Thomson Holdings, Stamford, Conn., will conduct an asset liability study of its $750 million defined benefit plan later this year, said Jim Loring, director of employee benefits. The company typically completes such studies every three years.
The fund's asset mix now is 33% U.S. bonds, 20% non-U.S. equity, 40% U.S. equity and 7% cash. Mr. Loring expects the study to be done by the end of the year. Towers Perrin will assist.
CCB Financial is acquiring from NationsBank part of the institutional trust business of the former Barnett Banks of Florida. Terms were not disclosed.
When the deal closes in the second quarter, about $3 billion in assets from 450 custody, escrow and employee benefit accounts will be transferred to CCB. NationsBank's acquisition of Barnett closed in January.
CCB applied to the state of Florida for authority to open a trust company there to serve the former Barnett customers.