Wealth management

Axa Equitable Life Insurance Co. of New York has opened a Farmington, Conn., headquarters office for its wholesale life insurance distribution channel.

National Planning Holdings Inc., a broker-dealer holding company in Santa Monica, Calif., announced that it named James Livingston as its chief executive to succeed Shawn Dreffein, who is retiring today.

Money Management Executive

New York Life Investment Management LLC, a New York Life Insurance Co. subsidiary, hired Jack Benintende as a managing director.

Bank of New York Co. Inc. announced that it has completed the conversion of the custody business segments in Europe, Middle East, and Africa that it received as part of its acquisition of JPMorgan Chase & Co.'s corporate trust business.

Lockwood Financial Services Inc. says it will soon start offering investment advisers at banks and elsewhere the chance to help manage the company's unified managed accounts.

The property/casualty insurer James River Group Inc. announced that it has agreed to be sold to the New York hedge fund manager D.E. Shaw Group for $575 million in cash.

Wells Fargo Insurance Services of Chicago announced a pair of executive hirings.

Hartford Financial Services Group Inc. of Connecticut promoted Thomas Marra to president and chief operating officer.

Charles Schwab Corp. announced Tuesday that it has lowered its prices for bond trades.

The New York insurance broker Marsh Inc., a unit of Marsh & McLennan Cos. Inc., named John C. Butcher head of its Chicago office.

Since joining UMB Financial Corp. 12 months ago to develop its wealth management business, Clyde Wendel has given clients access to outside money managers and added a midcap fund to UMB's proprietary family.

Hartford Financial Services Inc. of Connecticut has two new fixed-income funds and a new fund of funds.

Mellon Financial Corp. of Pittsburgh named William G. Caster regional president of Ohio for its private wealth management group.

HSA Bank, a subsidiary of Webster Financial Corp. of Waterbury, Conn., has hired Kevin Robertson as vice president of national sales.

State Street Corp. of Boston named Thomas E. Eichenberger senior director of business development for its institutional investor sales team.

TD Ameritrade Holding Corp. of Omaha named Fred Tomczyk its chief operating officer to succeed Randy MacDonald, who retired June 1.