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Nasdaq OMX Group and a unit of Canada’s TMX Group said they are developing a family of capital markets indices based on U.S. Treasury instruments that will be rebalanced daily, instead of monthly.

BNY Mellon has promoted wealth management veteran Ridgway Powell to a new position leading a team of advisors to ultra high-net-worth families and family offices.

"The greatest stimulus package in the world is certainty. For the past two years we have not had certainty," Bob Reynolds, president and chief executive of Putnam Investments told the Fund Forum USA’s Global Fund Distribution Summit here Tuesday.

Wachovia Bank NA, currently Wells Fargo & Co., has reached a tentative settlement of a class action suit with municipal issuers over antitrust charges of bid-rigging for municipal investment, derivatives and other contracts.

BOSTON—“The greatest stimulus package in the world is certainty. For the past two years we have not had certainty,” Bob Reynolds, president and chief executive of Putnam Investments told the Fund Forum USA’s Global Fund Distribution Summit here Tuesday.

A recent study from LIMRA shows consumers are not aware their multi-line carriers offer life insurance, and when they do, communication, timing and reputation play largely into decision-making.

The ongoing decline of both public and private pension plans has afforded life insurers space to offer products that guarantee a person an income stream for life.

The team, which operates under the name Desai Group, previously had $1.7 billion in client assets under management and $8.3 million in annual fees and commissions.

Raymond Stacy and Christopher Pieper join Bank of America Merrill Lynch in Fort Mitchell, Ky.

Getting on broker-dealer platforms is no longer easy for asset management firms. But with the right relationships, best products and unique offerings, it is possible.