Deals & People

MassMutual’s Retirement Services Division has added two new positions to its support organization for third-party administrators (TPAs).

Fidelity Investments today named Michael Durbin as president of Fidelity Institutional Wealth Services, provider of trading, custody, and brokerage services to registered investment advisers (RIAs).

GE Asset Management Incorporated (GEAM) on Tuesday announced several additions to its institutional sales team, expanding the firm’s presence in both the public and corporate plan markets.

In order to boost the equity side of Putnam Investments, CEO Robert Reynolds said the firm will undergo several changes, including an elimination of staff positions, the merging...

Only one Wachovia executive will remain on the combined Wells/Wachovia senior executive team, according to a news report.

RolloverSystems Inc. (RSI), an independent provider of rollover management services, named Christopher Silvaggi as its director of marketing and product.

Hand Benefits&Trust Company (HB&T) has hired Target Date Analytics LLC (TDA) to manage the firm’s SMART Funds Target Date Series.

DWS Investments added Thomas A. Jones as director and head of National Accounts Management for its broker/dealer division in New York, the company said.

The Retirement Advantage, Inc. (TRA) has announced the acquisition of DML Benefits, LLC. (DML), consisting of approximately 300 retirement plans.

Fidelity Investments said Thursday it will cut nearly 1,300 jobs this month, and more layoffs are expected early next year.

The Newport Group announced it appointed Kris Krikorian and David Semmler as regional directors, reporting to Newport’s Chief Marketing Officer Tom Pittman.

Kravitz, provider of cash balance pension plans, announced it has completed the acquisition of the MaxPlan retirement plan business from JPMorgan Retirement Plan Services.

Lincoln Financial Group named Daniel Hayes as head of Funds Management, Retirement Solutions, the company announced.

John Hancock Retirement Plan Services (RPS) has increased the number of advisers able to offer services to 401(k) plans through a new distribution agreement reached with Morgan Stanley.

The Royce Funds have been added to the CPI retirement plan platform, announced CPI Qualified Plan Consultants, Inc., a third-party recordkeeping and administration company.

Fidelity Investments said on Tuesday it was reviewing its costs and staffing, Reuters reported.

MFS Investment Management (MFS) completed the formation of a business development office for the defined contribution investment only (DCIO) marketplace, the company said.

It remains to be seen what the Merrill Lynch retention package will mean for retirement plan advisers.

Bank of America today announced that Bob McCann, currently vice chairman and president of Global Wealth Management at Merrill Lynch, will be head of the combined financial adviser...

Nick C. Thakore and Robert D. Ewing will join Putnam Investments as managing directors and portfolio managers of the firm’s Large Cap Equities Team, the company said.