The conference
This event will herald the first substantial gathering of the covered bonds industry in 2012 with more than 500 professionals expected to attend. Last year we were proud to host several key policy makers and industry associations as keynote and panel speakers, as well as the major covered bond houses and investors as expert panelists. This year will once again serve as fertile ground for thought provoking discussion, attendee networking and creative solution generation for the current financial challenges facing those in the Euro zone. Topics to be covered include but are not limited to: - The outlook for the European covered bonds market in 2012 and beyond - Assessing the fallout from the sovereign debt crisis - The impact of ratings downgrades and watches - Investor and issuer assessment on the relative value of covered bonds as a funding mechanism - New asset classes and markets for covered bonds - Extensive jurisdictional coverage including Spain, France, Germany, Netherlands, Nordic Markets - US Dollar Covered Bonds market outlook - Rejuvenating liquidity and the value of the secondary market - Diversification of investor pools and rebuilding investor confidence - Annual research analysts’ roundtable - And much, much more ... Join us this 23-24 February in London as we seek to assist in the rejuvenation the covered bonds market with optimal networking and knowledge sharing among the leaders of the industry.
Who should attend
Managing Directors for Issuing Banks Analysts for Investment Banks and Rating Agencies Insurance Companies, Central Banks, and Asset Management Firms Heads of Covered Bond Sales Heads of Securitization Heads of Industry Organizations Traders of MBS, RMBS, and Agency and Government Issued Bonds Managing Directors of Debt Capital Markets Portfolio Managers at Pension Funds and Mutual Funds Advisors to Issuers and Arrangers Mortgage Industry Lenders Attorneys at Law Firms and Regulatory Organizations
Thursday, June 30th, 2016
6:22 AM
Chairperson and Host’s Opening Remarks

6:22 AM
Registration and Breakfast

6:22 AM
Delegate Luncheon in Exhibit Area

6:22 AM Track A
Track A Diversifying the Investor Pool and Improving Liquidity in the Secondary Markets
• Where are pricing and spreads going amidst the instability of the euro? • What impact with the ECB purchase programme have on spreads? • How well evolved is the investor base? • How to attract investors back to the market • Assessing foreign investor appetite

  • Julia Hoggett, Managing Director Head of Covered Bonds & FIG Flow Financing EMEA, BANK OF AMERICA MERRILL LYNCH (Moderator)
  • Daniel Loughney, Portfolio Manager, ALLIANCEBERNSTEIN FIXED INCOME
  • Jozef Prokes, Covered Bond Portfolio Manager, BLACKROCK
  • Roger Kuntsche, Executive Director, Covered Bond Trading, J.P. MORGAN
9:00 AM
The Outlook for Covered Bonds in 2012 Amidst Market Macro-Volatility
• Predicted demand for 2012 and beyond • Sovereign and political risk and the effect on investor appetite for covered bonds and on pricing • Impact of the ECB’s CBPP 2.0 • Where are the limits of growth? [i.e. structural subordination, availability of collateral, regulatory intervention though issuance limits] • Impact of CRD 4 regulations on the market • Investors’ views on the market • Are Covered Bonds becoming finally truly global? [Demand/Supply from US and Pacific Region]

  • Steffen Dahmer, Executive Director, Syndicate and Product Manager Covered Bonds, J.P. MORGAN SECURITIES PLC FRANKFURT BRANCH (Moderator)
  • Jens Tolckmitt, Chief Executive Officer, ASSOCIATION OF GERMAN PFANDBRIEF BANKS
  • Bob Penn, Partner, ALLEN AND OVERY
  • Derry Hubbard, Global Head FIG Syndicate, BNP PARIBAS UK
  • Armin Peter, Global Head of Syndicate, UBS
11:00 AM
Refreshment Break in Exhibition Area

