St. Petersburg, Fla., is searching for a custodian for its three pension funds, said Anne A. Fritz, the city's chief financial officer, in an email.
The city has issued an RFP for a firm to provide custodial bank services and investment reporting and safekeeping services for the $404 million St. Petersburg General Employees' Retirement System, $369 million St. Petersburg Police Officers' Pension Fund, and the $214 million St. Petersburg Fire Pension Fund.
The firm would provide the services for its operating funds portfolio and parks preservation portfolio.
The city has issued the RFP due to the pending expiration of the city's contract with Wells Fargo, Ms. Fritz said. The firm is invited to rebid.
The RFP is available on the city's procurement website. Proposals are due at 3 p.m. EDT on May 5. A recommendation for an award is tentatively scheduled for May 21, with city council approval scheduled for July 9.