SEARCHES & HIRINGS
Miami Beach (Fla.) General Employees Retirement System is preparing RFPs for a custodian search. Fiduciary Trust International of the South, the $220 million fund's current custodian, has had some software problems in the past and consultant Dorn Helliesen & Cottle recommended a search, said Margaret Arculeo, pension administrator.
A deadline for RFPs has not yet been set, but the board is likely to review them at its January meeting. Fiduciary Trust International will be included in the search; a spokeswoman there declined to comment.
Maxus Energy Corp., Dallas, hired Northern Trust as manager of a $60 million S&P 500 index equity portfolio for its $130 million defined benefit plan. Northern replaces two other passive managers, which Dan Imthurn, assistant treasurer, would not identify. Northern already is the plan's custodian and manager of $25 million in bonds. Principal Financial assisted.