The Virgin Islands Public Finance Authority (VIPFA) has announced that it engaged the services of Fiscal Strategies Group Inc as its independent registered municipal advisor.
Fiscal Strategies Group Inc. (FSG) is an independent financial advisory firm that provides financial advisory services to state and local governmental clients. Founded in 1996 as a non-underwriting participant in the securities marketplace, FSG senior advisors have extensive experience in governmental finance, policy analysis and management of complex financing transactions.
The FSG team has a long history in the Virgin Islands, where it has previously worked for the government and VIPFA under the leadership of former governors Alexander A. Farrelly and John de Jongh Jr. and the Virgin Islands Port Authority (VIPA). FSG is knowledgeable of the territory’s pension system challenges and will work closely with key stakeholders to propose solutions to the crisis faced by the Government Employees Retirement System (GERS).
VIPFA’s director of finance and administration explained to the board of directors during its Aug. 12 meeting that “Fiscal Strategies Group has a long-standing relationship with the Virgin Islands Government and a proven financial services record.” The board of directors voted unanimously to engage the expertise and experience that Fiscal Strategies Group Inc. offers.
Along with the U.S. Virgin Islands, the Fiscal Strategies Group Inc. team’s domestic clients have included the states of Florida, California, Colorado, Virginia and New Mexico; cities such as San Francisco, Atlanta, St. Louis and Denver; and various county school districts across the country. FSG’s international clients have included the Mexican Secretaria de Comunicaciones y Transportes, the Mexican Development Bank Nafinsa N.A., the Mexican National Water Company, Confederacion National del Aqua, the World Bank, the European Bank for Reconstruction and Development, and the Government of South Africa.
Fiscal Strategies Group is registered as a municipal advisor with the Securities and Exchange Commission and the Municipal Securities Rulemaking Board.