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 scope of work includes safekeeping, trade settlement, income collection, corporate actions, and liquidity management. The selected provider must establish and maintain segregated custody accounts while offering dedicated relationship management and responsive client support. The agency necessitates detailed reporting on holdings, transactions, and market values in formats compatible with internal systems and audit standards. The project also encompasses active securities lending and trustee services to support the city's financial operations. Eligibility is restricted to onshore organizations based in the United States. The agency allows for the performance of all work to occur offsite. Bidders must submit proposals digitally via email or through the designated online portal. The contract term spans a period of two years. The agency is currently seeking proposals to determine the budget and cost structure for these services. All formal inquiries and questions regarding the requirements must be submitted by June 10, 2026.