The Milwaukee City Employes' Retirement System selected a manager to replace Putnam, which ran $277 million in international equities for the $3.8 billion system, said Jennifer Shannon, CIO. The board did not disclose which of the five finalists — Artisan, Fidelity, J.P. Morgan Fleming, MFS and William Blair — was selected pending finalization of contract terms and board approval, she said. She couldn't say when approval will occur. The new portfolio will be active core with a growth tilt, she said. Putnam, which will run the portfolio until the new manager is in place, was terminated for performance and loss of key portfolio managers as a result of investigations into market-timing activities, she said. A Putnam spokesman did not return a call seeking comment by press time.