U.S. Bank has been selected by Franklin (Tenn.) City Employees’ Pension Fund as custodian, Pensions & Investments reports. The lender replaces incumbent fund custodian SunTrust Bank.
SunTrust also placed its bid again for the position. The $52 million fund issued a request for proposal (RFP) for the same in June. U.S. Bank’s contract started on October 1.
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