Catholic Health East, Newtown Square, Pa., hired Northern Trust as global custodian for its pension and other funds, replacing Deutsche Bank, said Paul Klinck, vice president-treasury services. "Weve been with Deutsche five years, he said. "Its our habit to test the market periodically, not because we had any problems with Deutsche.
Separately, Catholic Health East is searching for an executive vice president-CFO, whose duties include overseeing the pension and other investment funds. C. Kent Russell will retire as CFO in July; he joined Catholic Health East in 1998 as CFO.
Catholic Health East funds include $400 million in pension assets and $800 million in other investment funds.