Los Angeles County Employees' Retirement Association, Pasadena, Calif., issued an RFP for global custody and commercial banking services, said David Kushner, chief investment officer of the $38.8 billion pension fund, in an e-mail.
Pension fund officials are launching the RFP as “part of a regular review of major service providers,” Mr. Kushner said. Incumbent BNY Mellon will be invited to rebid.
The RFP is on the pension fund's website. Responses are due at 5 p.m. PST Jan. 16. The board is expected to make a selection as early as April.