Deals & People September 12, 2007

Hewitt Creates Defined Contribution Consulting Group

Hewitt Associates has established a U.S. Defined Contribution (DC) Consulting practice.
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The newly-formed practice will offer defined contribution services, including strategy and plan design, cost and risk management, investment consulting, behavioral finance, administration, communication, and legal and compliance consulting, according to Hewitt.

In addition, the DC Consulting practice will be available to provide companies with retirement consulting and outsourcing solutions.

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“As employees are encouraged to take more responsibility for their health and financial futures, defined contribution plans will continue to play an increasingly important role,” said Mary Moreland, leader of Hewitt’s Retirement and Financial Management business in North America, in a company announcement.

The new unit will be led by Alison Borland, who has spent more than a decade helping organizations navigate the challenges and risks associated with retirement income and postretirement welfare programs, with a focus on defined benefit and defined contribution strategy and design.

Prior to being appointed to her new role, Borland was a principal and senior benefits consultant in Hewitt’s Retirement and Financial Management business.

Deals & People September 12, 2007

El-Erian Leaves Harvard and Returns to PIMCO

Newport Beach, California–based PIMCO announced Tuesday that the former head of Harvard University’s endowment is returning to help run the Golden State money manager.
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A PIMCO news release said Mohamed El-Erian, its former Managing Director and Senior Portfolio Manager, will return in January 2008 in a newly created position as Managing Director and Co-CEO and Co-CIO.

In his new position, El-Erian will join CEO Bill Thompson and Chief Investment Officer and company founder Bill Gross, as a member of PIMCO’s senior management team.

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El-Erian, 49, comes back to the firm from the Harvard Management Company (HMC), where he has been President and CEO since October 2005. Before joining HMC, El-Erian had worked at PIMCO for seven years, the company said.

“The demands and complexities of our current positions suggest that the addition of a unique talent such as Mohamed’s will enhance both of our contributions going forward.” Thompson said of himself and Gross.

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