Deals and People April 21, 2003

Gross Named to PBGC Investment Post

April 21, 2003 (PLANSPONSOR.com) - Jared Gross has been named special assistant to the executive director of the federal pension insurance agency, with responsibility for helping to review the agency's investment strategy.
Reported by

According to an announcement from the Pension Benefit Guaranty Corporation (PBGC), Gross comes from the US Treasury Department, where he served as senior advisor to the under secretary for domestic finance. In that position he coordinated policy on a range of topics, including debt management and related bond-market issues, government credit allocation, financial market stability, and oversight of financial institutions.

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Gross previously served as a senior advisor to the Treasury Department’s deputy assistant secretary for federal finance, with a focus on debt-management policy. Before his government service he was senior associate for emerging markets fixed-income trading at Credit Lyonnais Securities, New York City, and associate for capital markets at The Weston Group, New York City. Gross earned his bachelor’s degree in political economy from Williams College.

The PBGC holds more than $25 billion in assets with roughly two-thirds in Treasury securities and one-third in equities. The agency’s investment policy has been unchanged since 1994. The PBGC steps in to assume private-sector pension plans from ailing or bankrupt companies.

Products April 18, 2003

Sky Financial Group Adds Retirement Services Division

April 18, 2003 (PLANSPONSOR.com) - Plan sponsors in small- and mid-market companies will have a new retirement plan services provider catering to their needs from Sky Financial Group, Inc.
Reported by

Sky Retirement Services is the new business unit offering sales and service related to 401(k), profit sharing, pension plans and other related institutional retirement services and comes from the combination of three Sky subsidiaries:   Sky Trust, Sky Insurance and M&E Investments.   In creating this new division, Sky has consolidated operational and support functions common to each of the financial services subsidiaries to provide a support structure to the sales and client management functions across the entire organization, according to a news release.

As a part of this move, the Pepper Pike, Ohio-based company also has enhanced its suite of retirement products to include new proprietary and non-proprietary retirement solutions. The company now offers a line of retirement products suited to commercial, insurance and private banking clients.

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Clients will be able to access Sky Retirement Services through any of the company’s banking, trust, investment or insurance offices located throughout Sky’s footprint, which includes Ohio, northern Indiana, western Pennsylvania, southeast Michigan and northern West Virginia.

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