Wealth management

Unified managed accounts are a necessity, not an accessory, at banks that want to compete for wealthy customers, an executive at AmSouth Bank said in an interview.

Triad Guaranty Inc. in Winston-Salem, N.C., said Tuesday that its subsidiary, Triad Guaranty Insurance Corp., has hired Jeffery E. McClatchy to be vice president, national accounts.

Principal Financial Group Inc. has announced a turnkey savings tool to help employees boost retirement savings, and separately Fitch Ratings affirmed its debt ratings.

Jefferson Pilot Financial, a Greensboro, N.C., provider of universal and variable universal life insurance and fixed annuities, has introduced JPF Legend 300 LR, a universal life product.

Bank of Hawaii Corp.'s investment services group named Toby Martyn an executive vice president and chief investment officer on Tuesday.

The individual insurance division of Sun Life Financial U.S. has announced the creation by Ibbotson Associates of five model portfolios for Sun Life Financial's Futurity series of variable universal life insurance policies.

About 81% of North American life insurance company chief financial officers believe that the United States and Canada will join with Europe in adopting a global accounting standard for insurance within 10 years, according to the Tillinghast business of Towers Perrin in its latest CFO survey.

Conseco Inc. subsidiaries and a unit of Inviva Inc. agreed to pay $20 million to settle allegations by regulators that they let favored investors improperly trade mutual funds linked to variable annuities, the regulators announced Monday.

Frost Insurance Agency is stepping up expansion plans and considering acquisitions in Texas to supplement its recent deal for Sammons Insurance Group in Dallas.

Cominvest, the asset management arm of Commerzbank AG in Frankfurt, said Monday that it will offer a fund of funds program in the second half of this year.

Manulife Financial Corp. of Toronto said Friday that it may exceed its cost-cutting targets for merging the recently purchased John Hancock of Boston and prefers to focus on a smooth integration rather than doing more big deals soon.

Fidelity Investments' clearing services unit says it will use acquisition, organic growth, and new clients to sustain its rapid growth of the past 15 months and expand share across all its channels as it pursues Pershing, the No. 1 clearing company.

Canadian mutual fund sales rose last month, according to an industry estimate from the Investment Funds Institute of Canada.

Piper Jaffray & Co. announced Thursday that it had promoted Scott LaRue to head of consumer mergers and acquisitions.

St. Paul Travelers Cos. Inc. said Thursday that its $275 million second-quarter net loss is entirely an artifact of the April 1 merger that created it out of St. Paul Cos. and Travelers Property Casualty Corp. and that in operating terms the company had a good quarter.

The Employees Retirement System of Texas said it has chosen CitiStreet Advisors LLC to supply advice to participants in the state government's defined contribution program.

Mellon Financial Corp. announced Wednesday that it had closed its purchase of Evaluation Associates Capital Markets, a hedge-fund-of-funds firm in Norwalk, Conn.