Florida pension fund manager considers partners
22 October 2014 Tallahassee
Image: Shutterstock
Multiple banks are competing to provide the State Board of Administration of Florida with prime and collateral management services, it has been revealed.
The State Board of Administration of Florida, which manages the state’s public employees’ retirement savings, has received pitches from CitiGroup, Deutsche Bank, Newedge, Bank of America Merrill Lynch and Pershing for prime services.
State Street, BNY Mellon and CitiGroup have submitted pitches to provide collateral management services following the State Board of Administration of Florida’s request for proposals.
A spokesperson said that a decision on the providers is expected by the end of this week.
The State Board of Administration of Florida, which manages the state’s public employees’ retirement savings, has received pitches from CitiGroup, Deutsche Bank, Newedge, Bank of America Merrill Lynch and Pershing for prime services.
State Street, BNY Mellon and CitiGroup have submitted pitches to provide collateral management services following the State Board of Administration of Florida’s request for proposals.
A spokesperson said that a decision on the providers is expected by the end of this week.
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