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Banking and Capital Markets

FT Debt Capital Markets Outlook 2016

Securing Stability amid ‘The Great Distortion’

London |
Speakers include:
José Viñals

José Viñals

International Monetary Fund (IMF)

Claudio Borio

Claudio Borio

Bank for International Settlements

Michala	 Marcussen

Michala Marcussen

Societe Generale

Overview

Unprecedented challenges persist for issuers and investors in today’s bond market. Amidst uneven global recovery, increased volatility, negative yields, pending rise in interest rates by the US Fed and looming threat of the exit by Greece, the era of the Great Distortion shows little sign of waning. How will the markets behave with an increase in monetary stimulus programmes? How do investors remain vigilant in an environment of diverging monetary policies and reduced market liquidity? Will post-crisis regulations continue to impair the debt markets or are there other contributing factors to the liquidity drought?

Following a very well received inaugural event in February 2015, The FT Debt Capital Markets Outlook 2016 will bring together investors, central bankers, fund managers, primary dealers, issuers, market strategists and industry thought leaders to explore and debate the outlook for debt capital markets and how to find stability amid the market distortions driven by monetary policy.

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fallback Add to my Calendar 02/10/2016 08:30:0002/10/2016 17:00:00trueFT Debt Capital Markets Outlook 2016Unprecedented challenges persist for issuers and investors in today’s bond market. Amidst uneven global recovery, increased volatility, negative yields, pending rise in interest rates by the US Fed and looming threat of the exit by Greece, the era of the Great Distortion shows little sign of waning. How will the markets behave with an increase in monetary stimulus programmes? How do investors remain vigilant in an environment of diverging monetary policies and reduced market liquidity? Will post-crisis regulations continue to impair the debt markets or are there other contributing factors to the liquidity drought?Following a very well received inaugural event in February 2015, The FT Debt Capital Markets Outlook 2016 will bring together investors, central bankers, fund managers, primary dealers, issuers, market strategists and industry thought leaders to explore and debate the outlook for debt capital markets and how to find stability amid the market distortions driven by monetary policy.FT-Debt-Capital-Markets-Outlook-20169acc4bd9a62f0ea86ed75fded1189873MM/DD/YYYY

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Steffen Kern Presentation - Banking on reform, a policy outlook

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Claudio Borio Presentation - A lens for viewing the global economy

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Speakers (21)

José Viñals

José Viñals

Financial Counsellor and Director of the Monetary and Capital Markets Department
International Monetary Fund (IMF)

José Viñals is currently the Financial Counsellor and Director of the Monetary and Capital Markets Department of the International Monetary Fund (IMF). He is a member of the Financial Stability Board, representing the IMF.

His professional career has been closely tied to the Central Bank of Spain, where he served as the Vice-Governor after holding successive positions. He has also held the positions of Chairman of the European Central Bank International Relations Committee; and Chairman of Spain’s Deposit Guarantee Funds.

He has been a member of: the Bank for International Settlements (BIS) Committee on the Global Financial System; the European Central Bank Monetary Policy Committee; and the high-level group appointed by the President of the European Commission to examine economic challenges in the European Union. He was also a member of the European Union Economic and Financial Committee and a Board Member of the Spanish Securities Authority.

He holds a PhD in Economics from Harvard University. He is a former Faculty Member of the Economics Department at Stanford University.

Claudio Borio

Claudio Borio

Head of the Monetary and Economic Department
Bank for International Settlements

Claudio Borio is Head of the Monetary and Economic Department (MED), Bank for International Settlements.  He has been at the BIS since 1987, covering various responsibilities in the Monetary and Economic Department including Director of Research and Statistics and Head of the Secretariat of the Committee on the Global Financial System and the Gold and Foreign Exchange Committee, which examine, inter alia, issues related to financial stability and market functioning.  From 1985-1987, he worked as economist at the OECD in the country studies branch of the Economics and Statistics Department.

Prior to that, he was Lecturer and Research Fellow at Brasenose College, Oxford University.  He holds a DPhil and MPhil in Economics and a BA in Politics, Philosophy and Economics from the same university and is author of numerous publications in the fields of monetary policy, banking, finance and issues related to financial stability.

