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The consulting firm is adding nearly $5 billion in client assets and expanding its presence in New England through the acquisition of a registered investment advisor with over 100 employees.
The firm’s new wealth division cio will join in February from BlackRock.
The plan placed an emerging markets equity manager on watch for performance reasons.
The responsibility for investing the city’s cash and trust funds previously resided with the finance manager and treasurer.
The plan rehired its incumbent to provide administrative, investment and communication advisory services.
Leech allegedly engaged in cherry-picking and assigned over $600 million of gains to favored clients and over $600 million of losses to disfavored clients over several years.
He left the firm last week to pursue a new opportunity with an investment management firm.
A return to strong funding levels among defined benefit plans has led many to evaluate how to utilize their surplus, according to industry experts.
The plan’s options could range from minor tweaks to the addition of private equity and emerging markets equity allocations.
The firm hired a v.p. of business development to oversee the strategic development of its intermediaries initiative.