First Chicago Hires Putnam and Bisys

First Chicago Corp. has selected Bisys Group Inc. and Putnam Investments to help it sell 401(k) retirement planning services.

Bisys, based in Little Falls, N.J., will provide marketing, sales support, and record-keeping services for a new 401(k) service aimed at small and midsize companies.

Putnam will act as a record keeper for a new 401(k) service aimed at large companies. Both 401(k) services will offer First Chicago's and Putnam's mutual funds as investment options.

First Chicago has sold 401(k) services before. But the new services will have better investment options, better shareholder record keeping, better customer service, and improved enrollment and education materials, said David Kling, the banking company's managing director of retirement services.

"We've improved our functionality and capability," he said.

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