Industry

The group is "part of a strategic build out" at the asset management firm.

CI Financial has entered into an agreement to acquire The Hartford’s Canadian mutual fund business, Hartford Investments Canada Corp., which has C$1.75 billion in assets under management. Terms of the deal were not disclosed.

Morningstar has entered into a definite agreement to acquire the annuity intelligence business of Advanced Sales and Marketing for $14.1 million.

The newly appointed president and chief executive officer at Jackson National Life Insurance Co., knows what it is like to be a financial advisor dealing with variable annuities.

The Delaware company hired Walter J. Dillingham Jr. as a managing director and business development officer; John M. Lawson as a managing director and investment advisor; and Leigh H. Weiss as a managing director and investment advisor.

Daniel Mendonça Barros was named CEO of the UBS broker-dealer and head of the UBS securities business in Brazil, effective when UBS' acquisition of Link Investimentos closes, expected in the fourth quarter.

Volatile equities markets and heightened EU sovereign credit risk during the second quarter of 2010 have drawn significant attention to mutual fund performance. Beyond the challenges posed by the current market environment, mutual fund managers are also contending with a variety of strategic, operational and tactical changes that are reshaping their firms and the industry as a whole. Three key areas that should be firmly in their sights are:

Ben Woloshin has joined New York Life as head of relationship management for retirement income security (RIS), reporting to Executive Vice President Chris Blunt. Woloshin was previously with Goldman Sachs as vice president in the reinsurance group, responsible for institutional relationships.

On the heels of its $4.9 billion acquisition of Hewitt Associates, Chicago-based Aon Corp. announced a three-year restructuring plan centered on eliminating 1,500 to 1,800 jobs, which it expects will save the company $280 million annually.

Fidelity, a year after creating a dedicated transition management group, Fidelity Capital Markets, has appointed Kevin Byrne to lead the growing practice.