Michael Schlachter, a senior consultant and managing director at Wilshire Associates and one of two lead consultants for the $295.5 billion California Public Employees' Retirement System, Sacramento, is leaving the investment consulting firm.
Julia Bonafede, president of Wilshire Consulting, said in a statement: “Michael has been a dedicated member of the Wilshire Consulting team, and his commitment to our clients and the firm was greatly appreciated. We wish him well. …
“Andrew Junkin, managing director (and the other Wilshire consultant to CalPERS) … has worked closely with Michael as co-leaders of major client relationships and will continue to provide thought leadership and investment counsel to their shared clients.”
Mr. Schlachter was traveling and did not return phone calls, but in a statement provided by Wilshire, he said: “I have greatly enjoyed working with a wide variety of highly respected clients and outstanding colleagues during my 15 years at Wilshire Associates. This was an excellent opportunity I could not resist. I look forward to continued productive relationships in my new capacity.”
Neither he nor Ms. Bonafede would say where Mr. Schlachter would be working, but Ms. Bonafede did say he would be transitioning from investment consulting “into asset management.”