Michala	 Marcussen

Michala Marcussen

Global Head of Economics
Societe Generale

Michala Marcussen joined the Societe General in 1994 and SG CIB in 2009 as Global Head of Economics. Ms Marcussen heads a team of 20 economists based in Paris, London, Warsaw, Prague, New York, Hong Kong and Tokyo.

With 25 years of experience in the financial industry, she is a frequent commentator in the financial press. She has done extensive work on European integration, the long-term economic outlook and pension systems, and maintains ties to academia.

Jim Probert

Jim Probert

Head of Global Capital Markets
Bank of America Merrill Lynch

Jim Probert is a Managing Director and head of Global Capital Markets at Bank of America Merrill Lynch. In this role, he leads a large team of Capital Markets professionals across Equity Capital Markets, Debt Capital Markets, Leveraged Finance and Origination of Corporate Derivatives and FX across the Americas, Europe, Asia and the Emerging Markets.

Prior to his current role, he was head of Americas Investment Grade Debt Capital Markets since March 2010. Probert was responsible for Investment Grade Syndicate, Loan Syndications, Private Placements and Money Markets. He was head of the Investment Grade Capital Markets Syndicate desk in New York before that.

He joined Bank of America in 1994 as a Principal and Head of European Investment Grade Syndicate in London. He returned to the US in 1996 and was promoted to Managing Director in 1997.

Steffen Kern

Steffen Kern

Chief Economist and Head of Financial Stability
ESMA

Steffen Kern is Chief Economist and Head of Financial Stability of the EU’s financial market supervisory authority ESMA, in Paris. Appointed in 2012, his responsibilities include the analysis of market developments and identification of risks and vulnerabilities in the securities and derivatives markets, the institutional investor industry as well as the financial market infrastructure of the EU.

Before joining the EU’s public service, he had worked for Deutsche Bank, including positions as Director for International Financial Market Policy, as Executive Assistant to the CEO of Deutsche Bank Group, and as Senior Economist at Deutsche Bank Research.

Mr Kern is a Honorary Professor at the Johannes Gutenberg University Mainz teaching international financial market development, regulation, and supervision. He serves as a Senior Non-resident Fellow of the Transatlantic Academy in Washington, and was appointed the 2011 Helmut Schmidt Fellow of the ZEIT-Foundation and the German Marshall Fund. He holds academic degrees in Economics, Politics, and Philosophy from the Universities of Oxford and Leuven (Belgium) and a Doctorate from Erasmus University Rotterdam.

Monish Mahurkar

Monish Mahurkar

Director of Treasury Market Operations
IFC

Monish Mahurkar is Director of Treasury Market Operations at IFC (World Bank Group) with responsibility for the institution’s global debt capital markets and fixed income activities including execution of IFC’s funding strategy and management of its cash and liquid asset portfolios. Previously Director of Treasury Client Solutions, Mr Mahurkar joined IFC in June 2012 with over 25 years of international experience in banking and capital markets. He has worked extensively on developing capital markets through innovative transactions in many countries including China, India, Nigeria, Rwanda, Zambia, Dominican Republic, Armenia and Georgia. Mr Mahurkar’s earlier assignments include Managing Director and Treasurer of Citibank Japan (1999-2003), Managing Director & Head of Risk Treasury at Citibank New York (2003- 2007) and Managing Director & Head of Fixed Income for Merrill Lynch India (2007-2008). Mr Mahurkaralso served as Head of Local Currency Capital Markets at the Asian Development Bank based in Manila (1999-2012) before joining IFC.

Cosimo Marasciulo

Cosimo Marasciulo

Senior Vice President - Head of European Government Bonds
Pioneer Investments

Cosimo Marasciulo is Head of European Government Bonds at Pioneer Investments. He was appointed to this role in June 2010. He is also the Lead Portfolio Manager of several fixed income portfolios.

Prior to this, he was Head of Fixed Income in Italy, a role to which he was appointed to in 2004. Previously he was a Senior Portfolio Manager in the Dublin hub.

He joined Pioneer Investments in January 2000 upon completion of a Master’s degree in Financial Economics from London Business School-Bocconi-University College Dublin. He has been specialising in Fixed Income products since joining Pioneer Investments.

He is a Business Engineering graduate of Milan Polytechnic College and has completed post-graduate studies in Fixed Income Portfolio Management at Bocconi University (Italy).

