Citigroup Inc., New York, hired Principal Global Investors as an underlying manager for its small-cap U.S. equity fund investment option in its two 401(k) plans.
Principal replaced Los Angeles Capital Management and Vulcan Value Partners effective March 22, according to the bank's 11-K filings June 11 with the SEC.
The filings also noted that MFS Investment Management was hired as an underlying manager of the non-U.S. small-cap equity fund in the plan, replacing Dodge & Cox. That change was effective Sept. 30, 2020, according to the 11-K filings.
The filings did not provide a reason for the changes.
As of Dec. 31, the Citi Retirement Savings Plan had $17.9 billion in assets, and the Citi Retirement Savings Plan for Puerto Rico had $48 million in assets, according to the new 11-K filings.
Spokeswoman Jennifer Lowney could not be immediately reached for further information.
