Boston asset management company, announced that it had hired Joseph A. Germain as a managing director of global distribution.

Analysts expected Boston Private to use proceeds from several divestitures this past quarter to repay its federal aid. Not so fast, said its chairman and CEO.

U.S. institutional investment plan sponsors posted a second consecutive quarter of strong gains, according to data released by Northern Trust Corp.

CIBC Mellon Global Securities Services has completed the acquisition of the unitholder record keeping and fund administration business of Felcom Data Services.

Raymond James Financial Inc. is closing in on approval of a charter switch that it hopes will let it make more loans.

Bank of America Corp. wants to remind everyone that Merrill Lynch & Co. is more than just a sideshow. Trying to move beyond the lawsuits and congressional hearings, Bank of America will finally start using Merrill Lynch & Co. for what it intended when the Charlotte company bought the beleaguered investment bank in January — to develop wealth management products.

Fidelity Investments has introduced an online platform for retail investors, broker-dealers and advisers to trade international stocks and exchange foreign currencies.

Logue, 64, has worked for the Boston company for almost two decades. He will continue to serve as non-executive chairman of State Street's board of directors until Jan. 1, 2011.

Lighter-than-anticipated trading hampered results at custody banks in the third quarter and is tempering expectations of a quick recovery.

As chairman and chief executive of State Street, Ronald Logue's business is asset-servicing and management. These clients are joining in a swell of consolidation expected to gain further momentum.