Salem (Mass.) Retirement System hired equity managers Boston Co. Asset Management and State Street Research, said Marcia Pelletier, executive director of the $71 million plan. Boston Co. will run $6 million in active international equities and SSR will handle $3.3 million in active domestic small-cap growth, Ms. Pelletier said. The SSR hiring is subject to successful contract negotiations. Segal Advisors assisted.
Previous international equity manager Bank of Ireland and MFS, which ran a small-cap to midcap portfolio, were both terminated for performance, she said. John Reilly, MFS spokesman, and Anne Banks, Bank of Ireland spokeswoman, did not return calls by press time seeking comment.