New York City Deferred Compensation Plan hired Fiduciary Capital...

New York City Deferred Compensation Plan hired Fiduciary Capital Management to manage $580 million in traditional and synthetic GIC strategies for the $5.2 billion plan's stable value fund, said Dean Weltman, plan compliance officer. Galliard Capital Management had managed the plan's entire $1.7 billion stable value fund; Galliard now runs the $180 million liquidity portion of the fund, while the remaining $940 million will be managed by GIC managers BlackRock, Credit Suisse, PIMCO and Wellington, Mr. Weltman said. Mercer Investment Consulting assisted.