Cannondale Corp., Bethel, Conn., hired Scudder Kemper to provide bundled services for its $5 million 401(k) plan, according to Jean Benson, director of human resources.
MetLife, New York, had provided the investment options.
Cannondale also increased the number of investment options to 10 from six. New options are Scudder's stable value, income, growth and income, value, small-company value, global and stock index funds, as well as three Pathway asset allocation funds: balanced; conservative; and growth.
Raymond K. McCulloch has been promoted to manager of the trust division of BB&T Corp., according to Ken Miller, executive vice president.
Mr. McCulloch replaces Ray Long, who retired June 30 after 36 years in the position.
After his retirement, Mr. Long stayed in the position, acting as an adviser/consultant until Mr. McCulloch's selection. Mr. McCulloch previously was manager of institutional trust services, and has been with BB&T for six years