Iron Workers Local 395, Hammond, Ind., hired Columbia Management as a short- term fixed-income manager to handle $4 million for its Taft-Hartley plan, said Jeffrey Chidester, financial secretary-treasurer. Columbia replaces Mercantile National Bank of Indiana, which was terminated for performance-related reasons. He declined to provide the amount of the plans assets.
Officials at Mercantile did not comment by press time.
The search was conducted in-house.