Searches and Hires

Malden Retirement sets RFP for custodian

Malden (Mass.) Retirement System is searching for a firm to provide institutional custodial/master trust services for the $252 million pension plan, said James M. Ryan, retirement director, in an email.

As of May 31, the pension fund had an allocation of 66% to stocks, 32% to bonds and 2% to cash, according to an appraisal summary report on the town's website.

The RFP is available by emailing Mr. Ryan. Proposals are due by noon EDT on May 24. A selection is expected to be made within 60 days of the submission deadline.

State Street Bank & Trust is the current custodian based on the plan's most recent annual report. Mr. Ryan said the firm is welcome to rebid.