SEARCHES & HIRINGS
The $11.38 billion Pacific Telesis Group defined benefit fund, San Francisco, hired Boston Safe Deposit, a Mellon Trust unit, as its master trustee, master custodian and global custodian, said Jerry Koch, director-investment administration. Boston Safe replaces Northern Trust as master trustee and master custodian, and Bank of America as global custodian.
Wiltron Co., Morgan Hill, Calif., hired Union Bank as master trustee for its $20 million in retirement assets, replacing Bank of the West Trust & Financial Services, according to Mark Evans, treasurer.
The $210 million Plymouth County Retirement System, Plymouth, Mass., invested $5 million in two venture capital funds, said John McLellan, treasurer. The system has invested $3 million in Charles River Partners VII and $2 million in Boston Capital Partners' New England Growth Fund. Funding came from income on other investments, Mr. McLellan said.
Colonia Nordstern Versicherung AG, Cologne, Germany, hired State Street Bank's Munich operation to provide global custody for 2.9 billion deutsche marks ($2.1 billion) in non-German assets. State Street will provide a single online platform for reporting the investment exposure of 20 Colonia subsidiaries in 14 countries.
``One of the objectives was to control risk of the foreign subsidiaries,'' said Gerhard Girner, Colonia's head of asset management. Currently, data is reported and evaluated in a variety of ways