Harsh Bansal will join Honeywell International Inc., Morristown, N.J. on April 1 as vice president of investments for the $17.5 billion pension fund. He'll also become chief executive officer of Allied Capital Management LLC, which manages the fund. He is replacing Edward T. Tokar, who is retiring. Mr. Tokar said he plans to "start a new career" in the money management business, but he declined to identify the firm he will be joining.
Mr. Bansal was director-pension investing for the $18.9 billion pension fund of United Technologies Inc., Hartford, Conn. A source at United Technologies said Mr. Bansal will be replaced but would give no further information.