The conference
In February 2010, IMN’s Sixteen Annual Beneficial Owners’ Securities Lending Summit attracted over 115 Beneficial Owners to North San Diego, California, where they candidly discussed current developments regarding their Securities Lending programs. In response to the many requests we’ve had to offer an East Coast edition of this Summit, IMN is pleased to announce the 2nd Annual East Coast Beneficial Owners’ Securities Lending Summit on June 28-29, in Boston, Massachusetts. A concentrated day and-a-half format will build on the San Diego Summit with an agenda that has been updated to reflect the very latest market developments. The Summit will be a combination of Roundtable Discussions, Panel Presentations and Closed-Door Roundtables. Discussions will focus on recent past events, the current environment and future implications through lively discussion about the profound issues confronting Beneficial Owners. Only the most pressing issues confronting Beneficial Owners will be addressed including: - Leading Beneficial Owners’ Industry Roundtable - Securities Lending In A Heightened Regulatory Environment - Risk Management for Securities Lending In 2010 - Collateral Management In A Flat Market: Maximizing Cash Collateral Programs Also Presenting IMN’s Series of Closed-Door Beneficial Owner Discussions ***Additional New Programming: Beneficial Owner Roundtable Workshops! Drawing on the expertise of pertinent Beneficial Owners, Agent Lenders, Custodians, Consultants, Associations, Regulators and Providers we aim to provide a comprehensive educational update and prime networking opportunity to all involved. We look forward to hosting you in Boston in June.
Who should attend
The Summit is geared toward Beneficial Owners from the following types of institutions: Pension Funds, Mutual Funds, Endowments, Foundations, Investment Management Firms and Insurance Companies. While the agenda is primarily programmed for Beneficial Owners, as an Industry Summit it is also most suitable for Executives involved in Securities Finance Operations e.g. Risk Managers, Operations Managers, Treasury Operations Managers, as well as Securities Lending Industry Professionals e.g. Banks, Broker/Dealers, Specialist Agents, Agent Lenders, Third-Party Lenders, Consultants, Attorneys and Technology Providers.
Monday, June 28th, 2010
PRE-SUMMIT BENEFICIAL OWNER ONLY PROGRAMMING: 9:00 - 11:15

10:54 AM
Beneficial Owner Registration & Breakfast

9:00 AM
Pre-Summit Workshop: ‘101’ Refresher Tutorial:
What Is Securities Lending? How Does Securities Lending Work Operationally? What Are The Benefits And Risks Associated With Securities Lending? What Are The Potential Revenues That Can Be Earned? What Decisions Need To Be Made By The First Time Lender? How Can A New Lender Determine Best Practices? How Have Beneficial Owner Programs Changed Over The Years?

  • Bill Pridmore, President, WILLIAM F. PRIDMORE, LTD. (Discussion Leader)
10:54 AM
Pre-Summit Workshop: ‘303’ Advanced Tutorial:
Advanced Lending Strategies for Beneficial Owner Programs In 2010

  • Jonathan Kowolik, Senior Consultant, Principal, R.V. KUHNS & ASSOCIATES, INC. (Discussion Leader)
10:00 AM
Closed-Door Beneficial Owners’ Roundtable Discussion
It Is Crucial That Beneficial Owners Have An Opportunity To Convene With Their Peers. The Closed-Door Roundtable Discussion Provides A Rare Opportunity To Compare And Contrast Beneficial Owners’ Lending Knowledge, Risk Management Techniques, Comparative Performance Results As Well As Daily Experiences.

  • Sarah Nicholson, Securities Finance Director, AVIVA INVESTORS (Discussion Leader)
  • Lance Doherty, Director of Treasury, PACIFIC LIFE INSURANCE COMPANY (Discussion Leader)
MAIN SUMMIT BEGINS

10:54 AM
Exhibit Hall Opens

10:54 AM
General Registration & Refreshments For All Non-Beneficial Owners Sponsored By:


10:54 AM
Opening Remarks From Information Management Network

10:54 AM
Opening Address: ‘The State Of The Economy’

  • Timothy Cahill, Treasurer & Receiver-General, COMMONWEALTH OF MASSACHUSETTS
10:54 AM
Mid-Year Industry Review: Market Update Report
This Session Provides A 12-Month Recap Of Securities Lending Market Information Including: - Market Size - Loan Volumes - Activity Levels: The GC vs. Specials Dynamic - Market Trends - Performance Results By Industry Sector

