Wealth management

Assets in U.S. exchange-traded funds rose 1.1% last month, to $422 billion, according to data released by State Street Global Advisors.

Lincoln National Corp., the fourth-largest U.S. life insurer, said its fourth-quarter profits increased 16% from a year earlier, to $381.3 million, or $1.36 a share.

UBS AG has hired the former president and chief executive officer of U.S. Trust Co. to run its U.S. private bank.

Hartford Financial Services Group Inc. has announced the promotion of Sharon Ritchey to senior vice president and chief operations officer of the U.S. wealth management group.

Bank Investment Consultant

MetLife Inc. said it has hired Kieran Mullins to run the life insurance underwriting and new business operations.

Ivy Asset Management Corp., a Bank of New York unit that offers hedge funds of funds and alternative investments, has announced the hiring of a chief investment officer.

Wells Fargo & Co. said Monday that it has changed the name of its insurance brokerage arm.

Arthur J. Gallagher & Co. has announced the purchase of InterNational Insurance Group Ltd. of Boston.

Turner Funds, a Berwyn, Pa., company, said it has started two no-load stock funds, a growth portfolio and a midcap equity fund.

Hartford Financial Services Group Inc. has promoted Robert Arena to senior vice president of retail investment product management in its U.S. wealth management division.

Comerica Inc.’s retirement services unit says it increased its sales fourfold in 14 months after shifting to an open-architecture platform.

Evergreen Investments, the asset management arm of Wachovia Corp., announced that it had completed its purchase of a majority interest in the privately held European Credit Management Ltd. of London, a fixed income investment manager with $26 billion under management.

ProShares Inc. has unveiled 22 exchange-traded funds on the American Stock Exchange.

Guardian Life Insurance Co. of America has introduced a guaranteed minimum withdrawal rider with variable annuities issued by Guardian Insurance and Annuity Co.

John Hancock has announced the introduction of a fully guaranteed whole-life insurance product.

GRAND RAPIDS, Mich. - Beginning February 1, 2007 Farmers and Foremost Insurance invite agents to put the pedal to the metal and "Drive for 55". This is just one way that Foremost will celebrate 55 years serving the insurance industry in June 2007.