Investment Custody, Securities Lending, and Backup Trustee Services

Overview

Financial, Legal, HR & Staffing

Minneapolis, Minnesota, United StatesPosted 3 days agoDeadline: July 10th, 2026

Fit Score

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SUMMARY

A Minneapolis government authority is seeking a financial institution to provide investment custody, backup trustee, and ideally securities lending services. The work includes safekeeping, reporting, settlement, liquidity management, and account administration.

KEY REQUIREMENTS

BUDGET

Estimate

$175,000 – $1,000,000

CONTRACT DURATION

60 months

TIMELINE

RFP Release: May 4th, 2026

Questions on RFP Due by: June 10th, 2026

Responses to Questions posted by: June 18th, 2026

Proposals due by: July 10th, 2026

Estimated Vendor selection: Mid-September 2026

Estimated services start date: January 1st, 2027

Estimated services end date: December 31st, 2032

QUESTION DEADLINE

June 10th, 2026

Issuing Agency

City Of Minneapolis

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DESCRIPTION

A government authority in Minneapolis, Minnesota is seeking a qualified vendor to provide investment custody, securities lending, and backup trustee services. The selected firm will be responsible for comprehensive custody services for the safekeeping and administration of the city's investment securities and related financial instruments.

Scope of services includes dedicated client service and relationship management, custody account establishment and maintenance, and detailed reporting on holdings, transactions, income, and market values in formats compatible with the city's internal systems and audit requirements. The provider must also deliver secure safekeeping of investment securities, timely trade settlement and processing, collection and crediting of income, and handling of maturities, redemptions, and corporate actions.

The city also requires strong liquidity management capabilities, including daily processing of deposits, withdrawals, and related transfers to and from designated bank accounts with same-day settlement and accurate reconciliation. Ideally, the selected custodian will also offer a securities lending program. Questions must be submitted no later than June 10, 2026.

Source attribution

This Settle analysis is based on the issuing organization’s public RFP listing.