Markus Stadlmann

Markus Stadlmann

Chief Investment Officer
Lloyds Bank

Markus Stadlmann is the Chief Investment Officer of Lloyds Bank. He joined the bank in 2014 to build out its investment capability for private banking and wealth management clients. He leads a team of specialists, dedicated to helping both clients and colleagues with better financial decision making and successful money management. Mr Stadlmann has also been a lecturer on business ethics, leadership and investment management at various universities for ten years, including IESE Business School, London Business School and University of Vienna. He presents regularly at academic and industry conferences, and is a frequent media commentator.  His previous experience includes management positions at Erste Group in Vienna and Barclays plc in London. At Barclays, he led the portfolio management and specialist investment teams which catered to the wealth management needs of affluent and high net worth customers. Prior to joining Barclays, he was Managing Director of Harald Quandt Holding and Chief Investment Officer of HQ Trust, which to this day is the largest family office in Europe. He spent eight years at Siemens AG, initially as fund manager. He eventually became the CIO of the pension fund and a member of the leadership team of Siemens Financial Services. Mr Stadlmann holds an MBA from the University of Chicago Graduate School of Business (later re-named Chicago Booth). 

Sumit Jamuar

Sumit Jamuar

CEO
State Bank of India Capital UK

Sumit Jamuar has been appointed as the CEO of SBICAP, the UK subsidiary of the investment-banking arm of the State Bank of India, the leading commercial bank in India.

As India’s leading investment bank, SBI Capital Markets offers a complete range of solutions across financial advisory and investment banking services. Over the years, SBI Capital Markets has engaged with a number of high profile government and corporate mandates, playing a critical role in the Indian growth story.

Mr Jamuar was formerly with Lloyds Banking Group in the UK, holding various senior leadership positions, most recently as Managing Director and Global Head of Sales and Global Clients. Prior to this, Mr Jamuar served as a Consultant with McKinsey and Company. In his role as CEO of the UK office, Mr Jamuar will drive the firm’s financial services delivery via close collaboration with SBI Capital Markets’ global offices, in addition to building out the business in the UK.

Mr Jamuar also serves as Chairman of Global Gene Corporation, Director of KYCTrust, and Co-Vice Chairman of the UN’s ITU – Gates Foundation Focus Group on Consumer Protection and Experience for Digital Financial Services. He has previously served as Board member of GEFCO and First Securitisation Company. Mr Jamuar has been a member of BAFT-IFSA European Council, and has served as an expert witness on impact of Basel 3 for the BIS Select Committee in UK Parliament.

He is an Advisor to SPICMACAY, UK and UK Trustee for Lake Tanganyika Floating Health Clinic. Mr Jamuar holds a BA in Chemical Engineering from the Indian Institute of Technology, and an MBA from INSEAD. He is a Fellow of Institute of Directors, London.

David Rolley

David Rolley

Vice President, Portfolio Manager & Co-Team Leader Global Fixed Income Group
Loomis, Sayles & Company

David Rolley is a Vice President, Portfolio Manager and Co-Team Leader of the Global Fixed Income Group and Emerging Market Debt Group at Loomis, Sayles & Company. With 35 years of investment industry experience, he co-manages the Loomis Sayles Global Bond, Emerging Markets Opportunities and Global Equity and Income funds in addition to a suite of products outside the US, and multiple emerging market and global bond portfolios.

Prior to joining Loomis Sayles in 1994, he was a Principal and Director of International Capital Market Research at DRI/McGraw-Hill. His responsibilities included international interest rate and currency forecasting, and risk management consulting. He was also Corporate Vice President and Senior US Economist for the institutional equity group at Drexel Burnham Lambert, and Chief Financial Economist at Chase Econometrics. He earned a BA from Occidental College and studied post-graduate economics at the University of Pennsylvania.

He is a past President of the Boston Association of Business Economists.

Andrew Main

Andrew Main

Chairman
Stratton Street UCITS Renminbi Bond Fund UI

Andrew Main, is the former Managing Partner of Stratton Street Capital LLP from which he stepped down in July 2014. He remains a Director to Stratton Street PCC, which launched its first Renminbi Fund in 2007, and is Chairman of Stratton Street UCITS Renminbi Fund based in Luxembourg. 

