NEW YORK - New York’s Metropolitan Transportation Authority will recommend Lamont Financial Services Corp. and Swap Financial Group LLC to replace Goldman, Sachs & Co. as financial and swap advisers at a Monday meeting, according to materials posted on the MTA’s website.
Goldman has served as the MTA’s financial adviser since 2000.
The authority selected the two new firms from among 15 responses to a June 15, 2009, request for proposals.
The selections were based on “the quality of the written proposals, the oral interviews, the experience of the key members of the respective advisory teams, and the updated price proposals,” according to finance committee meeting materials.
The firms’ contracts, subject to committee and board approval next week, would run for three years with the possibility of two one-year renewals after that period.
Spokesmen for the MTA and Goldman declined to comment.
