Jakema Lewis

The Kern County Employees’ Retirement Association (KCERA) has officially kicked off its search for an investment consultant, a contract currently held by Santa Monica, Calif.-based Wilshire Associates.

The California asset manager said it agreed to pay $217 million to cover investor losses as well as a $25 million civil penalty, in a settlement with the SEC over a coding error in its risk model. The firm's chairman, Barr Rosenberg, resigned, after a probe into errors in the firm's data systems.

When it comes to hedge funds winning institutional business, the amount of resources dedicated to client service means everything and more, a study of mid-sized firms has concluded.

According to the consulting firm’s findings, the deficit in pension plans sponsored by S&P 1500 companies decreased by $56 billion to $373 billion at the end of October, resulting in a funded status of 78%.

When it comes to large-cap equity investing, smaller asset management firms are proving to outperform their larger peers in the asset class, according to research compiled by Northern Trust.

SNW Asset Management, a wholly owned subsidiary of Seattle-Northwest Securities, hired Tim Benzel as an assistant portfolio manager.

In a move that “further enhances the fixed-income capabilities of the firm,” Highmark Capital Management has hired Jeffrey Klein as VP and portfolio manager for its Fixed Income Group, the Union Bank subsidiary said Tuesday.

Advantus Capital Management, a Minnesota firm with more that $20 billion in institutional assets, has named Randal Harrison, VP and director of its insurance advisory practice, effective immediately. He succeeds Marilyn Froelich.

SunTrust Robinson Humphrey, the full-service corporate and investment banking arm of SunTrust Banks, has beefed up its institutional fixed-income team with the addition of six professionals, the firm said.

Kathleen Kennedy has joined Boston-based Columbia Management where she will head the firm’s consultant relations efforts. Her role with the asset manager is effective immediately, a Sept. 20 announcement said.

Fixed-income money manager Cutwater Asset Management has entered into a strategic partnership with Tandem Global Partners, the New York firm announced today.

Financial institution ING Investment Management has hired professionals from Columbia Management and Invesco to focus on strengthening the firm’s relationships with institutional investment consultants.

Asset manager breaks away from Deutsche.

Dr. W. Van Harlow has been named director for Investment Retirement Solutions at Putnam Investments where he will focus on the development of asset allocation tools and planning methodologies used by financial advisors, consultants and plan sponsors in the retirement and institutional markets, the firm announced today.

Hedge fund firm Tiger Management LLC has tapped the expertise of a former Goldman Sachs executive to help run its operations.