The Loan Syndications and Trading Association will hold its annual membership meeting this Thursday where it will elect 10 new directors for its 2004 board. Due to the growth in membership, the board of directors decided late last year to increase the number of board slots to 18 from 16, with 50% of the board still subject to re-election each year. In addition to the five current board members who have been nominated for continued service, the nominating committee selected Nancy DelGenio from Deutsche Bank, Jack Yang from Highland Capital Management, Mike Campbell from ING Capital Advisors, and Peter Vaky from SunTrust to join the board.
The agenda for the meeting also includes a discussion on the market launch of CUSIP numbers and the new LSTA Model Credit Agreement. An update of ongoing initiatives such as the loan market guidance for public investors, a position paper on Patriot Act compliance and the completion of new trade confirmations will also be provided. Finally, the membership will receive an update on the third-party review of the corporate loan market being conducted by the Milken Institute, an economic think tank. "I'm interested to see what they've done and what they are going to do," noted one LSTA member.