Montgomery County Employees’ Retirement System, Norristown, Pa., hired Northern Trust Corp. as transition manager, confirmed Uri Monson, county chief financial officer.
The $465 million pension fund issued an RFP in January for at least one firm to provide transition management services for its move to its first outsourced investment managers, SEI Investments and Vanguard Group.
The two managers were hired in December following the adoption of a new investment policy that gives the firms fiduciary responsibilities.
Mr. Monson said Northern Trust is currently evaluating the timing of the transition.