He also is a Senior Adviser to ADAMAS Group based out of Hong Kong who manage a number of China related Credit Funds, including a joint venture with Ping An Insurance, Asian Fund of Funds and also ADAMAS Finance Asia which is quoted on the AIM market in London.  He is also a Senior Advisor to Vulpes Asset Management in Singapore. This Family Office is offering its investments, both income generating and growth opportunities in Fund Structures to outside investors.

He is also an Advisor to IQE Ltd which based in the Isle of Man and has recently been appointed a Non-Executive Director of their office in Mauritius which offers International Fiduciary Services especially targeted at Africa and Asia clients.

The majority of Mr Main’s experience has been spent dealing with The Far East developing a

wide range of financial services before founding the company. He studied at INSEAD and is a Member of the Securities Institute. He also sits as a Non Executive on several private fund boards on behalf of a number of Asian families. In the past he has been a member of the British Bankers Association working group to advise on Hedge Funds.

He also serves in various capacities with the Alternate Investment Management Association. He Chairs the Next Generation Managers Group which supports the development of Independent Fund Managers starting out and developing the business. He is a founder member of the Sound Practices Committee and is also on the Markets Regulation Standing Committee. He contributed to the production of the recently published Sound Practices for Fund Board Directors and the development of a DDQ for Non-Executive Fund Directors which was published earlier this year

Louis de Montpellier

Louis de Montpellier

Senior Managing Director, Global Head Official Institutions Group
State Street

Louis de Montpellier is a Senior Managing Director and the Global Head of the Official Institutions Group of State Street Global Advisors (SSGA), the investment management arm of State Street Corporation and a global leader in asset management. He also has Senior Responsibility for Client Coverage and Product Distribution in the Middle East. He is a member of several SSGA Executive and Management Committees, including the Global Investment Committee, the Executive Committee for the EMEA region and the Senior Leadership Team.

He joined SSGA in 2013. His international finance career has included both official sector and private sector positions. Prior to his current role at SSGA, he was for eight years the Deputy Head of the Banking Department of the Bank for International Settlements in Switzerland, one of the ten Senior Officials of the Bank and a member of its Management and Finance Committees. Before that, he was successively Director of Funding at the European Bank for Reconstruction and Development (EBRD) in London and Executive Director of the National Debt Agency of Belgium in Brussels. He has previously worked for two investment banks in London, Credit Suisse First Boston and Morgan Stanley, where he was responsible for Business Origination of Capital Market Operations with Sovereign and other public sector entities in Europe.

He is a Deputy Chairman of the Advisory Board of the Official Monetary and Financial Institutions Forum (OMFIF). He is a regular writer and commentator on sovereign wealth and other issues related to the financial management of the official sector.

He has an MA from the University of Leuven (Belgium), an MA in Economics from the University of Louvain (Belgium) and an MBA from the Johnson Graduate School of Management, Cornell University (USA).

Louis  Gargour

Louis Gargour

Chief Investment Officer
LNG Capital

Louis Gargour established LNG Capital in 2006, as founding partner, where he is currently CIO, and a member of its Investment Committee. Mr Gargour was the Senior Portfolio Manager of the RAB European High Yield Fund and Director of Fixed Income. Mr Gargour took responsibility for running RAB Capitals fixed income division and grew the business to 1 billion in AUM, at which point RAB Capital listed on the London Stock Exchange.  During his tenure at RAB Capital, the Fund performed in the top quartile of European credit funds universe.  In 1999 he founded Taurus Investment Management, a hedge fund which he merged with RAB Capital in 2001.  He began his career on Wall Street in 1985 with Salomon Brothers in NY, and progressed his career as Vice President and Head of High Yield/Credit (Switzerland) at JP Morgan and Executive Director and Head of High Yield/Credit (Switzerland) at Goldman Sachs. Mr Gargour is a frequent contributor to the Wall Street Journal, The Financial Times, Barron’s, CNBC and a variety of other business press and programmes. He is a mentor for the Princes Trust charity, and a contributor to a number of global charities. Mr Gargour holds a BSc degree from Georgetown University, an MBA from the London Business School. He is fluent in French, and speaks Italian & German.

