Philadelphia Gas Works Retirement Reserve is seeking custodial banking services, said Christopher DiFusco, chief investment officer for the Philadelphia Sinking Fund Commission and trustee of the $543 million pension fund.
The search is being conducted to comply with city ordinance requiring contracts be put out to bid at least once every four years. The current custodian is Wells Fargo Bank and it is invited to rebid.
The RFP is available on the city's procurement website. Registration is required.
Proposals are due by 5 p.m. EDT July 15. A contract is expected to be signed in October.
