ExxonMobil Corp., Irving, Texas, hired Northern Trust Global Investments to manage $2.5 billion for its defined contribution plan, according to a news release from Northern Trust.
An ExxonMobil spokeswoman said the money would be invested in five index funds: S&P 500; MSCI EAFE; Lehman Aggregate; Wilshire 4500; and a balanced fund that blends the four indexes. She declined to detail the exact amount in each fund but said the largest is the S&P 500 fund. Funding will come from Barclays Global Investors, previously ExxonMobil's only defined contribution plan manager.
The company has $14 billion in its defined contribution plans.