Executive benefit growth drives Newport Group expansion

The Newport Group, a retirement and executive benefit planprovider, announced the launch of a major new client service centerin Dallas based on rapid growth of its deferred compensation andexecutive benefits business lines.

“With the size and strength of our existing operations, we arewell-positioned to expand our executive benefits business andfurther increase our presence in the Western half of the UnitedStates,” Newport CEO Peter S. Cahall said in a press release.

“Recent consolidations of service providers in the executivebenefits marketplace have solidified Newport’s position as thepremier provider of these types of plans,” Cahall added. “With thesize and strength of our existing operations, we arewell-positioned to expand our executive benefits business andfurther increase our presence in the Western half of the UnitedStates.”

Cahall noted that the firm’s Dallas operations will offerconsulting, financial services, client relationship management, andplan administration to sponsors of executive benefit plans —services which will complement those provided by the firms’ otherexecutive benefits service centers in Orlando, Fla. and Richmond,Va. Cahall said Newport expects to have the service center fullystaffed by the close of the second quarter of this year.