New York City Retirement Systems has issued an RFP for firms to conduct corporate governance research services, according to a posting on the website of Scott Stringer, the city's comptroller and fiduciary for the five pension funds within the $203.4 billion system.
The number of firms sought by the pension system was not identified in the RFP, although three firms — Institutional Shareholder Services, Glass, Lewis & Co. and MSCI ESG Research — are the incumbents.
Those firms have been invited to bid, said Tian Weinberg, a spokeswoman for Mr. Stringer.
The RFP is routine, she said. The previous RFP was issued six years ago, reflecting an initial contract of three years with one-year renewal options up to an additional three years.
The terms are the same for the current RFP, which is available on the state comptroller's website. (Detailed information requires registration.)
Proposals are due July 25. The contracts will take effect Oct. 1.
The RFP emphasized that the search "is not a solicitation for proxy voting platform services — only for research, advisory and database services."