U.S. Virgin Islands Government Employees' Retirement System, St. Thomas, hired Segal Advisors as investment consultant, said Willis C. Todmann, CFO. Officials for the $1.3 billion fund issued an RFP in October for the fund's first outside investment consultant in several years. RV Kuhns, Callan Associates and Smith Barney were also finalists.
Separately, the board is choosing among six finalists for a new system administrator and hopes to make a decision by the end of June, Mr. Todmann said. The board's recommendation would then be subject to approval of Charles W. Turnbull, governor of the U.S. Virgin Islands. Plan officials began the search after relieving prior administrator Laurence Bryan of his duties in November. Officials did not provide a reason for the dismissal and had initially hoped to have an administrator by the end of January.
