Hollywood (Fla.) Employees Retirement Fund will begin a search for a custodian within the next few months, said Lisa Castronovo, pension coordinator.
The $275 million pension fund’s seven-year contract with current custodian Wells Fargo was set to expire on Dec. 31, and city ordinance requires the services be put up for bid, Ms. Castronovo said.
Wells Fargo’s contract has been extended until March 31; the firm is invited to rebid. Ms. Castronovo said the city commission issues the RFP and is drafting the document.
When it is posted, the RFP will be on BidSync. Registration will be required.