SEARCHING & HIRINGS
Community Medical Center, Toms River, N.J., hired Bank of New York to handle $10 million to $15 million in intermediate bonds for its $94 million operating fund. Assets came from an existing manager that Steven G. Oleson, corporate director financial systems and cash management, would not identify. Spagnola & Cosack assisted.
Harbor Capital Advisors hired Emerging Growth Advisors as subadviser of the Harbor Growth Fund to replace Nicholas-Applegate, manager of the fund since 1993.
A Harbor spokesman said the change was because of underperformance. Nicholas-Applegate spokesman Rick Shaughnessy said, ``we are disappointed to lose this client, but it was a very difficult period to invest in midcap stocks, which greatly underperformed large-cap stocks during the period. We were only about 100 basis points off the performance of the S&P 400 Growth Index, the nearest benchmark.''