Searches and Hires

Texas Employees to start search for global custodian in July

The $29.6 billion Texas Employees Retirement System, Austin, will search for a global custodian in July.

The fund is "issuing this solicitation to ensure it continues to receive the best value" on custodial services, spokeswoman Mary Jane Wardlow said in an email.

BNY Mellon Asset Servicing has been the fund's global custodian since Sept. 1, 2011; its current contract will expire on Aug. 31, 2020. The firm will be permitted to rebid.

The date for posting the RFP on ERS' website has not been set, Ms. Wardlow said.

Trustees of the fund will select a custodian at their March 2020 meeting; no meeting date has been scheduled so far.