Milwaukee County Treasurer Request for Proposals for Offsite Custodial Bank Services

The Milwaukee County Treasurer is soliciting proposals from qualified onshore trust companies and commercial banks to provide offsite custodial and safekeeping services for the county's financial assets, excluding pension fund assets held by third parties. Required services include accurate trade processing, daily cash balance sweeps, income collection, asset servicing across multiple asset classes, online transaction access, and maintenance of separate sub-accounts for cash and securities for each investment adviser. Applicants must submit a technical proposal and ten required PDF attachments electronically through the county's online portal by December 4, 2026, at 5:00 PM Central Time. All questions regarding the RFP must be submitted in writing by November 13, 2026, at 5:00 PM Central Time. An Evaluation Committee will score proposals based on Experience and Personnel (40%), Technical Capabilities and Operational Standards (30%), Cost Proposal (20%), and up to 10% bonus points for Targeted Business Enterprise participation. The buyer intends to award a three-year professional services agreement covering August 1, 2027, through July 31, 2030, with options for two additional one-year renewals.