Board of Directors Meeting Minutes
January 8, 2018
Present: Ralph DeCesare, Eileen Fahey, Mark Howard, Sarah Kline, Henry Shilling, Robert Slowko, Brian Toth, Diane Vazza, Mariarosa Verde, Melody Vogelmann, Larry White, and Lauren Nauser.
Absent (Excused): Mark Hochberg
MINUTES:
Diane Vazza made a motion to accept the November 11, 2017 minutes. Mariarosa Verde seconded.
FINANCES:
Mariarosa Verde presented the financials. In the last quarter we had a loss of $27,800 which was greater loss than we had in the prior year’s quarter. This is because we ran more events than we did the year before. The membership dues & attendee rate at the events is higher but the money made on each event is lower.
We have approximately $107k in the Vanguard funds which has a duration of 2.6 years and currently yielding 2.4%. The rest of the funds are in a Citibank savings account which is earning approximately 0.25% which is quite low. Mariarosa made a recommendation that we move $150,000 into the Vanguard fund which would result in approximately $3,600 of income per year. This would leave us enough money to fund our deficits for liquidity. There is a bit of volatility and maybe we should put these funds into a money market fund. It was discussed moving a portion into a higher yielding funds. All were in favor of that recommendation.
Mark Howard moved that we accept the treasurer’s report as submitted; Diane Vazza seconded the motion. All were in favor of this proposal.
NEW MEMBERS:
Brian Toth proposed 15 new members as follows:
First Last Type Current Employer
Dan Champeau Regular Fitch Ratings
Cherian George Regular Fitch Ratings
Tom Rousakis Regular Ernst & Young
Andrew Ancone Regular Macquarie Capital
Scott Robinson Regular Moody’s Corporation
Rene White Student NJIT
Mark Fisher Regular Reorg Research
Sarah Gefter Regular Reorg Research
Jason Sanjana Regular Reorg Research
Jane Cotroneo Associate
Richard Sylla Regular NYU Stern School of Business
Brian Trymbiski Regular Wells Fargo
Brian Colalucci Regular HSBC Global Asset Mgmt
Ann Moitra Regular Vista Wealth Management
Oded Manor Regular PSAGOT Investment House
As of 1/4/18 As of 11/12/17 As of 9/15/17 As of 6/8/17
Regular Members 191 185 180 184
Academic Members 3 4 4 4
Associate Members 38 36 33 37
Student Members 25 25 24 24
Lifetime Members 40 40 39 39
Complimentary Members 8 8 8 8
Corporate Sustaining Members 43 42 43 40
Total Members 348 340 331 336
There was a discussion of what we should do once a member becomes “Grace” membership level. Many members of the board would like to see Lauren and team call the members to encourage them to renew their membership. Ask for feedback and recruit them to help out on that. Mariarosa mentioned that it would be nice to have a script to the team to use. Brian Toth will work on the script.
Brian Toth moved that we accept the new members; Larry White seconded the motion. All were in favor.
NEW ITEMS:
Upcoming Events Considerations:
Mark Howard spoke with Ken Leech’s co-CIO from Western Asset about Ken speaking with FIASI. It will have to wait until he gets to NY.
Another Idea Mark Howard had was a follow up to our machine learning event 3 years ago. This time focusing on the data side of the equation instead of the computing side of things.
Ralph DeCesare asked how the board felt about Blackrock presenting their “Aladdin” system. There was some concern that the Rating agencies may not appreciate having Blackrock’s system discussed when they all have other systems to publicize. It was agreed that we could have multiple events to show off each system. This may be a good event to host at Blackrock.
It was agreed that we would do another Bloomberg event.
HALL OF FAME 2018
Larry White presented the HOF members selected to serve on the HOF Advisory Committee.
Laurie Goodman – HOF class of 2009
Curtis Arledge – HOF Class of 2014
Marty Fridson – HOF class of 2000
Robert Slowko, Ralph DeCesare & Larry White
Is the candidate worthy and what has the candidate given back to the Fixed Income Business.
It was discussed adding a “Raising Star” and agreed that we would wait until another year as it is too tough to get it together before the April date.
Some conversation took place discussing if the HoF should have 2 or 3 inductees.
See the attached exhibit 1 for the list of people nominated and their votes in total numbers from the Advisory Committee.
Having no further business the meeting was adjourned.