The European Central Bank, Frankfurt, hired Irish Life Investment Managers to passively manage the entire €170 million ($293 million) portfolio of its pension plan, Paul Haenen, principal human resources expert in charge of pensions, said in an interview. The firm was awarded a three-year contract, said Ollie Fahey, head of DB portfolio management for Irish Life. The portfolio was passively managed by State Street Global Advisors, and the change in managers was made because of procurement rules, Mr. Haenen said. SSgA ran the portfolio for seven years. Mr. Haenen declined to elaborate on asset allocations.