Wealth management

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.

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As Morgan Stanley Smith Barney and UBS AG move to more complex management structures, some branch managers are scrambling to rebuild their client books.

Higher variable annuity prices held back new deposits at MetLife Inc. in the third quarter as investment losses pushed the insurer to its third quarterly loss in a row.

International merchant bank and money manager Lazard said it has hired former Fiduciary Trust adviser Sharon Klein to oversee the delivery of trust and estate-planning services to its private clients in the United States.

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Volatile redemptions from and investments in mutual funds are due not just to market returns but also to an entirely different approach investors are taking to fund ownership, according to a report from ReFlow.

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.

With employers nationally shaken by retirement plan losses, Prudential Financial Inc. is hoping a bundled package of products can help it draw assets from a skeptical marketplace.

Bear Stearns Private Client Services has recruited more than 70 financial advisers in 2009 — the most in its history — and plans to open two or three new offices next year, its first office openings in 15 years.

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

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.

Larry Roth, the chief executive of AIG Advisor Group, has a hefty task ahead as he looks to rebuild the beleaguered unit that American International Group Inc. chose not to divest in August.

UBS AG announced that it has hired former Merrill Lynch & Co. executive Robert J. McCann as the head of wealth management in the Americas.

Franklin Resources Inc.'s fiscal fourth-quarter earnings rose 22% amid investment gains and as assets under management increased.

The number of retirement savers putting money into 401(k) plans increased even as the stock market was in shambles and the economy weakened, according to Charles Schwab Corp. data issued Tuesday.

James Lockhart, vice chairman of WL Ross & Co., said he is seeing "significant desire" for private-equity capital from small and midsize banks that did not get federal aid.

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.