Atlanta (April 21, 2004) -- In an effort to more closely align itself with its parent firm, RSM McGladrey said that it has renamed its MyBenefitSource Inc. payroll and employer services company RSM McGladrey Employer Services Inc.

RSM McGladrey Business Services offers integrated benefits brokerage, benefits administration, payroll, and human resources data management services for approximately 1,000 businesses around the country.

"Even though the name just changed, it's been an evolution going on for the better part of this year, it's not a sudden thing," said RSM McGladrey Business Services spokesman David Morrison. Morrison said that the company was first formed nearly six years ago under then-owner Ed Cain, who wanted "a one-stop shop for companies to get payroll benefits."

MyBenefitSource was eventually sold to H&R Block, as Morrison said that it fit in with their business services division, which is now all under RSM McGladrey.

"If the new name sounds broad, that's our intention," Robert Digby, president of RSM McGladrey Employer Services, said in a statement. "This company has evolved into a source for a wide variety of employer services for streamlining HR administration, simplifying payroll processing and providing better benefits at a lower cost."

RSM McGladrey Employer Services recently invested heavily to improve operational efficiencies, streamline and enhance technology, and recruit top talent in tax, payroll, employee benefits and other HR management functions. The company has 130 employees at offices in Atlanta; Schaumberg, Ill.; Minneapolis; Raleigh and Charlotte, N.C.; San Diego and Irvine, Calif.

Separately, RSM McGladrey also recently named Douglas R. Manchester president of its RSM Retirement Resources unit, effective May 1. A long-time veteran of the retirement plan services niche, Manchester most recently served as a senior vice president with financial services provider TD Waterhouse. He also held management posts at Fidelity Investments.

-- Seth Fineberg

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