Plansponsor.com originally reported the news earlier in the month, but now the official announcement has been made.
GMAM and its affiliates will be responsible for the management of Xerox’s $8 billion US and Canadian pension plans and US savings plans. Under GMAM’s Flexible Plan Outsourcing program, GMAM’s services will include the following:
- investment management,
- asset allocation,
- general research, and
- the selection, evaluation, and monitoring of investment managers
GMAM is a wholly-owned subsidiary of General Motors Corp. Together with its affiliates, GMAM has the responsibility for managing approximately $100 billion in pension, 401(k) plan and other assets.