Wealth management

Marsh Inc., a New York risk and insurance services company, said it had hired Rob McGinnis to lead its U.S. consumer business, which includes the U.S. operations of its private-client services businesses.

Fidelity Investments has introduced a series of fund-of-funds wrap portfolios in Canada.

Scotiabank Group added three senior executives it said would accelerate the growth of the Toronto company's asset management business.

Builders Insurance Group has announced the resignation of William J. Lohmeyer, its president and chief executive officer, to pursue other opportunities.

Massachusetts Mutual Life Insurance Co.'s new retirement income unit plans to expand distribution of sophisticated retail investment and planning products beyond its agency force to include broker-dealers and banks.

Boston's Putnam Investments has agreed with Taiwan-based Cathay Securities Investment Consulting, a subsidiary of Cathay Financial Holdings Co., to offer its mutual funds in Taiwan.

The new president of State Farm Bank said 15% to 25% annual growth is a reasonable target for the bank over the next five years even after amassing assets of $13.6 billion in its nine years.

Alabama National BanCorp. has a deal to sell its insurance subsidiary.

UMB Financial Corp. of Kansas City, Mo., has hired Gregory Jerzyk as an executive vice president for the company and director of portfolio management for its wealth management arm, UMB Investment Advisors.

The Denver operations of Jackson National Life Insurance Co. of Lansing, Mich., have moved to a larger, 183,000-square-foot space.

JPMorgan Worldwide Securities Services is offering two new sevices to help institutional investors increase risk-adjusted returns.

WorldCommodity Funds Inc. of Atlanta reported that its first mutual fund, launched Oct. 27, has had a 14.33% return since its inception and had a return of 10.9% in the first quarter.

Columbia Management Advisors LLC of Boston, a Bank of America Corp. subsidiary, announced Wednesday that it has agreed to sell its Colonial closed-end fund management business to MFS Investment Management, a Boston subsidiary of Sun Life Financial Inc. of Toronto.

Money Management Executive

JPMorgan Chase & Co. plans further expansion in Boston this year for its funds servicing business, which expects to complete a transfer services acquisition this quarter.

WisdomTree Investments Inc., an exchange-traded fund firm started nine months ago, is gearing up to enter the retirement market.

Vanguard Group Inc. has introduced four bond exchange-traded funds that began trading on the American Stock Exchange Tuesday.