Newport News (Va.) Employees' Retirement Fund is searching for a custodian, said William E. Dahab, principal and director research at Dahab Associates, the $825 million pension fund's investment consultant.
The pension fund issued an RFP as a periodic due diligence measure, Mr. Dahab said. Current custodian State Street Corp. is invited to rebid.
Proposals are due at 5 p.m. EDT on July 22. A timetable for a decision has yet to be determined.
The RFP is available on Dahab's website.
Tonya O'Connell, assistant director of the city's finance department, could not be reached by press time.