Wealth management

TIAA-CREF announced Thursday that it had hired James G. Reilly from Goldman, Sachs & Co. to be a senior vice president and its chief compliance officer.

Prudential Annuities, a subsidiary of Newark, N.J.-based Prudential Financial Inc., said Thursday that it had created two national sales jobs to enhance its focus on distribution through banks, wire houses, and independent broker-dealers.

Fidelity Investments launched an alternative-investment platform on Thursday.

Wilmington Trust said Thursday that it had hired Philip P. Cave from Bessemer Trust's Atlanta office to be the president of Wilmington Trust FSB Georgia.

American International Group Inc.'s appointment Wednesday of Robert B. Willumstad to its board of directors prompted speculation that the former Citigroup Inc. executive could be in line to be the New York insurance giant's next chairman.

T Bank NA, the Dallas commercial bank subsidiary of First Metroplex Capital Inc., said Wednesday that it had applied to the Office of the Comptroller of the Currency to establish trust powers.

Thirty percent annual growth is expected in exchange-traded fund sales, and Vanguard Group, the mutual fund giant, expects to participate in that growth by competing on price despite the fact the market is dominated by three big banking companies.

AIG Financial Products Corp. announced Wednesday that John Cappetta, an executive vice president and the head of North American marketing, will retire March 1.

In a bid to broaden its alternative investments menu, Bank of New York Co. said Tuesday it had agreed to buy Urdang Capital Management Inc., a Plymouth Meeting, Pa., real estate investment management company.

John Hancock Life Insurance Co. said Tuesday that it had hired Harold K. Mosher, who has more than 20 years' experience in the insurance industry, most recently as regional director of agencies for Massachusetts Mutual Life Insurance Co., to be its executive vice president of agency development and sales.

Victory Capital Management, KeyCorp's asset management arm, said Friday that it has a definitive agreement to buy an Austin, Tex., hedge fund company.

BlueCross BlueShield of Tennessee has teamed up with Little Rock, Ark.-based USAble Life Insurance and the Wakefield, Mass., consulting firm Edgewater Technology Inc. to develop a streamlined benefits administration system for employers who offer BlueCross BlueShield of Tennessee health plans.

XL Reinsurance America Inc., a Stamford, Conn., subsidiary of XL Capital Ltd., said Friday that it had named a chief operating officer to succeed James H. Veghte, who was promoted to chairman and chief executive officer last year.

Newton Capital Management, the London asset management subsidiary of Mellon Financial Corp., will make its investment strategies available to U.S. institutional investors this quarter, Mellon announced Friday.

The new ING international fund of funds, part of the company’s just-announced product simplification campaign, is the latest among several recent offerings from financial services providers that seek to streamline complex investment products for retail customers.

The New York-based outsourcing provider Bisys has a deal with Allstate Corp. to distribute long-term-care products and services through the insurer's national agency sales force, Bisys said Thursday.

Fidelity Investments has lost share in the human resources outsourcing market, according to industry analysts, as competitors have made big acquisitions and gathered assets.