HSBC was one of the first custodians to win contracts under the LGPS Framework for Global Custody Services in 2014.
Tag: Pension fund
Northern Trust has become the custodian-of-choice for UK local government pension funds, having won eight other LGPS mandates.
The London CIV is looking for a global custodian and depositary that can assist them investing in alternatives.
The mandate will also include accounting and reporting, compliance monitoring, benefit disbursements, and cash sweep services.
The European Commission has told regulators pension funds should be exempt from collateral rules.