Wealth management

Genworth Financial of Richmond, Va., said Wednesday that it has expanded its board from nine to 11 directors, electing Christine B. Mead and Thomas E. Moloney as independent directors.

Mutual fund sales outpaced those of annuities during the second quarter, and more of the same is expected through next year.

Boston Options Exchange said Tuesday has named Tony McCormick, formerly the head of Charles Schwab & Co.'s trade-execution business, as its chief executive.

Babson Capital Management LLC in Springfield, Mass., has hired Glenn Weiner to its consultant relations team.

MFC Global Investment Management in Boston, a unit of Manulife Financial Corp. of Toronto, has expanded its global multisector fixed-income team.

Invest Financial Corp., a Tampa broker-dealer unit of Jackson National Life Insurance of Lansing, Mich., announced Tuesday that it has hired Steve Dowden as president and chief executive.

Bank of New York Mellon Corp. announced Tuesday it has promoted Sheena Wilson to global head of talent strategy.

Grail Advisors, an exchange-traded fund provider based in San Francisco, has a new actively managed fixed-income ETF, the third it unveiled in a week.

First Mercantile Trust Co. in Memphis, a unit of MassMutual Financial Group, has hired C. Edwin Riley as chief investment officer.

Citi Private Bank has hired David Bailin as a managing director and global head of managed investments.

U.S. Bancorp said it has agreed to buy the bond trustee business of First Citizens Bank, a subsidiary of First Citizens BancShares Inc. of Raleigh.

Though Bank of New York Mellon Corp.'s wealth management revenue has slumped, the unit's head is touting its resilience and plotting an aggressive strategy.

The value of mergers and acquisitions during the third quarter in the global asset management business rose from a year earlier as banks continued to shed their fund units, according to a report.

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It's Saturday morning, and sandwiched between segments about designer purses and custom jewelry on QVC, TD Ameritrade is making history, peddling the first wealth management product available on the cable network.

Invesco Ltd., an Atlanta investment manager, has hired K. Stuart Peskin as managing director for client services in its institutional sales and client services team.

Scottrade Inc., a St. Louis online investment company, has hired Jared Macke as its online marketing manager.

Commonwealth Management Partners of Greenwich, Conn., has started a registered investment advisory and wealth management firm.

Confidence among millionaires and affluent investors rose in September, according to Spectrem Group.

Pershing, a unit of Bank of New York Mellon, announced Wednesday that it added Franklin Templeton Investments and MFS Investment Management to its FundVest no-transaction-fee mutual fund platform.