Washington - The District of Columbia selected J.P. Morgan Securities Inc. this week to serve as cofinancial adviser for the next two years.
The firm will join M.R. Beal & Co., the current financial adviser, in assisting the district's debt financings.
J.P. Morgan was selected from 13 responses the city received to a competitive solicitation for proposals sent to more than 120 investment banking and financial advisory firms.
The 13 respondents were: J.P. Morgan; M.R. Beal; Dillon Read & Co.; Evensen Dodge Inc.; Fund Services Associates Inc.; O'Brien Partners Inc.; Stephens Inc.; Charles A. Bell Securities Inc.; Donaldson, Lufkin & Jenrette Securities Corp.; Carmona Motley & Co.; Public Financial Management Inc.; WR Lazard & Co.; and The Hamilton Securities Group Inc.
