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The wealth management firm has named its next chief fiduciary officer to oversee all fiduciary administration for trust and estate services as its previous fiduciary head is set to retire.
The foundation hired a private credit manager and made commitments to two existing private equity managers during the first quarter.
Plan made commitments to eight existing managers and one new manager last month.
New investment analyst previously served on the retirement system’s board of trustees.
Plan’s new global credit manager will handle an approximately $700 million mandate.
She will lead the development of artificial intelligence and machine learning methods.
The firm replaces a manager that is closing next month.
Plan expects to receive a recommendation at its Oct. 12 board of investments meeting.
City is searching for a non-discretionary manager for its $150 million portfolio.
The plan made a $20 million commitment at its special meeting yesterday and anticipates making annual commitments to additional funds moving forward.