New York City Deferred Compensation Plan hired BNY Asset Management to run its $2 billion S&P 500 index option, said Dean Weltman, plan compliance officer for the $6 billion plan. The option's previous manager, Vanguard, ran it as a commingled fund; BNY Asset offered the option of a separately managed account, in addition to overall cost savings, said Mr. Weltman. Vanguard and Northern Trust were finalists. Mercer Investment Consulting assisted.
New York City Deferred Compensation Plan hired BNY Asset Management to...
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