CITIGROUP INC., New York, said it would sell its mutual funds units in Spain to Santander Central Hispano S.A., Madrid, a manager of about $54 billion.
Handelsbanken, a big Swedish bank, said it had agreed to buy the life insurance and mutual fund units of SPP, an insurer owned by the Swedish government, for 7.1 billion kronor ($730 million).
Three weeks ago, Mr. Haldeman, 60, stepped down as chairman of Putnam Investments' mutual fund unit.
The deal is part of a plan by Manulife of Toronto to expand its mutual funds unit.
Dreyfus, the mutual fund unit of the Mellon Financial Corporation, agreed last year to pay $3 million to settle civil charges in the case.
Privately managed mutual funds (unit trusts) have cut UTI's share of the market, from over 90% to 57% today.
But his decisive action yesterday to replace the chief executive of the company's Putnam Investments mutual fund unit won him plaudits on Wall Street.
The Marsh & McLennan Companies, the insurance broker, said yesterday that it had $24 million in restitution and other costs in the fourth quarter for Putnam Investments, its mutual fund unit.
"Nobody has any conviction about anything," said Edward B. Jamieson, who manages several stock funds for Franklin Templeton Investments, the San Mateo, Calif., mutual fund unit of Franklin Resources.
In April, its Putnam Investments mutual fund unit paid $110 million to settle allegations that lax oversight allowed some fund mangers to benefit from insider information.
