A news release said Newport will supply the administrative services formerly provided to Todd clients by TCI while approximately 50 TCI employees primarily located in Greensboro, North Carolina; Richmond, Virginia; and St. Louis Missouri will become Newport employees.
According to the announcement, Todd will continue to offer its lineup of services through a network of more than 50 executive benefits consultants in 14 states and 20 cities.
The deal required the approval of Todd stockholders and was finalized on Wednesday.
Founded in 1957, The Todd Organization helps clients with the design, financing, and administration of non-qualified retirement plans and other executive benefits.
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