Connecticut pension fund 'chooses' Deutsche Bank
19 March 2013 Hartford
Image: Shutterstock
Connecticut Retirement Plans & Trust Funds has mandated Deutsche Bank to provide it with securities lending services, according to reports.
The state’s billion-dollar pension system is conducting a master custodian search ahead of State Street’s mandate expiring at the end of June.
It selected Deutsche Bank for the securities lending aspect, but is holding off on the other components until it makes a decision on fee proposals from State Street and the asset servicing arm of BNY Mellon, which applied to provide a complete suite of custody services, according to reports.
This marks another notable mandate win for Deutsche Bank, which was selected to act as agent lender for the Tennessee Consolidated Retirement System in November 2012.
The state’s billion-dollar pension system is conducting a master custodian search ahead of State Street’s mandate expiring at the end of June.
It selected Deutsche Bank for the securities lending aspect, but is holding off on the other components until it makes a decision on fee proposals from State Street and the asset servicing arm of BNY Mellon, which applied to provide a complete suite of custody services, according to reports.
This marks another notable mandate win for Deutsche Bank, which was selected to act as agent lender for the Tennessee Consolidated Retirement System in November 2012.
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