Kentucky Retirement seeks global custodian 06 September 2012Kentucky Reporter: Jenna Jones
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Kentucky Retirement Systems (KRS) is looking for a new global custodian to provide custody services for its $13.7 billion pension fund.
Previous custodian Northern Trust is invited to rebid.
KRS stated in a release that the firm hired will provide “global custodial services, record keeping, accounting services, performance measurement, analytics, support for an unbundled securities-lending programme and other services, according to the RFP.”
Earlier this year the company hired Deutsche Bank to manage its securities lending services.
Assisting in the search will be investment consultants R.V Kuhns. Applications are due 28 September; a decision will be made in November.
Earlier this year, the board of trustees at KRS approved a recommendation made by the KRS retiree health plan committee to provide Medicare Advantage plans to eligible retirees beginning 1 January 2013.
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