Steven Major

Steven Major

Global Head of Fixed Income Research
HSBC

Steven is the Global Head of Fixed Income Research at HSBC. He leads a team of analysts that includes specialists covering credit and rates in both developed and emerging markets. He joined HSBC in 2001 and has more than 25 years of experience in fixed income research. In the 2015 Euromoney survey, the team ranked #1 for Sovereigns. He holds a BA (Hons) and the CFA charter.

David Zahn

David Zahn

Head of European Fixed Income
Franklin Templeton

David Zahn, Head of European Fixed Income and Senior Vice President within Franklin Templeton's Fixed Income Group. Mr Zahn leads the management of European Fixed Income Strategies and is a member of the Fixed Income Policy Committee. He is also a Portfolio Manager for a number of Global Aggregate and Global Government fixed income portfolios.

Prior to joining Franklin Templeton in 2006, Mr Zahn was a Senior Portfolio Manager at Citigroup Asset Management.

Mr Zahn holds a BS in Business Administration from the University of Maine and an MBA in Finance from the University of Connecticut. He is a Chartered Financial Analyst (CFA) Charter Holder and is a qualified Financial Risk Manager (FRM).

Eric Brard

Eric Brard

Global Head of Fixed Income
Amundi

Eric Brard has been Global Head of Fixed Income at Amundi and a member of the Executive Committee since January 2011. Fixed income investments represent more than 60 per cent of Amundi’s €940 bn of assets under management.

Mr Brard’s previous role was at Societe Generale Asset Management, which he joined in 2000. He headed up the Fixed Income department when SGAM and CAAM merged to create Amundi. Prior to this he was Head of Euro Fixed Income at Indocam, having joined Indosuez AM in 1990 before it became Indocam in 1997. Mr Brard began his career in 1985 as a primary market bond dealer for L’Européenne de Banque. He graduated in Economics and holds a postgraduate degree in Finance from Sorbonne University.

John Porter

John Porter

Global Head of Fixed Income and Structured Finance
AXA IM

John Porter became Global Head of Fixed Income at AXA Investment Managers in November 2013. He is a member of AXA IM's Management Board.

Mr Porter was previously Managing Director and Global Head of Portfolio and Liquidity Management at Barclays, joining in 1998. He was Chief Economist and Principal at Summit Capital Advisers, performing macro-economic analysis and developing investment strategies in North America, Europe and Japan. From 1993 to 1996, he was Director and Principal at Moore Capital Management in Paris, managing the Paris subsidiary as well as running a portion of the firm's fixed income fund and advising the general investment portfolio on strategic positioning in global credit markets. Prior to this, he spent 10 years at the World Bank. He worked as a Senior Economist designing structural adjustment loans, before moving to join the Investment Department and in 1990 was named Chief Investment Officer responsible for managing a portion of their USD20b global fixed income portfolio.

John has an MA in International Economics and Certificate in European Studies from Columbia University (1983), a Doctorate in Psychology from the Sorbonne (1980), attended the Ecole Normale Superieure (1976-1979) and has a BA in Psychology and Social Relations from Harvard (1976).

Pietro Poletto

Pietro Poletto

Head of Fixed Income, ETPs and Securitised Derivatives
London Stock Exchange Group
Jean-Marc Mercier

Jean-Marc Mercier

Co-Head Debt Capital Markets
HSBC Bank

Currently Global Co-head of Debt Capital Markets, he was previously Global Head of Debt and continues to run syndicated loans globally.

He has played a key role in establishing HSBC's market-leading DCM position across Developed and Emerging Markets, IG and High Yield, Hybrid Capital, Public Sector and Local Currencies. He has 17 years experience in Debt Capital Markets, working equally in Paris and London, having joined HSBC in 2000 from CCF (Credit Commercial de France). 

He started as a Trader in 1987 at Banque Indosuez, in London and Paris, before joining Paris-based CCF. He graduated from French business school ESSEC in 1986, completed a Master’s Degree in Finance at Paris Dauphine University, and is an Associate Member of SFAF (French Financial Analysts society).

Kris A Kowal

Kris A Kowal

Managing Director, Fixed Income Investments
Dupont Capital Management

Krzysztof (Kris) A Kowal, Managing Director, Asset Allocation and Fixed Income Investments, oversees DuPont Capital’s risk management, strategic and tactical asset allocation, and is responsible for DuPont Capital’s global fixed income portfolios including Core, Core Plus, High Yield, International Developed and Emerging Markets, and Stable Value funds. Since joining DuPont Capital in 1996, Mr. Kowal has served as the Senior Portfolio Manager for global asset allocation, total return portfolios, interest rate strategies, emerging markets debt, and fixed income analytics.