  • Tim D'Arcy, Senior Vice President – Astec Analytics, FIS
10:54 AM
Securities Lending In A Heightened Regulatory Environment
- A discussion of Pending Rules, Regulations, and Legislation and the impact on the Securities Lending Market - How will pending Regulation and Legislation impact Beneficial Owners Programs? - Who are the Principal Regulators Within the Industry and What Do They Regulate? - How do the Regulators Interact In the Market? - The Federal Reserve’s Current Involvement In Securities Lending - Tri-Party Repo Update - Short Sale Transparency, Naked Shorts & Reg. SHO Enforcement - What are the Implications for the Hedge Fund Community

  • Robert Toomey, Managing Director, SIFMA (Moderator)
  • Rebecca Nordhaus , Senior Vice President, Global Head of Regulatory Strategy for Securities Lending, BROWN BROTHERS HARRIMAN
  • Roel Campos, Ex-Commissioner SEC & Parter-In-Charge, COOLEY GODWARD KRONISH
  • Steven Pesek, Supervising Examiner, FEDERAL RESERVE BANK OF NEW YORK
  • Jennifer Han, Assistant General Counsel, MANAGED FUNDS ASSOCIATION
10:54 AM
Luncheon

2:00 PM
Risk Management for Securities Lending in 2010
An Examination Of The Changing Risk Management Programs In 2010: - Operational Risk – Systemic Risk, Pricing Utilities, Ratings Agencies - Counterparty Risk – Distribution Opportunities / Concentration Risk - Interest Rate & Liquidity Risk – “Changing Perspective for Cash Collateral Management” - Indemnification Against Borrower Default: Evolving Views; “Having Indemnification is Not a Panacea.” - Is Mark-To-Market And Overcollateralization Enough? – Changing Views on Cash and Non-Cash Collateral. - Do Risk Monitoring Programs Work? - How Can A Beneficial Owner Be Sure That They Fully Understand The Risks Of Their Program? - Aiming To Employ “Best Practices?”

  • William Smith, Managing Director, Sales Executive, Corporate and Investment Bank - Securities Lending, J.P. MORGAN (Moderator)
  • John Arnesen, Senior Business Consultant, DATA EXPLORERS
  • Anthony Toscano, Managing Director, Head of US Trading, DEUTSCHE BANK
  • Robert Wittie, Partner, K&L GATES LLP
  • David Little, Head of Securities Finance, RULE FINANCIAL
  • Scott Utain, Manager - Securities Lending, VANGUARD
10:54 AM
Managing Relationships For Optimal Results: What's Involved?
- The Beneficial Owner Perspective: What Is A Beneficial Owner looking To Gain From Their Agent relationship? - Manager Selection: What Is Involved In The Contract And Due Diligence Process? How Do Beneficial Owners’ Juggle Trustee Expectation In This Current Environment? - Measuring Client Satisfaction: Client Evaluation Processes And Feedback - What Should A Beneficial Owner Expect From Their Manager In Terms Of Client Service & Reporting? - Benchmarking To Measure Performance. How Important Is Benchmarking And What Methods Do Providers Use? - How Useful Are Industry Surveys? Do Beneficial Owners Participate?

  • Tim Smollen, Global Head of Agency Securities Lending, DEUTSCHE BANK (Moderator)
  • John Fox, Head of Client Management (NY), BNY MELLON
  • Dwight Skerritt, Director, CREDIT SUISSE
  • Sheila Swanson, Managing Director, J.P. MORGAN
  • Don Myers, VP & CFO - Investments, LIBERTY MUTUAL GROUP
  • George Trapp, Senior Vice President, Head of North American Securities Lending Client Service, NORTHERN TRUST
10:54 AM
Afternoon Refreshments Sponsored By:


4:00 PM
Collateral Management In A Flat Market: Maximizing Cash Collateral Programs
- What Are The Current Trends In Cash Collateral Management? How Is The Shift In Risk Tolerance Impacting Cash Programs? Maintaining An Imperative Risk Vs Reward Balance - Which New Strategies Work In This New Environment? - Cash Vs Non-Cash Collateral - When Does Cash Stop Being A Viable Model? Equities As Collateral: The Future Of Collateral Management? - What Are The New “Best Practices”? - Update On Products With Daily Floating Rates But Longer Maturities - What Are The Most Innovative Approaches? Which Types Of Firms Will It Work For? - Enhancing Liquidity In A Cash Collateral Portfolio

