The Loan Syndications and Trading Association membership ratified the election of five new board members at its annual membership meeting last week. The new board members include Nancy DelGenio from Deutsche Bank, Jack Yang from Highland Capital Management, Scott Krase from Oak Hill Advisors, Mike Campbell from ING Capital Advisors, and Peter Vaky from SunTrust. The membership also renewed the terms of five outgoing board members. Don Pollard from Credit Suisse First Boston will chair the LSTA board in 2004. Pollard had been the board's vice-chair last year. Glenn Stewart of Bank of America, the outgoing chair, and Mark Lies of Lehman Brothers will share the role of vice-chair. Eric Chilton of Barclays Capital will be the board's treasurer.
The annual meeting is also the LSTA's opportunity to review the progress it has made in 2003 and highlight its initiatives for 2004. Highlights for 2004 include the launch of CUSIP numbers for the syndicated loan market, new trade confirmations and a user guide to the forms, guidance for handling non-public information, the establishment of standard procedures for primary syndication and agent transfer practices, a position paper on Patriot Act compliance, and an article reviewing the corporate loan market provided by the Milken Institute.