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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.
He will be responsible for evaluating new transactions, due diligence, underwriting and collaborating with portfolio companies.
The fund was created to pursue control investments in micro-cap distributed healthcare businesses.