New York

31 West 52 Street, New York, NY 10019

March 26 2020

25+ Speakers

Leading figures in the Risk Transfer Sector

165 Seats

Register to secure yours today

Introduction

Join SCI for the 4th Annual Risk Transfer & Synthetics Seminar

JPMorgan broke new ground in October 2019 with its Chase 2019-CL1 synthetic RMBS. SCI's Risk Transfer & Synthetics Seminar explores the micro and macro drivers behind this landmark deal and whether it could spur further risk transfer activity across a broader range of originators and asset classes in the US. The event also highlights innovation across the mortgage insurance-linked note and GSE CRT programmes, as well as the lessons that could be learnt from the European SRT experience.

Early-bird registration is now open

Delegate rates:

December $1,077

January $1,236

February $1,422

March $1,636

Exclusive Host

Platinum Sponsor

Bronze Sponsors

Agenda

  • 26 March

Speakers

Early-bird registration is now open

Delegate rates:

December $1,077

January $1,236

February $1,422

March $1,636

Conference App

Many fellow delegates and speakers are already using the App to arrange meetings on the day. Please download and register the conference app to maximise your time at the event: https://attendify.com/app/mpdtjf

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.

26 March

26 March

Jason Marlow

Managing Director
Barclays
Jason Marlow is a Managing Director in the Corporate Loan Portfolio Management team in Barclays Bank. He focuses on Credit Risk Mitigation as well as overall portfolio strategy across the Corporate and Investment Bank. Jason holds a BA in Economics from Georgetown University.

26 March

Mark Kruzel

Director
Citi
Mark is a Director in Strategic Risk Solutions, based in New York. He focuses on regulatory capital and risk management-based solutions for banks and insurance companies in the US, Canada, and Latin America. His specialities include securitization, structured credit, credit default swaps, and Basel regulation. Mark previously worked at CitiBanamex in Mexico City, where he was part of the franchise risk team responsible for integrating Banamex into Citi’s global businesses. He also worked in Loan Portfolio Management at Citi, which was responsible for the general credit portfolio management, risk mitigation, and balance sheet hedging of Citi’s corporate loan book. Mark is a graduate of American University with a B.A. in International Relations and a B.S. in Finance. He is a CFA Charterholder and speaks Spanish and Mandarin Chinese.

26 March

Leanne Banfield

Counsel
Linklaters
Leanne Banfield is a Counsel 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.

26 March

Kaelyn Abrell

Partner, Portfolio Manager
ArrowMark Partners
Kaelyn Abrell | Partner, Portfolio Manager

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.

26 March

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.

26 March

Seamus Fearon

Executive Vice President, Credit Risk Transfer & Services, Global Mortgage
Arch Capital Group Ltd
Seamus Fearon has recently been promoted to Executive Vice President, Credit Risk Transfer & Services, Global Mortgage. In this role, Seamus will have responsibility for managing Arch’s Credit Risk Transfer (CRT) business and for growing its Credit Risk Services offerings. Seamus most recently held the role of Chief Actuary of Arch’s Global Mortgage Group, where he oversaw the development of its capital management and analytics framework. Mr Fearon is a Fellow of the Institute and Faculty of Actuaries and holds a B.Sc. in Actuarial Mathematics from Dublin City University and a PLD from Harvard Business School.

26 March

Kaikobad Kakalia

CIO
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.

26 March

David Moffit

Head - Tactical Investment Opportunities and CLO Management
LibreMax Capital
David Moffitt is a Managing Director at LibreMax Capital and is responsible for Tactical Opportunities and Special Situations Investing. Prior to joining the firm, Mr Moffitt was a Managing Director and partner at J.C Flowers & Co. At Flowers, he was responsible for the firm's investments in fixed income assets as well as the head of JC Flowers Asset management, the firms dedicated fixed income platform.
Prior to Flowers, Mr Moffitt was a founding member of Mead Park Assett Management LLC where he was a portfolio manager for structured products investing and Co-President of the firm's CLO management platform. Prior to Mead Park, Mr Moffitt was a Managing Director in the Capital markets division at Morgan Stanley where he was global head of the firm's securitization and asset finance business and the structured solutions business. While at Morgan Stanley, he served on the firm's Capital Markets management committee.
Mr Moffitt has held similar positions at Matlin Patterson Global Advisors (Senior Advisor) Merrill Lynch & Co. (Head Structured Products Distribution - Americas), RBS Greenwich Capital and Credit Suisse.
Prior to banking, Mr Moffitt practised law with Brown Rudnick Freed and Gesmer in Boston and is a member of the Massachusetts, New York and the United States Supreme Court bars. He is a graduate of Syracuse Univesity College of Law(magna cum laude, Order of the Coif) and Binghamton University.

