The Markets June 2, 2009

GM Removed from S&P 500

General Motors Corp. will be removed from the S&P 500 index after the close of trading today, Standard and Poor’s announced.
Reported by

GM’s place in the S&P 500 will be taken by S&P MidCap 400 constituent DeVry Inc. (NYSE: DV), and S&P SmallCap 600 constituent Aaron’s Inc. (AAN) will replace DeVry in the S&P MidCap 400. Cbeyond (Nasdaq: CBEY) will replace Aaron’s in the S&P SmallCap, an announcement said.

DeVry is a provider of post-secondary education headquartered in Oakbrook Terrace, Illinois. The company will be added to the S&P 500 GICS (Global Industry Classification Standard) Education Services Sub-Industry index.

Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.

Aaron’s is a specialty retailer of consumer electronics, computers, residential and office furniture, household appliances and accessories, headquartered in Atlanta. The company will be added to the S&P MidCap 400 GICS Homefurnishing Retail Sub-Industry index.

Cbeyond is a provider of managed Internet Protocol-based and communications services, also headquartered in Atlanta. The company will be added to the S&P SmallCap 600 GICS Integrated Telecommunication Services Sub-Industry index.

Standard & Poor’s said it will monitor those transactions, and post any relevant updates on its Web site, www.standardandpoors.com.

GM also will be removed from the Dow Jones Industrial Average at the end of the week (see “Citi, GM Lose Spots on Dow’).

Deals & People June 2, 2009

Plan Sponsor Advisors Announces New Staff

Angelo Auriemma joined Plan Sponsor Advisors as the director of Investment Advisory Services, the firm announced.
Reported by

In his new role, Auriemma will advise clients on a range of defined benefit and defined contribution issues, and will also develop investment policies and assist clients with selecting and evaluating money managers, according to a news release.

Auriemma previously worked as an analyst and portfolio manager for Woodly Farra Manion Portfolio Management, Inc., a boutique investment company, where he established an independent advisory firm dedicated to the selection and monitoring of investment options offered within qualified retirement plans. Prior to that, Auriemma held a variety of positions with National City Bank and Allegiant Capital Management.

Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.

In addition, Michael Kerrigan has joined Plan Sponsor Advisors in the newly created position of director of Sales and Marketing. Kerrigan has spent most of his career with Mercer Human Resource Consulting in Chicago as a business development consultant and principal in the Client Management Practice.

Plan Sponsor Advisors (PSA) is an independent, retirement plan consulting firm, and is not affiliated with PLANSPONSOR. PSA has advised more than $40 billion in retirement plan assets since 2002.

«