Fiduciary Counselors is a registered investment adviser that acts as an independent fiduciary for pension plans in the United States. Nell Hennessy (See Movements: Company Stock ), former deputy executive director and chief negotiator of the Pension Benefit Guaranty Corporation (PBGC), will continue to head the company, according to a news release.
Hennessy and Fiduciary Counselors are no strangers to the spotlight of high profile employer stock independent fiduciary transactions. In the past five years, the company has acted in that capacity for such companies as USAirways ( See Aon Move Cushions Bankruptcy Impact on USAir Workers ) , United Airlines (See UAL Calls in Independent Company Stock Fiduciary ), Northwest Airlines and Federal-Mugul Corp.
Terms of the deal were not disclosed.