Illinois State Universities Retirement System, Champaign, rehired Northern Trust as global custodian, according to a news release on the $13.6 billion retirement system’s website.
The board also hired Deutsche Bank to provide securities lending services, replacing Credit Suisse.
Callan Associates, SURS’ investment consultant, assisted.
RFPs for both mandates were issued in October. They were issued as part of the retirement system’s normal business practice to conduct a search for custody and securities lending services every five years.
Daniel Allen, chief investment officer, did not return a telephone call by press time for additional information.