Insurance giant Equitable Cos. has hired two executives for its fledgling bank division, including one from a mutual fund titan that is a leading seller of portfolios through banks.

The New York-based insurer, which holds $51.4 billion in assets, last week named Michael Rom national sales manager. Mr. Rom had been an assistant national sales manager at Franklin Resources Inc., the San Mateo, Calif.-based fund company that has ranked as one of the top two sellers of mutual funds through banks.

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