Belmont (Mass.) Contributory Retirement System named State Street Global Advisors, Julius Baer, Delaware International and Brandywine as finalists in the $50 million plan's search for a commingled international equity manager to run $5 million, said Susan Freiner, town treasurer and plan trustee. The new firm will replace Putnam, which was terminated in the fourth quarter following market-timing accusations and personnel turnover, said Marion Cote, retirement administrator. Trustees will interview finalists March 29, and they might make a selection that day, Ms. Cote said. New England Pension Consultants is assisting.
"We are disappointed about their decision but hope that we will have the opportunity to manage investments for them again in the future," said Laura McNamara, Putnam spokeswoman.