Wealth management

Two years ago Bruce Wolfe, then newly hired to lead wealth management efforts at Webster Financial Corp. of Norwalk, Conn., said he planned to double assets under management in four or five years.

Gartmore Investment Management of Columbus, Ohio, a mutual fund operation mostly owned by Nationwide Mutual Insurance Co., announced Tuesday that it is considering an initial public offering.

The Northern Trust Corp. division that provides personal financial services for the wealthy said Tuesday that it had opened another East Coast office, in Boston.

Insurance companies looking for an edge in the competitive retiree market are creating early-withdrawal options for their variable annuities, largely to attract baby boomers nearing retirement.

Moody's Investors Service will upgrade its "investment management quality ratings," its assessment of money managers.

Guatemala's central bank has hired State Street Corp. to provide global custody, accounting, and performance measurement services for $3.3 billion of assets.

R. Glenn Hilliard, Conseco Inc.'s chairman, has relinquished the executive responsibilities he held for one year.

The online broker Ameritrade Holding Corp. said earnings this quarter should be at or near the high end of its previous forecast

Fidelity and Guaranty Life Insurance Co. of Baltimore, a subsidiary of Old Mutual PLC of London, has adopted a new strategy for annuity distribution.

AmerUs Group Co. has hired a Charles Schwab Corp. veteran as an executive vice president and its chief information officer.

Massachusetts Mutual Life Insurance Co. is offering a new renewable-term rider for its whole-life and modified-premium whole-life products.

The Houston private client services firm Stanford Group Co. plans to open an Austin office this fall and has hired a Merrill Lynch & Co. veteran to run it.

BlackRock Inc. has hired a new chief financial officer: Steven E. Buller, a co-director of Ernst & Young LLP's global asset management services practice.

ING Group Inc. calls it the Simplicity Variable Annuity and one expert calls it an overdue offering that stands to be popular with banks overwhelmed by more complex annuities.

Third Point LLC, a New York investment management firm, has hired James Kelly for the newly created jobs of president and chief operating officer.

Affluent investors' confidence fell in August amid concern about higher oil and gas prices, according to Spectrem, a Chicago research and consulting company.

The Ohio Tuition Trust Authority has added savings accounts and certificates of deposit from Fifth Third Bank of Cincinnati to its 529 savings program as more states turn to banks to enhance their college savings options.