Industry

The departure of Chief Executive Officer Mark Fetting from embattled money manager Legg Mason has the firm reshuffling its top management in the face of a looming face-off with hedge fund manager Nelson Peltz of Trian Fund Management.

Morgan Stanley and Citigroup have agreed to a $13.5 billion valuation of Smith Barney that clears the way for Morgan Stanley to complete its acquisition of the brokerage business by June 2015.

Doug Regan To Head JP Morgan's Midwest Private Bank After 27 Years at Northern Trust

Touchstone Investments, a Cincinnati-based mutual fund company, completed its acquisition of 16 mutual funds from Fifth Third Asset Management.

LearnVest, a financial management website built as an electronic financial advisor for mass market investors, will announce Tuesday morning it is now a registered investment advisor and will be hiring more advisors in the coming months.

Federated Investors has added $4.4 billion in assets from four Fifth Third money market funds into four existing Federated money market funds.

A spate of new hires from Wells Fargo accompanies the opening of Benjamin Edward's 26th office in Northfield, N.J.

JHS Capital Advisors, a Tampa, Fla., registered investment advisor, announced Monday that it has hired Tim Forsman as a senior vice president of fixed income investments.

Novato, Calif.-based Hennessy Funds moved closer to finalizing its acquisition of FBR Funds, and transferring the assets into various Hennessy funds.

The Kentucky-based firm has hired a former Merrill Lynch advisor with $29 million in AUM.