London

One Bishops Square, London E1 6AD

17 October 2019

25+ Speakers

Leading figures in the Risk Transfer Sector

250 Seats

Register to secure yours today

Introduction

Join SCI for the 5th Annual Capital Relief Trades Seminar

The EBA's paper on significant risk transfer has facilitated increased standardisation across synthetic securitisations, but regulatory uncertainty remains in terms of STS requirements. SCI's Capital Relief Trades Seminar explores how these factors are being reflected in deal structures, as well as issuer and investor appetite. The event also examines issuance trends, areas of growth and potential barriers to entry.

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Schedule

  • 17 October

Speakers

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Alan Ball

Broker
Texel
Alan Ball, Texel Finance Limited

As a broker at Texel Finance Limited, Alan focuses on working with financial institutions and corporates in arranging and structuring insurance-based solutions for a range of structured credit and regulatory capital driven transactions. Prior to joining Texel Finance, Alan was a Senior Underwriter for Liberty Specialty Markets, where he led the Structured Risk Solutions team. Alan has structured and underwritten a number of innovative and bespoke forms of insurance cover to provide credit risk mitigation, regulatory capital and other benefits to clients. The underlying exposures covered by these insurance policies have included structured loan portfolios, specialist lending exposures, securities financing exposures and alternative assets including portfolios of private equity assets, CLOs and other structured finance exposures.
Prior to joining the insurance market, Alan was a practising corporate lawyer for 9 years, training and qualifying at Slaughter and May. During his time as a lawyer, Alan advised financial institutions, private equity clients and large corporates on a broad range of matters including M&A and ECM transactions, corporate restructurings and structured finance transactions.

17 October

Molly Whitehouse

Director
Mariner Investment Group
Molly Whitehouse joined Mariner in 2012, where she specializes in securitized products and regulatory-capital driven transactions. Through this strategy, Mariner has invested in transactions totaling more than $10 billion in notional risk transfer, with credits located in over 50 countries and exposure to multiple sectors including infrastructure, commercial real estate, equipment finance, and project finance. Ms. Whitehouse is primarily focused on deal structuring and origination, as well as management of the due diligence process. Prior to joining Mariner, she served as an Analyst at Institutional Financial Markets, Inc. Ms. Whitehouse earned her BA in Political Science with Honors from Yale University in 2011. 

17 October

Christian Moor

Principal Policy Advisor
European Banking Authority
Christian joined the European Banking Authority (EBA) in November 2010 and is responsible for regulation and policy issues relating to the capital markets union (including securitisation, covered bonds and sustainable finance). While at the EBA, he has been the main architect of the STS securitisation framework and has been one of the driving forces in the implementation of the STS framework into global standards and European regulation. He has also developed an EU harmonised framework for Covered Bonds and is currently working on significant risk transfer and NPL securitisation.
Prior to this position, Christian worked at De Nederlandsche Bank (DNB) as a banking supervisor and was responsible for prudential supervision on large and midsize banks in the Netherlands. While at DNB he set-up and chaired a structured finance taskforce and was a member of the covered bonds team.
From 2000 to 2008, he held various roles within structured finance and covered bonds at HSBC Bank, Fitch Ratings and Fortis Bank. At HSBC he was responsible for the origination and structuring of securitisation and covered bonds transactions in Benelux, Nordic region and Eastern Europe, while at Fitch he rated RMBS and Covered Bonds transactions across Europe and was a member of rating committees on all types of securitisation and covered bonds.
Christian holds an MSc in Economics, from the University of Groningen (Netherlands).

17 October

Kaelyn Abrell

Co-Portfolio Manager/Partner
ArrowMark Partners
Kaelyn is a Partner and Portfolio Manager for ArrowMark Partners. A core member of the ArrowMark team since the firm’s inception, Kaelyn leads ArrowMark’s fixed income efforts in securitized products and has spearheaded the regulatory capital relief strategy since 2010. Kaelyn was also the lead analyst for the firm’s participation in the Term Asset-Backed Securities Loan Facility (“TALF”) program. Prior to joining ArrowMark Partners in 2008, she was an analyst at Janus Capital Group where her areas of focus included residential and commercial mortgage-backed securities, asset-backed securities, and interest rates (2004-2008). Previously, Kaelyn worked at Great-West Life where she was Assistant Portfolio Manager of $5.5 billion in separate account, general account and total return assets with a focus on high quality fixed income securities (1998-2004). Kaelyn graduated from Illinois State University with a bachelor’s degree in Economics and earned an MBA from Indiana University.

