CSA Health System, Cleveland, hired Mercer Investment Consulting as consultant to its $230 million foundation, said John Faulstich, senior vice president of finance.
Among Mercer's first duties: develop a new asset allocation policy and search for a master trustee for a new foundation that combines the Sisters of Charity Foundations of Cleveland, Canton (Ohio) and South Carolina and the Saint Ann Foundation. Trustees of each foundation and the CSA treasurer comprise the investment committee, which will approve the new allocation policy and master trustee, Mr. Faulstich said.
The trustee search should begin before the end of the year, with a decision in late January.
Mercer will assist.