Mr Kowal is a member of the CFA Society of Philadelphia, and a member of the CFA Institute.

Mr Kowal holds a PhD in Materials Science and Engineering from the University of Pennsylvania, an MS in Physics from Jagiellonian University in Krakow and is a CFA charter holder.

Colin Ellis

Colin Ellis

Chief Credit Officer
Moody's Investors Services

Colin Ellis is Moody’s Chief Credit Officer in EMEA. Mr Ellis is responsible for the quality and consistency of Moody’s credit standards, and the methodologies which underlie them, across all franchises within the region.

He joined Moody’s in 2012, initially working in Credit Policy to lead the work of the Macroeconomic Board and Author the quarterly Global Macro Outlook. He subsequently worked in the Financial Institutions Group, developing quantitative forward-looking analyses of sectors and institutions, including modelling asset trends and stress testing.

Previously he has worked at the Bank of England, Daiwa Capital Markets and the BVCA. He is a Visiting Research Fellow in the Economics department at Birmingham University, and has published on topics ranging from investment and pricing to private equity and data uncertainty. He is also a Fellow of the RSA.

He holds degrees from York University, the London School of Economics and Political Science, and Middlesex University.

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Chairs and Moderators (4)

Patrick Jenkins

Patrick Jenkins

Financial Editor
Financial Times

Patrick Jenkins has been Financial Editor and Assistant Editor at the Financial Times since 2014. In this role, he shapes the FT’s overall financial coverage, with a focus on financial services and investment. He works closely with the editors of Markets, Lex, FT Money, FTfm and the financial services team. He also contributes to leader writing and comment, while continuing to write for the Inside Finance column.

Previously, Mr Jenkins was Banking Editor from 2009 until 2014, leading the 10-strong global financial services reporting team. Prior to this he was Companies Editor, and before that Editor of International Company News. Prior to taking up this post, Mr Jenkins spent four years in Germany as Frankfurt Correspondent for the FT. He joined the FT Group in 1996 editing the newsletter FT world insurance report, before becoming a UK companies reporter in 2000.

Dan McCrum

Dan McCrum

FT Alphaville Editor
Financial Times

Dan McCrum is the editor of FT Alphaville. In more than a decade at the FT he’s been Capital Markets Editor, Investment Correspondent in New York, and had stints writing for Alphaville and the Lex Column.
Before that Dan worked briefly at the Investors Chronicle, and has at one point or another carried furniture, sold kids books on doorsteps, and painted but not really decorated.
He also spent four years loitering in Citigroup’s equity research department where he picked up a few ideas about the value of luck, timing and a catchy pitch.

Stefania Palma

Stefania Palma

Singapore Correspondent
Financial Times

Stefania Palma is the Financial Times’ Singapore correspondent covering the city-state, Malaysia and Indonesia. Travelling extensively across these markets, she reports on local economics, politics, finance and social issues. Prior to joining the FT, Stefania was Asia Editor at The Banker magazine, of the FT group. In that role, she reported from across Asia-Pacific interviewing finance ministers, central bank governors, bank CEOs and economists. Her reporting took her to all corners of the region, from China to India, Bangladesh, Mongolia, Nepal, Brunei, Indonesia, South Korea, Japan and the Philippines, among others. She read for a MPhil in Modern Chinese Studies at the University of Oxford, during which she completed archival research and a language exchange at Peking University. She has a bachelor's degree in Economics from the School of Oriental and African Studies, UK, where she first started studying Mandarin Chinese.

Michael	 McKenzie

Michael McKenzie

Markets Editor
Financial Times
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Agenda - 10th Feb

  • 8:30am
    Registration
  • 9:00am
    Opening by FT Chairpersons

    Patrick Jenkins, Financial Editor, Financial Times
    Dan McCrum, Capital Markets Editor, Financial Times

  • 9:05am
    Opening Keynote Address: Financial Stability: Vulnerabilities, Challenges and Enhancements

    José Viñals, Financial Counsellor and Director of the Monetary and Capital Markets Department, IMF

  • 9:45am
    The Realities of Monetary Stimulus Programmes
    • Global growth and the efficacy of stimulus efforts
    • How are post-crisis regulations impairing debt markets
    • A look back at 2015 predictions
    • Will market distortions continue?

