Asset servicing

SEARCHES AND HIRES

SEARCHES AND HIRES

Watertown Contributory Retirement System issued an RFP for custody services for its $185 million investment portfolio.

Searches and Hires

Searches and Hires

San Francisco City & County Employees' Retirement System will begin a search in mid-April for a third-party administrator for its $3.5 billion 457 plan.

Searches and Hires

Searches and Hires

Plymouth County Retirement Association is searching for custodial/master trust services for its $1 billion pension plan.
DC participants sue Home Depot, 2 advice providers over alleged fiduciary breaches

Courts

Courts

Two participants sued Home Depot's 401(k) plan executives alleging excessive fees and poor-performing investments represented a fiduciary breach.

SEARCHES AND HIRES

SEARCHES AND HIRES

Lancashire County Council Pension Fund, Preston, England rehired Northern Trust as global custodian.
Horizon Actuarial Services acquires Crews MacQuarrie & Associates

Consultants

Consultants

Horizon Actuarial Services is acquiring Crews MacQuarrie. Both firms provide actuarial and consulting services to multiemployer plans.
San Bernardino County puts custodian State Street under review

Pension Funds

Pension Funds

San Bernardino County Employees' Retirement Association will conduct a six-month review of its custodian, State Street.

Asset Servicing

Asset Servicing

Elizabeth Grier was named director and sales executive at BNY Mellon.

Searches and Hires

Searches and Hires

Metropolitan Washington Airports Authority is searching for a firm to provide trust and custodial services for its pension plans and VEBA trust.
DC plans active in U.S. equity manager searches
In its Defined Contribution Trends survey, Callan reported that large-cap U.S. equity funds were the most replaced from the fall of 2016 to the fall of 2017.

Searches and Hires

Searches and Hires

Russell joins BlackRock as a transition manager for the GPIF's ¥23 trillion allocation to overseas bonds.
Investors review global equity mandates in March
Among the funds most reviewed by global consultants and institutional investors, global equity mandates were the most common.
Parametric adopting AI, machine learning for its back office

MONEY MANAGEMENT

MONEY MANAGEMENT

Parametric has set its sights on using artificial intelligence and machine-learning tools to streamline back- and middle-office functions.
Ascensus continues acquisition spree with purchase of ASPERIA

Defined Contribution

Defined Contribution

Ascensus is acquiring third-party administration firm ASPERIA Retirement Plan Solutions.
APG to sell defined contribution administration business

Defined Contribution

Defined Contribution

APG Asset Management intends to sell its defined contribution administration business Inadmin to low-cost administrator RiskCo.