Matt Ackermann

Dow Jones Indexes said Tuesday that it has hired Tariq Al-Rifai as its director of Islamic indexes.

American International Group Inc. has hired Robert H. Benmosche, formerly of MetLife Inc., as president and chief executive officer.

Foundation Source, a Fairfield, Conn., company that provides support services for private foundations, announced Tuesday that it has hired Frank M. Maiorano as executive vice president of sales.

A Charles Schwab survey says that 39% of mutual fund investors have changed their portfolio allocations since the stock market began to decline.

BNY Mellon Asset Servicing, a Boston unit of Bank of New York Mellon Corp. that provides securities servicing, announced Monday that it will supply outsourcing support to managed accounts covering more than $200 million in client assets at Mesirow Financial, a Chicago financial services firm.

Huntington Funds, a unit of Huntington Bancshares Inc. in Columbus, Ohio, announced Monday that it had introduced three asset allocation funds.

Now that Putnam Investments has reduced fees to keep up with larger competitors, the looming questions are whether other midsize fund companies will be compelled to do the same (odds are, yes) and whether this will work (early predictions say no).

Greenhill & Co. Inc., an independent New York investment bank, announced Monday that it had hired Samuel L. Ginn as a senior adviser.

Evercore Partners Inc. has hired Mark H. Burton as a senior managing director in its advisory business.

Wilmington Trust may have to make some tough choices soon, but its chairman and CEO Ted T. Cecala is doing all he can to deflect speculation that it has reached a crossroads.

Though many financial firms stopped introducing variable annuity products in the past year, MetLife took another course: It launched a simplified version ...

FundQuest, a provider of managed accounts, has adjusted its recommended allocation to include three additional alternative asset classes on its open architecture platform for advisers: commodities, hedge-style funds and international bond funds.

Bank of New York Mellon Corp. and Northern Trust Corp. plan to focus on internal growth until economic conditions steady rather than match some of their competitors' avid search for acquisitions.

Northern Trust Corp. announced Tuesday that its chairman, William A. Osborn, plans to step down on Nov. 11.

State Street was the first trust bank to present 2Q earnings, and its chairman and CEO Ronald Logue set the stage for the rest of the industry by sketching out ...