17 October

Martin Neisen

Partner
PwC
Martin Neisen is a PwC Partner located in Frankfurt. He is leading the Regulatory Management business in PwC Europe.
Language: Deutsch, English, Netherlands
Areas of Expertise
•German regulatory banking law
•Qualitative and quantitative risk management
•Credit Risk, Market Risk, OpRisk
•Credit rating processes
Previous Clients (excerpt)
•Deutsche Bank
•Commerzbank
•HSH Nordbank AG
•DekaBank
•VW FS AG
•DZ BANK AG

17 October

Matthias Korn

Head of Financial Solutions
Caplantic
Matthias is in charge of the Financial Solutions division of Caplantic GmbH, Hannover (Germany). A mayor business field is structuring, placement and modelling of securitisation transactions for capital relief purposes. Additionally, Caplantic runs if needed the complete project within the bank itself. Matthias started his career in banking in 1995. Before joining Caplantic Matthias had several positions in banks both on the capital market and risk side with NORD/LB, DekaBank, Allianz and Dresdner Bank.

17 October

Steven Gandy

Managing Director and Global Head, Private Debt Mobilisation-Notes and Structuring
Santander
Steve Gandy is Managing Director, Head of Private Debt Mobilisation, Notes and Structuring, for Santander Corporate and Investment Bank in London.
He has over 27 years’ experience in the securitisation industry, having completed transactions in Europe, United States, Latin America and Asia. He serves on the Board of Directors of the European Data Warehouse, and has also served as Member Chairman of the Securitisation forum of AFME, where he participated in the development of the PCS initiative and currently serves as the chairman of the PCS Market Committee. Steve is also the current chairman of the Securitisation Working Group of the European Banking Federation.
During his 40 years of banking experience, Steve has held a number of management positions, with postings in the US, Mexico, Hong Kong and Paris prior to arriving in London in 1999.
He holds a Bachelors of Arts degree in Linguistics from the University of Texas, and an MBA from Thunderbird, the American Graduate School of International Management, where he also won the Barton Kyle Yount Award.

17 October

17 October

Fiona Walden

Senior Vice President and Global Head of Credit
RenaissanceRe
With more than 15 years of experience in structuring, advising and working on financial transactions, Fiona Walden is SVP and Global Head of Credit. She joined RenaissanceRe in 2018 and specializes in the use of insurance for capital solutions, bank capital, mortgage insurance and strategic risks. She is based in Bermuda.

Previously, Ms. Walden was Co-head of the Strategic Capital Products team at Liberty Specialty Markets. Prior to this, she worked at Willis as Deputy Head of Structured Finance, a position she held from 2010 to 2015. Ms. Walden also has experience as a Managing Associate at the law firm Linklaters where she specialized in tax law.

She has a Bachelor of Arts degree in Jurisprudence from Pembroke College, Oxford University, and an LPC from BPP Law School, London. In addition, Ms. Walden holds the Chartered Institute for Securities and Investment Certificate in Investments (Securities & Financial Derivatives).

17 October

Leanne Banfield

Managing Associate
Linklaters
Leanne Banfield is a Managing Associate in the Derivatives and Structured Products Group in the Linklaters London office and specialises in structured finance and derivatives with a particular focus on repackagings and credit-linked products, including synthetic securitisations. She has acted for financial institutions across multiple jurisdictions and has advised on a wide range of bespoke synthetic risk transfer structures. Leanne has spent time in the firm’s Dubai and Abu Dhabi offices.

17 October

Jessica Littlewood

Partner
Clifford Chance
Jessica is a partner in the structured finance and derivatives practice of global law firm, Clifford Chance LLP.She is recognised as a market leader in synthetic securitisations, risk transfer transactions and other regulatory capital driven structures, having acted for numerous banks and financial investors on such transactions over the past two decades.Jessica has also been working with AFME and PCS in connection with the current reforms to the EU securitisation regulations as they affect synthetic securitisation, and has participated in discussions with regulators and policymakers on these proposals.She currently works in the London office of Clifford Chance and previously worked in their New York office between 2000 to 2003.

17 October

Jo Goulbourne Ranero

Consultant
Allen & Overy
Jo is a consultant in our Financial Services Regulatory team. She has experience advising on a variety of banking regulatory matters including capital and liquidity requirements.

17 October

Daniela Francovicchio

Senior Structured Finance Manager
European Investment Fund
Daniela Francovicchio heads the South European Unit of the Guarantees and Securitisation team at the European Investment Fund. Prior to joining EIF she worked in London for some of the major American and European investment banks. In her current role at EIF she is involved in selecting and executing SMEs securitisation transactions to which EIF and/or EIB participate by guaranteeing part of the tranched risk.

