Wealth management

Despite posting strong fourth-quarter results, MetLife Inc. maintained relatively low expectations for this year as executives and analysts remained wary about the year ahead for the insurance industry.

Capital One Financial Corp. is selling several insurance lines that it obtained through its 2005 acquisition of Hibernia Corp.

Charles Schwab Corp. announced Wednesday that it had client assets of $1.267 trillion at the end of January, up 16% from a year earlier.

Money Management Executive

CHICAGO — Years after losing key brokerage staff as the company faced charges over its sales practices, Marsh & McLennan Cos. is beginning to reattract some of those who left.

Arthur J. Gallagher & Co. announced Monday that Susan McGrath has joined the company as its corporate vice president and chief human resource officer.

JPMorgan Chase & Co. said on Monday that it is preparing to introduce an investable index replicating the returns of hedge funds, thus joining a growing number of investment bank rivals and asset managers in offering low-fee products as hedge fund alternatives.

Arthur J. Gallagher & Co. an Itasca, Ill., international insurance brokerage and risk management services firm, said it plans to acquire Elite Benefits Insurance Marketing Services Inc. of Irvine, Calif.

The National Association of Securities Dealers Inc. warned seniors about the potential pitfalls of selling their life insurance polices for cash.

The National Association for Variable Annuities plans to announce today that it is leading an effort to implement standards to simplify paperless sales of annuities.

Confidence among affluent investors declined last month, according to a study by Spectrem Group, a Chicago research firm.

John Hancock Financial Services Inc., a Boston subsidiary of Manulife Financial Corp., said it has enhanced its guaranteed death benefit variable universal life insurance policy by adding an extended no-lapse guarantee rider.

John Hancock Financial Network, the distribution system of John Hancock Life Insurance Co., has announced the promotion of Brian B. Heapps to executive vice president of sales and business development.

Principal Financial Group said it had promoted Chris Calos to vice president of group sales.

Robeco Investment Management, the New York asset management arm of the Dutch company Robeco Group, said it is expanding distribution into the financial intermediary and separately managed account channels.

Affiliated Managers Group Inc. announced it has started a sales, servicing, and distribution platform in Sydney.

Dreyfus Corp., tired of its plain-vanilla image, has launched 10 mutual funds in little more than a year and plans to introduce more this year, its chief executive officer said, as it looks to regain a position as an innovator in the market.