Pension Protection Fund is searching for a global custodian to also handle cash management, compliance monitoring, performance and risk measurement, and other services, said Colin McAlpine, contracts manager at the U.K. pension insurer.
Incumbent State Street Corp. can rebid; the firm’s three-year contract, extended two years in 2008, will expire in mid-April, Mr. McAlpine said.
Responses are due Feb. 10 with a selection expected in early summer. Further information is available by contacting Mr. McAlpine at [email protected]
The PPF manages about £3.3 billion ($5.3 billion), but that is expected to grow to £10 billion within the next five years, Mr. McAlpine said.