17 October

S

Himesh Shah

Managing Director
Christofferson Robb
Himesh is a Managing Director of CRC (UK), where he is responsible for originating and structuring investments, as well as negotiating deal documentation. He joined CRC from Credit Suisse in London, where he spent eight years as a Director, originating and structuring capital release transactions for European banks. Prior to Credit Suisse, he was with the European securitization teams at BNP Paribas and ING Barings. He spent eight years as an actuarial consultant in the risk, finance and insurance practice at William M. Mercer. He has a B.Sc. Honours in mathematics from Imperial College, University of London (1988) and is a Fellow of the Institute of Actuaries. He is based in London.

17 October

Kaikobad Kakalia

Chief Investment Officer
Chorus Capital
Kaikobad Kakalia is the CIO of Chorus Capital. Chorus Capital is a specialist asset manager investing in performing loan portfolios through risk sharing transactions with financial institutions operating in Europe. Kaikobad joined Chorus Capital at the beginning of 2014, from the Royal Bank of Scotland Plc where most recently he worked as a Managing Director in the Financial Institutions Group. Prior to that, from 2006 to 2012, Kaikobad managed the Treasury Structured Solutions team which originated, structured and executed more than 24 risk transfer transactions on behalf of ABN AMRO and RBS. Kaikobad has over 25 years of financial markets experience, having worked in London, New York and Hong Kong, in a variety of areas including sales, structured finance, CPM, Treasury and most recently Financial Institutions. He was one of the founding members of ABN AMRO’s Portfolio Management Group in 2001, and RBS’ Investment Bank Treasury in 2008.

17 October

Maurits Fliehe Boeschoten

Senior Structured Finance Advisor
FMO
Maurits Fliehe Boeschoten is a senior structured finance advisor in FMO, the Dutch development bank. FMO focuses on emerging markets and developing countries using the UN Sustainable Development Goals as the guiding principles. FMO has recently launched NASIRA, an EUR 500 mln synthetic impact facility leveraging European Commission, Dutch government funds and external investors.

17 October

Barend van Drooge

Associate Director Credit & Insurance Linked Investments
PGGM
Barend van Drooge, CFA is associate director in the Credit & Insurance Linked Investments (CILI) team of PGGM, which has two dedicated mandates to invest in insurance linked investments and credit risk sharing transactions on behalf of PFZW, the pension fund for the Dutch health care sector. Within the team, Barend focuses primarily on credit risk sharing transactions and is member of the team’s investment committees and regulations center. PGGM has invested in credit risk sharing transactions since 2006 and currently manages a portfolio of over € 5 billion. Before joining PGGM, Barend worked as a corporate and tax lawyer in Singapore.

17 October

Robert Simmons

Senior Associate
Allen & Overy
Robert Simmons is a Senior Associate in the Derivatives and Structured Finance practice in Allen & Overy LLP’s London office. Robert advises bank and non-bank clients across a wide variety of product areas and asset classes, with a particular focus on credit derivatives (both cleared and uncleared), capital relief transactions and hedging products. In the derivatives space, Robert advises the EMEA CDS Determinations Committee and was involved in the industry’s implementation of initial and variation margin documentation, working with two financial institutions through the MarginMatrix advanced delivery platform. He has also been heavily involved in advising bank clients on Eurozone sovereign financial crises. Robert has extensive experience in synthetic risk transfer deals, and has represented a range of issuer, arranger and investor clients. Robert has also completed secondments at two international investment banks.

17 October

Frank Benhamou

Managing Director
Barclays
Frank Benhamou is a Managing Director in the FiRM Credit Structuring team at Barclays International and joined in 2006. He oversees the origination, structuring and execution of a variety of transactions ranging from risk transfer solutions to portfolio co-investment, balancesheet securitisation and structured secured funding. Prior to joining Barclays International, Mr Benhamou worked for a year in the Equity Derivatives Trading team in Calyon Paris. Mr Benhamou holds a Master Degree from Ecole Centrale which comprises a year of specialisation in Applied Mathematics to Finance and Entrepreneurship. He also holds a postgraduate degree from La Sorbonne University in Financial and Economical Mathematics.”

