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Multi Provider Framework Agreement for the Provision of Global Custody Services Primarily in Support of the Local Government Pension Scheme

NORFOLK COUNTY COUNCIL

This public procurement record has 2 releases in its history.

AwardUpdate

31 Mar 2026 at 13:23

Award Notice
Award

14 Oct 2021 at 08:38

Award Notice
Summary of the contracting process

Norfolk County Council is actively engaged in a procurement process under the multi-provider framework agreement for the provision of Global Custody Services, primarily supporting the Local Government Pension Scheme. The procurement falls under the services category, specifically focusing on trust and custody services, classified under the CPV code 66160000. The procurement is at the awardUpdate and contractUpdate stage, reflecting ongoing development and modifications. An amendment has extended the framework expiry date to 8 February 2026. Located in the UK, this procurement presents significant financial ramifications, with a contract value of GBP 520,000,000, signed on 4 March 2021. Key suppliers such as HSBC Bank plc, Bank of New York Mellon, and others collaborate to deliver these services.

This procurement process opens doors for large businesses specialising in financial services and custody solutions, allowing them to secure contracts with substantial fiscal implications and longitudinous service periods. Given its competitive nature, businesses with robust technical capabilities, reliable client service teams, and advanced reporting abilities are well-positioned to excel. While this tender utilises limited procurement methods, it provides wide-ranging opportunities in the finance industry, positioning capable organisations to engage closely with public sector financial frameworks and enhance their service portfolios. Companies that have previously established systems and expertise in electronic bidding and transitioning/onboarding are likely to thrive in such competitive environments.

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Notice Information

Notice Title

Multi Provider Framework Agreement for the Provision of Global Custody Services Primarily in Support of the Local Government Pension Scheme

Notice Description

Norfolk County Council undertook a Further Competition under the National LGPS Multi-Provider Framework Agreement NCCT42038 for the provision of Global Custody Services.

Lot Information

Lot 1

Multi Provider Framework Agreement for the provision of Global Custody Services primarily in support of the Local Government Pension Scheme

Procurement Information

This was a further competition under the National LGPS Multi-Provider Framework Agreement for the Provision of Global Custody Services NCCT42038

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-02eb9e
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/029647-2026
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Limited
Procurement Method Details
Award procedure without prior publication of a call for competition
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66160000 - Trust and custody services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£520,500,000 £100M-£1B

Notice Dates

Publication Date
31 Mar 20264 months ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
4 Mar 20215 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Cancelled
Awards Status
Active
Contracts Status
Active

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
NORFOLK COUNTY COUNCIL
Additional Buyers

Norfolk County Council (As Administering Authority for Norfolk Pension Fund)

Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
NORWICH
Postcode
NR1 2DH
Postcode Area
Norwich
Country
England
Major Region (ITL 1)
TLH East (England)
Basic Region (ITL 2)
TLH5 Norfolk
Small Region (ITL 3)
TLH51 Norwich and East Norfolk
Delivery Location
Not specified
Local Authority
Norwich
Electoral Ward
Lakenham
Westminster Constituency
Norwich South

Supplier Information

Number of Suppliers
9
Supplier Names

Bank of New York Mellon

CACEIS Bank

CACEIS Bank-UK Branch

HSBC Bank plc

State Street Bank and Trust

State Street and Trust

The Bank of New York Mellon

The Northern Trust Company

The Northern Trust Compnay

Further Information

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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