The New Jersey Department of Treasury last week announced that Lamont Investment Advisors Corp. will serve as the state’s swap advisory consultant and derivative portfolio monitor.

Lamont Investment Advisors’ parent company is Lamont Financial Services Corp., and its swap adviser contract with New Jersey expired on Jan. 30.

The new contracts for the two positions last for one year and Garden State officials have the option to renew the contracts for two additional terms of one year each, according to the Department of Treasury.

As a swap monitor and adviser, Lamont Investment Advisors will review and value existing and future derivative agreements for the state and its independent authorities and advise and consult government officials on current and future swap transactions.

Of the pool of applicants, 18 firms submitted proposals for the swap adviser position and eight firms applied to the swap monitor post. New Jersey released a request for proposals in December.

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