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The new hires will provide specialist investment solutions across asset classes and geographies to international institutional investors.
The firm had suffered from asset decline and underperformance.
The plan has issued an RFP for an executive search firm to recruit its next executive director.
The acquisition is expected to close in the first half of this year.
The plan added two managers to its equity portfolio after increasing the target last year.
The plan disclosed the hire of a new emerging market debt manager at today’s board meeting.
He will retire in June after co-founding the firm in 2004.
The new hire and promotion are in conjunction with the cio’s upcoming retirement.
His resignation follows a personal trip to the United Arab Emirates to receive a COVID-19 vaccine.
Plan replaced its domestic small-cap value equity manager from a group of three candidates this week.