Industry

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.

Troy A. Paredes was sworn in Friday afternoon as the newest commissioner of the Securities and Exchange Commission by SEC Chairman Christopher Cox.

The board of directors at The Vanguard Group Inc. has elected F. William McNabb III as its chief executive officer.