Searches and Hires

Westfield Contributory rehires Loomis Sayles, adds Wasatch for domestic small-cap value

Westfield (Mass.) Contributory Retirement System rehired Loomis Sayles & Co. to manage $5 million in an active U.S. small-cap value equity strategy and hired Wasatch Advisors to run $4.4 million in the same strategy.

Loomis Sayles originally managed the entire portfolio, but the board hired a second manager to run part of the mandate.

The RFP was issued in May to comply with state laws regarding contract terms, said Raymond Depelteau, chief investment officer for the $230 million fund. WisdomTree Investments was the third finalist.

The system had a target asset allocation of 60% to domestic equities as of June 30.