SEARCHES & HIRINGS
West Virginia Investment Management Board, Charleston, issued an RFP with a Nov. 7 deadline for a consultant to develop an asset allocation for the pension fund and to provide trustee education, said Diana Will, CIO of the $4.3 billion fund. The board will need to be taught about developing an asset allocation, risk management and other investment management issues.
Baptist Medical System, Little Rock, Ark., hired First Commercial Trust as master trustee for its $40 million defined benefit plan. First Commercial replaces NationsBank, which left the trust business. The search was conducted in-house.
Barber Dairies Inc., Birmingham, Ala., hired Merrill Lynch as a semi-bundled provider for its $9 million defined contribution plan. Merrill Lynch replaces AmSouth Bancorp following a search that plan officials initiated to see if reporting, timeliness of service and responses to participants could be improved, said Phillip Mishalanie, controller. The fund options have yet to be finalized, but are likely to increase from the four funds now offered. The search was done in-house.
