Wealth management

Rreef Alternative Investments, Deutsche Bank Asset Management's global alternatives asset management arm, said it has closed its deal to acquire a minority interest in Rosen Real Estate Securities LLC, a Berkeley, Calif., long/short real estate investment adviser.

Envestnet Asset Management Inc. said Monday that it has made additions to its Sustainability Platform that will let advisers customize traditional separately managed accounts and unified managed accounts with socially responsible screening tools.

The plan by New York Life Insurance Co.'s investment management arm to change a subsidiary's name has some industry observers speculating the subsidiary could be for sale.

New premiums for individual life insurance fell 11% on an annual basis in the third quarter, according to Limra International Inc.'s sales survey report.

Despite difficult market conditions that have yielded poor investment returns, individual investors are maintaining their retirement savings and continuing to invest in their 401(k) plans, according to Hewitt Associates' annual retirement study.

Fidelity Investments has hired Charles G. Goldman, an executive vice president and head of Schwab Institutional, to be its president of institutional platforms in the Fidelity institutional products group.

Putnam Investments, a Boston subsidiary of Great West Lifeco Inc., has hired Daniel C. Farrell to head its equity trading.

American International Group Inc. said it will still pay 130 managers "cash awards" to stay with the firm, including $3 million to retirement services chief Jay Wintrob.

Hartford Financial Services Group Inc. is banking on its wholesalers — and an emphasis on fee-based distribution channels — to carry its mutual fund and 529 college savings plan businesses through the market turbulence, says the head of those businesses.

Vanguard Group has announced the addition of two firms to its Vanguard Morgan Growth Fund's investment advisory team.

Victory Capital Management Inc., KeyCorp's asset management arm, announced that it had introduced two funds, Victory International and Victory International Select.

Aquiline Capital Partners LLC, a New York private-equity firm that invests in financial services, has announced that Deborah L. Bernstein and Jason A. Rotman joined the firm as investment professionals.

The $600 million in new assets that Horizon Cash Management captured in the third quarter could be a sign of things to come for the Chicago company and other cash managers.

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American International Group Inc., under pressure to limit executive compensation after a government bailout, froze pay and scrapped bonuses for seven top leaders and said chief executive officer Edward Liddy will get a $1 salary.

New York Life Investment Management has announced that its equity investors group will become Madison Square Investors LLC on Jan. 1.

Arthur J. Gallagher & Co., an Itasca, Ill., insurance brokerage, has announced that its subsidiary, Risk Placement Services Inc., bought Continental Special Risks Inc., a Roswell, Ga., wholesale broker and managing general agent.

Morgan Keegan & Co. Inc., a Memphis unit of Regions Financial Corp., is expanding its fixed-income capital markets division beyond its traditional market in the Southeast.

Nationwide Funds Group, the mutual funds complex of Nationwide Financial Services Inc., is suffering along with other fund companies as the stock market sinks.

Hartford Financial Services Group Inc. hired Michael R. Chesman as a senior vice president and an associate general counsel and director of tax law.