Fiscal board adviser BGC Partners plans to dissolve

By THE STAR STAFF An adviser to the Financial Oversight and Management Board whose fees were challenged by Puerto Rico Electric Power Authority (PREPA) creditors is shutting down. Bloomberg, citing an unnamed source, reported earlier this month that BGC Partners plans to dissolve. The oversight board hired BGC Partners in February 2024 to replace Citigroup Global Markets after Citi closed its municipal finance division. BGC was founded by three former Citi executives: David Brownstein, John...