10:00 AM
A Regulatory Update on the Global Covered Bonds Market
• The role of government in providing banks with liquidity • Impact of recent legislative and regulatory initiatives on the covered bond market • Examining asset encumbrance rulings and impact on how much paper an entity can issue • Legislation affecting rating agencies and their response • Emerging legislation in new markets: the US, Australia and New Zealand • Impact of Solvency II regulations on the market

  • Peter Voisey, Partner, CLIFFORD CHANCE LLP (Moderator)
  • Tracy Alloway, US Financial Correspondent, THE FINANCIAL TIMES
  • Klaus Kristiansen, Executive Vice President, REALKREDIT DANMARK
  • Jay Surti, Senior Economist, INTERNATIONAL MONETARY FUND
  • Charles Gundy, Senior Advisor, THE BANK OF ENGLAND
  • Volker Gulde, Vice President - Senior Credit Officer, MOODY'S INVESTORS SERVICE
12:00 PM Track A
Track A Assessing Relative Value: Research Analysts’ Roundtable
• How have structures evolved? • How do the CB newcomers compare with the mature CB issuers? • Does structure matter? • Is there consistency and value in the secondary market? • Have we made any progress on transparency (analytics, valuation, surveillance)? • Relative value views

  • Bill Thornhill, Editor, THE COVER (Moderator)
  • Florian Hillenbrand, Senior Covered Bond Analyst, UNICREDIT
  • Heiko Langer, Senior Covered Bond Analyst, BNP PARIBAS
  • Flavio Marco Rusconi, Vice President, JP MORGAN
  • Fritz Engelhard, Director, BARCLAYS CAPITAL
6:22 AM Track A
Track A Transparency in the Covered Bonds Market
• What do investors require and what are issuers currently willing to disclose? • Standards for disclosure and post-deal reporting and how issuers are meeting these criteria • Privacy issues concerning loan level data disclosure • Post-bankruptcy procedure • Comparing the legal frameworks across European jurisdictions • Regulator’s view on transparency initiatives

  • Sally Onions, Partner, ALLEN & OVERY LLP (Moderator)
  • Gary Staines, Director, Asset Backed Solutions, LLOYDS BANK
  • Jose Antonio Trujillo, Chief Executive Officer, INTERMONEY
  • Sascha Kullig, Head of Capital Markets, ASSOCIATION OF GERMAN PFANDBRIEF BANKS
  • Francesca Segurini, Senior Associate - Lawyer, CLIFFORD CHANCE
  • Karlo Fuchs, Senior Director, Structured Finance, STANDARD & POOR'S RATINGS SERVICES
6:22 AM Track B
Track B Roundtable Discussion: The Nordic Markets
• Mortgage trends in the various Nordic markets • Importance of domestic markets in Denmark and Sweden • Is the Nordic market still seen as a safe haven from pan-European volatility, and what have been the special features of the region that built that reputation?

  • Armin Peter, Global Head of Syndicate, UBS
  • Casper Andersen, Director, Structured Finance, STANDARD & POOR'S
  • Claus Jensen, Chief Funding Manager, DANSKE BANK
  • Lauri Iloniemi, Managing Director, OP MORTGAGE BANK
  • Trond Marthinsen, Treasury - Funding, DNB NOR
  • Klas Axelman, Director, LANSFORSAKRINGAR AB
6:22 AM
Keynote Address

  • Mattias Persson, Senior Vice President, Head of Group Funding, NORDEA BANK AB
6:22 AM
The Bright Spot on the Horizon: Update on the Pacific Rim Markets
• Issuer strategy for attracting US and Euro investors • Comparing the US Dollar and Euro markets appeal • Assessing local covered bonds investor appetite for foreign covered bonds

