Search
 

Silver AHA Award Winner in Retirement

HALLIBURTON CO.

By Staff Writer | Updated on November 06, 2007

When Halliburton decided to separate its KBR unit and establish the construction and engineering business as a standalone company, it faced a daunting task: Culling out $8 billion from 16 retirement plans that were invested in common trusts. What made the split especially challenging was the fact that the $22.5 billion, Houston-based oilfield services giant eschews mutual funds, preferring separately managed accounts with more than 20 investment managers, explains Sharon Parkes, director of trust investments. “Companies that invest in mutual funds for 401(k)s can just tell the fund company what needs to be done, and have them do it,” Parkes notes.

Well before the IPO, the company established separate plans for KBR Inc. employees and mirrored the Halliburton investment options, so that the accounts were comparable by the split-off date in April 2007. State Street Bank & Trust Co., the trustee and custodian, created a new master trust for the KBR plans.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2024 ALM Global, LLC. All Rights Reserved.