Wealth management

AST Trust Co., a Phoenix division of American Stock Transfer and Trust Co., said Tuesday that it had bought Capital Trust Co. of Delaware.

After more than doubling its variable annuity sales through banks last year, John Hancock’s bank annuity operation expects double-digit growth this year, its president says.

Hartford Financial Services Group Inc. said Monday that its 401(k) plan sales and deposits of $3.2 billion set a company record last year, with a 31% increase from 2004.

The American Funds group of Capital Research and Management Co. became the biggest holder of stock and bond fund assets last year, at nearly $847 billion, besting the two long-time leaders, Vanguard Group and Fidelity Investments, according to the Investment Company Institute.

Contango Capital Advisors Inc., Zions Bancorp.'s wealth management arm, has announced plans to begin outsourcing its investment platform to other companies, potentially including some small banks.

American International Group Inc. said Thursday that it would take an after-tax charge of about $1.15 billion in connection with its $1.64 billion resolution of claims and investigations by the Securities and Exchange Commission and the New York attorney general.

NYSE Regulation announced Thursday that it had censured and fined Bear, Stearns & Co. Inc. $1.5 million for alleged trading violations.

Deutsche Asset Management, the global asset management business of Deutsche Bank, said it had hired Stephane Amara Wednesday to direct its alternative and quantitative business development group in Canada and Eddie Vandiver to direct the counterpart group in the United States.

Union Bank of California’s consolidation of its insurance agencies under one brand should give it an edge as it tries to nearly double its annual insurance revenue within three years, to $150 million, the insurance unit’s chief says.

Foundation Source, a provider of support services for private foundations, has announced that it had 74% growth last year in the number of foundations it serves and 129% growth in assets under administration.

Evergreen Investments, Wachovia Corp.'s wealth management arm, unveiled Wachovia Global Asset Management Wednesday, a unit intended to expand its institutional asset management prowess overseas.

Putnam Investments announced Wednesday that it had added three executives to its institutional investment product teams.

Hartford Financial Services Group Inc. announced Wednesday that it had hired Matthew R. Kirk, an aide to President Bush, to be its vice president of federal affairs.

The Louisville, Ky., health-care account provider SHPS said Tuesday that it has signed a processing deal with First Data Healthcare Services, a division of Greenwood, Colo.-based First Data Corp., and UMB Bank Healthcare Services, a division of UMB Financial Corp. in Kansas City, Mo.

Principal Financial Group Inc. in Des Moines has reported improved fourth-quarter operating earnings of $217.9 million, up 9.1% from the year earlier.

JP Morgan Asset Management said Tuesday that it will start a mutual funds business in India in the second half of this year.