Industry

Goldman Sachs' asset management division has agreed to purchase the mutual fund division of Dividend Growth Advisors, in a push to offer more income-generating funds.

Fifty-two percent of executives at asset management firms expect bonuses for distribution and marketing professionals to rise in 2012, and 39% foresee additional hiring, according to a Russell Reynolds survey of 529 executives.

ProShares, the fifth-largest provider of exchange-traded funds in the U.S., has created a new post, head of capital markets, and named Stephen Sachs to the position.

Putnam Investments announced last week that in 2011, it has expanded its wholesaling staff by 20%, bringing its total external wholesalers to 54 and nearly as many internally. Wholesalers who recently joined Putnam include:

Wells Fargo Advisors hired advisor Zoran Vaz in Melville, N.Y. from David Lerner Associates. Vaz joined the firm on Nov. 4, and had $844,000 in annual fees and commissions and $111 million in client assets under management.

The managing director, national sales director & chief operating officer of private wealth management at Robert W. Baird & Co. discusses his 22 years in the securities business.

In On Wall Street's fifth annual ranking, the young hotshots of The Street talk clients and strategy. Here's how this year's top 40 advisors under 40 conquered a tough market.

Strategic Insight parent Asset International has completed its anticipated acquisition of certain FRC products—and says it will make “significant investments to strengthen, enhance and expand acquired FRC products.”

Brown Brothers Harriman has appointed Daniel Greifenkamp head of mutual fund business development for the investment management business-charged with extending the momentum of its $43.5 billion proprietary mutual fund complex.

Plus, moves that mattered the week ending Nov. 23, 2011, at Raymond James, Omgeo and elsewhere.