Wealth management

Placemark Investments, a unified managed account provider for financial services companies, has announced the hirings of three sales executives to increase penetration with major financial institutions.

Bank brokerage revenues' second-quarter decline and the low expectations for third-quarter annuity and mutual fund sales reports have some analysts concerned.

Sun Life Financial U.S. of Wellesley Hills, Mass., has hired Mary M. Fay as its vice president for annuities.

RBC Asset Management Inc. launched a corporate bond fund Thursday.

The operations chief who TD Waterhouse announced Wednesday will be its president and chief executive officer says the company will focus on organic growth by expanding its branch network.

Webster Financial Corp. said Tuesday it expects its plan to buy Eastern Wisconsin Bancshares for $26 million to make it a major player in the nascent heath savings account market as well as to further its overall strategy of increasing core deposits.

Mellon Financial Corp. announced a deal Tuesday for a Rhode Island investment firm that is the private wealth management group's third this summer and seventh in four years as part of a national expansion.

Anthem Blue Cross and Blue Shield said it has introduced health savings accounts to individuals and employer groups in Colorado.

A year after mutual fund scandals rocked the industry, increased regulation may mean new business and additional revenue for large custody banks that sell outsourcing services, according to analysts and executives.

The global financial services provider ING Group NV and Beijing Capital Group said they have regulatory approval for a Beijing branch of their life insurance joint venture, China Daily said Thursday.

After increasing in the first quarter of the year, sales of individual life insurance policies in the United States fell 2% in the second quarter from the year earlier, according to Limra International.

Bank of America's investment management arm said Thursday that it had hired Christopher Wilson to head its mutual fund businesses.

The planned integration of JPMorgan Funds with the One Group of mutual funds will let the company focus on expanding its institutional money market fund and unified managed account businesses and on continuing to target mass-affluent clients, the fund units' chief executive said Thursday.

Fiserv Inc., a Brookfield, Wis., information management systems and services outsourcer, said Wednesday that it had bought Results International Systems Inc., a provider of property/casualty insurance outsourcing services.

The 529 college savings plan market grew to $43 billion of assets in the second quarter despite the product's attachment to the increasingly scrutinized mutual fund industry and position in an uncertain regulatory environment.

JPMorgan Funds and One Group Mutual Funds said Tuesday they plan to combine their operations, two months after their parent companies merged.