Wealth management

John Hancock Life Insurance Co. introduced a suite of long-term care insurance products for individual investors in California.

Northern Trust Corp. announced Wednesday that Terence J. Toth will step down as president of the Chicago company's asset management arm effective Friday.

New York Life Insurance Co. has announced the promotions of Sara Badler to senior vice president and deputy general counsel and Richard Taigue to first vice president and deputy general counsel.

BB&T Insurance Services, the insurance arm of BB&T Corp., announced Wednesday that it will buy Reese Insurance Associates Inc. in Riverdale, Ga., to expand its Atlanta-area operations.

Nationwide Financial Services Inc.'s sales of variable annuity in the bank channel rose 26% in the first quarter from a year earlier, to $402 million.

Symetra Life Insurance Co. has introduced a variable annuity, Symetra Focus, that features index investment options from Vanguard Group.

Deutsche Bank's asset management division said Wednesday that Randy Brown and Robert Goodman are to be co-heads of global insurance asset management.

State Street Global Advisors, the investment management arm of Boston's State Street Corp., has announced the introduction of a family of fixed-income exchange-traded funds.

Aetna Inc. said it had agreed to buy a Phoenix company that manages health care for Medicaid plans and administers employers' self-funded health plans. The Hartford, Conn., insurer said Thursday that it had a $535 million deal for Schaller Anderson Inc. that is expected to close next quarter.

Sovereign Bancorp Inc.'s wealth management business is young — it was started just six years ago — and, with only about $1 billion of assets under management, it remains a relatively small part of the $82-billion asset Philadelphia company.

Pershing LLC, a Jersey City unit of Bank of New York Co. Inc., announced Tuesday that it had introduced an open architecture platform to let broker-dealer companies offer clients a range of managed accounts from turnkey asset management providers.

Barclays Global Investors, the asset management arm of Barclays PLC in London, had more inflows in April into its U.S. stock and bond funds than any other asset manager, according to monthly data from Financial Research Corp. in Boston.

Pioneer Investments, a Boston fund company, has announced the introduction of Pioneer Diversified High Income Trust.

Aetna Inc. announced that it has agreed to buy a Phoenix company that manages health care for Medicaid plans and administers employers' self-funded health plans.

The sales and marketing director of Comerica Inc.'s wealth and institutional management division says the unified managed account platform the division began using the same month he was hired is off to a fast start.

eMoney Advisor has a new wealth management product called eMoney 360.