This summary is generated by AI from the council’s published record and supporting documents. Check the full council record and source link before relying on it.
Summary
Sharon Daniels, the Director, approved recommendations on 18/06/2026. The decision was to directly award a Master Custodian Agreement and an Enhanced Custodian Agreement to Northern Trust for three years, with a total maximum value of £140,000. Additionally, the Council and the London Borough of Harrow Pension Fund will enter into a Limited Power of Attorney in favour of Northern Trust Company.
Full council record
Purpose
The custodian provides safekeeping and records of Pension Fund Assets and their associated transactions and values. Appointing the same custodian as our key strategic partner LCIV has the multiple benefits and is essential to delivering the government's fit for the future goals.
Decision
- The direct award of contract for a Master Custodian Agreement and an Enhanced Custodian Agreement under waiver to Northern Trust to commence on 1st April 2026 for a period of 3 years. The total maximum value of the contract including any options to extend is £140,000 (Exc VAT).
2. To approve the Council and the London Borough of Harrow Pension Fund entering into a Limited Power of Attorney in Favour of Northern Trust Company.
Supporting Documents
Details
| Outcome | Recommendations Approved |