Searches and Hires

Shrewsbury Contributory Retirement hunting for custodian

Shrewsbury (Mass.) Contributory Retirement System is searching for a custodian.

Only $22 million of the pension fund's $125 million assets will be held in custody with the selected firm. The search is being conducted because the pension fund is withdrawing some of its assets from the $71.8 billion Massachusetts Pension Reserve Investment Trust, Boston, so a custodian will be needed for the new investments, said Gregory Gatsogiannis, executive director of the pension fund.

Dahab Associates, the pension fund's investment consultant, is assisting with the search.

The RFP is available on Dahab's website. Proposals are due by noon EDT on March 20, after which the board will schedule a meeting to review any submissions and make a decision at that time, Mr. Gatsogiannis said.