Industry

U.S. firms were the most active acquirers of emerging markets companies in the first half of 2011, according to KPMG International, closing 144 deals. This was nearly twice the 82 acquisitions by Canada. The U.K. made 62 deals, followed by Japan, with 61.

Brown Brothers Harriman & Co. has appointed Rafael Febres-Cordero managing director and head of its international wealth management business, in a push to expand its international business. Febres-Cordero is a 20-year veteran of the financial services industry and spent the past 14 years at Fidelity Investments in a variety of positions, including as managing director of Fidelity's private equity division, Devonshire Investors. He was also managing director, Southern Europe & Latin America at Fidelity Investments International.

Readers react to this week's exclusive interview with Wells Fargo's Rich Lowrie, the financial planner who helped craft GOP presidential hopeful Herman Cain's 9-9-9 plan.

HighTower Advisors has snapped up Morgan Stanley Smith Barney branch manager Ann T. Rieder in the latest acquisition for its targeted national hiring spree.

Sales of asset managers slowed in the most recent quarter after an 18-month surge as fewer independent and foreign-owned firms changed hands, according to Sandler O'Neill & Partners LP.

Trust and customer service are the most important reasons why clients opt to work with registered investment advisors, according to TD Ameritrade’s latest RIA survey.

Prudential Financial has named David A. Hunt chief executive officer of Prudential Investment Management, in charge of all of its asset management businesses-including public fixed income, real estate, public equity, private fixed income, mutual fund and wealth management business. Hunt will start his position Nov. 9.

Having gone into bankruptcy, Financial Research Corp. is now being evaluated by Strategic Insight parent Asset International for potential purchase. Asset International, however, is only interested in purchasing certain FRC research products: those covering 529 college savings plans, alternative investments, target-date funds, industry assets under management by company and distribution channel, sub-advised funds and its “Monitor” research.

The Investment Company Institute has named Gregory Johnson, president and chief executive officer of Franklin Resources as chairman for a one-year term. As chairman, Johnson will oversee ICI’s board of governors, which sets policies and oversees the institute.

Frank Roccisano has been named complex manager in Kentucky and West Virginia at Morgan Stanley Smith Barney.