FIXED INCOME ANALYSTS’ SOCIETY, INC.
Board of Directors Meeting Minutes
Tuesday, September 27th 2022
PRESENT: Monica Aggarwal, Jessica Broughton, Joyce Chang, Ralph DeCesare, Mark Howard, Gregg Lemos-Stein, Erin Lyons, Pawel Mosakowski, Henry Shilling, Robert Slowko, Mariarosa Verde, and Lauren Nauser
ABSENT: Diane Vazza
INVITED GUESTS: Andrew Auslander (not present), Alexis Bancroft, Brian Toth, and Valerie Yuen
Welcome Remarks made by Monica Aggarwal:
Focus of meeting for 2023 to build on strong momentum from last year, provide a clear forward calendar and outline strategies for marketing marquis events.
Joyce Chang and Jessica Broughton made introductory remarks as new board members.
Review of Minutes from 5/17/22:
Erin Lyons made a motion to accept the minutes; Mariarosa Verde seconded the motion. The minutes were approved as written.
Financial Report:
Lauren Nauser presented update on P&L
Currently showing a loss, but that is not atypical at this time of year; historically revenue is generated by Hall of Fame, events and sponsorships throughout the year
Currently $512K in assets; with $462K in Vanguard
Monica noted that Pawel will present a forward budget at the next meeting
Pawel Mosakowski made a motion to accept the financial report; Ralph DeCesare seconded, the motion. Report was approved.
New Member Report:
Lauren Nauser presented membership update.
Many new members, including speakers from events, corporate sustaining member firms and various other members generated through other avenues
Moody’s, S&P, KBRA all renewed at new $7,500K CSM fee, Fitch opted for $15,000 level. Bloomberg comes due in January, DBRS in February, and Credit Sights in March. They will get notification in advance, with cover letter outlining new CSM pricing and options
Gregg Lemos-Stein made a motion to accept; Erin Lyons seconded the motion. Approved.
Technology Project Update:
Monica Aggarwal reported that Bowen, originally chosen website designer bowed out of the contract.
The reason they gave was that the scope was more than they envisioned, and to take on the project they doubled the original quote.
Decision was made to go back to Aspire, which was 2nd They have agreed to take on the project at the original cost of approximately $30K. Will be developed in Word Press.
Lauren Nauser has confidence in them, as she works with them for another client
Erin Lyons, Mark Howard, and Monica Aggarwal will review final contract and hope to move forward by end of week
Project expected to take 3 to 4 months from date of contract agreement
The board voted to approve the project once the final review was completed
Committee Updates (Key Takeaways and 2022-2023 Objectives):
Programming (Ralph DeCesare)
What companies do we want to reach out to that may currently be underrepresented
Schedule meetings that will attract new people—invite speakers from those firms
More representation from Corporate Sustaining Member companies
Membership (Erin Lyons)
Need to rebuild the team-agree with Ralph re identifying key firms and where the holes exist
Work closely with Marketing committee
Marketing (Robert Slowko)
Priorities include:
Website redesign
Need to communicate who we are/what the brand stands for
Increase Social Media presence
Continue to promote big events
Work closely with Membership and Programming committees
Additional resources—new volunteer members + an intern
Monica reiterated need to work on a CSM engagement program. Gregg, Mariarosa, Pawel, Erin, Mark and Monica will work to re-engage those firms, especially those without BOD representation.
Forward Calendar Discussion:
Tentative Dates (Lauren will send out Doodle polls for dates that work):
Holiday Party – November 30, December 1, 6, 7
Women In Fixed Income – Week of Jan 12th – Hybrid (at Luminary) –potentially move to 1/31?
Hall of Fame – Harvard Club (Mark Howard)
Mark Howard to create steering committee early next month for slate of nominees. BOD to evaluate and ratify in December
ESG – Earth Day (April 20 & 21) – Hybrid-potential to move event to late March/Early April to allow enough space between ESG and HOF?
ESG Award winners’ presentation – In person @ Fordham 5/5/23
Annual Meeting – June 13, 14, 15, 20, 21, 22
“How to Make Your Buy Side Life Easier” Tech Conference – May 31, June 1, 6, 7 or 8 from 3 to 6pm (consider first two weeks of July) · Survey to be distributed with Questions
Competitive Analysis of FIASI Peer Organizations
Marketing committee presented key takeaways and recommendations for success base on analysis of peer organizations:
Consistent programming
In-person events
Prominent Social Media presence
Joint events with other organizations
Membership, event ticketing and sponsorship fees (Erin has additional detail)
Networking
Q&A
Lauren will share full presentation for BOD to review and follow up with any additional questions or ideas.
Having no further business items, the meeting was adjourned.