Awarded contract

Provision of Global Custody to the Pension Fund

Details

Supplier(s)
Northern Trust
Value
£1,229,780
Duration
10 years
Topic
Investment banking services and related services
Published
31 October 2024

Tender description

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.

Timeline

  1. Completed: Award date1 October 2024
  2. Completed: Award published31 October 2024
    Current notice
  3. Next: Contract expiry date30 September 2034in 8 years

About the buyer

South Tyneside Metropolitan Borough Council buys as a local authority through its own Corporate Procurement Service. Tender opportunities are advertised on the NEPO portal, used by all 12 North East councils and public sector bodies. Larger contracts also appear on the government's Contracts Finder and Find a Tender sites. Suppliers register on the NEPO Open Portal to see live opportunities and express interest. Smaller works and services are sourced through quick quotes or short tender lists on the NEPO e-tendering system. The council runs supplier workshops with NEPO to help local businesses bid for public contracts.

UK local government drives £140bn in annual procurement, led by social protection (£66.6bn) and education (£57.1bn).

Over the past 5 years, most of South Tyneside Metropolitan Borough Council's contract awards have been in software and information systems, construction work and health and social work.

Relevant CPV codes

  • 66120000 · Investment banking services and related services

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Decision makers

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