RFP: Global Custody and Commercial Banking Services
The Los Angeles County Employees Retirement Association ("LACERA") is requesting proposals from qualified firms interested in providing global custody and commercial banking services for the LACERA Pension Plan and OPEB Master Trust. The specific services requested are further described in the Request for Proposal document.
Scope of Work
The purpose of this RFP is to identify a firm to provide global custody and commercial banking services to LACERA’s Pension Plan and OPEB Master Trust. The firm must act as a fiduciary in this function. Core services include but are not limited to the safekeeping and custody of LACERA assets, serving as the book of record, providing plan accounting and reporting. In addition, the firm will provide commercial banking and treasury services.
A more extensive list related to the scope of work can be found in the Request for Proposal document.
If your firm chooses to respond to this RFP, please send the Intent to Respond, Exhibit A, to Jude Pérez via email, CustodyBankRFP@lacera.com by 5:00 p.m. PST, February 11, 2022. Failure to send your Intent to Respond may disqualify your firm from submitting a response to this RFP.
Bid submissions must be delivered in PDF or Microsoft Word format via email to CustodyBankRFP@lacera.com by March 25, 2022, no later than 5:00 PM PST. Any proposal delivered after the proposal deadline will not be considered.
The size of any emails should not exceed 32 megabytes. If necessary, attachments that have a large file size may be distributed across multiple emails. Faxed and mailed physical paper transmissions are not acceptable. Also, send one electronic copy marked “REDACTED”. The redacted copy should exclude all material from your proposal that you believe in good faith is exempt from disclosure under the California Public Records Act (Cal. Gov. Code Sections 6250 et seq.) (Described in Section VI of this RFP). Redactions should appear as blacked out material or blank page(s) with the word “REDACTED” or “PROPRIETARY” inserted, along with a citation to the Public Records Act section that exempts the material.
See the Notice Regarding the California Public Records Act and Brown Act in Section VII. of this RFP for information regarding redactions and disclosure.
Questions relating to this RFP
Respondents are encouraged to communicate any questions regarding this RFP by February 25, 2022. Questions should be sent via email to CustodyBankRFP@lacera.com. All questions received and responses thereto will be posted on LACERA’s website (www.lacera.com) under the "RFP Opportunities" section on or about March 11, 2022.
The following is a tentative schedule for this search. The evaluation and staff recommendation phases are subject to modification by LACERA.
- Issuance of RFP
- January 31, 2022
- Intent to Respond
- February 11, 2022
- Written Questions and Requests for Clarification Due
- February 25, 2022
- Responses to Questions Posted
- March 11, 2022
- Proposals Due
- March 25, 2022
- Candidate Interviews
- 2Q/3Q 2022
- Final Selection
- 3Q/4Q 2022
- Cutover to New Custodian
- July 1, 2023