The financial services industry is complacent about using electronic technology to deliver services, a study by Andersen Consulting and Economist Intelligence concluded. Despite significant marketplace inroads by nontraditional competitors, the majority of financial services institutions are only slowly adapting to a virtual world, the study found.
Oklahoma City Police Pension & Retirement System hired Montag & Caldwell to manage $100 million in large-cap growth U.S. equities, said Robert Wallace, executive director for the $1.2 billion fund.
Mr. Wallace said Montag & Caldwell will replace Trust Co. of the West July 1; TCW will manage the assets until then. The switch was made because city officials wanted a growth orientation, and TCW uses a core equity style for the fund. Asset Consulting Group assisted.