Industry

Charles Schwab Advisor Services announced a new business, Schwab Intelligent Technologies, marking a milestone in the company’s initiative to deliver integration solutions for registered investment advisors.

Opportunities are certain to be abundant for Sallie Krawcheck, the former president of global wealth and investment management at Bank of America Merrill Lynch who was shown the door in a Tuesday evening management shakeup. But can the same be said for the advisors left behind?

Allianz announced Tuesday it is rolling up its Allianz asset management division and PIMCO units into a new structure to be called Allianz Asset Management, effective Jan. 1.

Deloitte Consulting has promoted Elizabeth Krentzman from principal to head of its mutual fund practice, a new position at the firm that oversees its auditing, tax, financial advisory and consulting businesses for the fund industry.

Natixis Global Advisors has acquired a controlling interest in Darius Capital Partners, an investment advisor that offers a menu of third-party hedging strategies. These include Undertakings for the Collective Investment of Transferable Securities (UCITs), managed accounts, hedge funds, hedge fund replicators, funds-of-funds and alternative exchange-traded funds.

Morningstarhas promoted William Harding to head of manager research for its investment management division, a new position in which Harding will develop best practices in investment manager research and selecting.

The Bank of New York Mellon Corp., the world’s largest custodian bank, said late Wednesday said that Robert Kelly stepped down as chairman and chief executive officer due to differences with the bank’s directors over his management.

UBS Wealth Management Americas hired 11 advisors with $1.2 billion in AUM. The largest team included six Morgan Stanley Smith Barney advisors in Washington, D.C. including David Andreadis, Karen Ben-Shlaush, Richard Haskin, Frederick Schultz, Lloyd Seested and Eric Teichberg. Together, they oversaw $659 million in client assets.

Morningstar has promoted William Harding to head of manager research for its investment management division, a new position in which Harding will develop best practices in investment manager research and selection.

BNY Mellon Asset Management has promoted Christopher Sheldon to chief investment officer of The Dreyfus Corp. Sheldon hails from BNY Mellon Wealth Management, where he was director of investment strategy and president of BNY Mellon Funds.