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Provision of Global Custody Services

Falkirk Council

This public procurement record has 1 release in its history.

Award

12 May 2026 at 01:00

PCS Notice - Website Contract Award Notice
Summary of the contracting process

Falkirk Council, acting as the buying organisation, has completed the award stage for the contract titled "Provision of Global Custody Services." This procurement is categorised under general public services and is located in the UKM76 region. The award was finalised on 30th April 2026, with key dates outlining a contract starting immediately and running until 28th February 2031, with the option for extensions of up to three additional years. This procurement was executed following a limited method without prior publication, being part of a mini-competition managed collaboratively with Edinburgh City Council and Fife Council, further aligning with the National LGPS Framework Agreement NCCT42038 under the services industry.

This tender presents significant growth opportunities for businesses specialising in global custody services. Large-scale providers with the capacity to manage pensions and investment custody effectively would find it particularly rewarding. The contract's substantial value of £2.4 million and its long-term nature—potentially covering nearly a decade with extensions—offers a stable revenue stream. Companies like Northern Trust that have already secured the contract through competitive bidding demonstrated an edge in services meeting public sector requirements, signifying that similar scaled firms could find such tender opportunities lucrative in expanding or sustaining their financial management services portfolio.

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Notice Information

Notice Title

Provision of Global Custody Services

Notice Description

Falkirk Council is appointing a contractor to meet its needs as administering authority for the Falkirk Council Pension Fund in relation to the provision of global custody services.

Lot Information

Lot 1

Falkirk Council is appointing a contractor to meet its needs as administering authority for the Falkirk Council Pension Fund in relation to the provision of global custody services. Edinburgh City Council conducted a collaborative mini-competition CT1455, which included participation from Fife Council, and Falkirk Council. This award is being made in accordance with the outcome of that mini-competition and is fully compliant with the terms and conditions of the LGPS Framework Agreement NCCT42038 - Global Custody Services Framework.

Procurement Information

Edinburgh City Council conducted a collaborative mini-competition CT1455, which included participation from Fife Council, and Falkirk Council. This award is being made in accordance with the outcome of that mini-competition and is fully compliant with the terms and conditions of the National LGPS Framework Agreement NCCT42038 - Global Custody Services Framework.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-r6ebe6-0000831717
Publication Source
Public Contracts Scotland
Latest Notice
https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=MAY555673
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
PCS Notice - Website Contract Award Notice
Procurement Type
Standard
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

66162000 - Custody services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£2,400,000 £1M-£10M

Notice Dates

Publication Date
12 May 20264 months ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Falkirk 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
LARBERT
Postcode
FK5 4RU
Postcode Area
Falkirk and Stirling
Country
Scotland
Major Region (ITL 1)
TLM Scotland
Basic Region (ITL 2)
TLM1 East Central Scotland
Small Region (ITL 3)
TLM12 Falkirk
Delivery Location
TLM76 Falkirk
Local Authority
Falkirk
Electoral Ward
Bonnybridge and Larbert
Westminster Constituency
Alloa and Grangemouth

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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