Wealth management

Reinsurance Group of America Inc. announced Friday that second-quarter net income declined 67%, to $21.8 million.

Fidelity Investments announced strong second-quarter results for its brokerage unit, Fidelity Brokerage Co.

Synovus Financial Corp. of Columbus, Ga., seems a step closer to naming a new head for its financial management group.

A unit of Lydian Trust Co. of Palm Beach Gardens, Fla., hopes to double the number of banks, trusts, and advisory firms it assists in meeting the investment needs of the very wealthy.

Axa Financial Inc. announced Thursday that it had hired an AIG executive as a vice chairman of its board and the president and chief operating officer of its insurance units, Axa Equitable Life Insurance Co. and Mony Life Insurance Co.

Fidelity Southern Corp., the parent of Fidelity Bank in Atlanta, has formed an insurance agency, LionMark Insurance Co.

American Express Financial Advisors announced Wednesday that it had hired the president of Axa Financial Inc. and a former senior Genworth Financial Inc. executive as vice presidents.

Phoenix Cos. Inc. of Hartford, Conn., has a new flexible-premium deferred variable annuity, Phoenix Dimensions.

A year-old MassMutual Financial Group unit serving retiring baby boomers hopes to attract more assets with RetireMentor, a product that uses both funds and annuities to provide clients with income after they retire.

BlackRock Inc., the New York asset manager majority owned by PNC Financial Services Group Inc., said earnings rose in the second quarter behind strong growth in assets under management.

Health savings accounts are viewed as a promising asset-gathering opportunity for financial institutions, but some say stiff competition and other considerations are limiting profitability.

Citigroup Inc. has been removed from the group of private-sector companies that manage Japanese government pension funds.

Global daily trading volume in exchange-traded funds in the first half of the year increased 18.4% from a year earlier, to $14.8 billion, according to data from Morgan Stanley.

Higher-income African-Americans are less likely to invest in the stock market than higher income white Americans, according to the eighth annual Ariel-Schwab Black Investor survey released Tuesday.

MetLife Inc. said it is leaving the direct insurance business in Indonesia and has agreed to sell its PT MetLife Sejahtera subsidiary there.

For providers of business process outsourcing services, 2005 is shaping up as a difficult year, with potential clients backing away from large deals.

Small banks' brokerage revenue grew during the 12 months through May, outpacing larger banks, whose revenue shrank, according to recent measurements.

Edward Jones had two of the top-performing television ads last month, according to a monthly study of advertising and brand effectiveness at the largest North American financial services companies.