---
title: "Provision of Global Custody to the Pension Fund"
ocid: "ocds-b5fd17-9735725a-3948-44a2-893d-9cd7198bea4e"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-9735725a-3948-44a2-893d-9cd7198bea4e"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-9735725a-3948-44a2-893d-9cd7198bea4e.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-9735725a-3948-44a2-893d-9cd7198bea4e.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "SOUTH TYNESIDE COUNCIL"
published: "2024-10-31"
---

# Provision of Global Custody to the Pension Fund

Buyer: SOUTH TYNESIDE COUNCIL  
Current stage: Award  
OCID: ocds-b5fd17-9735725a-3948-44a2-893d-9cd7198bea4e

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## Summary

The procurement process initiated by South Tyneside Council focuses on the provision of global custody services for the Tyne and Wear Pension Fund investment portfolio. The contract falls under the industry category of investment banking services and related services (CPV: 66120000). Located in the North East of the United Kingdom, the procurement stage has reached the award phase, with the contract awarded on 21 June 2024 and published on 31 October 2024. The procurement method used was selective, calling off from the LGPS Frameworks Global Custody Services framework. The contract value is £1,229,780, spanning from 1 October 2024 to 30 September 2034.

This tender represents a significant opportunity for businesses involved in the provision of financial and investment services, particularly large firms with the capability to meet the comprehensive requirements of such a contract. The long-term nature of the contract (ten years) offers substantial business growth prospects and stability for the winning supplier. Companies with a strong track record in handling substantial pension fund portfolios would be well-suited to compete in such tenders. Furthermore, despite the procurement's selective nature, being included in relevant frameworks or having partnerships that can leverage these frameworks could provide a pathway to similar future opportunities.

## Notice

Provision of global custody services for Tyne and Wear Pension Fund investment portfolio. Additional information: The LGPS Frameworks Global Custody Services framework was used to call off this award.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/6c571ddb-80f4-4a99-969c-e5beba891764 |
| 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 |
| All stages | Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 31 Oct 2024 |
| Submission deadline | 3 May 2024 |
| Future notice date | Not specified |
| Award date | 20 Jun 2024 |
| Contract period | 30 Sep 2024 - 30 Sep 2034 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £1,229,780 |
| Lots value | Not specified |
| Awards value | £1,229,780 |
| 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 | SOUTH TYNESIDE COUNCIL |
| Locality | SOUTH SHIELDS |
| Post town | Newcastle upon Tyne |
| Postcode | NE33 2RL |
| Country | England |
| ITL 1 | TLC North East (England) |
| ITL 2 | TLC4 Northumberland, Durham and Tyne & Wear |
| ITL 3 | TLC43 Tyneside |
| Local authority | South Tyneside |
| Electoral ward | Beacon and Bents |
| Westminster constituency | South Shields |
| Delivery location | TLC North East (England) |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | THE NORTHERN TRUST |

## CPV Codes

### Divisions

- 66 - Financial and insurance services

### Codes

- 66120000 - Investment banking services and related services

## Release History

- 31 Oct 2024 at 11:52 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/6c571ddb-80f4-4a99-969c-e5beba891764

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/6c571ddb-80f4-4a99-969c-e5beba891764
  31st October 2024 - Awarded contract notice on Contracts Finder

## 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-b5fd17-9735725a-3948-44a2-893d-9cd7198bea4e. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-9735725a-3948-44a2-893d-9cd7198bea4e.json.