Deals & People

Envestnet has brought aboard James Patrick, former co-head of U.S. Distribution for Allianz Global Investors, to head Envestnet’s managed account program.

Putnam Investments has announced two senior appointments within its Global Distribution team.

Citi announced that financial advisers at Citibank branches will no longer provide commission-based transactions.

Invesco has named K. Stuart Peskin as managing director for client service within its Institutional Sales and Client Service team.

VALIC has been retained by Anne Arundel County (Maryland) Public Schools (AACPS) and the Iowa Department of Administrative Services (DAS) as a 403(b) and 457(b) plan provider.

Great-West Retirement Services announced that Fairfax County Public Schools (FCPS) in Virginia has hired it as one of the school system’s three 403(b) plan providers, serving 6,000 employees.

Bank of America (BofA) said it is re-launching the Merrill Lynch brand with a new marketing campaign.

Invesco has emerged in the lead to acquire the mutual fund business from Morgan Stanley’s Van Kampen, according to The Wall Street Journal.

The Wiley Group ended a long relationship with Morgan Stanley Smith Barney to form a fully independent registered investment adviser.

BPAS, a national provider of administration, clearing, and custodial services, announced an addition to its sales team based in the Midwest.

The Newport Group has appointed Dennis Sain as senior vice president, Qualified Retirement Services.

The NFL Players Association announced it has partnered with Financial Finesse, a provider of financial education programs, to launch a program that gives NFL players the financial guidance...

Kenneth D. Lewis, Bank of America Corp. CEO and president, announced he will resign by year-end.

Bank of America Corporation (BofA) signed an agreement to sell the stock and bond units of Columbia Management to Ameriprise Financial, Inc., the companies announced.

Anne Arvia, president of Nationwide Bank, has been drafted to be the new chief of Nationwide’s retirement business, as of November 1, 2009.

Bank of America (BofA) brought in Andrew Sieg to head its retirement group and appointed Keith Banks and John Theil to lead Private Wealth Management.

The Hartford Financial Services Group, Inc,. has appointed J. Michael Shamburger as national sales manager for corporate retirement programs in its Retirement Plans Group (RPG).

Lafayette, California-based McHenry Partners LLC has named Geoff Eukel as research director.  

Consultant Mercer has tapped Toni Brown  from Callan Associates to serve in the new position of director of client consulting for its investment consulting business in the U.S. 

Jersey City, New Jersey-based investment management firm Lord, Abbett & Co. announced Wednesday it is getting out of the small-401(k) market to concentrate on its defined contribution investment-only...