Heard of Ennis Knupp and Simpson Thatcher Bartlett? If you haven’t yet, you’ll know them very well, very soon.
The two firms are at the helm of the $700 billion bailout designed to prop up the faltering American economy, Treasury spokesmen said today.
Neel Kashkari, the interim bailout package director, made the announcement Monday as part of his first official public appearance, saying, "I am confident we are building the foundation for a strong, decisive and effective program."
Ennis Knupp & Associates will advise on the selection of the master custodian asset management firm to administer the bailout. Ennis Knupp, a Chicago-based firm, heavily underscores its philosophy as ‘objective,’ ‘independent’ and ‘conflict-free.’ It was founded in 1981 by Richard Ennis and Jim Knupp, and its 159 retainer clients have total assets of $820 billion
Ennis Knupp will choose one master custodian firm from 70 proposals, and 5-10 managing firms from over 100 applications.
The selected firms will be annouced tomorrow, on Tuesday.
the private firm that will help Treasury review proposals from asset management companies. He said that 70 companies had made bids to become the master custodian firm and that a final selection of the winning firm would be announced by Tuesday.