CIEBA, representing many of the nation’s largest corporate pension plan sponsors, broke away from the Financial Executives Institute.
The Committee on Investment of Employee Benefit Assets will become affiliated with the Association for Financial Professionals June 1. AFP, which represents corporate treasurers, is headed by Jim Kaitz, longtime head of CIEBA’s Washington lobbying efforts and a senior executive at FEI until mid-1998.
CIEBA, whose 145 members have total fund assets exceeding $1 trillion, is led by W. Allen Reed, president of General Motors Investment Management.
‘‘CIEBA has been a great group, and part of FEI for 15 years, but it’s always been a kind of independent group, and these people who run the plans are very independent,’’ said Philip Livingston, FEI president, whom Mr. Reed notified of the intended split on May 8.
CIEBA was founded in 1985 as a technical committee of FEI.
