Alabama Prepaid Affordable College Tuition Trust Fund, Montgomery, issued an RFP for a master custodian. Current custodian Compass Bank's three-year contract expires at the end of the year, although Compass is being invited to rebid. Anthony Lee, spokesman for the $625 million fund, said it issues RFPs when contracts expire. "This will be an open process," he said.
Candidates are required to have custodial clients with more than $500 million in assets. The RFP can be found at www.treasury.state.al.us; proposals are due Oct. 7, and a selection is expected by the end of the year.
