Wayne County Employees' Retirement System, Detroit, rehired Northern Trust as custodian, said Robert J. Grden, executive director, in an email.
The $1.2 billion pension fund issued an RFP in May as a result of its periodic review of service providers, Mr. Grden said. Comerica Bank and U.S. Bank were the other finalists, 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.
