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The plans have worked with incumbent Innovest Portfolio Solutions since 1999.
The plan’s investment committee previously narrowed a search to two recommended hires following finalist interviews held earlier this month.
The plan is seeking record keeping, education, communications and investment-related services.
The retirement system approved the search at last week’s board meeting due to an upcoming contract expiration.
Frank Brochin recently joined Boston-based as cio of private wealth manager Fiduciary Trust Company, leading the investment department, overseeing investment strategy, strengthening its investment platform on behalf of clients and helping expand investment capabilities. Brochin took the time to answer 5 Questions with FIN News.
The university has hired the investment head from a Midwestern institution to serve as its cio and oversee its endowment as its current cio transitions to a part-time senior advisory role.
The plan’s general counsel has been serving in the role in the interim following Brian Collins’ retirement in April.
The termination comes after the plan reduced its risk parity allocation as part of a new policy approved in April.
The town will issue an RFP for investment management services to “see what else is out there” after working with its incumbent since 2014.