Deals & People June 30, 2010

The Hartford Names New President of Wealth Management

The Hartford Financial Services Group, Inc. has named David N. Levenson President of Wealth Management, effective July 1.  
Reported by

John C. Walters, current president of Hartford Life, will leave The Hartford at the end of July to pursue other opportunities. 

According to a press release, Levenson joined The Hartford in 1995 from Fidelity Investments, and since that time has worked in nearly every aspect of the company’s wealth management business. He led the development of The Hartford’s mutual funds operations and also ran the retirement plans business before heading the retail products business.  

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In 2005, he joined Hartford Investment Management Company (HIMCO) as Managing Director in charge of sales and marketing.  

From 2006 to 2009 he was with Hartford Life Insurance K.K., the company’s Japan subsidiary, where he initially was charged with leading a turnaround as head of product and distribution and ultimately was named President and CEO. He returned from Japan in July 2009 to serve as executive vice president leading the company’s in-force domestic variable annuity business and its international and institutional business segments, the announcement said.  

Levenson earned a bachelor’s degree from the Wharton School at the University of Pennsylvania and a master’s in business administration from Columbia Business School. He is a Fellow of the Society of Actuaries (FSA) and is a Chartered Financial Analyst (CFA).  

 

Products June 30, 2010

Invesco PowerShares ETFs Undergo Index and Name Changes

Invesco PowerShares announced that five existing portfolios will undergo index and name changes effective on Wednesday.

Reported by

The five ETFs and their new names and indexes are: 

  • PowerShares Autonomic Growth NFA Global Asset Portfolio – PowerShares Ibbotson Alternative Completion Portfolio, Ibbotson Alternative Completion Index 
  • PowerShares Autonomic Balanced Growth NFA Global Asset Portfolio – PowerShares RiverFront Tactical Balanced Growth Portfolio, RiverFront Global Tactical Balanced Growth Index 
  • PowerShares Autonomic Balanced NFA Global Asset Portfolio – PowerShares RiverFront Tactical Growth & Income Portfolio, RiverFront Global Tactical Balanced Growth & Income Index 
  • PowerShares Value Line Timeliness Select Portfolio – PowerShares S&P 500 High Quality Portfolio, S&P 500 High Quality Rankings Index 
  • PowerShares Value Line Industry Rotation Portfolio – PowerShares Morningstar StockInvestor Core Portfolio, Morningstar StockInvestor Core Index 

 

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“We believe the new indexes will better align the portfolios with the changing investment landscape, provide investors with the potential for improved risk-adjusted returns, and position our family of ETFs for continued growth,” said Ben Fulton, Invesco PowerShares managing director of global ETFs, in the announcement. 

 

 

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