NMB USA Inc., Chatsworth, Calif., hired Wells Capital Management to manage its $29 million in pension assets in five to six Wells Capital mutual funds, replacing J.P. Morgan Fleming, said Claire Stubbs, manager-retirement program. Assets will be split evenly between equity and fixed income mutual funds, with flexibility to shift to 60% equity and 40% fixed income, Ms. Stubbs said. J.P. Morgan Fleming provided one equity mutual fund and one fixed-income fund.
Capital Research & Management advised.
