Wealth management

National Investment Managers Inc., a Dublin, Ohio, retirement plan administration and investment management company, announced it has closed its deal to acquire the third-party administration firm Alaska Pension Services Ltd.

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ING Group NV of the Netherlands has completed its $900 million purchase of CitiStreet LLC from Citigroup Inc. and State Street Corp.

Genworth Financial Inc. has a new product called RetireReady IRA Annuity that it says combines the traditional benefits of an individual retirement account with the ability to provide a guaranteed income stream, the Richmond, Va., company said Monday.

The head of JPMorgan Funds has handed responsibility for the company's growing registered investment adviser business to a lieutenant.

Baron Funds, a unit of Baron Capital Group Inc. of New York, has a new retirement income fund.

New York Life Insurance Co. announced Tuesday that it has promoted Ted Mathas to chief executive officer.

Adviser confidence in the economy and stock market declined in June, according to Rydex AdvisorBenchmarking.

MassMutual Retirement Services, a unit of Massachusetts Mutual Life Insurance Co., has been selected by Blue Bird Corp., a bus manufacturer in Fort Valley, Ga., as the new full-service provider for its $90 million defined benefit plan and its $65 million 401(k) plan.

First Tennessee Bank's wealth management business has been slowed by the slumping stock market but should be reinvigorated by a new fee-based platform.

Vanguard Group has a new international fund, the Vanguard Total World Stock Index Fund.

A deal Wilmington Trust Corp. announced last week shows that expanding its corporate client services business remains a top priority for the Delaware company, which remains hampered by problems in its money management units.

Federated Investors Inc., a Pittsburgh investment manager, has two more portfolio managers in its Federated Kaufmann portfolio management group with the hiring of John Leibee and the promotion of Jonathan E. Gold.

BlackRock Inc. promoted Paul L. Audet to vice chairman and hired Ann Marie Petach as its chief financial officer.

Tremont Capital Management announced that its chairman, Robert Schulman, will retire July 7.

Northern Trust Corp. of Chicago announced that it has agreed to buy Lakepoint Investment Partners LLC, a Cleveland company that serves individual investors, corporations, pension and retirement programs, and foundations and endowments.

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Modern Bank, a New York private banking company, plans to increase its banking assets organically but wants to use acquisitions to turn its asset management platform into a multiboutique one, according to its incoming chief executive officer.

Wilmington Trust Corp. of Delaware announced Wednesday that it has agreed to buy UBS Fiduciary Trust Co. of Weehawken, N.J., a provider of trust and investment management services for retirement plans, from UBS AG of Zurich.