Regions Financial Corp., Birmingham, Ala., hired Mercer as record keeper for its 401(k) plan, confirmed spokesman Mel Campbell.
The plan will transition to Mercer effective July 1. A blackout period for participants will begin at 3 p.m. CDT on June 25 and end during the week of July 8.
Mercer replaces MassMutual as record keeper for the Regions Financial Corp. 401(k) Plan, which had $856 million in assets as of Dec. 31, 2011, according to the most recent Form 5500 filing. Mr. Campbell could not provide an updated asset size.
Kevin Olsen contributed to this story.
