The framework, now out for comment, calls for extending GIPS to outsourced investment managers, with rules for things like fee disclosures and benchmarking.
At 23 billion pounds, the OCIO mandate is the largest in UK history, according to the asset manager.
For the top 8, including Mercer and BlackRock, last year marked an unaccustomed reversal of fortune, a study by Charles Skorina found.
The investment firm also promoted David Brief to head of its OCIO practice.
Kruse had worked at Willis Towers Watson for more than 15 years before joining Mercer in 2021.
A CIO panel explored different ways for allocators to assess their outsourced investment chiefs.
Alaine Zachary, investment chief of the Tennessee hospital system since 2015, sees Morgan Stanley’s OCIO group take over her job.