MetWest Securities – the third party lender that was acquired by Wachovia in 2003 has hired Lynn Thompson as vice president. In her new role, Thompson is part of a team that aims to provide strategic advice on securities lending structures to clients worldwide. She will be based in Tallahassee, Florida.
MetWest Securities remains one of the largest third-party securities lending agents in the US, with an international client base consisting of major institutional funds as well as public fund and corporate portfolios.
“Thompson’s relationships, developed over 32 years in this business, give her unique insight into the securities lending marketplace and make her the ideal candidate to contribute to our business development strategies,” says Lou Molinari, president of MetWest Securities. “Her first-hand experience managing the ever increasing scrutiny placed on fiduciaries, along with her in-depth knowledge of the securities lending business, make her perfect for this role,” Thompson joins MetWest from the State Board of Administration of Florida, where she served as a director of the Short-Term nvestments and Fixed-Income Operations (Securities Lending and Compliance) groups. During her 32-year tenure at the board, Thompson served in various positions within equities, short-term (cash) and fixed income. She was involved in the start-up of the LGIP Fund for Florida municipalities and managed various fixed income/cash portfolios. In addition, she was responsible for the SBA securities lending programme from 1975. It is one of the best-known programmes in the US securities lending industry.
“In joining one of the nation’s leading banks, I will have the opportunity to develop and introduce MetWest’s exceptional capabilities in securities lending to the global marketplace,” says Thompson. “I’m excited to be a part of their team.”