17 October

Robert Bradbury

Managing Director
StormHarbour
Robert Bradbury is a Managing Director focusing on European Fixed Income Structuring and Advisory. Robert has significant experience in investment banking and capital markets and joined StormHarbour in November 2015 from Societe Generale. There he covered a broad spectrum of clients in the Financial Institutions Solutions group. Prior to that he worked in the Portfolio Management Structured Executions group at Barclays Capital in London, where he structured transactions to address funding, liquidity and capital constraints for banks. Robert has also worked extensively to implement and monitor new global regulation standards such as the liquidity buffer and leverage ratio.

Robert has extensive experience in capital markets products including structured credit derivatives, cash ABS, synthetic credit products, collateralised financing, loans (IG, HY, project finance, ABLs etc), distressed loan workout scenarios and non-performing loan portfolios. His regional coverage has included the UK, Ireland, France, Germany, Scandinavia, Spain and Portugal, encompassing structures involving large corporate loans, SME loans, residential and commercial mortgages, auto loans and leases and exotic receivables. He has also executed significant transactions involving clients and assets in UAE, USA and Asia. Robert holds a Masters degree in Physics from the University of Oxford, where he attended Queen’s College, and he is also a CFA® charterholder.

17 October

Edmund Parker

Partner
Mayer Brown
Edmund "Ed" Parker is Partner and Global Practice Head - Derivatives & Structured Products at Mayer Brown. Ed also serves on Mayer Brown's partnership board. Ed’s work covers all aspects of derivatives at the highest levels. He has been nominated as Global Derivatives Lawyer of the Year, such is the strength of his technical excellence in this field. He is a trusted thought leader for both clients and the profession, writing extensively on derivatives matters. Under his stewardship, the team was declared overall winner - Americas Law Firm of the Year at the 2018 GlobalCapital Derivatives Awards. The practice also won European Law Firm of the Year for three consecutive years; and US Law Firm of the Year for the second consecutive year in 2017.

Ed has been highly active on many of our most demanding, and innovative, mandates. He is the industry’s most widely-published lawyer on the subject and has written five books on derivatives. Edmund's written works consists, as sole author of both "Credit Derivatives: Documenting and Understanding Credit Derivative Products" and "Credit Derivatives: Understanding and Working with the 2014 ISDA Credit Derivative Definitions"; as sole editor "Equity Derivatives: Documenting and Understanding Equity Derivative Products", and as co-editor of "Commodity Derivatives: Documenting and Understanding Commodity Derivative Products" and "Practical Derivatives: A Transactional Approach".

17 October

Julie Gillespie

Partner
Mayer Brown
Julie Gillespie, a partner in Mayer Brown’s Chicago Office, is co-head of the Structured Finance practice and a member of the firm’s Partnership Board. She has extensive experience representing commercial banks, ABCP conduits, originators, sponsors and investors in structuring, negotiating and documenting asset-backed and other structured finance transactions. Her experience has involved the securitization of credit card receivables, personal loans, auto loans and leases, fleet leases, FFELP and private student loans, and auto and equipment dealer floorplan receivables, as well as synthetic risk transfers. Julie’s areas of expertise include master trust and other revolving structures for the financing of both traditional revolving assets, including credit card and dealer floorplan accounts, as well non-revolving assets, such as fleet leases.
Julie is co-chair of SFIG’s Credit Card Committee and led the SFIG risk retention industry guide working group.

17 October

Carlos Silva

Senior Vice President
DBRS Morningstar
Carlos Silva heads the European Structured Credit team at DBRS Morningstar in London. The team is responsible for rating SME CLO transactions, synthetic structures, CLO warehouse, direct lending, and other structured credit products across Europe. Carlos is also responsible for maintaining and developing the SME CLO methodology and he also contributes to the development of methodologies, research and models used in the rating process.
Prior to joining DBRS, Carlos worked in the Structured Credit team at Fitch Ratings between 2006 and 2011 covering a wide spectrum of structured credit products including leveraged loan CLOs, SME CLOs, synthetics and multi-issuer covered bonds. Carlos holds an MBA from Cass Business School, a Postgraduate degree in Finance from Universidade Católica in Porto and a degree in Economics.’

17 October

Assia Damianova

Special Counsel
Cadwalader
Assia Damianova is special counsel in the Capital Markets Group in Cadwalader’s London office. Her practice focuses on complex financing transactions involving a wide variety of asset classes and related regulatory issues. Assia advises sponsor, arrangers and investors in relation to CLOs, synthetic securitisations, capital relief and other balance-sheet optimisation structures, TRS facilities, credit derivatives and certain restructuring situations.

