The Oregon Public Employes' Retirement System, Salem, is nearing the end of a search for a new custody provider, and will follow that decision with the hiring of a third-party securities lender. Angela Davis, assistant director of investments, wouldn't name the finalists for the $24 billion fund, but said a first- and a second-choice bank have been picked. A decision is expected in mid-January.
Ms. Davis said the finalists do not include Oregon's three current custodians: the Bank of New York, which handles short-term and fixed-income assets; Wells Fargo, which handles U.S. equities; and Morgan Stanley, which handles non-U.S. equities.
Next, Oregon will choose a third-party securities lender from a number of candidates already interviewed, she said.