SEARCHES & HIRINGS
City of Orlando (Fla.) General Employees' Pension Fund will issue an RFP for a master custodian in the next three weeks, said Janice Hameline, executive assistant.
The fund currently uses State Street Bank & Trust, which will be allowed to bid. The $420 million fund decided to issue the RFP after the firm's contract expired. A due date hasn't been set, but generally candidates are given 20 days to respond, she said. Performance Measurement Consulting probably will assist.
Weingart Foundation, Los Angeles, hired Capital Guardian Trust and Salomon Brothers Asset Management. Each firm will get $50 million in fixed income.
The foundation, with $660 million in assets, had managed the $100 million in-house. It will continue to run the remaining $50 million of its bond portfolio in-house, said Ann Van Dormolen, vice president and treasurer. The search was conducted in-house.
Mutual of Omaha Cos., Omaha, Neb., hired Universal Pensions as a third-party record keeper and administrator for the new quasi-bundled defined contribution plan it will introduce this year. Investors Fiduciary Trust was hired as trustee and custodian. Callan Associates is in the process of selecting managers for a series of manager-of-managers mutual funds Mutual of Omaha is constructing for the quasi-bundled 401(k) plan program.