17 October

Benedetto Fiorillo

Managing Director
NatWest
Benedetto Fiorillo is as Managing Director in the Capital Management team at Natwest. He is responsible for all secondary loans trading, hedging strategy of the bank’s corporate and leveraged loan portfolio as well as and the synthetic securitization programme which he re-established in 2016. He has been working at RBS since 2007 in a variety of capital markets roles including FIG Securitization, Emerging Markets and Export Finance. He holds a J.D. degree from Universita’ degli Studi di Messsina and an LL.M. degree from the University of Chicago the Law School.

17 October

Jan-Peter Hülbert

Managing Director
True Sale International
Jan-Peter Hülbert joined True Sale International GmbH (TSI) in Frankfurt as Managing Director mid 2018. Since then, TSI has expanded its existing operations (TSI Congress, Workshops and Trainings, German SPV platform, TSI Certification) with the establishment of the first independent STS verification agent approved in the European Union, STS Verification International GmbH (SVI). Before joining TSI, Jan-Peter was Head of Asset Based Finance – Corporates at Raiffeisen Bank International AG since 2012 and in a similar role with a large commercial bank before. Since Since 2002, he has structured, financed and placed numerous ABS and ABCP transactions in various asset classes for corporate clients, leasing companies and banks. Jan-Peter is member of the Supervisory Board of STS Verification International GmbH since 1 February 2019.

17 October

Georgi Stoev

Structured Finance Manager
European Investment Fund
Georgi Stoev is a structured finance manager covering the markets of Central and Northern Europe.
He is responsible for EIF investments in funded and synthetic structures in those markets. In addition, he is also advising the European Investment Bank for investments in securitization exposures in CEE, the Nordics, etc.
Georgi has been with the European Investment Fund since 2009 and over the last 12 months he has invested on behalf of EIF and EIB over one billion in SME securitizations of which over 700m in synthetic transactions.
Georgi holds a MBA and is an alumnus of the London Business School and the Chinese University of Hong Kong.

17 October

Mark Lewis

Managing Director, Head of PCS Operations
Prime Collateralised Securities
Mark is a board member, Head of Operations and Head of Analytics at PCS. He has been a participant in the domestic and international financial markets since 1983 and more particularly, the securitisation markets since 1989 including roles as Head of European Securitisation at UBS and Global Head of Structured capital markets at Unicredit. Mark was Chairman of the securitisation division of AFME in 2011.

Mark studied at Downing College, University of Cambridge (1980-1983) where he gained an MA (Cantab).

17 October

Jeremiah Wagner

Partner
Latham & Watkins
Jeremiah Wagner is a partner in the London office of Latham & Watkins and a member of the Structured Finance & Securitization Practice.
He has extensive experience across a range of structured finance, securitization (cash flow and synthetic), derivative, and asset-based lending transactions involving a wide array of asset classes, including secured and unsecured consumer loans, corporate loans (including SME and middle-market), residential mortgage loans, commercial mortgage loans, credit card receivables, small and big ticket equipment leases, auto loans and leases, dealer floorplan loans, insurance products, trade receivables, and many different types of inventory.
Mr. Wagner represents clients (sponsors, originators, issuers, lenders, underwriters, and arrangers) in international capital markets transactions, including securitizations and other asset-backed US-registered public offerings, cross-border offerings, commercial paper programs, and private placements. He has also been involved in a number of tender offers for asset-backed securities in the United States and Europe. He also represents financial institutions and companies in asset-based lending transactions and other similar financings. His experience in this area targets inventory and receivables financing across a number of jurisdictions, including the United States and Europe.
Mr. Wagner also advises clients on a number of regulatory matters affecting the banking and securitizations industries. He is frequently involved with various association responses to regulatory matters, including capital requirements, accounting, rating agencies, liquidity requirements, and other similar matters.

17 October

Pablo Sánchez

Structured Finance Manager
European Investment Fund
Pablo Sánchez is an investment manager of the European Investment Fund responsible for the securitization and structured finance activity in Iberia, among other geographies.

Prior to joining the European Investment Fund, Pablo worked for Banco Santander taking different responsibilities in the area of structured credit solutions for institutional clients. Pablo has worked on innovative financing and risk transfer operations throughout Europe.

Prior to his time at Santander, Pablo worked at Banco Español de Crédito assuming different responsibilities in the areas of structured financing for institutional clients, ACPM and issuance vehicles, always in the area of Treasury and Capital Markets.

Pablo has also been a lecturer of finance in several specialised schools in Spain (AFI, IEB, etc.).Pablo is a Telecommunications Engineer from the Polytechnic University of Madrid and has a Master's degree from King's College London.

