HIRINGS
Coltec Industries Inc., New York, hired Bankers Trust to manage a combined $180 million in S&P 500 stock index fund assets.
A spokeswoman at Coltec said a portion of the indexed assets are from the firm's $703 million defined benefit plan and a portion from its $305 million 401(k) plan. She declined to specify how much was from each plan or name the former manager.
Army & Air Force Exchange, Dallas, hired Boston Partners to manage a $210 million allocation to large-cap equities for its three retirement plans - a defined benefit plan, a supplemental deferred compensation plan and a VEBA. The three plans total $3.9 billion.
The allocation came from the termination of a large-cap value manager that Mimi Sauers, chief-investments and administration, declined to name.
Wilshire Associates assisted.
Baltimore County Employees' Retirement System, Towson, Md., hired Institutional Capital Management and Legg Mason to run $60 million each, said Robert Burros, investment administrator of the $1.45 billion pension fund. Institutional Capital will use a large-cap strategy; Legg Mason will manage midcap to large-cap value stocks.
The assets came from a $500 million U.S. equity index portfolio managed by Barclays Global and a midcap U.S. stock portfolio run by Alex. Brown Investment. Alex. Brown continues to manage $121 million.
The system also reduced the U.S. portion of its equity allocation to 42% from 45%, while raising its international component to 18% from 15%. Ennis Knupp recommended the changes
