TRUSTEES OF the $1.6 billion Chicago Transit Authority Retirement System decided to take $30 million from an equity index portfolio managed by ANB Capital Management. About $9 million will pay benefits to the first round of employees taking advantage of the CTA's ealry retirement program.
Daniel Perk, executive director, said ANB will continue to manage about $67 million in the portfolio.
Trustee will decide April 22 if some of the $30 million might go toward funding outstanding real estate commitments.
SIGNET BANKING put part of its corporate rate trust business on the block for an undisclosed price.
The business, which includes bond trustee and paying agent services, is a small and profitable part of the banking company but "not one of our strategically targeted businesses," said Teresa G. Jones, director of investor relations.
Signet hired Landau Associated to help with the sale.
MILWAUKEE COUNTY Employees' Retirement System retained incumbent Mercer Investment Consulting following a review of the fund's pension consulting relationship, said Jac Amerell, director for the $1.3 billion fund.
Officials got 10 responses to the RFP.
LINCOLN CAPITAL Management will add a standalone high-yield product within the next three months, said Alec Knowles, spokesman.
In addition, the firm hired Ann Bernjamin as vice president of fixed-income management, a new position. Ms. Benjamin had managed Stein Roe's income Fund. She has been replaced internally by Steve Lochman.