    David W Rolley, Vice President, Portfolio Manager & Co-Team Leader Global Fixed Income Group, Loomis, Sayles & Company

    Louis de Montpellier, Senior Managing Director, Global Head Official Institutions Group, State Street 

    Steven Major, Global Head, Fixed Income Research, HSBC Bank

    Moderator: Patrick Jenkins, Financial Editor, Financial Times

  • 10:30am
    Fireside Chat: Debt Capital Markets in The Great Distortion Era

    Jim Probert, Head of Global Capital Markets, Bank of America Merrill Lynch

    Interview by Patrick Jenkins, Financial Editor, Financial Times

  • 11:00am
    Networking Coffee Break
  • 11:30am
    Featured Presentation: Banking on Reform, a policy outlook

    Steffen Kern, Chief Economist and Head of Financial Stability, European Securities and Markets Authority (ESMA)

  • 12:00pm
    Market Liquidity
    • Urgent steps by regulators and central banks to ensure continued market liquidity
    • Micro and macroprudential frameworks to enhance oversight of liquidity
    • Debt issuance as liquidity events
    • Effect on governments of rising borrowing costs

    Sumit Jamuar, Chief Executive Officer, State Bank of India Capital UK

    Markus Stadlmann, Chief Investment Officer, Lloyds Banking Group

    Cosimo Marasciulo, Senior Vice President - Head of European Government Bonds, Pioneer Investments

    Moderator: Michael McKenzie, Markets Editor, Financial Times 

  • 12:45pm
    Networking Lunch
  • 1:45pm
    The Hunt for Yield
    • Implications of uncertainty in the Eurozone
    • Emerging innovations in the yield drought: new products, new regions
    • Developing a liquidity and funding risk appetite: how to keep investors interested
    • Bond index alternatives - finding smarter beta in bonds

    Louis Gargour, Chief Investment Officer, LNG Capital

    John Porter, Global Head of Fixed Income and Structured Finance, AXA IM

    Pietro Poletto, Head of Fixed Income, ETPs and Securitised Derivatives, London Stock Exchange Group 

    Erik Vynckier, Board Member, Foresters Friendly Society

    Moderator: Dan McCrum, Capital Markets Editor, Financial Times

  • 2:30pm
    Spotlight on Asia
    • Solutions in risk return management
    • Sustainability of debt
    • Benchmarking Asia to the other markets
    • Diverging global monetary policies and the impact on China’s debt issuance

    Monish Mahurkar, Director, Treasury Market Operations, IFC

    Andrew Main, Senior Advisor, Adamas Asset Management Hong Kong

    Jean-Marc Mercier, Co-Head Debt Capital Markets, HSBC Bank 

    Moderator: Stefania Palma, Asia Editor, The Banker

  • 3:15pm
    Coffee Break
  • 3:45pm
    Re-defining the new normal
    • Capital creation in a low interest rate, low return environment
    • Is an overhaul of banking business model needed?
    • How to generate capital when longer holds are required
    • Fixed income ETFs - impact on interest rate volatility 
    • Performance of long term debt 

    Eric Brard, Global Head of Fixed Income, Amundi

    David Zahn, Head of European Fixed Income, Franklin Templeton

    Michala Marcussen, Global Head of Economics, Societe Generale

    Colin Ellis, Chief Credit Officer, Moody's Investors Services

    Moderator: Michael McKenzie, Markets Editor, Financial Times 

     

  • 4:30pm
    Closing Keynote: The Year Ahead

    Claudio Borio, Head of the Monetary and Economic Department, Bank for International Settlements

  • 5:00pm
    Closing remarks by FT Chair, followed by closing reception

Key Topics

Key themes to address:

  • Evolution of the market in the past 6 months and what to expect in the next 6 months
  • Divergence of monetary policies and the impact on bond markets
  • Mitigating the potential consequences of high public debt
  • The role of bonds and the CMU to facilitate private sector access to financing
  • New pools of liquidity
  • Outlook of credit spreads
  • Inflation vs deflation
  • Corporate strategies for dealing with the new normal
  • Reversal of rates and the impact on the high yield markets
  • How banks can rebuild their balance sheets
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Who Attends

'FT Debt Capital Markets Outlook' has been produced to meet the needs of senior banking and finance professionals, specifically:

  • Heads of Debt Capital Markets
  • Heads of Funding
  • Heads of Fixed Income
  • Heads of Bond Origination
  • Senior Portfolio Managers
  • CFOs, Treasurers and Finance Directors
  • Debt Capital Market Bankers
  • Sovereign Borrowers

Register now to join them.