17 October

Juan-Carlos Martorell

Managing Director
Mizuho International
Juan Carlos is responsible for the FI structured solutions business at Mizuho International plc (“MHI”), which comprises bank balance sheet solutions, structured MTNs and repacks, and funding solutions. Prior to joining MHI in 2015, Juan Carlos spent 4 years at Lazard where he co-founded their Derivatives & Credit Advisory platform, focusing on capital relief programmes and advising the non-core units of large global banks on legacy issues and regulators on bank systemic issues. Juan-Carlos has broad experience of structured finance and derivatives products, in particular gained at ABN AMRO where he worked in South Europe structured credit origination for over 5 years. Juan-Carlos started his career in the City as a structured finance rating analyst at Standard and Poor’s working on a variety of asset classes such Balance Sheet CDOs and SIV for 6 years. At Standard and Poor’s he developed rating criteria for CLOs of project, infrastructure, and corporate loans and bonds transactions. Juan Carlos holds a degree in Economics from the University of Barcelona and a Master in Finance from Cass Business School.

17 October

Pascale Olivie

Director
Societe Generale
Pascale joined SG early 2019 and is today in charge of developing regulatory capital optimization & de-risking solutions for FIs. In 2019, she executed two CRT trades for approximately 7 bn€ securitized portfolio.
Prior to joining SG, she worked 12 years at CACIB, firstly within the Securitization team and then within the CPM team where she was responsible for the structuring and management of regcap and secured funding deals for own account ; she built there a solid track record of synthetic securitizations deals and bespoke risk transfer transactions: 14bn€ securitized portfolio since 2014, covering a wide range of asset classes (incl. corporate assets, trade finance & emerging assets, Project/asset finance, capital calls) under Notes format and bilateral financial guarantee ; with some recent landmark transactions: first Green Capital Notes backed by a $ 3bn of Structured Finance portfolio (2017); synthetic securitization of a 3bn€ corporate assets portfolio with EIB Group within Juncker Plan (2017) ; synthetic securitization of a 2bn$ trade finance & emerging assets portfolio with IFC with reallocation on Social Emerging assets (2018).
Pascale graduated from the Ecole Nationale de la Statistique et de l’Administration Economique (ENSAE, Paris)

17 October

Yao Yao

Director
Standard Chartered
Yao Yao is director in the Balance Sheet Securitisation, Capital Structuring and Distribution Group(CSDG) of Standard Chartered Bank based in Singapore. She joined this team in 2010 and has been responsible in originating, structuring and executing synthetic balance sheet securitisation and legal true sale securitisation for the Bank.

17 October

Boudewijn Dierick

Managing Director
BNP Paribas
Boudewijn is head of ABS markets in the Securitised Products Group based out of London with a focus on origination and structuring of ABS, RMBS and related facilities for funding as well as capital relief purposes. The team was voted best RMBS arranger and best finance house at the 2019 Global capital awards and won various Covered bonds awards from Global Capital, Covered Bond report and IFR.
Boudewijn joined from UBS where he was a director in the Securitisation team focusing on Northern Europe. Before UBS he worked as Senior Analyst at Moody’s in Paris responsible for rating Covered Bonds, RMBS and ABS transactions in EMEA.
Boudewijn started his career as group trainee at ING in Amsterdam before moving to Corporate Banking in Paris. He has a masters degree in Finance from the Vrije Universiteit in Amsterdam. Boudewijn structured covered bond programmes, ABS and RMBS transactions in a wide range of European countries as well as Canada, Singapore, Korea and Australia. He speaks fluent Dutch, English and French. Boudewijn is deputy chairman of the European Covered Bond Council.

17 October

Salvatore Nuccio

Institutional Sales, Head of Global Markets Solutions
Banca IMI
Salvatore Nuccio, Institutional Sales, Head of Global Markets Solutions, Banca IMI
Salvatore is the head of global markets solutions within the institutional sales group at Banca IMI. He is responsible for tailor made solutions for institutional customers, from capital relief and general risk reduction transactions to structured finance, asset based finance, structured derivatives, credit risk synthetic transfer transactions and deleverage of NPL, distressed loans and illiquid assets.
Salvatore graduated magna cum laude in business administration from the L. Bocconi University in Milan.