  • Barry Winter, Managing Director, CITI (Moderator)
  • Michael Evan, Managing Director, BLACKROCK
  • Robert Crossen, Portfolio Investments & Cash Management Officer, ILLINOIS STATE TREASURER
  • Jerome Schneider, Managing Director, PIMCO
  • Thomas Motley, Managing Director-Head of US Cash Management, STATE STREET GLOBAL ADVISORS
10:54 AM
Leading Beneficial Owners’ Industry Roundtable
- How Exactly Have Beneficial Owners Fared Over The Past Year? - What Are Providers Doing Well? What Do Providers Need To Improve On? - What Are The “Takeaways” From Lehman And The Last 21 Months? - Handling Losses: Who Absorbed The Losses And Where Are We At In This Process? - How Are Beneficial Owners’ Attitudes And Programs Different Than They Were 1 Year Ago? - Is Reinvestment Risk Still The Key Focus Of Every Beneficial Owner? - Industry Trends: Unbundling. Custody vs. Third Party Lending. - Does Using Multiple Providers Help To Mitigate Risk? - Exclusives vs. Normal Lending Programs - Securities Lending Agreements- The Future - What Are Expectations In Terms Of Future Beneficial Owner Participation In The Securities Lending? Are Funds Coming Back To Securities Lending / Starting New Programs?

  • Jonathan Kowolik, Senior Consultant, Principal, R.V. KUHNS & ASSOCIATES, INC. (Session Chair)
  • Sarah Nicholson, Securities Finance Director, AVIVA INVESTORS
  • Robert Crossen, Portfolio Investments & Cash Management Officer, ILLINOIS STATE TREASURER
  • Kathleen Clune, AVP & Assistant Treasurer, PACIFIC LIFE INSURANCE COMPANY
  • Scott Utain, Manager - Securities Lending, VANGUARD
10:54 AM
Networking Cocktail Reception

10:54 AM
Summit Day One Concludes

Tuesday, June 29th, 2010
PRE-SUMMIT BENEFICIAL OWNER ONLY PROGRAMMING

10:54 AM
Beneficial Owner Breakfast & Closed-Door Workshop Registration

10:54 AM
Beneficial Owner Breakfast Breakout Workshops
Sessions will take place in the Seaport Ballrooms 'A', 'B' & 'C' The topics that Beneficial Owners are most interested have been identified and Industry Experts will facilitate Roundtable Workshops. Beneficial Owners can attend the session that most interests them and have the benefit of engaging in a dialogue in order to get a deeper understanding of the topic and how it specifically relates to their needs. Beneficial Owners will have the opportunity to attend three rotations of 30 minute Workshops on the following pertinent topics:

12:00 AM
Workshop A
An Overview Of Collateral Reinvestment Workshop Leader:

  • Kevin O'Connor, Senior Vice President, WACHOVIA GLOBAL SECURITIES LENDING
  • Michael Saunders, Trader, WACHOVIA GLOBAL SECURITIES LENDING
12:00 AM
Workshop B
Program Oversight and Performance Measurement Workshop Leader:

  • Christine Donovan, Head of Global Securities Lending, BROWN BROTHERS HARRIMAN
12:00 AM
Workshop C
Agent Selection & The RFP Process Workshop Leaders:

  • Peter Bassler, Managing Director, Business Development, ESECLENDING
  • Josh Galper, Publisher, SECURITIES FINANCE MONITOR
GENERAL SESSIONS RESUME

9:00 AM
Breakfast for Non-Beneficial Owners

10:54 AM
International Market Update: Key Trends In Emerging & Developed Markets
An Update On International Market Access & Lending Internationally Specific International Market Update: A Case Study Of The Brazilian Market An Assessment Of The Attractiveness Of Lending In The ‘Hottest’ Latin American Market In The Face Of Geopolitical Market Volatility And Short Term Investment Concerns. - Assessing The Market Potential: Is Supply Opening Up? - What Are The Volume And Revenue Potentials? - What Are The Caveats To Address Whilst Lending In This Market? - What Are The Operational & The Regulatory Issues To Consider? Addressing Pension Fund Tax Concerns • Cash Reinvestment. - Which Emerging Markets Can Be Foreseen To Be Opening Up In The Near Future? How Attractive Are These Markets In Comparison To More Developed Markets? What Are The Rewards And Challenges Associated With These Markets?