26 March

Joost Hoogeveen

Senior Portfolio Manager
PGGM
Joost Hoogeveen, CFA is senior portfolio manager in PGGM’s Credit and Insurance Linked Investments team. Joost joined PGGM in 2013 and is specialized in working with banks on structuring credit risk sharing transactions. PGGM manages over US$ 250 billion of assets for Dutch pension funds, out of which approximately US$ 6 billion is allocated to credit risk sharing transactions as of December 2019. Prior to joining PGGM Joost worked at UBS Investment Bank in London as a quantitative analyst in UBS’s structured credit trading department.
Joost holds a master’s degree in Physics from the University of Cambridge and a PhD in Theoretical Physics from the University of Amsterdam.

26 March

Timothy Cleary

Partner
Clifford Chance
Timothy Cleary is a partner in the Banking and Finance Group of Clifford Chance in the London office, specializing in structured finance and bank capital management. He has a particular focus on synthetic securitization and other credit risk mitigation and risk transfer transactions, and regularly acts for many of the active originator banks across Europe, North America and Asia. Timothy also has extensive experience with the various regulatory and structuring considerations relevant in such transactions.
Timothy also has broad experience in all aspects of OTC derivatives, in particular in connection with asset-backed securitization, whole business securitization, project and asset finance and real estate finance, as well as the repackaging of derivative exposures and securities financing transactions. He regularly advises industry bodies such as the Association for Financial Markets in Europe (AFME) and Prime Collateralized Securities (PCS) in relation to the evolving regulatory landscape for securitization in the EU.

26 March

26 March

Jeffrey.N. Krohn

Managing Director
Guy Carpenter
Jeff leads Guy Carpenter’s Global Mortgage Credit Speciality practice and has more than 25 years of experience in the insurance and reinsurance industry. Jeff’s expertise in the mortgage insurance sector has been independently recognised. He was named Risk & Insurance magazine’s list of Reinsurance Power Brokers and his transaction covering European mortgage risk was highly commended at the Worldwide Reinsurance Awards. Guy Carpenter’s clients include Government Sponsored Enterprises and private mortgage insurers across the globe.

Prior to joining Guy Carpenter in 2002, Jeff was with PricewaterhouseCoopers where he worked as a management consultant in the Corporate Strategy Practice for the firm’s Insurance Sector. Jeff received his MBA in Finance from Carnegie Mellon's Tepper School of Business and BA in Speech Communications and Mathematics from the University of Maryland.

26 March

David Felsenthal

Partner
Clifford Chance
David Felsenthal is a partner in the Capital Markets Group of Clifford Chance in the New York office. David has a leading practice in derivatives, structured finance and fintech. He works on derivatives transactions and regulations across a range of asset classes and transaction types. He also advises extensively on trading transactions including repo, securities lending and secured financing. David has been a leader in developing and executing structured products, including securities linked to credit and equity, and is particularly known for his work on synthetic securities and risk-transfer transactions.
David's expertise has been recognized by numerous trade associations: he has represented ISDA in its advocacy for improved swap margin rules and other matters; he gives the industry-wide opinions for SIFMA for the standard documentation for repo, securities lending and forwards. He is a frequent speaker at conferences organized by PLI, ISDA, and others. David has been recognized as a leading practitioner by Chambers US and Chambers Global.

26 March

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.

