Industry

Multi-manager shop Virtus Investment Partners has added Rampart Investment Management, which specializes in customized options strategies for institutional and high-net-worth clients, as a wholly owned affiliate of Virtus.

Now you can say it is so: Abigail Johnson last month was named president of Fidelity Investments and, effectively, successor to her father, Edward "Ned" Johnson, chief executive officer of Fidelity Investments.

Following news that Merrill Lynch Wealth Management lost several advisor teams to rivals this week, the firm is pushing back with three advisor hires of its own from competing wirehouse firms.

Sudi Mariappa, the former bond head and Managing Director at PIMCO who worked closely with founder Bill Gross, will join GLG, the investment management division of London-based Man Group PLC to manage the firm’s renewed push into fixed-income hedge funds.

Meg Green & Associates, a South Florida RIA with $650 million in client assets, is switching its custody platform to Birmingham-based Sterne, Agee & Leach.

Independent planning firm RMR Wealth Builders of Teaneck, N.J., has left its long-time independent broker-dealer, the Cetera company, for Innovation Equity Partners Financial in Tampa, Fla.

Forward has expanded its institutional and intermediary sales forces with a slew of new hires.

Despite a tough third quarter, RBC Wealth Management is doubling down and investing in an ambitious growth strategy as it looks to come out ahead post-crisis.

Firms need to foster real loyalty between themselves and their investor-clients, especially if advisors continue to leave, says Arthur Levitt, the former chairman of the SEC.

Robert Ceccarelli and John Hursh collectively manage more than $148 million in assets and produce nearly $1 million in revenue. They will join Ameriprise's employee advisor channel and be located in the New Haven, Conn.