Bangor Publishing Co., Bangor, Maine, hired Merrill Bank, a subsidiary of Merrill Merchants Bancshares, as sole manager of its $18 million pension plan. The company switched from Fleet Investment Advisors last year after conducting an asset-liability study and sending out RFPs, said Robert Stairs, vice president, administration. Merrill administrative and investment fees were lower, and "we kind of liked the idea that they were just down the street,” he said.
The plan’s asset allocation is 60% stocks and 40% bonds. The equity money is divided among domestic, international and small-cap stocks, Mr. Stairs said.
