Wealth management

State Street Global Advisors, State Street Corp.'s investment management arm, launched six exchange-traded funds that focus on emerging markets.

Catalpa Capital LLC, a New York hedge fund company, opened last week.

Citigroup Venture Capital International, the private equity arm of Citigroup Inc., has bought a 19.9% stake in a brokerage firm in India.

PrimeVest Financial Services, an ING Group NV unit that provides third-party brokerage services exclusively for banks and credit unions, plans to offer balance-sheet management and trust services.

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ING Group NV announced that Randall Ciccati, the president and chief executive officer of Primevest Financial Services and the head of advisory services for ING Advisors Network, will become the president of ING Advisors Network on April 1.

American International Group Inc. announced that its AIG Global Investment Group received approval to set up an office in Tianjin, China.

Raymond James Financial Inc., a St. Petersburg, Fla., brokerage firm, announced Thursday that it is selling its stake in an Indian joint venture, ASK-Raymond James Securities India Pvt. Ltd.

Northern Trust Corp. was named the best U.S. private banking company by Euromoney magazine in its annual rankings.

Prudential Investments of Newark, N.J., has broadened the offerings in its managed account platform it has offered to midsize banks since 2004 to develop deeper relationships with them.

Nationwide Mutual Insurance Co. of Columbus, Ohio, named John H. Grady president of one of its retail arms, NWD Investment Management Inc. of Philadelphia.

The online brokerage Scottrade Inc. of St. Louis is opening its sixth Houston-area branch office.

Money Management Executive

Dimensional Fund Advisors of Santa Monica, Calif., has a new chief financial officer, David Martin, who resigned from that post this month at Janus Capital Group Inc. of Denver.

Charles Schwab & Co. said it has added a target date fund oriented toward retirement dates in 2050.

Hartford Financial Services Group Inc. has promoted Kevin Kirk to vice president and director of national sales for its retirement plans group.

MassMutual Retirement Services has hired Jamie Axford to be vice president of key account management.

Because of effective cross-selling, TD Banknorth Inc.'s insurance brokerage fee income increased more than 30% last year.