Custody and Investment Operations Outsourcing Services

A Contract Award Notice
by PENSION PROTECTION FUND

Source: Contracts Finder
Type: Framework (Services)
Duration: 10 year
Value: £9M-£53M

Sector: BUSINESS
Published: 15 Dec 2021
Delivery: 01 Sep 2022 to 31 Aug 2032
Deadline: 18 Nov 2021 12:00

Concepts

Location

Geochart for 1 buyers and 2 suppliers

1 buyer

Pension Protection Fund Croydon

2 suppliers

Northern Trust Canary Wharf London
Jpmorgan Chase Bank London

Description

Custody and Investment Operations Outsourcing (IOO) Services. Custodian Services also include Fund accounting and transfer agency services (unitisation). We may also appoint a second/reserve Custodian to manage some of the PPF's assets, the exact amount is to be confirmed. Total contract length stated is based on the maximum possible contract term of 10 years. The initial contract term for Custody is 5 years and IOO 3 years. The minimum contract value and maximum contract values are based on the initial contract term and maximum contract term to be spread across the primary and reserve/secondary custodian, exact split is unknown at this stage.

Award Detail

1	Northern Trust (Canary Wharf London) Value: £53,000,000
2	Jpmorgan Chase Bank (London) Value: £53,000,000