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Sovereign Investment Group, a Texas independent wealth management firm, announced Wednesday it hired Michael Koletar as a senior vice president of investments for its wealth management team.

Merrill Lynch has added industry veteran Daniel Sandlin from Morgan Stanley.

Charles Fernandez, former president of Florida-based Fairholme Capital Management, has launched the Barnstar Opportunities Fund, a multi-disciplinary, special situations long-bias fund.

Russell Investments is broadening its portfolio and skill sets with the launch of its first internally managed, non-cash retail fund, dubbed the Russell Strategic Call Overwriting Fund.

Charles Schwab's Advisor Services group is planning to launch an internship program next year to help registered investment advisory firms develop and find new talent.

The firm has added a team with over $500 million in production to its southern California offices.

Investors yanked a record volume of cash from BlackRock Inc.’s exchange-traded fund that buys junk bonds as the notes lose value for the first month since May.

Despite the volatility of the last few years and the continued economic malaise in much of the developed world, global stocks are still attractive, according to executives at Morgan Stanley.

Great Southern Bancorp in Springfield, Mo., is bucking an industry trend toward fee-based lines of business in agreeing to sell its insurance and travel units.

Bank of America Corp. salespeople assigned to the world’s biggest stock portfolio managers were given new orders by their boss in September: attend at least 30 meetings a month with clients, or else.