Long Distance International, Ft. Lauderdale, Fla., hired Northern Trust Global Investments to manage $126 million in corporate cash, said Elizabeth Tuttle, CFO. The cash represents the proceeds of a recent high-yield debt issue by the corporation.
The money will be invested in liquid cash instruments and drawn down for use in corporate expansion, said Ms. Tuttle.
Olena Berg, as expected, joined Financial Engines, which offers investment advice to 401(k) plan participants. She will also act as an adviser to the firm. Ms. Berg, who resigned at the end of June as assistant secretary of labor, will be a senior adviser and member of Financial Engines' seven-member board of directors.
Ms. Berg said the part-time post is a good fit because ``I've done a lot of work on the regulatory front trying to create a climate where it is possible to get plan participants the tools they need.'