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A Midwest retirement system is seeking consulting services on behalf of its deferred compensation plan.
The plan’s investment officer departed after less than one year in the role.
The firm’s head of business development will depart as part of a restructuring.
The plan is monitoring the firm due to senior fixed-income leadership transition.
The plan replaced its domestic mid-cap value equity manager, which had been on watch since January 2022 due to underperformance.
The plan concluded its private equity manager search conducted for pacing purposes.
He joins the firm from BlackRock as is based in West Palm Beach, Fla.
The retirement system will also announce a new executive director next week.
The deferred compensation plan is seeking both record keeping and custodian services.
The commitment will help move the retirement system closer to its 30% non-core real estate target.