Wealth management

MetLife Inc.'s retirement and savings unit announced Wednesday that Ibbotson Associates Advisors will make its plan sponsor investment advisory service available to small and midsize defined contribution plans that MetLife administers.

A recent flurry of hedge fund deals by banking and other financial services companies increased their stake in the alternative investment products business, and analysts said this appears a logical next step for the banking community.

Hancock Holding Co.’s first insurance agency deal would give the banking company’s long-established insurance operation greater entry into the commercial lines business, a Hancock executive said.

Evergreen Investments, the mutual fund unit of Wachovia Corp., said Tuesday that it plans a strategy change to accompany the renaming of its Evergreen Global Leaders Fund as Evergreen Global Large Cap Equity Fund on Nov. 1.

Alliance Capital Management LP reported Tuesday that preliminary assets under management rose about $9 billion last month, to $488 billion at Sept. 30, due to market appreciation and strong relative performance in its investment services.

In the wake of J.P. Morgan Chase & Co.'s purchase of Bank One Corp., executives at American Century Investments are confident their fund company will be able to grab new business and other opportunities as it offers its products and services throughout the now bigger bank.

ING Group and Allianz Group said Friday that ING Canada has agreed to buy Allianz's property and casualty insurance operations in Canada.

Robert DeChellis has been hired to be the executive vice president of Travelers Life and Annuity's retail annuities division, responsible for expanding its distribution network.

Hub International Ltd. has promoted William M. Tormey to lead its practice for all U.S.-based personal lines insurance, a newly created post.

Peter Presperin, the executive vice president and chief financial officer of Fireman's Fund Insurance Co., has left the company to pursue new opportunities.

Aon Corp. of Chicago sold its claims administration business, Cambridge Integrated Services Group Inc., to Scandent Group in Singapore, it was announced Wednesday.

Fox-Pitt, Kelton has announced the hiring of John Nadel as a vice president and senior analyst for its U.S. life insurance team.

Ameritrade Inc. plans to introduce an online investment platform at the end of this month that will use exchange-traded funds to attract assets from long-term, mass-affluent investors.

Wausau Insurance customers can now get automatic claim alerts by e-mail, along with electronic features available on myServices, Wausau's secure Internet site, the company said.

Old Mutual Asset Management, the U.S. asset management group of Old Mutual PLC in London, has started a family of four asset-allocation funds featuring management strategies from Old Mutual's U.S. subsidiaries.

A second insurance agency acquisition in two years has given Northeast Bancorp six new offices, increased revenue and premiums, and will help Northeast’s insurance operation achieve scale, according to its president and chief executive officer, Jim Delamater.

Woronoco Bancorp Inc. of Westfield, Mass., has acquired Colton Agency Inc., which is also based in Westfield.

MassMutual Financial Group's retirement services division has enhanced its online administrative services to make it easier for plan sponsors to submit payroll information, improve communication, and simplify yearend processing.