City of Edinburgh Council is searching for a global custody and securities lending provider for two pension funds with combined assets of £3.2 billion ($5 billion), confirmed Esmond Hamilton, financial controller for pension fund operations.
Citibank currently performs both services for the £3 billion Lothian Pension Fund and the £200 million Lothian Buses Pension Fund. Its five-year contract with the council expires Dec. 31; the firm can rebid, Mr. Hamilton said.
Proposals are due Sept. 24. A selection is expected in November. Further information is available by contacting procurement officer Paul Bell at [email protected]