The position will be responsible for quantitative and qualitative research on prospect managers and strategies.
The retirement board hired a new manager to handle its entire portfolio after issuing an RFP last year.
The two managers were placed on watch last quarter for performance reasons.
The plan hired two of five firms interviewed for the mandate last week.
The plans adopted the new asset allocation following an asset study by their general investment consultant.
The current cio is retiring this month, concluding 25 years of service to the plan.
The plan last conducted a general investment consultant search in 2013.
The plan interviewed three domestic small-cap growth equity managers in August for the mandate.
The investment officer is retiring this week after nearly 20 years with the city.
Wealthspire Institutional was first established last year through the combination of five entities.