Industry

Catherine J. Weatherford has been named president and chief executive officer of NAVA, the Association for Insured Retirement Solutions, based in Reston, Va.

U.S. investment bank Lehman Brothers is considering shedding part or all of its money management division in order to raise capital and ease real estate losses, according to the International Herald Tribune.

Forward Management has hired Jeffrey P. Cusack as president. J. Alan Reid, Jr. will remain chief executive officer, focusing on strategic direction.

Genworth Financial in Richmond, Va., has launched a new wealth management division, Genworth Financial Wealth Management. The launch completes the integration of two Genworth companies: AssetMark Investment Services, which it acquired in October of 2006, and Genworth Financial Asset Management.

Khan Heads Development For ING U.S. Wealth Unit

FolioDynamix, a provider of unified managed accounts technology and services, has acquired SunGard Advisory Technologies, which provides investment management and wealth management platform solutions to financial services organizations nationwide, including brokerage firms, RIAs, asset management firms and banks.

Clapp Accepts Sales Post With Fred Alger Mgmt.

Nationwide Mutual Insurance Co. of Columbus, Ohio, said it has agreed to buy all of the outstanding publicly held class A common stock of Nationwide Financial Services Inc.

After months of vacancies, Chairman Christopher Cox finally has a full slate of commissioners to work with at the Securities and Exchange Commission.

Investment firms will continue to hone their specialties and look to raise capital through mergers and acquisitions throughout the rest of the year, according to a report by Jefferies Putnam Lovell.