Washington State Investment Board, Olympia, issued an RFP for executive search firms, confirmed John Lynch, contracts and public records manager for the board.
The board, which oversees $80.4 billion, is looking to create a pool of firms to provide ongoing professional recruitment services for the hiring of investment professionals, such as chief investment and other officer levels, according to the RFP.
There are some vacant investment officer positions at the board, but no searches are immediately planned, Mr. Lynch said.
The selection process will have two tiers. WSIB will select a pool of contractors with the RFP and then, as the board determines a need for a specific service, it will release a work project request to one or more firms in the pool.
EFL Associates is the board's current executive search firm. Their contract ends June 30 and they are invited to rebid.
Mr. Lynch said the board has been pleased with EFL but wants a broader pool of firms that can offer “specialized expertise” for different investment positions.
The “optional-use” contracts will be for five years with the option to extend another five years.
The RFP is available on the board's website at www.sib.wa.gov/opportunities/docs/rfp1203.pdf.
Proposals are due by 4:30 p.m. PDT April 13. Finalist interviews will start May 14 with a decision expected by May 21.