St. Louis City Employees' Retirement System is conducting a shortlist search for active domestic large-cap equity managers that could replace Wellington and RCM, both on the $475 million system's watchlist for performance and organizational reasons, said Dan Holmes, managing director of consultant Summit Strategies, which is compiling the shortlist. Wellington runs $45 million in value; RCM handles $38 million in growth. Both firms will be included in the search, Mr. Holmes said. Wellington and RCM will be reviewed by trustees at the system's Dec. 27 board meeting.
Jennifer Callahan, RCM spokeswoman, declined to comment. Richard Frank, secretary of the retirement system, and Lisa Finkel, Wellington spokeswoman, did not return calls by press time seeking comment.
