State-Boston Retirement System is searching for a custodian for its $4 billion pension fund.
NEPC, investment consultant to the plan, is assisting with the search. The selected custodian will also provide securities lending services.
Only custodial banks with more than $1 trillion in assets under trust/custody for institutional clients as of March 31 will be considered. Also, respondents must have at least five U.S. based institutional public fund clients with U.S. aggregate assets in excess of $20 billion as of March 31 and at least $50 billion in lendable assets within the securities lending program for each of the last five calendar years in order to be considered.
The current custodian and whether it can rebid could not be learned by press time.
The RFP is available on NEPC's website.
Proposals are due by 4 p.m. EDT on Sept. 30. A selection date was not disclosed.
Further information could not be learned by press time. John Kelly, the pension fund's investment analyst; Rosann Morello, NEPC manager search supervisor; and NEPC analyst Stephanie McMurray could not be immediately reached for comment.