26 March

Terry Lanson

Managing Director
Seer Capital
Terry Lanson is a Managing Director at Seer Capital Management. He is responsible for the management of Seer's investments in bank regulatory capital relief transactions, as well as other European investments. Seer has been an active investor in reg cap transactions across asset classes and jurisdictions since 2008. Mr Lanson joined Seer shortly after its inception in 2008 from Citigroup in London, where he spent two years. He spent the previous 9 years at Deutsche Bank in New York and London, where he was part of the team responsible for Deutsche's market-leading balance sheet securitization/reg cap program. He worked on transactions including Haus, Core, Cast, Craft, Gate, and London Wall for Deutsche, as well as the first Start deal for Standard Chartered. He also structured and executed some of the first securitizations in the European markets for auto loans, trade receivables, and Pan-European corporate bonds. Mr Lanson holds an undergraduate degree from Harvard College.

26 March

Som-lok Leung

Executive Director
IACPM
Som-lok Leung is the Executive Director of the International Association of Credit Portfolio Managers (IACPM). The IACPM is a non-profit industry association dedicated to advancing the practice of credit portfolio management through advocacy, research, education, communication and promotion of sound practice. Its membership now comprises over 100 financial institutions around the globe.
In his role, Som-lok oversees all aspects of the association, and reports to the IACPM Board of Directors. Previously, Som-lok was a Senior Director in the KMV (now Moody’s Analytics) Client Solutions group, working with a wide range of banks, insurance companies, and asset managers. Prior to joining KMV, Som-lok accumulated over a dozen years of risk management experience, both in staff positions and as a management consultant. Som-lok has been Director of Risk Policy at Nomura Securities, responsible for covering both market and credit risk on the New York trading floor, and also Director of Credit Risk Control at the Union Bank of Switzerland in NY, responsible for both counterparty credit risk and risk measurement and management for the corporate loan portfolio. This followed a career as a management consultant at Oliver, Wyman & Co. that focused primarily on risk management. Som-lok graduated summa cum laude from Harvard University.

26 March

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.

26 March

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.

26 March

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".

26 March

Mark Fontanilla

Managing Director
Mark Fontanilla & Co.
Mark Fontanilla is the founder of Mark Fontanilla & Co., LLC, a strategic consulting firm that specializes in market strategies, advanced research and analysis, and index design and administration. With over 20 years of experience in the bond markets, mortgage finance, and fixed income research, Mark has achieved a uniquely thorough acumen in capital markets and investment analysis. Before founding MF&Co, he was a senior fixed income marketing strategist at Fannie Mae, including specific work with their primary credit risk transfer (CRT) program, Connecticut Avenue Securities™ (CAS). Prior to that, he had been a publishing research analyst in residential mortgage securities at Wells Fargo Securities, LLC, as well as an RMBS/ABS trader at Royal Bank of Canada, and the Director of Risk and Portfolio Management at Champion Mortgage. Mark has a B.S. and M.B.A in finance from Penn State University.

26 March

26 March

Jason Walker

Co-Chief Investment Officer
CQS
Jason is Co-Chief Investment Officer (CIO) of ABS and jointly manages CQS’ global asset-backed securities strategies across dedicated hedge funds, long-only funds and bespoke mandates. Jason is a member of the Firm’s Executive Committee, Long-Only Multi-Asset Credit Asset Advisory Committee, and together with his fellow Co-CIO, leads the twelve-strong team of dedicated ABS portfolio managers and analysts located in London and New York.

Prior to joining CQS in 2010, Jason held a number of ABS Portfolio Management positions. Before CQS he was with Henderson Global Investors where he was a member of the team managing the Henderson European ABS Opportunities Fund. Before this, he held ABS Portfolio Management roles at Bank of Scotland Treasury, TD Securities and Abbey National Treasury Services, where he began his career as a graduate trainee in 1995.

Jason holds an M.Sc. in Finance from the University of Strathclyde and a BA (Hons) Accountancy from Glasgow Caledonian University.

Thierry Adant

Head of Private Debt, Investments
Willis Towers Watson
Thierry is Head of Private Debt at Willis Towers Watson.

Willis Towers Watson Investment business helps over 1200 clients globally with $134bn in assets under management and $2.6tn under advice.

Thierry is responsible for asset allocation and due diligence of private debt investment opportunities for investors globally.

Thierry is a member of the Investment Committee managing Willis Towers Watson's Alternative Credit Fund.

