Public Employees Retirement Association of New Mexico, Santa Fe, hired Metropolitan West Securities as third-party securities lending agent, said Robert E. Gish, CIO. The contract of the $10.5 billion system's previous agent, Boston Global Advisors, expired June 30. Officials had not been satisfied with Boston Global's performance, Mr. Gish said, but the firm was reconsidered as part of the search process. Ed Canaday, a spokesman for Boston Global Advisors parent Goldman Sachs, said the firm has no comment.
The retirement system issued an RFP in the first quarter. Callan Associates assisted.