Wealth management

Money Management Executive

Citigroup Inc.'s alternative investments unit agreed to buy Carlton Hill Global Capital LLC, a New York money manager specializing in credit derivatives.

BB&T Corp. has hired Mike Woody as a sales and service leader for the private financial services group in its Charlotte wealth management unit.

Phoenix Cos. Inc., a Hartford, Conn., company that sells an array of life insurance, annuities, and investment products, said its third-quarter operating income fell 9.3% from a year earlier, to $34.2 million, or 30 cents a share.

Oppenheimer & Co. Inc. has agreed to settle charges regarding the data it produced about its mutual funds.

Wachovia Wealth Management plans to follow its Charlotte parent's "horseshoe" geographic strategy as it enters markets in Texas, Arizona, and California.

Despite employers' increased adoption of automated 401(k) plan features, employees continue to struggle with proactively saving and investing for retirement, according to a survey by Hewitt Associates.

MBIA Asset Management, a unit of the New York insurer MBIA, plans to launch two inflation-protection funds for institutional and retail investors, pension funds, and high-net-worth individuals.

The WisdomTree Trust unit of WisdomTree Investments Inc. has a new small-cap emerging markets exchange-traded fund.

Fidelity Investments is cutting retail fees for secondary market bond trades.

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

Concord Equity Group Inc., a Matawan, N.J., provider of outsourced wealth management services, hired David Mittelman a managing director. Mr. Mittelman will plan, organize, and direct administrative and operational support functions.

Evergreen Investments, the asset management arm of Wachovia Corp., has hired Kent Baur as managing director and senior portfolio specialist for its London subsidiary, European Credit Management.

U.S. Bancorp has become the latest large bank to roll out a unified managed account platform.

OppenheimerFunds Inc., a New York unit of Massachusetts Mutual Life Insurance Co., has hired Darren Walsh as an executive vice president and the president of its OppenheimerFunds Services, which provides transfer agency services.

John Hancock Retirement Plan Services, a Boston unit of Toronto's Manulife Financial Corp. and a leading defined contribution plan provider, has entered the defined-benefit business by launching a platform.

ProShares, a Bethesda, Md., unit of ProFunds Advisors LLC that provides exchange-traded funds, is launching a series of short international exchange-traded funds.

New York Life Insurance Co. promoted Frank Boccio to executive vice president and chief administrative officer.