Jones Apparel Group, New York, hired Bank of New York to run its $15 million defined benefit plan, said Thimio Sotos, senior vice president and treasurer. The assets had been run by seven managers: Alliance Capital; Reich & Tang; J.P. Morgan Fleming; Barclays Global Investors; Morgan Stanley; Capital Guardian; and PIMCO. Mr. Sotos said it didnt make sense to have so many managers for the plan, the assets of which shrank from $60 million in 1998 after the company restructured and paid out lump sums to retiring employees. The Jones plan is frozen and will shrink even more as additional payouts are made, he added. All new employees are enrolled in the $75 million defined contribution plan, for which Merrill Lynch has been bundled provider since 1999, said Mr. Sotos.