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Global Custody Services (Pensions)

London Borough of Hammersmith & Fulham

This public procurement record has 1 release in its history.

Award

04 Aug 2026 at 10:12

Award Notice
Summary of the contracting process

The London Borough of Hammersmith & Fulham procured global custody services for its pension arrangements. The requirement is a financial services contract covering the safekeeping and administration of pension assets, classified as custody services. Delivery is associated with the council’s Town Hall in King Street, London, W6 9JU, and the wider London area. The buying organisation is the London Borough of Hammersmith & Fulham. The selected service provider is Northern Trust Company (The), a large financial institution based in London’s Canary Wharf. This is a services procurement rather than a supply or construction opportunity, and it concerns institutional pension custody rather than general banking or routine local-authority administration.

The procurement has been awarded and is complete. The council used a selective procedure through a call-off from a framework agreement. The tender submission deadline was 6 January 2025 at 17:00 UTC, and the contract was awarded to Northern Trust Company (The) on 23 June 2025. The awarded value is £433,020. The contract runs from 23 June 2025 to 22 June 2035. The published procurement value is also £433,020. The requirement was not identified as suitable for small or medium-sized enterprises or voluntary, community and social enterprises. One supplier was selected for the global custody services requirement. The procurement is therefore an established framework call-off with a long-term institutional services contract rather than an open standalone tender.

This award demonstrates demand from a London local authority for specialist pension custody delivered at institutional scale through a framework route. Suppliers well placed for a future requirement of this type would need established global custody operations, the ability to safeguard and administer pension assets, and systems capable of supporting a public-sector pension client over a sustained relationship. Credibility would also depend on financial strength, operational resilience, accurate reporting, effective controls and experience serving institutional investors or pension funds. The selected provider’s large-company scale indicates that the buyer valued capacity and a mature service platform, rather than a small specialist adviser or a general financial services provider. Framework access and proven public-sector or institutional delivery experience would be important commercial advantages.

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Notice Information

Notice Title

Global Custody Services (Pensions)

Notice Description

Contract Award Notice - Global Custody Services (Pensions)

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-942a535d-b35b-4885-a645-d3efeef69c6a
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/e1ab7b28-b735-44a8-af7f-06b9fba6a300
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Call-off from a framework agreement
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66162000 - Custody services

Notice Value(s)

Tender Value
£433,020 £100K-£500K
Lots Value
Not specified
Awards Value
£433,020 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
4 Aug 20262 months ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
23 Jun 20251 years ago
Contract Period
23 Jun 2025 - 22 Jun 2035 Over 5 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
London Borough of Hammersmith & Fulham
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
W6 9JU
Postcode Area
West London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI33 Kensington & Chelsea and Hammersmith & Fulham
Delivery Location
TLI London
Local Authority
Hammersmith and Fulham
Electoral Ward
Hammersmith Broadway
Westminster Constituency
Hammersmith and Chiswick

Supplier Information

Number of Suppliers
1
Supplier Name

The Northern Trust Company

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts.

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