A limited number of paying places, priced at £599 + VAT per delegate, will be made available to senior representatives, economists or analysts of professional service firms, asset managers, ratings agencies, hedge funds, trading platforms and business consultancies.

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Venue

Hilton London Bankside
2 – 8 Great Suffolk Street
London SE1 0UG
Tel: 44-020-36675600

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Lead Sponsor (1)

Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 48 million consumer and small business relationships with approximately 4,800 retail financial centers, approximately 16,000 ATMs, and award-winning online banking with 31 million active users and approximately 18 million mobile users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in all 50 states, the District of Columbia, the U.S. Virgin Islands, Puerto Rico and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

Associate Sponsors (3)

London Stock Exchange Group (LSE.L) is a diversified international exchange Group that sits at the heart of the world's financial community. The Group can trace its history back to 1801.

The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and the pan-European equities platform, Turquoise. Through its markets, the Group offers international business, and investors, unrivalled access to Europe's capital markets.

HSBC is one of the world's largest banking and financial services organisations. With around 4,400 offices in both established and emerging markets, we aim to be where the growth is, connecting customers to opportunities, enabling businesses to thrive and economies to prosper, and, ultimately, helping people to fulfil their hopes and realise their ambitions.

We serve around 48 million customers through our four Global Businesses: Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking. Our network covers 72 countries and territories in Europe, Asia, the Middle East and Africa, North America and Latin America.

Listed on the London, Hong Kong, New York, Paris and Bermuda stock exchanges, shares in HSBC Holdings plc are held by about 213,000 shareholders in 131 countries and territories.

Misys is at the forefront of the financial software industry, providing the broadest portfolio of banking, capital markets, investment management and risk solutions available on the market. With more than 2,000 customers in 130 countries our team of domain experts, combined with our partner eco-system, have an unparalleled ability to address industry requirements at both a global and local level. We connect systems, collect data and create intelligent information to drive smarter business decisions. To learn more about how our Fusion software portfolio can deliver a holistic view of your operations, and help you to solve your most complex challenges, please visit:

FT Debt Capital Markets 2015

Details of 'FT Debt Capital Markets Outlook 2015' can be found HERE

The 'FT Debt Capital Markets Outlook' brought together investors, central bankers, fund managers, primary dealers, issuers, market strategists and industry thought leaders to explore and debate the outlook for debt capital markets, and ask, “what is the new normal and the role of central banks in all of this?”

The event was well very received by attendees.  Feedback included:

  • A good ensemble of speakers in an ideal conference location which provided tasty food (Robert DYAS Holding Ltd)
  • To the point speakers, intelligent conversations, exchange of ideas : this is the place (Swiss Federation of SME)
  • I found the topics very interesting. I attend a lot of events for loan markets specialists but often the press is too much and companies issuers not enough. This is much better! (D2 Bank)
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Contacts

Funmbi Adenubi
Delegate Booking and Registration Enquiries
Financial Times
Rachelle Young
Speaking Opportunities
Financial Times
Jennifer Seeto
Marketing and Media Partner Enquiries
Financial Times Live
Toby Saunders
Sponsorship Opportunities
Financial Times

Why Sponsor?

Returning for its second year, FT Debt Capital Markets will bring together over 200 Investors, Central bankers, Fund Managers, Primary Dealers, Issuers, Market Strategists and industry leaders to explore and debate the outlook for debt capital markets. 

  • Gain access to decision makers with the power to influence both business strategy and public policy;
  • Brand alignment with the FT and its unrivalled credibility;
  • Demonstrate leadership in the big issues facing Europe today;
  • Benefit from sustained international visibility through our advertising and marketing campaigns.

Email laurence.james@ft.com for more information.

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