West Virginia Investment Management Board, Charleston, is searching for an investment manager to run $350 million in an enhanced cash pool, replacing Bank One, which is being terminated for performance, said H. Craig Slaughter, executive director. The deadline for proposals is May 31. Tim Holihen, managing director of Banc One Investment Advisors institutional asset management group, did not return calls seeking comment by press time. Summit Strategies is assisting.
The board also hired the law firm of Millberg Weiss Bershad Hynes & Lerach to advise it on securities class-action lawsuits, Mr. Slaughter said. The investment board also chose Bernstein Litowitz Berger & Grossman and Berman DeValerio Pease Tabacco Burt & Pucillo as backup firms, he said.