Hardin Memorial Hospital, Elizabethtown, Ky., hired Diversified Investment Advisors as sole investment manager of its $28 million pension plan, said Tony Welch, vice president of human resources. The plan terminated PNC Bank, which managed $16.8 million in equities, and Banc One Investment Advisors, which ran $11.2 million in fixed income, both because of performance. Michael D. Moll, spokesman for PNC Bank, did not return calls by press time. Julie Crothers, marketing manager with Banc One, declined comment.
The current asset allocation is 40% domestic equity, 10% international equity, and 50% domestic fixed income.
William M. Mercer advised.