The deferred compensation plan replaced its international large-cap value equity manager in the fourth quarter due to underperformance.
The firm’s rebranding followed a research process and feedback from clients, investors and employees.
The firm had been on watch since the first quarter of 2024.
The search is due to the upcoming contract expiration of incumbent Northwest Capital Management.
Pedro Guazo will join the firm after serving as ceo for the United Nations Joint Staff Pension Fund’s office of investment management.
Both job postings expire next month.
The pension plan made commitments totaling $110 million last week.
The fund was oversubscribed and surpassed its fundraising target.
The retirement system will consider placing its international small-cap core equity manager on watch at Friday’s board meeting.
U.S. public pension plans have successfully navigated market turmoil throughout the 21st century by reallocating their traditional investment portfolios and introducing new asset classes, according to new research.