Wealth management

Ixis Asset Management Group, a Chicago wealth manager, says it will increase distribution through banks and registered investment advisers to add to its assets under management.

Arthur J. Gallagher & Co. has acquired William H. Connolly & Co. of Montclair, N.J.

Great-West Lifeco Inc. of Winnipeg, Ontario, announced Thursday that its U.S. subsidiary, Great-West Life and Annuity Insurance Co., has agreed to buy U.S. Bancorp’s bundled, full-service, defined-contribution business.

The holiday bonus for advisers at a number of banks has become a thing of the past, replaced with what some say are more effective ways of motivating workers.

The new chief investment officer at Dreyfus Corp. said his mission is more about improving fund performance at the New York mutual fund company than parent Mellon Financial Corp.'s desire to consolidate brands.

New York Life Insurance Co. has added four retirement income specialists to its wholesale team to increase distribution of its annuities through banks.

Janus Capital Group Inc. has launched an international equity fund.

T. Rowe Price Inc. announced it was one of the 10 investment managers selected to provide investment management for China's National Council for Social Security Fund.

State Street Global Advisors said its exchange-traded funds have received exemptive relief from the Securities and Exchange Commission.

SaveDaily.com Inc., a Seal Beach, Calif., open-architecture record-keeping technology provider, is marketing a 401(k) plan to Realtors nationwide.

The Federal Home Loan Bank of Cincinnati has approved Western-Southern Life Assurance Co. for membership.

First Republic Bank hired Randy Peterson, a U.S. Trust executive, as a managing director in the San Francisco bank's investment management arm, Trainer Wortham & Co.

The president of Evergreen Investment Management Co. LLC's institutional arm is aiming for much faster new-asset growth next year as the Wachovia Corp. unit continues to use a multiboutique strategy to attract investors.

Pershing LLC, a subsidiary of Bank of New York Co. Inc., will provide clearing, trading, and a financial services outsourcing platform for Sun Life Financial Group's Independent Financial Marketing Group Inc.

Tompkins Trustco Inc.’s Tompkins Insurance Agencies Inc. subsidiary signed a letter of intent to buy H.A. Carey Co. of Ithaca, N.Y.

Legg Mason said Monday that it would begin offering retirement-class shares on Friday in 11 flagship funds managed by its investment subsidiaries.

Bank of New York Trust Co., a subsidiary of Bank of New York Co. Inc., was appointed custodian of about $3 billion of assets for the Idaho Treasurer's Office, the bank announced Monday.

Wachovia Corp.'s securities lending business has been selected as the third-party securities lending agent for the New York State Teachers' Retirement System, the Charlotte banking company said Monday.