Rhode Island Higher Education Savings Trust, Warwick, hired four managers to handle five age-weighted portfolios.
Fleet Investment Advisors was hired for small-cap equity; Montgomery Asset Management, international equity; Brown Brothers Harriman, domestic bonds; and J.P. Morgan, large-cap equity.
The trust, scheduled to begin operating at the end of September, is expected to bring in $10 million to $20 million in the first year.
Nathan Fischer was named CIO for the $9 billion State of Hawaii Employees' Retirement System, Honolulu, replacing Stanley Siu, who retires Aug. 31. Mr. Fischer yesterday resigned as CIO for the $2.3 billion San Bernardino County Employees' Retirement Association, San Bernardino, Calif