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Article: CSFB saves $115 million with Black Mountain's benefits administration, enrollment solutions.
- Article from:
- Employee Benefit News
- Article date:
- June 15, 2002
- Author:
CopyrightCOPYRIGHT 2002 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In the world of benefits outsourcing, there is partnering, and then there are partnerships.
Nothing exemplifies the latter better than the relationship between Credit Suisse First Boston (CSFB) and Black Mountain Group, a global benefits administration firm.
Stephen Medici was the compensation and benefits manager for CSFB in 1994 when the investment bank was considering outsourcing its benefits administration. With CSFB's blessing, Medici quit the company, formed Black Mountain and hired his entire staff of nine. CFSB became Black Mountain's first client.
David O'Leary, global head of human resources for CSFB, puts it this way: "Here we had a ...