Wealth management

The TCF National Bank subsidiary of TCF Financial Corp. of Wayzata, Minn., has selected Independent Financial Marketing Group Inc. to provide brokerage and general insurance services.

After a buying push in the past five years to expand nationally, Wilmington Trust Corp. says it plans to focus on organic growth to expand its assets before looking to acquire in other wealthy markets.

Massachusetts Mutual Life Insurance Co. hired John W. Chandler as a senior vice president and chief marketing officer for its U.S. insurance group.

New York Life Insurance and Annuity Corp. launched the NYLIAC Instant Legacy, a single premium universal life insurance policy that gives customers the flexibility to convert and transfer assets, from various savings, money market accounts and certificates of deposit into a life insurance policy.

A sweeping approach to relationship management it started implementing two years ago is a big reason Allstate Life Insurance Co. of Northbrook, Ill., now tops the list of fixed annuity sellers through banks, an executive said.

China’s multi-billion dollar national social security fund signed agreements with Northern Trust Corp. and Citigroup Inc. to act as trustees for its foreign investments.

BB&T Corp.’s move to offer health savings accounts through its branches is exciting, analysts said, but could encounter the same difficulty that has hampered other banks trying to offer the product to retail customers.

Bank of New York Co. Inc.'s Pershing LLC said its broker-dealer customers now have access to RiverSource Annuities' products through the Subscribe annuity platform.

First Hawaiian Bank has launched a wealth management platform through a strategic partnership with FundQuest Inc. of Boston.

Pacific Life Insurance Co.'s annuities and mutual funds division announced Tuesday it formed a retirement resource group.

ORLANDO - Merging mutual funds typically takes six months, primarily due to requirements of both the IRS and the SEC, but this has not discouraged deals - one in six funds was merged out of existence from 1962 to 1999.

Nearly half the large banks and third-party broker-dealers in a broad new survey plan to add to or pare back their annuity providers - and the carriers' financial strength will be the key to which ones make the cut, according to a study released today.

The funded status of U.S. pension plans fell 0.2%, on average, in September as liabilities rose 1.7% and assets grew only 1.5% in a typical, moderate-risk benchmark portfolio, according to a Mellon Financial Corp. index released Friday.

Scott Hayes, a Citigroup Inc. private banker, has added a topic to his repertoire for cocktail party conversations: microfinance.

Barclays Global Investors announced Friday that Patricia C. Dunn — a day after being booked on felony charges of allegedly spying on reporters and company directors at Hewlett-Packard Co., where she was chairman until her recent resignation — had resigned as nonexecutive vice chairman at the global asset management firm.

Pershing LLC, a Jersey City subsidiary of Bank of New York Co. Inc., has announced the availability to its broker-dealer customers of Ameritas Life Insurance Corp.’s annuity products.

The investment chief for PNC Financial Services Group's wealth management division credits the company's early adoption of open architecture for its recent 8.08% growth in assets under management.