Decision details

(Exempt information as defined in Paragraph 3 of Part 1 of Schedule 12A to the Local Government Act, 1972.  It was considered that in all the circumstances of the case the public interest in maintaining the exemption outweighed the public interest in disclosing the information.)

The Committee considered a report on the outcome of a procurement exercise to appoint a new Global Custodian of the Pension Fund.

Resolved:

The Committee agreed:

  i.  That the existing custodian contract be terminated.

  ii.  That, subject to contract negotiations and to the receipt of appropriate references, Northern Trust be appointed as new global custodians of the Pension Fund.

  iii.  That stock lending with the custodian be reinstated.