Searches and Hires

Tower Hamlets launches search for global custodian

Tower Hamlets Pension Fund, London, is searching for a global custodian.

The £1.4 billion ($1.8 billion) pension fund wants a single provider for the safekeeping of assets, trade settlement, tax reclaims, corporate actions instruction and collection, proxy voting, foreign exchange, cash management, investment accounting, online reporting performance measurement, compliance monitoring, passive currency hedging and other asset administration services.

The contract will run for three years, with a possible extension of two years said a notice filed with public procurement website ProContract.

The incumbent could not be learned by press time.

The RFP is available on the procurement website. Proposals are due Nov. 28.