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Schlumberger adds Voya Financial target-date funds to 401(k) plan
trueSchlumberger Ltd. has added a custom target-date fund series to its $5.3 billion U.S. 401(k) plan, said Gary Park, director of trust investments for the Houston-based oil and gas company.
Voya recruits J.P. Morgan exec to oversee insurance investment management sales
trueJohn D. Simone was named head of insurance investment management sales and solutions at Voya Investment Management.
Voya Investment Management chooses emerging markets debt head
trueJean-Dominique Butikofer has joined the fixed-income team at Voya Investment Management as head of emerging markets, spokesman Christopher Breslin said.
ING Investment Management strengthens emerging markets team
trueAshish Goyal and Robert Holmes were appointed to ING Investment Management International’s emerging market equity team.
U.K. surety bond deal gives new pension funding option
trueA FTSE 100 company has become the first to make surety bonds part of the funding strategy for its defined benefit plan, a new option for corporate executives looking to make good on pension promises.
Schroders adds multiasset position
trueSeth Finkelstein will join Schroders as U.S. product manager, portfolio solutions, within the firm’s multiasset and portfolio solutions business, a spokeswoman said.
Impact of GASB's new pension rules on government bond ratings
trueFor many public sector retirement plan sponsors, the Governmental Accounting Standards Board's new pension reporting rules couldn't have come at a worse time. The changes, effective June 15 and encapsulated in GASB Statements 67 and 68, mandate that governmental balance sheets reflect unfunded ...
CalSTRS staff backs hiring ING as DC plan record keeper
trueCalSTRS' staff is recommending the hiring of ING Investment Management as a third-party administrator and record keeper for the CalSTRS' 403(b) and 457(b) supplementary saving programs.
ING U.S. files with SEC to reduce ownership stake of parent
trueING U.S. filed a follow-on offering with the SEC Monday to further reduce parent ING Group's 57% ownership stake in the firm.
Nomura Asset Management will buy ING's Taiwan money management business
trueNomura Asset Management Co. is partnering with a group of investors to buy ING Group's Taiwanese money manager business, ING Securities Investment and Trust Co. Ltd., Taiwan, according to a Nomura news release.
Michigan rehires administrator of 401(k), 457 plans
trueMichigan Office of Retirement Services, Lansing, rehired incumbent ING U.S. Retirement Solutions as the third-party bundled administrator for the state's public employee $4.3 billion 401(k) plan and $1.8 billion 457 plan.
Kohler sinks 401(k) assets into 2 new options
trueKohler Co., Kohler, Wis., is adding the Fidelity Small Cap Discovery Fund and the Oakmark International Collective Fund as investment options in its 401(k) plan.
Louisiana Teachers gives gold stars to ING, LSV
trueLouisiana Teachers' Retirement System hired ING U.S. Investment Management to run $175 million in active domestic midcap growth equities and rehired LSV Asset Management to run about $850 million in active domestic large-cap value equities.
Lawsuit accusing ING unit of pay-to-play scheme gets green light
trueA federal judge in Connecticut has denied ING U.S.' request for summary judgment, thus enabling a case to go to trial that claims a unit of the company breached its fiduciary duty as a service provider.
ING U.S. Investment Management names institutional distribution leader
trueBas NieuweWeme was named managing director and head of institutional distribution at ING U.S. Investment Management.