Prudential Financial Inc., which expanded in recent years by acquiring units from rivals that were narrowing their focus, would be open to additional deals to add blocks of life insurance coverage or pension assets, its CEO said.

Shareholders of Towers Watson approved an $8.9 billion merger with Willis Group Holdings.

John Hancock Financial Network, a U.S. unit of Canadas Manulife Financial Corp., agreed to buy assets from the Transamerica broker-dealer subsidiary in a deal that will add as many as 1,100 advisors.

Estimates vary for the size of the U.S. retirement shortfall, but most agree it is a looming crisis--especially for women, according to Sallie Krawcheck, a former BofA exec.

MetLife said its dual roles of retirement products selling and advising are threatened by the DOL's proposed fiduciary rule.