RISK MANAGEMENT

Hess Corp. signs Fidelity as new 401(k) plan record keeper

Hess Corp., New York, hired Fidelity Investments as provider of the Hess Corporation Employees’ Savings Plan, said a transition guide on the company’s benefits website.

Fidelity replaced Conduent (formerly Xerox HR Services) earlier this month as provider of the 401(k) plan. The reason for the switch could not immediately be learned.

The plan’s 15 investment options, which include a series of T. Rowe Price Group target-date funds, are not changing. The plan had $673.7 million in assets as of Dec. 31, 2015, according to the company’s most recent Form 5500 filing.

A Hess spokesman could not immediately be reached for additional information.