New Mexico Educational Retirement Board, Santa Fe, is searching for a global custodian, confirmed Executive Director Jan Goodwin.
The $10.1 billion pension fund issued an RFP for a firm to provide custody banking services; the four-year contract, with an option for a two-year extension, would begin July 1, 2014. J.P. Morgan Chase, the current custodian, is invited to rebid, Ms. Goodwin wrote in an e-mail.
Investment consultant NEPC is assisting.
Proposals are due at 4 p.m. EDT on Oct. 31. Finalist interviews are scheduled for Nov. 18 to Nov. 26, with a decision expected on Dec. 13.
The RFP is available on NEPC's website.