Wealth management

Ameriprise Financial Inc., an asset management company spun off from American Express in 2005, said fourth-quarter net income increased 54% from a year earlier, to $171 million, or 69 cents a share.

Lower catastrophe costs and growth from property/casualty and retail products businesses helped Hartford Financial Services Group Inc. post strong fourth-quarter earnings growth.

A.G. Edwards & Sons Inc., a St. Louis investment manager, launched a unified managed account program.

Northern Trust Global Investments Ltd., the London asset management unit of Northern Trust Corp., announced that Barry Sagraves, its chief executive officer, is leaving the company.

Federated Investors Inc.'s fourth-quarter profits from continuing operations increased 3.3% from a year earlier, to $53.1 million, or 51 cents a share, on stronger market conditions and an acquisition.

T. Rowe Price Group Inc. announced Friday that quarterly profits increased 27% from a year earlier, to $148.9 million, or 53 cents a share, as assets under management rose to a record level.

Equity Services Inc. introduced a unified managed account platform to enhance its fee-based offerings.

Wachovia Securities LLC says its recent hiring of a MetLife Inc. executive is part of an initiative aimed at better selling the parent bank's credit, deposit, and lending services to their roster of investment customers.

Deutsche Bank AG's asset management arm has agreed to buy a minority stake in Aldus Equity, a Dallas asset manager specializing in private equity investments.

Jackson National Life Insurance Co., a Lansing, Mich., unit of Prudential PLC, has launched a family of mutual funds to diversify its mix of investment products.

Janus Capital Group Inc. said growth in assets under management led to a 13.2% increase in fourth-quarter profits from a year earlier, to $37.7 million, or 19 cents per diluted share.

Two life insurance units of American International Group Inc. have launched a bilingual customer services call center for Hispanic individual life insurance policyholders.

First Republic Bank, a San Francisco private bank, has hired Richard Lombardozzi, an executive from TD Banknorth Inc., to be a managing director in the foreign exchange group.

Money Management Executive

Scottrade Inc., a St. Louis online investment firm, has launched an television and online advertising campaign.

BlackRock Inc. said its fourth-quarter more than doubled from a year earlier, to $169.4 million, or $1.28 per diluted share.

Pacific Investment Management Co. LLC, a Newport Beach, Calif., firm majority owned by Allianz AG of Munich, promoted Daniel J. Ivascyn and Mark V. McCray to managing director.

Morgan Stanley Private Wealth Management has hired a cross-border team of 10 investment professionals to serve the Latin American market.