New York City Deferred Compensation Plan hired Bank of New York as its...

New York City Deferred Compensation Plan hired Bank of New York as its first master custodian, said Dean Weltman, counsel for the $4 billion plan. Separately, it hired Lord Abbett and Dresdner RCM Global to manage a combined $14 million blended midcap equity option previously run by INVESCO, which was not rehired after the account was put out to bid, Mr. Weltman said. The money will probably be split evenly between the two managers, he said.