Custody, Securities Lending, and Trustee Services

The City of Minneapolis requires a vendor to provide comprehensive custody, securities lending, and trustee services for its main investment pool. The agency currently administers approximately $1 billion in fixed income investments and expects this asset volume to remain stable over the next several years. The selected provider must maintain dedicated relationship management and responsive client service support to resolve issues and participate in periodic reviews. The scope of work includes the establishment and maintenance of segregated custody accounts as directed by the City. The agency requires safekeeping, trade settlement, income collection, and the management of corporate actions and liquidity. The provider must also deliver detailed, timely reporting on holdings and market values in formats compatible with internal systems and audit requirements. Eligibility is limited to onshore United States organizations. The agency expects the performance of all work to occur offsite. The resulting contract will cover a performance period of two years. The City is currently seeking budget proposals for these services rather than providing a fixed funding amount. Bidders must submit all questions regarding the solicitation no later than June 10, 2026. The agency accepts digital responses submitted via email or through its online portal.