Wealth management

Since being bought by Bank of Montreal’s Harris Bank in 2002, myCFO Inc. has lost clients, and Harris is not pushing products through the Redwood City, Calif., family-office service company.

Payden & Rygel announced Monday that it had started a derivatives-based global equity fund for institutional clients in Europe.

Prudential Retirement, an arm of Prudential Financial Inc. in Newark, N.J., has announced the hirings of Safia Mehta and Geri Carroll for its investment products and advisory services team, which introduced eight institutional investment products last year.

A former Citigroup Inc. executive who oversaw its mutual fund unit is fighting Securities and Exchange Commission allegations that he acted improperly.

New York Life Investment Management said Monday that it had hired Jae Yoon to be a managing director of its investment consulting group.

Clark Consulting, an executive benefits and compensation consulting firm, said Monday that David E. Gordon has been hired for its western regional office.

Cendant Corp. in New York said Monday that it will take a $17 million charge to fourth-quarter earnings as a result of a verdict Friday in a Tennessee court against its subsidiary, Progeny Marketing Innovations, in a contract dispute with American Bankers Insurance Company of Florida and certain affiliates.

The Van Global Hedge Fund Index fell 0.2% last month, according to a preliminary report Monday by Van Hedge Fund Advisors International LLC in Nashville.

Allianz Life Insurance Co. of North America said Friday that it has hired Baron Carr to be vice president of multicultural marketing.

Minnesota Life in St. Paul has given Brent Lesmeister, a group life sales manager, expanded sales responsibility in the South, it said on Friday.

ING Funds, a division of ING U.S. Financial Services, has announced the introduction of a line of targeted, value-oriented mutual funds for investors seeking to diversify their portfolios.

TIAA-CREF, a New York-based teachers retirement company that also provides 529 college savings accounts, announced Thursday that it has opened 16 offices.

Confidence among affluent investors fell in January after a strong bounce in December.

First Niagara Bank’s purchase this week of an Ithaca, N.Y., agency gave its insurance subsidiary a foothold in an area it considers “very attractive” — and where a local competitor, Tompkins Trustco Inc., bought an agency at the turn of the year.

Transamerica Investment Management said it has started three institutional funds for clients with a $250,000 minimum investment.

Susquehanna Bancshares Inc. makes wealth management a high priority and is looking for acquisitions like last week’s purchase of a Delaware retirement benefit plan specialist to broaden its capabilities and boost revenue, its CEO said in an interview Friday.