17 October

Syril Pathmanathan

Senior Credit Analyst
The D . E . Shaw Group
Syril Pathmanathan is a vice president of D. E. Shaw & Co. (London), LLP and a member of the D. E. Shaw group�s Asset-Backed Strategies ("ABS") investment unit operating from the firm's London office. Mr. Pathmanathan is a member of the Securities team within the ABS unit and focuses on bank regulatory capital transactions. Prior to joining the firm in 2016, he was director at Credit Suisse AG, where he last was head of capital and risk solutions structuring and before that served as head of Asia bank solutions. Prior to that, Mr. Pathmanathan was a partner at Venn Partners LLP, a boutique investment management and advisory firm focused on de-risking opportunities in Europe. From 2005 to 2010, he worked in fixed income and investment banking at Credit Suisse.
Mr. Pathmanathan began his career in 1999 at Oliver Wyman and Company, (subsequently acquired by Marsh & McLennan Cos., Inc.), where he developed risk management tools and frameworks for use by banks globally. He earned his M.A. in Economics from the University of Cambridge.

17 October

Mark Barton

Awards Host
Ex Bloomberg News Anchor
Mark Barton has 23 years of experience as a television news anchor and broadcast journalist.

Having started an an intern in 1995, Mark was was one of five journalists who founded Bloomberg Television's European operations in London. Over the next two decades he went on to play an integral role in establishing Bloomberg TV as a global financial and business news network, broadcast in almost half a billion homes in over 70 countries.

Mark anchored all of Bloomberg Television's prime-time programs, breaking and analysing the biggest global business, financial market and geopolitical events of the past two decades, including six UK general elections, six US elections, the global financial crisis and Brexit. He also conducted over 20,000 interviews with world leaders, finance ministers, central bankers and chief executives, including Bill Gates, Shimon Peres and Jean-Claude Trichet.

Not all Mark's career was spent in a television studio.

He was often unleashed on the world to cover economic, business, political and sport events, including the World Economic Forum (Marrakesh), Geneva Auto Show and FIFA Presidential election (Zurich).

As a radio broadcaster, Mark presented Daybreak Europe on Bloomberg Radio (UK and US), as well as financial and business bulletins on National Public Radio (US), LBC Radio (UK), Jazz FM (UK), and Riviera Radio (France).

He created programs, including the Battle of the Charts segment (which was replicated across Bloomberg Television globally), the weekly Business of Sport show and a 30-minute exclusive on HRH The Duke of York in his role as Special Representative for International Trade and Investment.

And, it was at Bloomberg that Mark got his first taste of media coaching. He trained dozens of television and print journalists how to communicate effectively on air. He also gave weekly training sessions to television colleagues on business and financial markets.

Mark Barton left Bloomberg Television in August 2018 to embark on a new career as a moderator, media trainer, content creator & presenter and communications & public relations specialist.

17 October

Wegoki Mugeni

Client Solutions, Co-Financing & Syndication
African Development Bank
Wegoki joined AfDB in November 2018 and heads the co-financing and syndication division. Prior to joining AfDB, Wegoki headed the East Africa capital markets business at Stanbic Bank where she led transactions for Government of Kenya, East African Breweries Limited (Diageo), Trade and Development Bank, International Finance Corporation, Safaricom Limited, Tigo Tanzania, NMB Bank Plc, Tanzania Electric Supply Company (TANESCO), Tanzania Breweries Limited, Omnicane Mauritius among others. She has over 14 years financial services experience, is a Certified Public Accountant – Kenya and holds an MBA from United States International University – Africa

17 October

Allen & Overy

Mayer Brown

Societe Generale

Caplantic

Mariner

Texel

Arrowmark Partners

Renaissance Re

Linklaters

DBRS

European Investment Fund

Cadwalader

Nomura

Latham & Watkins

REGISTRATION

09:00 AM 09:50 AM

MARKET OVERVIEW

09:50 AM 10:40 AM

An overview of the current status of the capital relief trades market, focusing on areas of growth and potential barriers to entry.
•How does activity and issuance levels so far in 2019 compare to those seen last year?
•How is a turn in the credit cycle likely to impact supply and demand?
• How are rising interest rates affecting investor IRR targets?
• How have previous deals performed?
• How is the market adapting to the requirements of the Securitisation Regulation and STS framework?
•Is there any clarity on the transition from CRA templates to ESMA’s templates?

Panel includes:
Jeremiah Wagner - Latham & Watkins
Jo Goulbourne Ranero - Allen & Overy
Kaikobad Kakalia - Chorus Capital
Robert Bradbury - StormHarbour
Salvatore Nuccio - Banca IMI

Speakers

Networking Break

10:40 AM 11:10 AM

STRUCTURING CONSIDERATIONS

11:10 AM 12:00 PM

How regulatory developments are being reflected in CRT structuring activity.
• Is the emergence of thicker tranches and dual-tranching creating opportunities for insurance companies and pension funds?
• How else are insurers and reinsurers becoming involved in the market?
• Which other considerations should structurers take into account?
• How are CRT deals priced?

