Wealth management

Clinton Group Inc., an $8 billion New York investment management firm, has hired the global chief executive officer of Deutsche Asset Management to be its president and chief operating officer.

The $1.19 billion-asset West Bancorp. Inc. of West Des Moines announced Monday that it had agreed to acquire a fixed-income manager from Amcore Financial Inc. of Rockford, Ill.

Enterprise Financial Services Corp. of Clayton, Mo., the parent of Enterprise Bank and Trust, announced Monday that it had bought Millennium Brokerage Group, a Nashville life insurance advisory and brokerage firm.

T. Rowe Price Group of Baltimore announced Monday that James S. Riepe, a vice chairman, will retire Dec. 31.

Hartford Financial Services Group Inc. of Simsbury, Conn., has added 14 investment options from four new money managers for the variable life insurance offerings of its individual life division.

Ameriprise Financial Inc. of Minneapolis, the financial planning firm that American Express Co. spun off Sept. 30, has 1% fewer financial advisers than a year ago, it Ameriprise announced Monday.

Savings Bank Life Insurance Co. of Massachusetts said Friday that it has a sales partnership with Rockland Trust Co. under which SBLI's life insurance products are sold in more than 50 Rockland Trust branches in southeastern Massachusetts and Cape Cod.

Vanguard Group announced that it has introduced an interactive and personalized account statement for participants in employer-sponsored retirement plans.

Bank executives are touting holistic financial planning advice as a strategy to attract assets from the baby boomer generation, but few banks actually offer fully integrated guidance to customers, according to recent research by SEI Investments.

Merlin Securities, a broker-dealer specializing in prime brokerage, said it had hired a former Bank of America executive Thursday to be a managing director.

Jefferson Pilot Financial, a Greensboro, N.C., provider of universal and variable universal life insurance and fixed annuities, has introduced two index annuities, including one available only in banks.

Financial Industries Corp. has added a retired insurance executive to its board of directors.

Nuveen Investments Inc., a Chicago investment services provider, announced Wednesday that its earnings rose 11% in the third quarter.

American Century Investments appointed a Morgan Stanley executive Wednesday to be an executive vice president, with responsibility for the Kansas City, Mo., mutual fund company's financial and administrative functions.

Banks and other financial services providers are increasingly marketing variable universal life insurance as an investment option that can address the financial needs of retirees, particularly those interested in transferring wealth, according to industry observers.

JPMorgan Worldwide Securities Services, a global provider of custody and securities services, said Wednesday that Lee Munder Capital Group had chosen its outsourcing services for a separately managed accounts program.

Global Transaction Services, a unit of Citigroup Inc.'s corporate and investment banking division, said Wednesday that it had signed a definitive services agreement with Janus Capital Group for the Denver asset management company's retail separately managed accounts business.