Wealth management

Oneida Financial Corp., the parent of Oneida (N.Y.) Savings Bank, said Thursday that it has a letter of intent to buy an employee benefits consulting and retirement plan administration firm in Syracuse, N.Y.

Asset Marketing Systems Insurance Services LLC, a fixed annuity distributor, has introduced a wholly owned broker-dealer subsidiary to serve registered representatives.

Hub International Ltd. of Chicago said Thursday that it had bought Employee Benefit Specialists Inc.

TD Banknorth Inc. in Portland, Maine, announced Thursday that it had closed its purchase of Boothby & Bartlett Co., an insurance agency in Waterville, Maine.

Fidelity Investments' Charitable Gift Fund has jumped on the open architecture bandwagon in a bid to satisfy donors, many of them high-net-worth, who have requested a broader investment menu.

Wilmington Trust Corp. has announced the introduction of seven mutual funds to bring to a wider group of investors several investment strategies successful with high-net-worth individuals and families.

Shrinking assets under management and rising compliance costs forced First Tennessee Bank to yield to the same realities that had pushed other midsize banks out of proprietary fund management in the past couple of years.

The U.S. property/casualty insurance industry's net income after taxes rose 4.4%, to $28.8 billion, in the first nine months of 2005 from the year earlier, according to data from ISO and the Property Casualty Insurers Association of America.

American National Bank and Trust Co., a subsidiary of American National Bankshares Inc. in Danville, Va., has announced new leadership for its trust and brokerage activities as of Jan. 1.

Pentegra Retirement Services, which sells retirement products and services to community banks, has announced the choice of State Street Global Advisors to manage its more than $1 billion of qualified plan assets.

AIG SunAmerica Asset Management Corp., the Los Angeles mutual fund and asset management business of AIG SunAmerica Retirement Services, said it had started a large-cap portfolio that is to invest in both growth and value stocks.

PacifiCare Behavioral Health Inc., a Santa Ana, Calif., unit of PacifiCare Health Systems Inc., said Tuesday that it had introduced a mental health care program that includes online and phone-based services.

Mellon Financial Corp.'s private wealth management group plans to expand aggressively over the next two years by growing organically and making strategic acquisitions.

Aon Consulting Worldwide announced Tuesday that it had promoted the head of its defined contribution practice to executive vice president and southeast region head.

Genworth Financial has announced the departure from its board of Dennis D. Dammerman.

Applications in North America for individually underwritten life insurance came closer to the 2004 rate in November, MIB Group Inc. said Friday.

Mellon Financial Corp. has announced the hiring of Erik Knutzen to be director of sales, marketing, and client service for its Standish Mellon Asset Management subsidiary.