Outboard Marine Corp., Waukegan, Ill., has identified three candidates to replace First Chicago NBD as master trustee of the company's $350 million defined benefit plan and its $70 million 401(k) plan. Robert Broshat, manager of corporate treasury operations, said he will interview Bank of New York, LaSalle Bank and Northern Trust later this month. The choice, he said, ``will probably come down to price.'' He said it's possible each plan will hire its own trustee.
First Chicago NBD is exiting the trust/custody business, and has recommended clients switch to Northern Trust.