Santa Barbara County (Calif.) Employees' Retirement System will launch a search for a custodian in January, said Rebecca Valdez, investment officer.
The $4 billion pension fund is issuing an RFP because it has not done so since 2012, according to an Oct. 25 memo from investment staff to the board of trustees.
Current custodian Bank of New York Mellon will be invited to rebid, Valdez said.
The pension fund posts RFPs on its website. Proposals will likely be due in early February, with a selection likely occurring sometime in March.
Investment consultant RVK will assist with the search.