  • Ted Lord, Managing Director & Head of Covered Bonds, BARCLAYS CAPITAL (Moderator)
  • Ignacio Cortes, Director, Debt Securities, WESTPAC BANKING CORP
  • Christopher Walsh, Partner, CLIFFORD CHANCE
  • David Carroll, Director, FITCH RATINGS
  • Franz Rudolf, Managing Director, UNICREDIT CORPORATE & INVESTMENT BANKING
  • Seungho Baek, Portfolio Manager, BANK OF KOREA
  • Chandra Gopinathan, Senior Consultant, ROGGE GLOBAL PARTNERS
Concurrent Tracks “A” and “B” Commence *Track B to be hosted in roundtable format

12:00 PM Track B
Track B Roundtable Discussion: Outlook for the Overseas Covered Bond Markets- North America
• Assessing the logic behind USD issuance; What makes this market attractive? • Complying with SEC regs and overcoming other issuance obstacles; • Alternative structures to overcome 144A restrictions • What are foreign issuers in the US markets looking to achieve?

  • Lawton Camp, Partner, ALLEN & OVERY LLP
  • Julia Hoggett, Managing Director Head of Covered Bonds & FIG Flow Financing EMEA, BANK OF AMERICA MERRILL LYNCH
  • Chris Fernando, Director, UBS AG
  • Vanessa Purwin, Senior Director, FITCH RATINGS
  • Ben Colice, Head of Global Covered Bond Origination, RBC CAPITAL MARKETS
6:22 AM
Refreshment Break in Exhibition Area

Concurrent Tracks “A” and “B” Commence *Track B to be hosted in roundtable format

6:22 AM Track B
Track B Roundtable Discussion: The German Pfandbrief
• Assessing the importance of a domestic investor base; What difference does it really make? • Has the buying behaviour of German investors changed during the crisis? • What needs to happen to make the public sector lending business attractive again? • Have pfandbrief issuers caught the peripheral covered bond market’s cold? Contagion effect of sovereign woes in Europe

  • Peter Scherer, Partner, CLIFFORD CHANCE
  • Rafael Scholz, Head of Treasury, MUENCHENER HYPOTHEKENBANK
  • Bodo Winkler, Head of Investor Relations and Credit Treasury, BERLIN HYP AG
  • Götz Michl, Head of Funding, DEUTSCHE PFANDBRIEFBANK AG
  • Martin Schulze Elfringhoff, Director, UNICREDIT CORPORATE & INVESTMENT BANKING
6:22 AM
Day One of the 5th Annual Global Covered Bonds Conference Concludes and Networking Cocktail Reception Commences on 30th Floor. Sponsored by:


Thursday, June 30th, 2016
6:22 AM
Registration and Breakfast

9:00 AM
Continued Investment in Covered Bonds? Investors’ Relative Value Roundtable
• Investor concerns on supply/demand fundamentals, spreads and issuer tiering • Views on market safety, transparency, performance • Views on underlying credits and collateral • What do investors look for in an issuer of covered bonds?

  • Tim Skeet, Special Advisor, COVERED BONDS INVESTOR COUNCIL AND CHAIRMAN ICMA COMMITTEE OF REGIONAL REPRESENTATIVES CRR (Moderator)
  • Georg Grodzki, Head of Credit Research, LEGAL AND GENERAL INVESTMENT MANAGEMENT
  • Jozef Prokes, Covered Bond Portfolio Manager, BLACKROCK
  • Olaf Pimper, Group Treasury - Liquidity Portfolio Management, COMMERZBANK AG
  • Gareth Davies, Managing Director , J.P. MORGAN
10:00 AM
Keynote Presentation: The Sovereign Debt Crisis in Europe and Its Potential Impact on the Global Debt Capital Markets

  • Louisa Bojesen, Anchor, CNBC
  • Robert Parker, Global Head of the Strategic Advisory Group, CREDIT SUISSE ASSET MANAGEMENT
6:22 AM
Networking Refreshment Break in Exhibit Area

11:00 AM
Issuers’ Strategy Roundtable
• Do covered bonds still make sense as a funding tool? A look at current funding costs, diversification opportunities and currencies issued • When will current issuers reach capacity? A look at asset encumbrance rules and current levels • Assessing investor appetite for new issue covered bonds and secondary market liquidity • Transparency issues and disclosure requirements • Issuing in euros vs. dollars; cost vs. benefit comparison

