---
title: "Custody and Investment Operations Outsourcing Services"
ocid: "ocds-b5fd17-6717a93b-3f18-4729-ad09-a2565d0c2f6e"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-6717a93b-3f18-4729-ad09-a2565d0c2f6e"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-6717a93b-3f18-4729-ad09-a2565d0c2f6e.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-6717a93b-3f18-4729-ad09-a2565d0c2f6e.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "PENSION PROTECTION FUND"
published: "2021-12-15"
---

# Custody and Investment Operations Outsourcing Services

Buyer: PENSION PROTECTION FUND  
Current stage: Award  
OCID: ocds-b5fd17-6717a93b-3f18-4729-ad09-a2565d0c2f6e

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## Summary

The Pension Protection Fund has completed the procurement process for Custody and Investment Operations Outsourcing Services, with the contract awarded on 14 December 2021. This selective tender, classified under custody services (CPV 66162000), had an estimated value of £53 million, with a minimum contract value of £9 million. The contract period is set to last from 1 September 2022 to 31 August 2032, covering servicing in the United Kingdom, specifically in London. The procurement method employed was a competitive procedure with negotiation, and the tender period concluded on 18 November 2021.

This tender presents a significant business opportunity, particularly for large-scale financial service providers specialising in custody and investment operations. Companies capable of offering comprehensive fund accounting and transfer agency services are well-suited to compete for this contract. As the Pension Protection Fund may require a secondary custodian for asset management, firms that can demonstrate experience in handling a variety of custodial tasks will likely find a competitive advantage in this procurement process.

## Notice

Custody and Investment Operations Outsourcing (IOO) Services. Custodian Services also include Fund accounting and transfer agency services (unitisation). We may also appoint a second/reserve Custodian to manage some of the PPF's assets, the exact amount is to be confirmed. Total contract length stated is based on the maximum possible contract term of 10 years. The initial contract term for Custody is 5 years and IOO 3 years. The minimum contract value and maximum contract values are based on the initial contract term and maximum contract term to be spread across the primary and reserve/secondary custodian, exact split is unknown at this stage.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/0553710e-eef9-47af-8eb6-976e693ff1df |
| Notice type | Award Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Selective |
| Procurement method details | Competitive procedure with negotiation (above threshold) |
| Tender suitability | Not specified |
| Awardee scale | Large |
| All stages | Tender, Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 15 Dec 2021 |
| Submission deadline | 18 Nov 2021 |
| Future notice date | Not specified |
| Award date | 14 Dec 2021 |
| Contract period | 31 Aug 2022 - 31 Aug 2032 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £53,000,000 |
| Lots value | Not specified |
| Awards value | £53,000,000 |
| Contracts value | Not specified |

## Status

| Field | Value |
| --- | --- |
| Tender status | Complete |
| Lots status | Not specified |
| Awards status | Active |
| Contracts status | Not specified |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | PENSION PROTECTION FUND |
| Locality | CROYDON |
| Post town | Croydon |
| Postcode | CR0 2NA |
| Country | England |
| ITL 1 | TLI London |
| ITL 2 | TLI6 Outer London - South |
| ITL 3 | TLI62 Croydon |
| Local authority | Croydon |
| Electoral ward | Fairfield |
| Westminster constituency | Croydon West |
| Delivery location | TLI London |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 2 |
| Supplier names | JPMORGAN CHASE BANK; THE NORTHERN TRUST |

## CPV Codes

### Divisions

- 66 - Financial and insurance services

### Codes

- 66162000 - Custody services

## Release History

- 15 Dec 2021 at 09:47 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/0553710e-eef9-47af-8eb6-976e693ff1df
- 12 Jul 2021 at 16:35 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/5c4ec007-86c3-4799-b2fe-569d5bf8d352

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/0553710e-eef9-47af-8eb6-976e693ff1df
  15th December 2021 - Awarded contract notice on Contracts Finder
- https://www.contractsfinder.service.gov.uk/Notice/5c4ec007-86c3-4799-b2fe-569d5bf8d352
  12th July 2021 - Opportunity notice on Contracts Finder

## Notice URLs

- https://ppf.bravosolution.co.uk

## Provenance

This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-b5fd17-6717a93b-3f18-4729-ad09-a2565d0c2f6e. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-6717a93b-3f18-4729-ad09-a2565d0c2f6e.json.