Main Line Health, Bryn Mawr, Pa., hired Miller Anderson as a domestic fixed-income manager for its defined benefit plan.
The firm manages a $31 million portfolio that was with BlackRock, which will continue to manage the remaining $72 million of the $257 million fund's bond portfolio. The additional manager was hired for diversification purposes, said Kathy Robinson, director of treasury services. No formal search was conducted; Miller Anderson was selected because of its existing relationship with Main Line managing nonpension assets, she said.
Willard L. Umphrey, now chairman, was named president and CEO of the Quantitative Group of Funds. Mr. Umphrey assumed the president's job from Edward L. Pittman, who had been based in the firm's Washington office, which is closing. The company is concentrating all management and marketing activities at its Lincoln, Mass., headquarters. Mr. Pittman declined to move to Massachusetts
