Decision

The Executive Director of Finance and Corporate Services has decided to approve a contract award for Custodian Services to gatekeep LBHF's pension fund assets.

Analysis

outcome: The recommendations were approved.

summary: The decision at stake is the approval of a contract award for Custodian Services to gatekeep LBHF's pension fund assets.

topline: The Executive Director of Finance and Corporate Services has decided to approve a contract award for Custodian Services to gatekeep LBHF's pension fund assets.

reason_contentious: This issue may be contentious as it involves financial and business affairs, which can impact various stakeholders.

affected_stakeholders: ["Executive Director of Finance and Corporate Services", "Cabinet Member for Finance and Reform", "LBHF's pension fund assets"]

contentiousness_score: 6

political_party_relevance: There are no mentions or implications of political parties or political influence on the decision.

URL: https://democracy.lbhf.gov.uk/ieDecisionDetails.aspx?ID=4986

Decision Maker: Executive Director of Finance and Corporate Services

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Purpose: Contract award for supplier of asset servicing to LBHF pension fund though LGPS framework.

Content: That the Executive Director of Finance and Corporate Services approve the contract award for Custodian Services to gatekeep LBHF’s pension fund assets to Northern Trust Company (The) (FC006465) in consultation with the Cabinet Member for Finance and Reform.   To agree that this report and the background paper is not for publication on the basis that it contains information relating to the financial or business affairs of any particular person (including the authority holding that information) as set out in paragraph 3 of Schedule 12A of the Local Government Act 1972 (as amended).   The reasons for the decision can be found in the decision report. Please refer to the report.

Date of Decision: July 3, 2025