Milwaukee County Employees' Retirement System hired Northern Trust as custodian and securities lending provider, recently released board meeting minutes said.
The $1.8 billion pension fund issued an RFP in October. The current custodian is Bank of New York Mellon (BK). Finalist information and whether Bank of New York Mellon rebid for the services could not be immediately learned.
Amy Pechacek, interim director of retirement plan services, and William Holton, member of the investment committee and fiscal director, could not be immediately reached to provide further information.