Los Angeles City Employees’ Retirement System hired Wilshire Associates as the $10 billion system’s general investment consultant, Juan Garcia, system spokesman, wrote in an e-mail response to inquiries.
Wilshire replaces incumbent Pension Consulting Alliance, whose contract expires Dec. 31. PCA rebid.
System officials originally issued an RFP for a consultant in December 2009 but canceled it in April after they had conducted due diligence and reviewed the RFP responses. System officials reissued the RFP on June 2.
Separately, the board renewed for three years the contracts of active equity managers Daiwa SB Investments, which manages $201 million in a Pacific Basin portfolio, and Sit Investment Associates, $196 million in domestic small-cap growth. No RFP was issued.
The system also began advertising for a new general manager to replace Sally Choi, who resigned Oct. 15 to become administrative director of the $5.5 billion Motion Picture Industry Pension and Health Plans, Studio City, Calif.
The salary range is $153,447 to $230,035. Interested candidates should submit a resume detailing applicable background and work experience, a cover letter of interest, and three work-related professional references (include name, job title, affiliation and telephone number) to: Los Angeles Personnel Department, Executive Recruitment, 700 E. Temple St., Room 100, Los Angeles, CA 90012; or e-mail [email protected] Interested parties should direct questions to Charlette R. Starkey at (213) 473-9393.
Tom Moutes, assistant general manager, is the interim general manager. The system did not hire an executive search firm and is handling the search internally.