26 March

Jack Kahan

Senior Managing Director
KBRA
Jack Kahan is a Senior Director responsible for Residential MBS at Kroll Bond Rating Agency, Inc. He covers all RMBS asset types, including newly-originated prime jumbo loans, legacy performing and reperforming loans, newly-originated agency loans, and resecuritized legacy RMBS bonds.

Prior to joining Kroll, Jack spent seven years in various roles in the U.S. RMBS group at Standard & Poor’s, most recently as a Director and Analytical Manager responsible for newly issued ratings. In addition to leading a team of analysts in applying new issuance methodology and ratings, Jack lead and co-authored many of the firm’s RMBS-related criteria and research publications. His focus on the implementation of Ability-to-Repay rules lead to numerous publications and panel appearances on the subject, most notably the firm’s criteria for assessing the risk associated with originating and servicing loans subject to Ability-to-Repay rules.

He also co-authored the firm’s criteria for evaluating bonds backed by servicer advance receivables, commentary on emergence of new issuers in the prime RMBS market, and commentary on evaluating foreclosure timelines on legacy RMBS loans. Jack was also primarily responsible for maintaining and updating methodology related to the firm’s credit model, releasing periodic enhancements and updates in response to changes in the market.

In addition to his work in structured finance ratings, Jack spent two years as a risk management Senior Associate with Sterling Stamos Capital Management, LP. At Sterling Stamos, he was responsible for evaluating the fund’s hedge fund exposure across the firm’s absolute return and equity focused strategies. In this role, he performed diligence on prospective fund investments and helped to build a comprehensive risk tracking and reporting system which covered VaR metrics, stress testing, and liquidity analyses.

Jack has a BS in Quantitative Finance and a BS in Economics from James Madison University.

26 March

Jason Walker

Co-Chief Investment Officer
Jason is Co-Chief Investment Officer (CIO) of ABS and jointly manages CQS’ global asset backed securities strategies across dedicated hedge funds, long-only funds and bespoke mandates. Jason is a member of the Firm’s Executive Committee, Long-Only Multi-Asset Credit Asset Advisory Committee, and together with his fellow Co-CIO, leads the twelve-strong team of dedicated ABS portfolio managers and analysts located in London and New York.

Prior to joining CQS in 2010, Jason held a number of ABS Portfolio Management positions. Before CQS he was with Henderson Global Investors where he was a member of the team managing the Henderson European ABS Opportunities Fund. Before this, he held ABS Portfolio Management roles at Bank of Scotland Treasury, TD Securities and Abbey National Treasury Services, where he began his career as a graduate trainee in 1995.

Jason holds an M.Sc. in Finance from the University of Strathclyde and a BA (Hons) Accountancy from Glasgow Caledonian University.

26 March

Doug Darman

Strategic Corporate Lending
Deutsche Bank
Doug Darman is a Director in Deutsche Bank’s Strategic Corporate Lending group, focusing on Securitizations and based in New York. He is responsible for the structuring and management of the DB’s capital relief trades and other risk mitigation tools, working with various corporate lending portfolios of the bank.

Doug graduated with an MBA in Accounting from Rutgers University Graduate School of Management in 1992, and a BA in Economics from Rutgers University in 1990.

26 March

Thomas Killian

Managing Director | Investment Banking Financial Services Group
Sandler O'Neill & Partners
Thomas W. Killian is a Managing Director in the Investment Banking Group of Piper Sandler & Co. His 41-year career in commercial and investment banking includes seven years of commercial banking experience with NationsBank, structuring and arranging leveraged finance transactions; two years with SalomonBrothers, transacting capital markets and advisory assignments for a variety of major corporations; five years with J.P. Morgan, managing financial advisory and capital raising activities for banks and thrifts in the Western region of the United States; and 27 years with Sandler O’Neill, advising banks, thrifts, and insurance companies on a variety of capital markets, strategic advisory and M&A assignments.
At Piper Sandler, Mr. Killian has managed the successful execution of numerous M&A and capital raising transactions. He co-managed the team responsible for successfully completing 17 pooled trust preferred transactions that raised over $7 billion for approximately 650 financial institutions. He functions as a primary resource in structuring and implementing complex capital markets transactions for financial institutions.Mr. Killian holds a Bachelor of Science from the University of North Carolina at Chapel Hill, where he was a John Motley Morehead Merit Scholar, and a Masters in Business Administration from Northwestern University's J.L. Kellogg Graduate School of Management.

