The new board of directors at the Municipal Analysts Group of New York will be hosting the first party and luncheon for their new series this month, giving regional muni players some chances to network.
The group’s chairman for the 2011-12 season is Dan Berger, senior strategist at Municipal Market Data. He has been with the group for five years and named this year’s theme, “Restoring Trust.”
“We’re trying to show people the value that’s inherent in the municipal bond market,” Berger said. “Despite some claims to the contrary, there’s a lot of strength in the muni market in terms of the issuers’ ability to pay principal and interest on debt service.”
Last year’s theme, under former chairman Matt Fabian of Municipal Market Advisors, was “Crisis of Confidence.”
The first monthly luncheon is being held September 22 with keynote speaker David Bing, the current mayor of Detroit and a former NBA star and steel titan.
“I can think of no better person to lead off the series than Mayor Bing,” said Berger, noting the city has below investment grade ratings from all three rating agencies. “We expect that he is going to talk about what action plan Detroit has for the restoration of trust.”
The event is being held at the Union League Club at 11:30 a.m. Details can be found at MAGNY.org.
Berger expects roughly 200 people to attend, including portfolio managers, rating agency analysts, pricing servicers, and financial advisors.
“They’ll be able to act prudently based upon the knowledge they gain at these forums,” Berger said of the attendees. “They’ll have more credit information and meet the policymakers that influence some of the largest issuers in the municipal bond market. This knowledge will enable them to more accurately assess the value of their holdings.”
In addition to monthly events, the new board is also considering hosting full- or half-day seminars and educational activities. For interested parties outside New York, some luncheons may be streamed live on the internet.
Before the series of luncheons kick off, MAGNY is holding a cocktail party Wednesday evening at the Public House from 5:30 to 7:30.
Berger calls it a social event aimed at keeping up momentum and allowing people in the industry to catch up after several years of dislocation.
The new MAGNY board was appointed in July.
Eric Friedland, who recently took on the role of director for municipal research at Schroder Investment Management, is treasurer.
Chris Mauro, director of muni research at RBC Capital Markets, is secretary.
Kristin Stephens, a director at UBS, is membership chair.
Sandra Brinkert, a director of the municipal products group at Bank of America Merrill Lynch, is program chair.
MAGNY’s history goes back to 1949; it became a charter society in 1983 and currently has more than 600 members.
