SEARCHES & HIRINGS
Knowles Electronics Inc., Itasca, Ill., is searching for a bundled provider for its $20 million 401(k) plan.
The plan's new consultant, DiMeo Schnieder & Associates, already is receiving completed RFPs, said Al Perry, vice president of human resources at Knowles. The 401(k) committee will meet Sept. 16 to create a short list of candidates to interview in October. Knowles uses Boatmen's as trustee, AMG as record keeper and a variety of mutual funds to form five options for employees.
The committee decided to search for a bundled provider to reduce costs and to provide employees with top services, Mr. Perry said.
Crown Central Petroleum Corp., Baltimore, hired ANB Investment Management to run about $20 million in passive fixed income for Crown Central's $110 million pension fund, said Michael A. Ciuchta, manager-benefits.
Assets came from Virtus Capital Management, which will continue to manage active core fixed income. The fund decided to split its fixed income between two managers.
Hewitt Associates assisted.
Genesco Inc., Nashville, Tenn., added Capital Research and Management's Euro-Pacific Growth Fund to its $34 million 401(k) plan, said Matthew N. Johnson, treasurer. The addition brings the number of options in the plan to six, all run by different managers. LCG Associates and Rogers Co. jointly assisted in the change.
Victorian Energy Industry Superannuation Fund, Melbourne, Australia, hired National Australia Custodian Services as custodian. The A$1.1 billion ($792 million U.S.) fund had used State Street as international custodian and handled domestic custodial duties in-house. The search was the result of a recent merger with the Gas and Fuel Superannuation Fund, which already used National Australia Custodian Services.
Towers Perrin assisted.