Industry

Needles Now President at Touchstone Investments

Following its $50 billion acquisition of Merrill Lynch, Bank of America plans to move the major part of its wealth management from Boston to New York, The Boston Globe reports. That means that BoA’s U.S. Trust private banking unit and Columbia Management mutual funds groups will also make the move.

The Depository Trust and Clearing Corporation (DTCC), the largest financial clearinghouse in the U.S., is in talks to merge with its European rival LCH.Clearnet in a deal worth approximately $950 million.

Coleman Joins Delaware as Head of Distribution

ICI Re-Elects Murphy as Chairman of the Institute

Putnam Investments has named Jeffrey R. Carney as the new senior managing director and head of global marketing and products, effective Oct. 27.

The credit crisis fueled a substantial 33% increase in asset management mergers and acquisitions in the third quarter, compared to 3Q07, Jefferies Putnam Lovell announced Tuesday. There were 69 M&A deals across the globe, up from 52 a year earlier.

Lord Abbett Promotes 17 Executives to Partner

Morningstar announced Thursday is has acquired Fundamental Data Ltd. of the UK, a closed-end fund data provider based in London, for $19 million, subject to post-closing adjustments.

Following Bank of America’s acquisition of Merrill Lynch, the latter’s chairman and chief executive officer, John Thain, will reportedly remain with the merged entity as head of global banking, securities and wealth management.