Los Angeles County Employees' Retirement Association will issue an RFP...

Los Angeles County Employees’ Retirement Association will issue an RFP to Barclays Global Investors and State Street Global Advisors to run the $24.76 billion fund’s $8.2 billion in domestic and international passively managed equity portfolios. In July, five individuals resigned from LACERA’s current index fund manager Deutsche Bank, formerly Bankers Trust. Following a meeting with Deutsche Bank, LACERA staff issued a memo expressing concern over seven more people leaving; the new head of passive investment management, Kathleen Condon, being close to retirement; and Deutsche’s recruitment efforts being "focused on their active quantitative strategies, a higher fee business, rather than on replacing the departed passive managers.’’ The memo added Deutsche Bank could lose assets because ‘‘continuous internal problems that have plagued the organization’’ have been well-publicized. A spokeswoman for Deutsche Bank declined to comment.