Denver Employees Retirement Plan is reviewing incumbent J.P. Morgan Chase as well as Northern Trust, State Street and BNY Mellon in a shortlist search for a custodian, confirmed Steven Hutt, executive director of the $1.9 billion plan.
A decision is expected by the end of June.
Separately, the fund is a planning shortlist search for an active domestic large-cap value equity manager to run $160 million.
Independence Investments ran the money in the same strategy until spring of 2009, when the plan terminated the firm “over organization stability,” Mr. Hutt said. The $160 million has been parked in a Russell 1000 Value index fund managed by Northern Trust, Mr. Hutt said.
Mr. Hutt said that search should be completed by the end of July.
Summit Strategies, the plan’s general consultant, is assisting with both searches.