Pension / Investment Management

M/WBE Broker Dealer Program

In order to enhance the use of minority- and women-owned brokerage firms by investment advisors under contract to the Systems, the Comptroller’s Office, on behalf of the pension funds, created a Minority- and Women-Owned Brokerage Initiative. Through the initiative, a pool of minority- and women-owned brokerage firms was established to execute trades subject to best execution on behalf of the Systems’ investment managers. If your firm would like to be considered for inclusion in the pool in the future, please email your firm’s contact information to Mark Pendarvis, Investment Officer, Fixed Income.


Request for Expression of Interest for M/WBE-Owned Brokerage Initiative

At the time that a Request for Expression of Interest (RFEI) is released, your firm will be invited to compete and be considered for inclusion in the Minority- and Women-Owned Brokerage Initiative.

Please note that in order for New York-based firms to be eligible to complete the RFEI, your firm must be certified by either the New York City Department of Small Business Services (SBS) or the New York State Empire State Development (ESD) as a Minority/Women-owned Business Enterprise or M/WBE. Businesses based outside of New York City (including those located in New York State), must be certified by the ESD. Certification takes from four to twelve weeks and re-certification is required approximately every two years or at the request of the certifying agency.

Applications can be downloaded from the SBS and ESD websites. Alternatively, you may contact SBS by calling (212) 513-6311 or by writing to the agency at 110 William Street, 7th floor, New York, NY 10038. To contact ESD, you may call (212) 803-2414 or write to the agency at 633 Third Avenue, 32nd floor, New York, NY 10017.