SEARCHES & HIRINGS
Louisiana State Employees' Retirement System, Baton Rouge, is launching a search for global bond managers because its five-year contract with Morgan Grenfell and Putnam Investments expires in September, said CIO Robert Borden. The $4.7 billion system has 10% of assets in global bonds, split about evenly between the two managers. The system expects to issue an RFP next month, Mr. Borden said. New England Pension Consultants is assisting.
Methodist Health Systems Inc., Memphis, Tenn., is searching for its first equity manager for its $120 million operating fund, said Larry D. Spratlin, assistant treasurer. It expects to complete the search in a month and might assign $3 million to the manager.
Gerber Taylor Associates is assisting in the search.
The Roman Catholic Diocese of Rockville Centre, N.Y., hired Putnam Institutional Management to run $25 million in core growth equities for its operating fund. Putnam was hired to diversify the fund's equity portfolio, said Maureen Scaduto, investment manager. She would not disclose the size of the fund. Putnam's mandate is coming from a reallocation of assets.
Buck Consultants assisted.
P.H. Glatfelter Co., Spring Grove, Pa., hired Bankers Trust as master trustee of its $335 million defined benefit plans, said Bob Wood, secretary and assistant treasurer. Mr. Wood would not say whom Bankers Trust was replacing. Glatfelter also will use Bankers Trust for performance measurement and benefit disbursement services. The search was conducted in-house