26 March

Sean Kavanagh

26 March

Clifford Chance

Mayer Brown

Platinum

Linklaters

Arrowmark

Texel

Arch

Guy Carp

Mariner

CQS

Mark Fontanilla & Co.

KBRA

Registration

09:30 AM 10:00 AM

Market Overview

10:00 AM 10:55 AM

This panel focuses on regulatory and structural developments in the US synthetic securitisation market. How has the Chase 2019-CL1 transaction impacted the risk transfer space? Is the distinction
between credit risk transfer and capital relief trades becoming increasingly blurred?

Joost Hoogeveen - PGGM
Steven Gandy - Santander
Jessica Littlewood - Clifford Chance
David Moffitt - LibreMax Capital

Speakers

Mortgage Risk Transfer

10:55 AM 12:00 PM

Panel kindly sponsored by  

This panel examines how the US Treasury’s push to reform the housing market is impacting GSE and private credit risk transfer transactions. It also covers the latest developments in the mortgage insurance-linked notes space.

Jack Kahan - KBRA
Seamus Fearon - Arch Capital Group
Jeffrey.N. Krohn - Guy Carpenter
Mark Fontanilla - Mark Fontanilla & Co.


Speakers

US Mortgage CRT Market: Fundamentals, Technicals, and Investor Returns

12:00 PM 12:30 PM

US Mortgage CRT Market: Fundamentals, Technicals, and Investor Returns

- Issuers, Structures, and Market Dynamics
- Credit Risk and Performance
- Relative Value and Benchmarking vs. Other Fixed Income Sectors

Custom-Tailored CRTx® Index Historical Performance Snapshot for Session Attendees (Limited Slots for Investors/Issuers following session).


Workshop Host: Mark Fontanilla

Speakers

Lunch & Networking

12:30 PM 01:30 PM

Issuer Perspective

01:30 PM 02:25 PM

This panel explores how issuers continue to innovate, broaden investor participation in and enhance the liquidity of their programmes. It also looks at their motivations: often combining regulatory capital relief
with improved profitability, greater capacity and managing internal concentration limits.

Som-lok Leung - IACPM

Steven Gandy - Santander
Jason Marlow - Barclays
Doug Darman - Deutsche Bank

Speakers

Investor Perspective

02:25 PM 03:20 PM

Panel kindly sponsored by  

This panel discusses how the investor base for CRTs is evolving, with the influx of insurers and other mezzanine players. It also highlights the potential for divergence in investor appetite and market liquidity
for mortgage CRTs, given the homogeneity of the underlying, versus other asset classes.

Edmund Parker - Mayer Brown
Kaelyn Abrell - ArrowMark Partners
Alan Ball - Texel
Terry Lanson - Seer Capital
Thierry Adant - Willis Towers Watson
Jason Walker - CQS

Speakers

Networking Break

03:20 PM 03:45 PM

The US Perspective

03:45 PM 04:40 PM

Panel kindly sponsored by

This panel explores the factors that may facilitate greater US CRT issuance, including CECL mitigation, as well as the lessons that can be learnt from the European experience. What are the prospects
for consumer CRTs and community/regional bank issuance in 2020? Are there any structuring solutions that could cross over from the wider banking industry?

Julie Gillespie - Mayer Brown
Mark Kruzel - Citi
David Felsenthal - Clifford Chance
Thomas Killian - Sandler O'Neill & Partners

Speakers

Keynote Fireside Chat

04:40 PM 05:10 PM

Timothy Cleary - Clifford Chance & Sean Kavanagh

Speakers

Networking Break

05:10 PM 05:35 PM

Workshop

05:35 PM 06:05 PM

Emerging Trends

06:05 PM 07:00 PM

This panel tracks the emergence of new asset classes and jurisdictions onto the capital relief trades scene. What role are ESG considerations playing in the growth of the market?

Leanne Banfield - Linklaters
Kaikobad Kakalia - Chorus Capital
Timothy Cleary - Clifford Chance
Molly Whitehouse - Mariner Investment Group

Speakers

Cocktail Reception

07:00 PM 08:00 PM

 kindly sponsored by