University of California, Oakland, hired Richards & Tierney as investment consultant for its $59.1 billion in retirement and endowment assets, replacing Wilshire, according to Trey Davis, director-special projects. Callan Associates, Ennis Knupp & Associates and Strategic Investment Solutions were the other finalists. In all, 15 firms submitted proposals. Richards & Tierney has a three-year contract. Wilshire had been the consultant for four years. Further details weren't available.
Separately, the university treasurer's office is seeking an absolute-return strategies investment officer for its retirement and endowment funds. It has $241 million in absolute-return strategies investments with 10 external managers. Candidates may apply through the treasurer's office.