East Bay Municipal Utility District Employees' Retirement System, Oakland, Calif., received eight proposals in its search for a master custodian, said Lloyd J. Sawchuk, treasury manager. Bankers Trust, Bank of New York, Mellon Trust, Norwest, Northern Trust, State Street Bank, Union Bank of California and Wells Fargo were the bidders. Wells is the incumbent, acquiring the account when it merged with First Interstate.
The $350 million system hopes to make a decision by the end of January and to have the new contract start in July.
