Consultant/OCIO/Discretionary
PFM Asset Management currently provides investment advisory services for the trust.
The plan also placed two investment managers on watch last month.
The deal, which is expected to be completed by the end of March, will add $292 billion in assets under advisement and about 40 employees to the firm’s institutional practice.
The investment division last conducted an RFP for the services in 2018.
An investment consultant is adding approximately $2 billion in client assets through the acquisition of two registered investment advisors and wealth management firms.
The deadline for proposals in a search for a firm to provide investment consulting services has been extended by two days.
The firm has expanded its executive leadership team by promoting three v.p.s to head of client development, head of human resources and office services and general counsel.
The retirement plan’s incumbent consultant firm lost a senior v.p. last month.
The authority is seeking an investment consultant for its over $300 million in retirement plan assets.
The hire concludes an RFQ search launched in September.