Florida Insurance Guaranty Association’s Finance and Audit Committee Selects Trustee, Investment Banking Service Providers
Jul 11, 2012
The Florida Insurance Guaranty Association’s (“FIGA”) Finance and Audit Committee (“Committee”) met today, July 11, 2012. The purpose of the meeting was to select a Trustee, as well as an Investment Banking Service provider for both FIGA and the Florida Insurance Assistance Interlocal Agency, the latter which was created to act as the conduit bond issuer authorized by Section 631.695, F.S.
FIGA received six responses to its corresponding Request for Proposal. Of those six responses, FIGA’s review team scored Wells Fargo the highest. It was moved and seconded that FIGA’s Executive Director be authorized to negotiate with Wells Fargo, subject to approval of the FIGA Board.
FIGA received 12 responses to its Request for Proposal for Investment Banking Services. FIGA’s review team recommended that all 12 firms be selected as Senior Managers or Co-Managers. The Senior Manager firms are: Bank of America Merrill Lynch, Citi Global Markets, Goldman Sachs & Co. and J.P. Morgan Securities. The Co-Managers are: Jefferies & Company, Loop Capital Markets, Morgan Stanly, Ramirez & Co., RBC Capital Markets, Stiftel Nicolaus & Company, SunTrust Robinson Humphreys and Wells Fargo Securities.
The Committee adopted the review team’s recommendations.
With no further business before the Committee, the meeting was adjourned.
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