Executive benefit growth drives Newport Group expansion
The Newport Group, a retirement and executive benefit plan provider, announced the launch of a major new client service center in Dallas based on rapid growth of its deferred compensation and executive benefits business lines.
“With the size and strength of our existing operations, we are well-positioned to expand our executive benefits business and further increase our presence in the Western half of the United States,” Newport CEO Peter S. Cahall said in a press release.
“Recent consolidations of service providers in the executive benefits marketplace have solidified Newport’s position as the premier provider of these types of plans,” Cahall added. “With the size and strength of our existing operations, we are well-positioned to expand our executive benefits business and further increase our presence in the Western half of the United States.”
Cahall noted that the firm’s Dallas operations will offer consulting, financial services, client relationship management, and plan administration to sponsors of executive benefit plans — services which will complement those provided by the firms’ other executive benefits service centers in Orlando, Fla. and Richmond, Va. Cahall said Newport expects to have the service center fully staffed by the close of the second quarter of this year.
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