OUTSOURCING: GM winning sweepstakes for Xerox's $9 billion; Myra Drucker part of package if firm gets pension assets.(Brief Article)

Pensions & Investments, April, 2001 by Fulman, Ricki

STAMFORD, Conn. - Xerox Corp. is poised to move its $9 billion in pension assets - and pension chief Myra Drucker - to General Motors Asset Management, sources say. After considering other firms, including J.P. Morgan and State Street Global, as well as the pension fund investment arms of IBM and GE, the sources said Xerox officials are completing their due diligence on GM's New York money management unit.

Once the deal is done, Ms. Drucker would oversee General Motors Asset Management's new outsourcing business. Ms. Drucker is assistant treasurer and chief investment officer at Xerox. Indeed, sources say Ms. Drucker will work closely with GMAM President and Chief Executive officer W. Allen Reed as GMAM, New York, forges ahead with its plan to manage...

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