In an effort to further cash in on the hot retirement/annuity market, Phoenix has raised 854 million in an IPO according to Reuters.



UBS Asset Management will acquire Royal Bank of Canada' institutional asset management group, currently run by RT Capital Management. Upon completion of the merger, RT Capital Management will become Brinson Canada.



According to a new Gomez study of online account aggregation, firms must "provide advanced analytics and transactional functionality" in order to provide greater consumer value.



In a joint venture, TD Waterhouse will partner with DBS Group Holdings, a Southeast Asian baking firm, to create a financial services behemoth in Asia.



Steve Canter, chairman and CEO of Dreyfus, and Ronald O'Hanley, currently president of Mellon's Institutional Asset Management, both members of Melon's Executive Management Group, have been appointed vice chairmen of Melon's board of directors. 

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