SEARCHES & HIRINGS
Lifespan Corp., Providence, R.I., added small-cap equity and international equity investments to its $93 million defined benefit plan, said Paul Pierannunzi, director of finance. The plan hired Morgan Stanley as a new international manager and changed Essex Investment Management's large-cap allocation to small-cap. He would not say how much each firm manages.
Lifespan recently changed its allocation from a 50-50 equity/fixed-income mix to 75-25. The new mix is 25% large cap, 10% small cap, 25% international equity, 10% real estate, 5% venture capital and 25% U.S. fixed income.
Sanofi Inc., New York, hired Frank Russell Trust as a bundled provider for its newly consolidated $120 million 401(k) plan, said Jim Fusilli, spokesman for Sanofi. Until recently, Sanofi's 401(k) plan was kept separate from the plans of its U.S. subsidiaries, he said. Frank Russell had provided options for the original Sanofi plan. Russell now will provide 10 equity and fixed-income funds