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UBS Wealth Management Americas has hired two financial advisors from Oppenheimer & Co. to its Boca Raton, Fla. office.

Lately, I've seen more and better thinking about asset management than you could find in the previous 20 years in the profession and I think it may be time to give modern portfolio theory a makeover. In fact, I think this fits a long-standing historical pattern.

Federated Investors has absorbed $100.6 million in assets from the Tributary International Equity Fund and merged them into the Federated International Leaders Fund, a fund will a similar mandate and that invests in high-quality foreign companies that appear to be undervalued.

Outflows from long-term funds totaled -$4.58 billion in the week ended July 20, the Investment Company Institute said.

Need a reason for optimism about the U.S. economy? The Hartford’s chief investment strategist for wealth management has six.

Americas Trading Group said it selected NYSE Technologies to provide the backbone for its high-performance execution platform.

The State Street Investor Confidence Index for July inched up 2.2 points to 101.1, State Street Global Markets reported Tuesday. However, in North America, the index fell 1.3 points to 99.2.

PNC's Atlanta branch deal underscores how wary acquisition-hungry banks are as they bulk up in a slow and risky market.

The finalization of new debit card regulations will likely provide a tailwind to bank technology spending later this year, according to the top executive of vendor Fiserv Inc. The company expects its clients will funnel more money toward software purchases as a result of rules, known collectively as the Durbin amendment, which the Federal Reserve Board shored up last month.

Broker-dealer Ameriprise Financial Inc. posted higher profits for the second quarter on Wednesday and said the planned sale of its Securities America unit is “progressing as anticipated.”