For Immediate Release - July 13, 2012

TREASURY ANNOUNCES PRE-QUALIFICATION OF FIRMS

Expands Pool of Women and Minority Owned Underwriters

          Massachusetts State Treasurer Steven Grossman announced today the results of its recent Request for Qualifications of firms interested in providing investment banking services for future Commonwealth of Massachusetts bond sales.

          The Treasury expanded its pool of pre-qualified underwriters by 35% over the former pool. This includes 11 minority or women owned business enterprises (M/WBEs), nearly double the number of M/WBEs who had been pre-qualified before.

          “I have no doubt that the Commonwealth will be well served in the months and years ahead by this distinguished array of investment banking firms,” said Treasurer Grossman. “I am particularly pleased that we’ve been able to add a number of highly qualified women and minority owned firms, which will enable us to continue our commitment to diversity.”

          As part of the evaluation process, Treasury pre-qualified 35 firms to provide underwriting services when bonds are sold on a negotiated basis. Of this total, seven firms were selected as Senior Managers; five firms were selected as Co-Senior Managers; and 23 firms were selected as Co-Managers. An additional four firms were pre-qualified as Selling Group Members

List of Pre-Qualified Firms


Senior Managers:
Bank of America Merrill Lynch
Citibank Global Markets
Jefferies & Co.
JP Morgan
Morgan Stanley
RBC Capital Markets
Wells Fargo

Co-Senior Managers:
Barclays
M.R. Beal & Co.
Ramirez & Co.
Raymond James Morgan Keegan
Siebert Brandford Shank & Co.

Co-Managers:
Cabrera Capital Markets
CastleOak Securities
Corby Capital Markets
Deutsche Bank AG
Eastern Bank Capital Markets
Edward Jones
Estrada Hinojosa & Co.
Fidelity Capital Markets
Jackson Securities
Janney Montgomery Scott
Lebenthal & Co.
Loop Capital Markets
Mesirow Financial
Oppenheimer & Co.
Piper Jaffray
Prager & Co.
Rice Financial Products
Robert W. Baird & Co.
Roosevelt & Cross
Stifel Nicolaus
TD Securities
US Bankcorp
Williams Capital Group

The following firms have been pre-qualified as Selling Group Members:
Drexel Hamilton
Sandgrain Securities
Southwest Securities
Stern Brothers Co.

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