Phoenix Employees' Deferred Compensation Board rehired Morley Capital Management as stable value fund manager for the city's $1.5 billion 457 plan and $542 million 401(a) plan.
The board issued an RFP in January for an underlying manager for its Phoenix Stable Income Fund, and recommended awarding the services to Morley at its March 18 meeting, a letter of award recommendation posted on the city's website shows.
Phoenix's city council will make final approval of the hiring at its April 21 meeting. Morley Capital Management was the incumbent manager and was rehired the last time services were put up for bid in 2014.
Yolanda Briseno, the board's program coordinator, could not be immediately reached for further information, including how much Morley manages for the plans.