NEW YORK, Oct. 9 /PRNewswire/ -- The Bond Market Association will present
its Distinguished Service Award to William J. McDonough, president and chief
executive officer of the Federal Reserve Bank of New York, at its Annual
Awards Dinner, November 19th. In addition, the Association will honor Michael
P. Mortara, an innovative leader in the mortgage-backed market, with a special
posthumous award.
Originally scheduled for October 3, the dinner will take place at the
Marriott Marquis Hotel in New York City beginning with a reception at 6 p.m.
Along with the presentation of the awards, the Association's program will
honor the survivors, the missing and those who lost their lives because of the
recent terrorist activities at the World Trade Center, the Pentagon and on the
hijacked airliners. The Association sadly notes the high number of bond
market professionals who were lost in the tragedy at the World Trade Center.
Virtually everyone who works in the bond markets lost a friend, a colleague or
loved one. The Association will also honor the thousands of rescue workers
who labored to find and save victims at the sites.
"This will be an opportunity for the fixed-income community to recognize
two important individuals for their innovative contributions to our industry
and markets, as well as to reflect upon the memories of those who are gone in
the aftermath of the World Trade Center attack," Micah Green, Association
president, said. "By honoring the best of the bond market, the industry is
demonstrating we still have much that we can accomplish and will accomplish."
Proceeds of the dinner will go to The Bond Market Foundation whose general
mission is to broaden public understanding of the value of saving and
investing. "While the dinner is the principal means of funding the
Foundation's educational activities, a portion of this year's dinner proceeds
will be directed to relief funds for those affected by the September 11
tragedy," Green said.
Established in 1991, the Association's Distinguished Service Award is
presented annually to recognize the accomplishments of individuals in the
private or public sector who have had a significant impact on the bond market.
The recipients are honored for their promotion of solutions to important
problems of public policy, their willingness to assess fairly the impact of
government actions on the bond markets, or the advocacy of policies or
innovations that specifically benefit the bond market and the economy as a
whole.
Past recipients include such notables as former Treasury Secretary Robert
E. Rubin, Chairman of the Federal Reserve Board of Governors Alan Greenspan,
and William H. Gross, chief investment officer and co-founder and managing
director of Pacific Investment Management Company (PIMCO).
Since 1993, Mr. McDonough has been president of the New York Fed, which is
responsible for implementing federal monetary policy, conducting open market
operations and intervening in foreign exchange markets. As president of the
New York Fed, Mr. McDonough is vice chairman and a permanent member of the
Federal Open Market Committee.
Mr. Mortara, who passed away last year, was president and CEO of
GSVentures, a financial services venture business launched by The Goldman
Sachs Group, Inc. He previously was co-head of Goldman Sachs' Fixed Income,
Currency and Commodities Division and served on the company's Management and
Risk Committees.
Mr. Mortara, one of the innovators in the mortgage-backed securities
industry, served on The Bond Market Association's board in 1985. He was also
a former vice chairman of the Mortgage and Asset-Backed Securities Division
and served on the Treasury Borrowing Advisory Committee.
The Bond Market Association represents securities firms and banks that
underwrite, trade and sell bonds in the international and domestic markets.
SOURCE The Bond Market Association
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Related links:
http://www.bondmarketassociation.com
CONTACT:
Michael Dorfsman, +1-212-440-9426, or Myra L.
Dandridge, +1-202-434-8421, both of The Bond Market Association
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