Wealth management

Fund sales in Europe and Hong Kong declined in June, according to separate reports.

Fitch Ratings affirmed a stable ratings outlook Friday for Cigna Corp. and its lead operating subsidiary, Connecticut General Life.

SunTrust Banks Inc. said it had hired a former Deutsche Bank and Citigroup Inc. executive to run its private wealth management group.

It's a long way from North Sea oil rigs to a bank in Jamestown, a town of about 33,000 in Upstate New York. But as unlikely as his career shift sounds, Timur Tyra, a senior financial adviser at Key Investment Services, says it was not so illogical.

Declines in its Asian businesses and accounting for hedges forced second-quarter earnings down 29% at American International Group Inc., despite growth in the general insurance and life insurance divisions.

Lincoln National Corp.’s April 3 closing of its purchase of Jefferson-Pilot Corp. allowed it to report an enormous second-quarter profit increase, but analysts said that, without the deal, the results were up only mildly.

Nine of 18 insurers that distribute variable annuities through financial advisers affiliated with Raymond James Financial Inc. have begun offering less expensive variable products, the St. Petersburg, Fla., brokerage announced.

Massachusetts Mutual Life Insurance Co. may introduce a series of products and services tailored for women after spending four years working to improve how the company markets and sells to them.

Mellon Capital Management Corp., an investment unit of Mellon Financial Corp.'s asset management arm, said Tuesday that it had received $100 million of funding to pursue its long-duration, alpha-plus strategy.

Assets held in hedge funds increased by 4.18% in the second quarter, according to data released Tuesday by Tremont Capital Management Inc.

Principal Financial Group announced Tuesday that it had hired Chris Calos from American International Group Inc. to be a vice president in its national accounts division.

ProShare Advisors LLC, a Bethesda, Md., exchange-traded fund manager, announced Monday that it had hired Robert Holderith to be a vice president and the national sales manager for ETF products.

GlobalBridge Inc., a Minneapolis open architecture managed account provider, says it plans to launch a platform to help trust banks gather institutional assets.

Fremont Michigan InsuraCorp Inc., a Michigan provider of property and casualty coverages, said Monday that its second-quarter earnings grew 51.2%.

CitiStreet is using an improved product roster and a veteran sales staff to make inroads in the competitive small-business retirement market, the unit’s chief says.

Banc of America Securities has named Patrick Coleman the head of global markets institutional sales.

Aon Corp. reported a 1% increase in second-quarter earnings from a year earlier, to $193 million, or 57 cents a share. Slow growth elsewhere countered a strong performance in North America, the Chicago insurance broker said Friday.

Willis Group Holdings Ltd., a London insurance broker, announced a deal to buy the majority of the retail and all the reinsurance business of MGT Group, a Chile provider of insurance services and employee benefits to corporate clients.