Anne Arundel system hires manager for value equities

Anne Arundel Retirement System, Annapolis, Md., hired Westwood Holdings Group to run an active domestic large-cap value equity portfolio, according to John Hammond, chairman of the $1.2 billion system. The previous manager, Pacific Financial Research, was terminated after the firm was acquired by Barrow, Hanley, Mewhinney & Strauss, he said. Westwood received the entire $83.8 million, Mr. Hammond said.