Searches and Hires

ATP issues call for global custodian

ATP, Hilleroed, Denmark is searching for a provider of global custody and other services, confirmed a spokesman.

The 779 billion Danish kroner ($118.8 billion) pension fund's current arrangement ends Oct. 7, 2019, said a notice on European procurement platform Mercell Holding. Northern Trust is the current provider, the spokesman said.

ATP wants a provider of global custody and securities and foreign exchange instruments; trade processing services; cash management; and additional custody services such as reclaiming of withholding taxes.

The notice said ATP also wants as options under the agreement collateral management services; the provision of a credit facility to ATP of the equivalent amount of 1 billion kroner; and a third-party margin account agreement among ATP, its custodian and one of ATP's counterparties.

The contract will last for four to six years. The deadline for RFPs is Jan. 15. A decision date was not provided.