Blue Cross & Blue Shield Association , Chicago, hired Northern Trust...

Blue Cross & Blue Shield Association, Chicago, hired Northern Trust as master trustee for its $1.5 billion pension plan, said Jamey Sharpe, director of investments. The plan issued RFPs earlier this year to explore new options, and incumbent Deutsche Bank was asked to rebid, he said. The fund’s asset allocation is 45% domestic equity, 15% international equity, 31% fixed income, 8% real estate and 1% cash. Callan Associates advised.