Award

WSCC and IOWC TH - Global Custody Services - AWARD

WEST SUSSEX COUNTY COUNCIL

This public procurement record has 1 release in its history.

Award

15 Feb 2021 at 16:04

Award Notice
Summary of the contracting process

The procurement process for Global Custody Services has been concluded, with West Sussex County Council (WSCC) as the buying organisation. This tender, titled "WSCC and IOWC TH - Global Custody Services," falls within the services industry category, specifically under trust and custody services. The procurement was carried out via a selective method, utilising a restricted procedure. The award took place on 26th July 2019, with the contract lasting until 26th July 2021. The main contractor, Northern Trust, has been appointed to manage services for both WSCC and the Isle of Wight Council, indicating a significant collaboration between these local authorities.

This awarding of the contract represents a substantial opportunity for businesses in the financial services sector, particularly those specialised in custody services, pension fund management, and related consulting services. Companies with experience in managing large investment funds and those equipped to handle the complexities of trust services would be particularly well-suited to compete for similar tenders in the future. The contract value of £210,000 further illustrates the financial significance of such procurement processes, which can foster growth for businesses that respond to these opportunities effectively.

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Notice Information

Notice Title

WSCC and IOWC TH - Global Custody Services - AWARD

Notice Description

This procurement seeks to appoint a contractor to provide services on behalf of West Sussex County Council (WSCC) and the Isle of Wight Council (IOWC) for Global Custody Services. The total business for both Councils will be awarded to one sole provider, however; each Council will have its own unique contract with the successful provider.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-94d2c6f0-1846-44f9-baa7-87c62e4a4b24
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/e12ee12a-5743-4a2e-b7a1-f18336f518b7
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Restricted procedure
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66131100 - Pension investment services

66141000 - Pension fund management services

66160000 - Trust and custody services

66162000 - Custody services

66520000 - Pension services

66522000 - Group pension services

66523000 - Pension fund consultancy services

Notice Value(s)

Tender Value
£210,000 £100K-£500K
Lots Value
Not specified
Awards Value
£210,000 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
15 Feb 20215 years ago
Submission Deadline
8 Mar 2019Expired
Future Notice Date
Not specified
Award Date
25 Jul 20196 years ago
Contract Period
26 Jul 2019 - 26 Jul 2021 2-3 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
WEST SUSSEX COUNTY COUNCIL
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
WEST SUSSEX
Postcode
PO19 1RQ
Post Town
Portsmouth
Country
England
Major Region (ITL 1)
TLJ South East (England)
Basic Region (ITL 2)
TLJ2 Surrey, East and West Sussex
Small Region (ITL 3)
TLJ27 West Sussex (South West)
Delivery Location
TLJ South East (England)
Local Authority
Chichester
Electoral Ward
Chichester Central
Westminster Constituency
Chichester

Supplier Information

Number of Suppliers
1
Supplier Name

NORTHERN TRUST

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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