Columbia Threadneedle hires executive

Columbia Threadneedle Investments, Boston, the global asset management group of Ameriprise Financial Inc., Minneapolis, announced that Scott Couto will join Columbia Threadneedle as head of North America.

Couto was most recently president of Fidelity Institutional Asset Management, he will report to Columbia Threadneedle CEO Ted Truscott and be based in the Boston office.

Mergers and acquisitions

Ecolab sells oil-field equipment business

Ecolab Inc., St. Paul, has sold its Fab-Tech business unit based in Casper, Wyo. to Dragon Products Ltd., Beaumont, Texas.

Fab-Tech designs and makes oil-field equipment, they had annual revenue of approximately $20 million. Terms of the deal were not disclosed.