Panel includes:
Leanne Banfield - Linklaters
Matthias Korn - Caplantic
Fiona Walden - RenaissanceRe
Assia Damianova - Cadwalader
Pablo Sánchez - European Investment Fund
Yao Yao - Standard Chartered


Speakers

Lunch & Networking

12:00 PM 12:50 PM

STS CONSIDERATIONS

12:50 PM 01:40 PM

Panel kindly sponsored by   
Focus on the EBA’s discussion paper regarding STS criteria for synthetic securitisations.
• Does excess spread hinder the achievement of SRT in synthetic securitisations?
• What are the issues with terminating protection under an issuer bankruptcy scenario?
• What are the pros and cons associated with third-party verification agents?
• How can issuers maintain borrower anonymity while complying with ESMA’s securitisation disclosure requirements?

Panel includes:
Edmund Parker - Mayer Brown
Barend van Drooge - PGGM
Steven Gandy - Santander
Robert Simmons - Allen & Overy
Jan-Peter Huelbert - True Sale International
Mark Lewis - Prime Collateralised Securities

Speakers

Keynote Fireside Chat

01:40 PM 02:10 PM

Jessica Littlewood - Clifford Chance & Christian Moor - EBA 

Speakers

Networking Break

02:10 PM 02:30 PM

ISSUER PERSPECTIVE

02:30 PM 03:20 PM

This panel investigates the drivers for emerging issuers, as well as barriers to entry.
• What role are direct CLNs likely to play in opening up the issuer base?
• How are banks overcoming the issues associated with excess spread in cash SRTs?
• Is CECL a driver for US banks to begin issuing CRTs?
• How is SRT being embraced by multilateral development banks?
• What constitutes a ‘perfect’ investor partner from an issuer’s perspective?

Panel includes:
Carlos Silva - DBRS Morningstar
Steven Gandy - Santander
Frank Benhamou - Barclays
Benedetto Fiorillo - NatWest
Georgi Stoev - European Investment Fund
Boudewijn Dierick - BNP Paribas

Speakers

INVESTOR PERSPECTIVE

03:20 PM 04:10 PM

Panel kindly sponsored by  
The shake-up that is emerging in investor preferences.
• What are the motivations for investors switching their focus from granular assets to non-granular assets and vice versa?
• How do investment strategies and rationale differ between the hedge fund and pension fund/insurance company constituents?
• Which factors should investors weigh up before entering or leaving the CRT market?

Panel includes:
Himesh Shah - Christofferson Robb
Kaelyn Abrell - ArrowMark Partners
Daniela Francovicchio - European Investment Fund
Pascale Olivie - Societe Generale
Syril Pathmanathan - The D . E . Shaw Group

Speakers

Networking Break

04:10 PM 04:30 PM

Basel IV EBA Report: The impact of Basel IV in the EU and the impact on pricing and capital optimisation

04:30 PM 05:00 PM

The topic Basel IV has heated up significantly since the finalisation of CRR II and the EBA report on how Basel IV should be implemented in the EU. This workshop will focus on the possible implications for Banks inside the EU, based on the recommendations and the quantitative impact study of the EBA. The workshop will also highlight the potential impact of the new partial use philosophy for internal rating models and the interdependencies with the new capital floor.


Workshop Host: Martin Neisen, PwC

Speakers

ISSUANCE TRENDS

05:00 PM 05:50 PM

Panel kindly sponsored by  
New asset classes, jurisdictions and ways of utilising CRT technology that are emerging.
• What are the challenges involved in analysing non-corporate/SME exposures?
• Is there a future for ESG/impact SRTs?
• What is hindering the growth of the CRT market further?
• How can CRTs be used to hedge IFRS 9 volatility?

Panel includes:
Molly Whitehouse - Mariner Investment Group
Maurits Fliehe Boeschoten - FMO
Alan Ball - Texel
Julie Gillespie - Mayer Brown
Juan-Carlos Martorell - Mizuho International
Wegoki Mugeni - African Development Bank

Speakers

Capital Relief Trades Awards

05:50 PM 06:30 PM

Hosted by Mark Barton - Ex Bloomberg News Anchor

The awards categories are:

1.Issuer of the year
2.Transaction of the year
3.Impact deal of the year
4.Innovation of the year
5.Investor of the year
6.Credit insurer of the year
7.Arranger of the year
8.Law firm of the year
9.Advisor of the year
10.Personal contribution to the industry award.

Speakers

Cocktail Reception

06:30 PM 07:30 PM