Florida SBA gives $30 billion mandate to eSecLending
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Florida SBA gives $30 billion mandate to eSecLending 27 February 2014Boston Reporter: Mark Dugdale
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The Florida State Board of Administration (SBA) has chosen eSecLending to provide it with securities lending and collateral management services.
The securities lending agent was selected in 2013 to auction and manage approximately $30 billion in global equity assets for Florida SBA’s multi-agent lending programme.
eSecLending held an auction in November 2013 for Florida SBA’s global equity assets and implemented the programme consisting of both exclusive borrower arrangements and discretionary lending in January.
Chris Jaynes, president of eSecLending, said: “After an extensive search process, we were thrilled to be selected by Florida SBA to manage a portion of their securities lending programme and are grateful for the opportunity to demonstrate our differentiated lending model and service structure.”
“We are confident our approach will continue to unlock value for Florida SBA and its constituents by utilising a transparent, disciplined and repeatable lending process.”
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