Scudder, Stevens & Clark's retirement plan marketing team is on a roll.
Robert A. Rudell, director of defined contribution services for Scudder, said he expects to have 40 new 401(k) plans on board in 1997. The new sponsors will bring in at least $200 million for the New York-based firm to manage.
Scudder currently manages at least $3.9 billion in 401(k) assets. Known primarily for its mutual funds, Scudder manages a total of $100 billion in assets.
Mr. Rudell, who joined Scudder earlier this year from American Express Institutional Services' 401(k) group, doubled the size of the marketing staff to 14.
Scudder is targeting employers whose eligible participants could bring in $5 million to $50 million in managed assets. New accounts include Tiffany & Co., Tops Appliance City, Diamond Offshore Drilling Inc., and Mycogen Corp.
Mr. Rudell credits the recent success to product development established before his arrival that allows for "a la carte" service choices for middle- market plans.
"That level of customization is available to larger sponsors, but it is not as prevalent in our target market," Mr. Rudell said.
