Texas Employees Retirement System, Austin, launched a search for global custody services.
Bank of New York Mellon has served as the $28.3 billion pension fund's global custodian since Sept. 1, 2011. Its current contract expires Aug. 31, 2020, spokeswoman Mary Jane Wardlow said in an email. BNY Mellon's asset servicing unit can rebid, Ms. Wardlow said.
ERS officials launched the search to "ensure it receives the best value on custodial services," Ms. Wardlow said. The new, six-year global custody service contract will begin Sept. 1, 2020.
Basic information about ERS' global custody request for proposal is available on the Texas Electronic Business Daily Search System website Registration is required.
To receive the RFP, interested vendors must email a request to [email protected] with "Global Custody Services RFP" in the subject line. Proposals are due by 10 a.m. CDT on Aug. 2. Ms. Wardlow said the pension fund's board of trustees will choose a custodian at their March 2020 meeting.