Wayne County Employees' Retirement System, Detroit, is searching for a custodian.
The $1.2 billion pension fund is seeking a bank to provide custodial services, including safekeeping services, settling securities transactions and cash management, said Robert J. Grden, executive director, in an email. Current custodian Northern Trust is invited to rebid, he said.
As of Dec. 31, the pension fund's actual allocation was 64.3% global equity, 14.3% fixed income, 10.7% real estate, 9.5% alternatives and 1.2% cash.
The RFP is available on BidNetDirect. Registration is required. Proposals are due at 4 p.m. EDT on July 15. A timeline for a selection was not provided.
