Wealth management

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.

Seeking to increase sales through banks and credit unions in two key regions, VantisLife Insurance Co. says it plans to hire executives in the Midwest and California next year.

Barclays Global Investors' iShares unit, the largest provider of exchange-traded funds, launched an emerging-markets Eastern Europe ETF.

Glenmede Trust Co. in Philadelphia has announced that it will open a New York City office and that it hired Glenn Switzer to be a senior member of its New York team as a first vice president and portfolio manager.

Symetra Financial Corp. has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of common stock.

Cullen Capital Management in New York introduced the Cullen Small Cap Value Fund on Tuesday.

RBC Wealth Management's international arm in London has announced the promotion of Matthew Yong and Frank Mu to president and chief executive officer, respectively, of its Asian operations.

The Financial Industry Regulatory Authority on Monday warned of a phishing scam that uses counterfeit Finra e-mails to promise investors compensation from auction-rate securities settlements in exchange for personal information.