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Fees in play as more administrators see consolidation
trueConsolidation among alternative fund administrators is expected to continue over the next several years, which sources say will mean higher costs for asset owners in the short term. But some say in the long run, costs could decrease.
France's FRR hires 2 for ESG, adds 3 to transition manager roster
trueFonds de Reserve pour les Retraites hired BNP Paribas Asset Management and Kleinwort Benson Investors to manage €150 million ($203 million) each in environmental, social and governance investments.
Plano Retirement Security Plan searching for global custodian
truePlano (Texas) Retirement Security Plan is searching for a global custodian, according to an RFP posted on procurement website BidSync.
Susquehanna Township seeks custodian, investment consultant
trueSusquehanna (Pa.) Township is seeking a master custodian and investment consultant for its two defined benefit pension plans.
Suits cause FX trading costs to plummet
truePension funds' costs for foreign-exchange trades by custodial banks have been slashed 50% or more, a direct result of legal action taken in recent years against the banks on charges they inflated prices.
U.S. Bancorp Fund Services acquires hedge fund administrator
trueU.S. Bancorp Fund Services on Wednesday announced it acquired Ireland-based hedge fund administrator Quintillion Ltd.
Washtenaw County issues call for 457 providers
trueWashtenaw County, Ann Arbor, Mich., is searching for bundled providers for its $22.8 million 457 deferred compensation plan, according to RFP documents.
Missouri's Springfield police and fire pension fund seeks global custodian
trueSpringfield (Mo.) Police Officers' & Firefighters' Retirement System is searching for a global custodian.
Iowa funds issue call for global custodian, securities lending
trueThe Iowa state treasurer issued a joint RFP for global custody and securities lending services for the $25.1 billion Iowa Public Employees' Retirement System, as well as two other state retirement systems and 12 other state investment funds, all based in Des Moines.
Securities lending put on front burner again
trueLarge pension funds have come back to securities lending with lessons learned from the 2008-"09 financial crisis and a greater focus on risk than ever before.
Southeast Michigan Council looking for record keeper, custodian
trueSoutheast Michigan Council of Governments, Detroit, is searching for record-keeping and custody services for the local government association's $4.8 million 457 plan and $2.1 million profit-sharing plan.
State Street picks new securities lending head
trueLou Maiuri was named executive vice president and head of securities finance at State Street Corp.
U.K. pension funds pick 6 custodians for preapproved list
trueSix global custodians were selected for a preapproved list for several defined benefit pension plans in the £180 ($289.4 billion) Local Government Pension Scheme system.
Illinois SURS picks actuarial consultant finalists, announces 12.5% return
trueIllinois State Universities Retirement System named Gabriel Roeder Smith, Milliman and Segal Consulting as semifinalists in its search for an actuarial consultant.
BNY Mellon settles Florida forex suit for $28 million
trueFlorida State Board of Administration will be paid $28 million by Bank of New York Mellon, global master custodian for a state pension fund, to settle a lawsuit that claimed BNY Mellon overcharged for foreign-exchange transactions.