Investment Custodian and Trustee Services

The City of Charlotte, North Carolina, through its Finance Department, is seeking Investment Custodian and Trustee Services for its $2.8 billion Consolidated Investment Pool and $6.4 billion debt program. The comprehensive procurement involves selecting one or more service providers to manage investment custody, safe-keeping, securities settlement, income collection, accounting, reporting, cash management, and trustee services. Minimum qualifications for respondents include having $500 million in tax-exempt trust/custody assets and ten years in business with good financial standing. The solicitation (RFP 269-2026-110) requires providers to offer daily investment sweep capability, online access, bond redemption calculations, and post-issuance compliance assistance. Key evaluation criteria include qualifications and experience, proposed solution and approach, cost effectiveness, and minority and women-owned small business enterprise (MWSBE) inclusion efforts. Critical dates include a non-mandatory pre-proposal conference on January 7, 2026, at 2:00 p.m. via Microsoft Teams, with written questions accepted by January 2, 2026, and January 9, 2026. Proposals are due January 16, 2026, at 10:00 a.m. through the City's Bonfire e-Procurement Portal, with evaluation occurring January 19-30, 2026, and potential interviews scheduled for February 16-20, 2026.

The City intends to negotiate MWSBE participation goals with the selected vendor(s) and requires submission of the CBI Form 3 identifying firms intended to meet diversity objectives. Respondents must complete various certification documents, including Byrd Anti-Lobbying Certification, Debarment Certification, and references demonstrating comparable service experience. While specific budget ranges are not explicitly stated, the procurement covers management of substantial investment and debt portfolios totaling approximately $9.2 billion. The contract has an initial three-year term with an option to renew for an additional two-year period, potentially extending the relationship to five years. Shortlisted companies must be prepared to provide comprehensive financial documentation within 24 hours of request, including audited financial statements, SEC filings, and evidence of required insurance coverage. The City reserves the right to award to multiple providers, negotiate terms, or reject any or all proposals, maintaining flexibility in the procurement process.