  • Patrick Avitabile, Global Head of Product Strategy & Development, CITI (Moderator)
  • Mark Payson, Global Head of Business Development, BROWN BROTHERS HARRIMAN
  • Christopher Poikonen, Executive Vice President, Business Development, ESECLENDING
  • Robert Cleasby, Director, BANK OF AMERICA MERRILL LYNCH
  • Jim McDonald, Head of Global Trading, Securities Finance, STATE STREET SECURITIES FINANCE
  • Edward Barnes, Head of International Securities Lending, UBS
10:54 AM
Central Counterparties: Everything A Beneficial Owner Needs To Know
- What Is The Current Status And Anticipated Future Direction Of CCPs? - What Are The Practical Benefits & Concerns For Beneficial Owners Should They Embrace This Model Vs The Lending Agent Model? - Clearing And Settlement Issues; Transaction / Implementation Costs. Assessment of the Risk Controls Involved - What Are The Volume Potentials, Expectations, And Critical Mass Requirements? - What Are The Current Obstacles To This Concept Being Functional And Widely Accepted - The Prime Broker Perspective

  • Mat Gagné, Managing Director - Product Development, ESECLENDING (Moderator)
  • Bradley Katinas, MD, JEFFERIES LLC.
  • Gregory DePetris, Co-Founder & Chief Strategic Officer, QUADRISERV, INC.
  • James Treseler, Managing Director, SOCIÉTÉ GÉNÉRALE AMERICAS SECURITIES, LLC
11:10 AM
Morning Refreshments Sponsored By:


10:54 AM
The Growth Of Alternatives: A Discussion Of The Growth Of The ETF Market
- A Discussion Of The Explosive Growth & Importance Of The ETF Market - How Do ETFs Fit In The Securities Lending Model? Who Are The Main Players Involved And Who Are the Major Buyers? - Volumes, Assets Under Management, Macro Trends And The Future Direction Of The Market. - Will Lendable Activity Only Increase? - Will US Equities remain The Predominant Asset Class Under ETF Management? - What Are The Benefits Of Using ETFs As An Alternative Asset Class? - ETFs Vs. ETNs

  • Josh Galper, Publisher, SECURITIES FINANCE MONITOR (Moderator)
  • Bill Miller, Director, US iShares Institutional PFE Sales, BLACKROCK
  • Eric Pollackov, Managing Director, ETF Capital Markets, CHARLES SCHWAB
  • Michael Wingertzahn, Delta One Sales Manager , CREDIT SUISSE
10:54 AM
The Future Of Securities Lending Revenues
- Is Securities Lending A Viable Source Of Income Over The Long Term? - How Important Will Intrinsic Lending Be Going Forward? - Is A “Specials-Only” Program A Viable Option For Your Program? - Fee Splits - Spreads Are Still Lower Than Pre-Crisis Levels; Will This Trend Continue? - How Do Beneficial Owners Earn The Highest Return With The Least Amount Of Risk? Is The Return Worth The Risk, Especially For The Smaller Lender? - What Are Industry Predictions Going Forward? A Wrap-Up Discussion Of The Macro Economic Environment And Industry Revenue Trends

  • Tom Daniels, Managing Director, Head of Business Development, the Americas, BNY MELLON (Moderator)
  • Ed Blount, Executive Director, CENTER FOR THE STUDY OF FINANCIAL MARKET EVOLUTION
  • Don Myers, VP & CFO - Investments, LIBERTY MUTUAL GROUP
  • Gene Picone, Director, Global Prime Services, SCOTIA CAPITAL (USA) INC.
  • Bill Pridmore, President, WILLIAM F. PRIDMORE, LTD.
1:10 AM
IMN’s 2nd Annual East Coast Securities Lending Summit Concludes

Event Contacts
Managing Director
Andy Melvin
(212) 901-0542
amelvin@imn.org
Vice President - Sponsorship Sales
Robert Bass
(212) 901-0535
rbass@imn.org
Venue
Seaport Hotel

Phone: 800-440-3318
Website: http://www.seaportboston.com/

1 Seaport Lane
Boston, MA, 02210
USA


Hotels
Westin Boston Waterfront

425 Summer Street
Boston, MA, 02210


Please note: IMN does not have a block of rooms at the Westin Boston Waterfront and cannot guarantee rate or availability.

Phone: 617-532-4600
Website: http://westin.com/boston

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