US - General Motors Investment Management, a subsidiary of General Motors Asset Management (GMAM), has been appointed investment manager for Xerox's $8bn retirement and savings plans.
GMAM and its affiliates will manage Xerox’s US and Canadian pension plans and US savings plans. Under GMAM’s Flexible Plan Outsourcing program, GMAM’s services will include overseeing investment management, asset allocation and the selection, evaluation, and monitoring of investment managers.
Myra Drucker, formerly the chief investment officer for Xerox, has joined GMAM as chief investment officer for GM Trust and will be the principal liaison between GMAM and Xerox.
By Janet Du Chenne
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