Wealth management

Hedge fund assets rose 24% last year, to $1.89 trillion, according to a report by HedgeFund.net.

Evergreen Investments, the fund management unit of Wachovia Corp., has named Robert Junkin the managing director and lead portfolio manager for its Evergreen Health Care Fund.

Marsh Inc., a New York risk and insurance services firm, named chief operating officers for three of its core business sectors on Monday.

John Hancock Life Insurance Co. announced Friday that it sold more long-term care insurance than any other carrier last year, according to data released by Limra International.

Axa Group Inc. announced it has reached an agreement with Kyobo Life Insurance Co. to acquire its 75% stake in Kyobo Auto.

Deutsche Bank Private Wealth Management opened offices in downtown New York and Miami for Deutsche Bank Alex. Brown, its U.S. private client services division.

LaSalle Bank launched a global fund services business to expand its global structured financial services business and enter the alternative investment market.

The insurance broker Arthur J. Gallagher & Co. announced that it has bought the Coral Springs, Fla., agency Producer's Choice Inc.

HOLLYWOOD, Fla. — The importance of tearing down company silos as a prelude to succeeding in wealth management may be conventional wisdom in the industry, but executives at plenty of banks acknowledge that following through on the concept remains difficult.

Jackson National Life Insurance Co., a Lansing, Mich., unit of the British firm Prudential PLC, said net income fell 8.8% last year, to $542 million.

The Hartford Financial Services Group, Inc. announced Wednesday it is launching a marketing campaign encouraging Baby Boomers to “Prepare to Live” in retirement.

SunGard says rising interest in unified managed accounts is helping it initiate relationships with midsize banks, and the president of its adviser technologies unit expects to continue to move down market.

The online bank and brokerage company E-Trade Financial Corp. said Wednesday that its average number of client trades per day rose 3.2% in February.

Placemark Investments Inc. promoted Scott Egner to national sales manager and senior vice president.

Ryan Beck & Co. of Florham Park, N.J., has opened an office in Bel Air, Md.

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