CitiStreet Total Benefits Outsourcing Division Names Chief Information Officer; Andy Marsh to Drive New Technology For Delivery of Employee Benefits.

Business/Technology Editors

SAN DIEGO--(BUSINESS WIRE)--June 18, 2001

CitiStreet, one of the nation's largest providers of benefits products and services to businesses and non-profit entities, has named Andy Marsh as chief information officer for its total benefits outsourcing division in Jacksonville, Fla., the company announced today.

"I am excited to be leading CitiStreet's strategic technology initiatives as we enter a period when the nature and delivery of employee benefits are changing dramatically," Marsh said. "As cost pressures increase, employers and service providers are leveraging technology to bring more information and choice to their employees."

Marsh's appointment was announced at the International Association for Human Resource Information Management's 21st annual conference, where he was on hand to confer on CitiStreet's continued investment in technology, including its platform for cost-effective outsourced administration of integrated retirement, health and welfare employee benefit programs.

Marsh said he will focus on further investments in technology aimed at employees and their dependents, noting the growing trend of employers shifting more of the responsibility for retirement and health care decisions to employees.

"A mobile workforce and a tight labor market mean that employers must offer cutting-edge tools that empower their employees to make the right financial and health care decisions," Marsh said. "Integrated systems that are secure and easy to use, and include reliable financial and health-related content, as well as advice from knowledgeable specialists, will replace the paternalistic programs that employers have traditionally offered their workers."

He said access to information, tools and advice must be simple. Employees and their dependents will use one portal to access the help they need to formulate and exercise their financial and healthcare decisions. Personal information and transactions will be secured behind one point of authentication, requiring a single user-ID and password, he said.

CitiStreet's Jacksonville division provides comprehensive benefits administration services for plan sponsors and employees, including defined benefit, defined contribution, health and welfare and equity benefit plan services.

Marsh came to CitiStreet with more than 10 years of experience in benefits administration and more than 15 years in systems development at companies that include PWC Kwasha HR Solutions in New Jersey and Andersen Consulting. He received a bachelor's degree in management information systems/decision sciences from George Mason University.

About CitiStreet

CitiStreet, one of the largest global benefits delivery firms in the United States, is headquartered in Quincy, Mass. It has 3,000 employees and offices in East Brunswick, N.J., Jacksonville, Fla., Minneapolis and Boston, and 35 field offices around the nation. CitiStreet services about 6.5 million participants and administers approximately $200 billion in assets for defined contribution, defined benefit and health and welfare plans of corporate, government, health care, Taft-Hartley and not-for-profit organizations. CitiStreet is a 50/50 joint venture between State Street Corp. (NYSE:STT) and Citigroup (NYSE:C).