Oklahoma Teachers’ Retirement System, Oklahoma City, is searching for a firm to provide custodial, securities lending and commission recapture services, said Tom Spencer, executive director, in an e-mail.
The search is being conducted because of the upcoming contract expiration of incumbent custodian J.P. Morgan Chase. J.P. Morgan’s current contract expires on June 30, 2015; it is invited to rebid.
Several firms currently provide commission recapture services for the pension fund. Mr. Spencer didn’t name the current list of firms. Custodian banks will not be disqualified if they do not provide commission recapture services.
The RFP is available on the $14.1 billion pension fund’s website.
The deadline for proposals is 5 p.m. CST on Dec. 18. A hiring decision is anticipated on Feb. 25.
Investment consultant gregory.w.group is assisting with the search.