Searches and Hires

Florida 529 plans pick BMO for active large-cap equity

Florida Prepaid College Board, Tallahassee, hired BMO Global Asset Management as active domestic large-cap equity manager to run a total of about $236 million for the state's two 529 plans, said Casey Fisher, manager of the Florida Prepaid College Foundation.

The board issued an invitation to negotiate in August for a manager to run about $175 million for the $11.4 billion Stanley G. Tate Florida Prepaid College Program, and about $61 million for the $528 million Florida 529 Savings Plan. The incumbent manager, Silvant Capital Management, rebid for the services.

Other finalists were Intech Investment Management, MFS Investment Management, T. Rowe Price Group and Voya Investment Management.