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Industry At A Glance

Cincinnati R.S. Faces Board Shake-Up

September 2, 2010 - The nearly $2 billion City of Cincinnati Retirement System (CRS) could see some new faces on its Board of Trustees come October. Following the passage of a new City ordinance, Roxanne Qualls, vice mayor and newly appointed ...

New Mexico ERB Loses Chairman

September 2, 2010 - The Chairman of the New Mexico Educational Retirement Board (NMERB) has resigned from his position, effective immediately. In a statement on the NMERB Web site, the plan notes that Bruce Malott has left the seven-member board. In the interim ...

Scout Acquires Reams Asset Management

September 2, 2010 - In a deal that will more than double its assets under management, Scout Investment Advisors, a Kansas City, Mo., unit of UMB Financial, announced Thursday it signed a definitive agreement to buy Reams Asset Management ...

Hewitt and Ennis Knupp Close Acquisition Deal, Announce New Moniker

September 2, 2010 - After roughly a month of deliberation, Hewitt Associates said Thursday that its acquisition of investment consultant powerhouse Ennis Knupp + Associates has been approved. The new entity, which will assume the name of Hewitt EnnisKnupp ...

California Legislators’ Pass Placement Agent Bill

September 1, 2010 - Current concern surrounding placement agent activity and its ties to state pension funds investment contracts seems to have fueled the passage of California Assemblyman Ed Hernandez’s (D-West Covina) February legislation. At the start of the ...

SEC Issues Report Cautioning Credit Rating Agencies

September 1, 2010 - The Securities and Exchange Commission (SEC) issued a report Tuesday cautioning credit rating agencies about deceptive ratings conduct. The SEC also reminded the agencies of the importance of sufficient internal controls over the ...

Ticonderoga Partners With Shenyin Wanguo for Equity Research, Execution

September 1, 2010 - Ticonderoga Securities LLC, an institutional broker dealer, said Tuesday it is partnering with Shenyin Wanguo Securities Ltd (SWS), one of the largest securities houses in China, to provide research and execution services to Ticonderoga’s ...

Former CalPERS Board Member Mum on Placement Agent Use

August 31, 2010 - When faced with questioning from the state Attorney General’s office earlier in the month, Charles Valdes, a former California Public Employees’ Retirement System (CalPERS) Board member, exercised his Fifth Amendment right more ...

Cornell CIO Received Hefty Bonus Package

August 31, 2010 - As Cornell University’s endowment plummeted in 2009, incentive and bonus pay for its departing CIO James Walsh skyrocketed to more than $400,000 for the period. According to tax documents filed by the Ithaca-based institution ...

Plea Deal Expected in IBEW Embezzlement Case

August 31, 2010 - A former Niagara Falls, N.Y. mayor could plead guilty Thursday to charges that he embezzled funds from an International Brotherhood of Electrical Workers (IBEW) Local 237 pension fund. Vincenzo Anello is slated to appear before U.S. District ...

Virginia Retirement System Returns 14.1%

August 31, 2010 - Thanks to the exceptional performance of its credit and private equity commitments, the Virginia Retirement System (VRS) posted a positive double-digit return for the 2010 fiscal year. The Richmond-based system’s CIO Charles Grant ...

Ohio Funds Can Move Case Along Against Bank of America, Merrill Lynch

August 30, 2010 - A New York Federal District Court has “substantially denied” Bank of America Merrill Lynch’s motions to dismiss a September 2009 case filed by Ohio Attorney General Richard Cordray on behalf of five pension funds. According to Judge P. Kevin ...

North Dakota Audit Results Could Bring Changes

August 30, 2010 - While the results of an investment audit of the North Dakota State Investment Board (SIB) found no wrongdoing by former Executive Director and CIO Steve Cochrane, suggestions were made about the agency’s manager hiring process. In a phone ...

Schwab to Buy Boston Investment Manager

August 30, 2010 - Charles Schwab Corp. announced Monday that it has agreed to buy Windward Investment Management Inc., a Boston investment advisory firm. San Francisco-based Schwab said it would play $150 million in stock and cash when the ...

Pennsylvania School Employees’ Surpass Benchmark

August 30, 2010 - The Pennsylvania School Employees’ Retirement System (PSERS) is thanking its hearty commitment to U.S. fixed-income and private markets for the recent upsurge in investment dollars. For the year ending June 30, the fund added ...