Decision details
Tri Borough Pension Funds - Global Custody Services
PDF 30 KBDecision Maker: Cabinet Member for Finance and Reform
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
Mini competition to award supplier of asset
servicing to LBHF pension fund though LGPS framework
Decision:
That the Cabinet Member for Finance and Reform agree the recommended procurement strategy outlined in this report, the timetable for the procurement and give authorisation to proceed with using a compliant framework agreement to undertake a mini competition via the National LGPS Framework for Global Custody Services.
Reasons for the decision:
The contract has been extended several times since the initial appointment of Northern Trust so for compliance purposes the Council has decided to undertake a competitive process.
Alternative options considered:
The recommended route to the market is via the National LGPS Framework for Global Custody Services. This is a compliant route to market in line with the PCR 2015 where the authority is identifiable in the contract notice.
Publication date: 22/11/2024
Date of decision: 21/11/2024
Effective from: 28/11/2024
Accompanying Documents: