UK - The London Borough of Haringey Superannuation Fund is on the verge of hiring a global custodian.
The £440m local authority fund is expected to finalise the appointment by the end of the week.
Currently, Haringey uses the preferred custodians of its investment managers - Capital International, Merrill Lynch Investment Managers and Rothschild Asset Management.
Haringey joins a host of other local authority pension funds which have shifted from using a multi-provider arrangement to a master custodian. Last year the pension funds for the £580 Highland Council, the £750m Cambridgeshire County Council, and the £1bn East Sussex Council all reviewed their custodian arrangements, and are expecting appointments during 1H.
Dundee County Council became the latest pension fund to appoint a sole provider, dumping Bank of New York, Deutsche Bank and Schroder Investment Management in favour of Northern Trust.
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