Wealth management

ING Group NV's U.S. life insurance business has found a wealth of new assets by selling term-life products to lower- and middle-income individuals through niche marketing and alternative distribution channels.

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State Street Global Advisors, the investment management arm of State Street Corp., announced that it has introduced the SPDR S&P Emerging Markets Small Cap Exchange-Traded Fund.

BlackRock Inc. announced that it has hired Craig Phillips to run its financial markets advisory group.

Fidelity Investments said that it had introduced an international equity fund.

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Vanguard Group announced that it has added Edinburgh Partners Ltd. as a subadviser to its international value fund.

WisdomTree Investments Inc. said Tuesday that it had introduced an actively managed, exchange-traded fund.

BNP Paribas' new investment unit, Fridson Investment Advisors, specializes in corporate credit and stresses transparency in an effort to stand out in a crowded field of alternative investment managers.

ING Group NV has named Valerie Brown president of its retail annuity market segment, which is part of its wealth management group in New York.

Wells Fargo & Co. in San Francisco said Monday that its health savings account deposits have grown 41% for the year to date, to $264 million.

Wilmington Trust Corp. has launched a subsidiary in Amsterdam Monday to expand its corporate product and service offerings in Europe.

Two subsidiaries of Genworth Financial Inc. of Richmond, Va., have launched a group guaranteed income annuity product for consumers who have planned for retirement but remain at risk of outliving their savings.

New York Life Retirement Plan Services hired William R. Kline as vice president of sales for the Southeast.

Wachovia Corp. plans to phase out the 121-year-old A.G. Edwards name, sacrificing a strong brand for a stronger one, as a Wachovia executive put it.

Massachusetts Financial Services Co. has established an investment research office in Sydney.

Wachovia Corp. promoted John Papadopulos to president of its retirement and investment product group.

Franklin Templeton Investments has made its small-cap growth fund available to retail investors.