BB&T Corp., Winston-Salem, N.C., today announced it has acquired
MainStreet Financial Corp., Martinsville, Va., a community banking firm.
Once the acquisition is complete, sometime in the first quarter of 1999, MainStreet customers will be introduced to a variety of new services, including mutual funds and retail brokerage.
The acquisition is subject to approval of regulators and MainStreet shareholders.
Orange County Retirement System, Santa Ana, Calif., is searching for a real estate manager, said Farouki Majeed, CIO for the $4.2 billion fund.
The additional real estate manager will replace Heitman Capital Management, which was terminated earlier this year. Mr. Majeed would not say why Heitman was terminated.
Heitman officials did not return several phone calls.
The new manager will assume Heitman's $100 million portfolio.
Other real estate managers for the fund are American Realty Advisors with $90 million and PMRealty Advisors with $4 million.
A decision is expected by November
Callan Associates is assisting.
Andrew Perrins has been appointed Chase Asset Management's head of global asset allocation, a new position.
Mr. Perrins previously was head of global asset allocation at Abbey Life, where he has not been replaced.
Robert J. Shanfield has joined Landmark Partners, a private equity investment firm, as a partner. Mr. Shanfield previously was senior vice president of GE Capital's Equity Capital Group.
Landmark manages $2 billion in nine funds and has just started a 10th fund