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RS Investments has named Matthew H. Scanlan chief executive officer. He was previously president and CEO of Renaissance Institutional Management, a subsidiary of hedge fund manager Renaissance Technologies. Previously, he was head of Barclays Global Investors' institutional business and a portfolio manager at The Northern Trust Co.

Putnam Investments is laying off 78 employees, or 4.4% of its workforce. The layoffs, primarily in operations, follow a 3% decline in assets under management, from $121 billion in 2010, to $117 billion in 2011.

William Polk Carey, founder of investment management firm W.P. Carey & Co., died on Jan. 2 at age 81, the company announced.

Raymond James & Associates has hired two financial advisors from Wells Fargo to open its first office Richmond, Va., office for its employee broker-dealer business.

Union Bank has promoted bank veteran Terry Negendank to regional managing director of The Private Bank, in charge of wealth management in Northern California.

UBS AG has named Robert J. McCann chief executive of UBS Group Americas in addition to his current role as CEO of the Wealth Management Americas unit. McCann replaces Philip J. Lofts, who returns to his former role as group chief risk officer. McCann will coordinate the efforts of the business units in the Americas, including asset management, investment banking and wealth management.

The head of wealth management strategies for UBS discusses his 14 years in the securities business.

Firstrust Financial Resources, a subsidiary of Philadelphia-based community bank Firstrust Bank, hired advisor Lisa Hanson.

Securities America, the nation’s seventh-largest independent broker-dealer, wrapped up 2011 with a handful of executive promotions.

The Financial Services Institute has appointed the CEO of a large broker-dealer holding company to its 2012 Board of Directors.

Reliance Trust, a wealth management trust and services firm based in Atlanta with $87 billion in AUM, has appointed Richard F. Curcio and Ward Curtis to its board of directors.

Fifty-two percent of executives at asset management firms expect bonuses for distribution and marketing professionals to rise in 2012, and 39% foresee additional hiring, according to a Russell Reynolds survey of 529 executives.

ProShares, the fifth-largest provider of exchange-traded funds in the U.S., has created a new post, head of capital markets, and named Stephen Sachs to the position.

Putnam Investments announced last week that in 2011, it has expanded its wholesaling staff by 20%, bringing its total external wholesalers to 54 and nearly as many internally. Wholesalers who recently joined Putnam include:

Wells Fargo Advisors hired advisor Zoran Vaz in Melville, N.Y. from David Lerner Associates. Vaz joined the firm on Nov. 4, and had $844,000 in annual fees and commissions and $111 million in client assets under management.

The managing director, national sales director & chief operating officer of private wealth management at Robert W. Baird & Co. discusses his 22 years in the securities business.

In On Wall Street's fifth annual ranking, the young hotshots of The Street talk clients and strategy. Here's how this year's top 40 advisors under 40 conquered a tough market.

Brown Brothers Harriman has appointed Daniel Greifenkamp head of mutual fund business development for the investment management business-charged with extending the momentum of its $43.5 billion proprietary mutual fund complex.

Plus, moves that mattered the week ending Nov. 23, 2011, at Raymond James, Omgeo and elsewhere.

Floyd Gilbert Bickel joins Wells Fargo’s Frontenac, Mo., office.