UK London Borough of Haringey Pension Fund is tendering for a global custodian to cover its £400m assets, to be in place by year end.
The fund’s current service providers are J Rothchild Bank, Bank of New York and JP Morgan Chase.
According to the fund’s director of finance, Andrew Travers, the move stems from a need to consolidate existing services and does not result from performance concerns.
The contract is for five years in the first instance, and then subject to periodic review.
Deadline for applications is 27 August.
The move is being advised by Hymans Robertson.
By Madhu Kalia
The Brunel Pension Partnership has become the fourth local authority pool to receive the green light from the regulator.
Defined benefit (DB) schemes are to be offered a new consolidator as the former chief of the Pension Protection Fund (PPF) launches 'The Pension SuperFund'.
Martin Freeman has been hired as head of technology product and development at Smart Pension, to support the 'growing' technology product side of the business.
Tim Sharp says the government has missed some big opportunities to help workers in the DB white paper.