Searches and Hires

AP7 scouting for global custodian

AP7, Stockholm, is searching for a global custodian, according to a notice on European procurement website Tenders Electronic Daily.

BNY Mellon is the 426 billion Swedish kronor ($46 billion) pension fund's current custodian. The new contract will last five years.

Submission should be sent by midnight May 13 Central European Time. Consultant Thomas Murray is assisting with the search.

AP7 and a Thomas Murray spokesman could not be reached to provide additional details, including the reason for the search and whether BNY Mellon has been invited to rebid.