  • Salim Nathoo, Partner, ALLEN & OVERY LLP (Moderator)
  • Rafael Scholz, Head of Treasury, MUENCHENER HYPOTHEKENBANK
  • David Wallis, Head of Funding, NATIONWIDE BUILDING SOCIETY
  • Henry Raymond, Président Directeur Général, CRH-CAISSE DE REFINANCEMENT DE L'HABITAT
6:22 AM
Rating Agency Developments for the Covered Bonds Sector
• Implications of an unstable and weakened sovereign rating for covered bonds in the peripheral jurisdictions

  • Horst Bertram, IR Consultant, INDEPENDENT CONSULTANT (Moderator)
  • Keith Gorman, Senior Vice President, DBRS
  • Nick Lindstrom, Associate Managing Director, MOODY'S INVESTORS SERVICES
  • Sabrina Miehs, Director, STANDARD & POOR'S
  • Cosme de Montpellier, Senior Director, FITCH RATINGS
6:22 AM
The 5th Annual Global Covered Bonds Conference Concludes

Event Contacts
Senior Vice President, Conference Producer
Jade Friedensohn
(212) 901-0560
jfriedensohn@imn.org
Associate Investor/Issuer Relations
Caitlin Fitzpatrick
(212) 224-3530
caitlin.fitzpatrick@imn.org
Head of Sales - Structured Finance
Chris Keeping
(212) 901-0533
ckeeping@imn.org
Head of Sales - Structured Finance
Chris Keeping
(212) 901-0533
ckeeping@imn.org
VP, Sponsorship Management
Ashley Hofmann
(212) 901-0562
ahofmann@imn.org
Venue
Clifford Chance LLP

10 Upper Bank Street Canary Wharf
London, E14 5JJ,
England


PLEASE DO NOT CALL CLIFFORD CHANCE WITH ANY INQUIRIES. ALL QUESTIONS SHOULD BE DIRECTED TO IMN - 212-768-2800. Please note that Clifford Chance does not have storage space for luggage. Please make the necessary arrangements to have your luggage stored at an alternate location.

Hotels
Travel Inn Capital Hotel


London, ,
England

Please note that this is a suggested hotel. IMN does not have a contracted rate and cannot guarantee availability.

Phone: 44 (0) 870238 3322
Website: http://www.travelinn.co.uk

Crowne Plaza Docklands

Western Gateway, Royal Victoria Dock
London, E16 1AL,
England

Please note that this is a suggested hotel. IMN does not have a contracted rate and cannot guarantee availability.

Phone: 44 (0) 870 990 9692
Website: http://www.holidayinndocklands.co.uk

Sunborn Yacht Hotel

Royal Victoria Dock
London, E16 1XL,
England

Please note that this is a suggested hotel. IMN does not have a contracted rate and cannot guarantee availability.

Phone: 44 (0) 20 7059 9100
Website: http://www.sunbornhotels.com

Hilton London Docklands

Nelson Dock, 265 Rotherhithe Street
London, SE16 5HW,
UK

Please note that this is a suggested hotel. IMN does not have a contracted rate and cannot guarantee availability.

Phone:
Website: http://www.hilton.co.uk/docklands

Four Seasons Canary Wharf

46 Westferry Circus, Canary Wharf
London, E14 8RS,
UK

Please note that this is a suggested hotel. IMN does not have a contracted rate and cannot guarantee availability.

Phone: 44 (20) 7510 1999
Website: http://www.fourseasons.com/canarywharf/index.html

London Marriott West India Quay

22 Hertsmere Rd, Canary Wharf
London, E14 4ED,
England

Please note that this is a suggested hotel. IMN does not have a contracted rate and cannot guarantee availability.

Phone: 44 20 70931000

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