UK - The £1.37bn Derbyshire County Council Pension Fund has gone out to tender for a custodian to look after its European (ex-UK) and North American equity and bond assets.
This follows the decision of two of its current custodians, UBS and the Bank of England, to withdraw from the custody market.
ABN Amro Mellon looks after the fund’s US equities allocation but Derbyshire has decided to replace all of its external custodians with one firm.
And it is asking prospective custodians for indicative quotes on running all its custody needs.
The deadline for expressions of interest is December 23 with a time limit for receipt of tenders or requests to participate being January 6.
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