Tennessee Department of the Treasury, Nashville, hired State Street Bank as custodian of the $40 billion Tennessee Consolidated Retirement System, said Blake Fontenay, spokesman for David H. Lillard Jr., state treasurer, in an e-mail.
The department issued an RFP in May because Northern Trust’s contract as custodian was expiring.
Northern Trust rebid for the services, Mr. Fontenay said. State Street’s contract began on July 1.
