Wealth management

Citigroup Inc. continued a recent hiring spree in its private banking unit, adding two regional executives from Barclays Wealth, a unit of Barclays PLC.

Bank of New York Mellon Corp. announced Monday that it has agreed to buy BHF Asset Servicing GmbH from BHF-Bank Aktiengesellschaft for $343 million.

American International Group Inc. on Monday announced a definitive agreement to sell American Life Insurance Co. to MetLife Inc.

As many as 88% of bank brokerage programs now offer fee-based accounts, Ken Kehrer, director of research at Kehrer-Limra, said in a presentation Sunday at the Bank Insurance and Securities Association's annual conference in Hollywood, Fla.

With debt financing still tough to come by, private-equity investors are teaming up with deep-pocketed corporations to find new transactions and help finance their deals.

What seems like a minor back-office move could make a world of difference to Bank of America clients and wealth advisers.

IMGCAP(1)]

Registered investment advisers are thinking outside their more typical client prospecting and communications streams and product mix this year.

Baird Private Wealth Management's recruiting spree might be nearing an end despite the firm's best intentions.

In an effort to attract customers and assets, Bank of America Merrill Lynch is offering employers a tool to help them gauge employees' success at saving for retirement within a 401(k) plan.

IMGCAP(1)]

As a member of Citigroup Inc.'s internal advisory board, Linda Descano had heard from myriad female executives who said they wanted to talk about money but felt they couldn't for one reason or another.

Hedge fund assets grew 62% last year, to $1.96 trillion, a level not seen since the precrisis days of 2007, according to Hennessee Group LLC.

Adviser confidence in the economy and the stock market declined in February.

After a little more than a year at the helm of Umpqua Bank's wealth management business, Kelly Johnson can point to some big accomplishments — but also to all the work he has left to do.

Ask a broker why 12b-1 fees exist and there will be a variety of answers: they cover marketing and distribution costs; processing and record-keeping costs in a 401(k) plan; payment for brokers; and sale of fund shares. The word brokers often leave out is: profit.

American International Group Inc. agreed to sell an Asian life insurance unit with 20 million customers to Prudential PLC for $35.5 billion in the company's biggest divestiture since it was bailed out by the U.S.

Being owned by a bank has handcuffed many mutual fund units. Just don't tell that to J.P. Morgan Funds. The JPMorgan Chase business line increased its assets under management 6.97% last year, to $445 billion, and now has its sights set on developing more assets through banks.

For more information on this data, visit Novantas LLC and Market Rates Insight.

Talk about a generation gap. The 133-year-old broker-dealer Jesup & Lamont, which helped raise money for John D. Rockefeller's Standard Oil Co., is merging with Tri-Artisan Capital Partners, an eight-year-old merchant bank.