Hub International, a global insurance company based in Chicago, has acquired Alpha Pension Group, a retirement consulting firm in Boston. Terms of the acquisition, which closed Dec. 31, were not disclosed.
Alpha has 572 clients that represent 600 plans with assets of about $2.9 billion.
Rich Cawthorne, Alpha Pension's president and CEO, and Mark Salamone, its finance chief, will join Hub New England.
Hub Retirement and Private Wealth, which manages $93 billion for clients, offers institutional and retirement services to for-profit and not-for-profit organizations and customized private wealth management services to individuals and families.
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Meanwhile, DPL Financial Partners adds two annuity executives and Prime Capital Financial hires a Mid-Atlantic retirement plan consultant
Andrew Komarow pleaded guilty Thursday in federal court in Hartford to defrauding three financial services companies of close to $3.3 million.
Elsewhere, Cetera picks up a $210 million Connecticut team from MML, while Wells Fargo FiNet adds a San Diego family practice from LPL
Celebrity endorsements, $500M in claimed assets, and a state regulator stepping in.
“We needed to become a more agile and efficient organization,” said American Express CEO Stephen Squeri.
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