Industry

Liz Kirscher is leaving her post as presidnet of research firm Morningstar's data division. A replacement has not been named.

On APril 17, 2012, Franklin Templeton Investments Corp. has proposed merging the Wellington West Franklin Templeton Balanced Retirement Income Fund into Quotential Balanced Growth Portfolio.

LPL Financial said its RIA platform, the firm’s custody unit, eclipsed the $25 billion threshold in total assets under custody.

On April 14, Touchstone finalized its deal with Old Mutual.

On April 16, 2012, a T. Rowe Price spokesperson confirmed that Robert Gensler, portfolio manager of the T. Rowe Price Global Equity Strategy, which includes the roughly $590 million Global Stock Fund, will retire from the firm on December 31.

The Financial Services Institute has expanded its agenda to include retirement and tax issues. As part of the expansion, the independent broker-dealer advocacy group has hired Robert Lewis as government affairs counsel for tax and retirement.

On April 16, 2012, Federated Investors, Inc. has completed its purchase of the London-based liquidity and fixed-income product manager Prime Rate Capital Management.

Emerging markets shop Mirae Asset Global Investments (USA) has named Robert P. Mulligan as Head of Retail Sales and Distribution.

Some firms grow organically, pumping out funds. Then, they hire reps and distributors to market and sell their offerings.

On the heels of major organizational changes, Northern Trust promotes two more executives in its wealth management business.