Hosted under the Chatham House rule, the FT Future of Dealmaking half-day summit will bring together corporate dealmakers and strategy leaders, private equity representatives, consultants, lawyers and investment bankers and facilitate honest discussions regarding the opportunities and challenges for deal leaders in a prolonged period of uncertainty.
FT Future of Dealmaking
Creating opportunity in uncertainty
Matthias Boyer Chammard
Fuelled by a flurry of US mega-deals, global deal value in the first half of the year reached $2tn - the third-highest number on record according to Refinitiv research. Yet the same data suggests European deal value has fallen by 57% with cross-border transactions declining significantly, demonstrating hesitancy amongst dealmakers amid a prolonged period of uncertainty.
But with uncertainty comes opportunity; corporate consolidation and restructuring are on the rise offering revenue for sellers and new potentially lucrative targets for buyers. Equally, strategic acquisitions, joint ventures, partnerships and licensing arrangements are enabling organisations to accelerate growth in an otherwise stagnant market, as well as reducing risk through the diversification of products and services.
With the prospect of a global economic downturn in coming months, how will the climate for deals fare in the year ahead? How can corporate leaders and dealmakers navigate uncertainty, embrace ‘disruption’ and achieve their long-term strategic ambitions through a new approach to dealmaking?
Agenda - 7th Nov
8:15amNetworking and Refreshments
9:00amChair’s Opening Remarks
Javier Espinoza, EU Correspondent and Former Private Equity Correspondent, Financial Times
9:10amKeynote Panel: The Economic, Business and Regulatory Climate for Deals
A prolonged period of macroeconomic and geopolitical volatility, together with the reality of weakening global growth global has contributed to dealmaking activity hitting its slowest pace in more than two years. But uncertainty brings opportunity and with distressed assets readily available and liquidity high, the rewards for opportunist dealmakers are considerable. Moreover, in an unpredictable business climate the diversification of products and services can be a valuable strategy to reduce risk. Is the next wave of transformative deals on the horizon?
- To what extent will the prospect of an economic downturn influence dealmaking?
- What does Brexit uncertainty mean for dealmakers? How will new UK regulation co-exist with existing EU Regulation?
- Is the de-globalisation of dealmaking set to continue? What will the future of global dealmaking look like in a period of protectionism and anti-trust?
Which sectors and regions are set to see most activity in the year ahead? Will sector convergence and the growth of technology-led business models continue to drive activity?
- What potential mega-mergers may be on the cards for 2020?
Andrea Coscelli, CEO, Competition and Markets Authority (CMA)
Arnab Das, Global Market Strategist EMEA, Invesco
Scott Moeller, Director and Founder- M&A Research Centre, Cass Business School
Imogen Richards, Partner and Global Head of Investment Structuring Strategy, Pantheon’s Global Investment Team, Pantheon
Martin Saywell, Partner, Latham & Watkins
Moderator: Javier Espinoza, EU Correspondent and Former Private Equity Correspondent, Financial Times
10:00amFT Interview: The Investor Perspective
Shareholder Activism and M&A
Harlan Zimmerman, Senior Partner, Cevian Capital
10:20amPanel: Beyond M&A- Exploring the changing nature of deals
In a dynamic and unpredictable business climate, deals are no longer solely driven by the requirement to upscale; the need to create new business models, develop new digital capabilities and reach new markets is compelling organisations to consider new ways to invest and collaborate. Increasingly, joint ventures (JVS), partnerships, minority stakes and licencing are offering new strategic advantages over more traditional approaches to M&A.
- How are new contracts lessening risk and generating competitive advantage in what remains an uncertain business climate?
- How can investing in new ways enable organisations to better respond to market trends?
- How can businesses overcome the operational and cultural challenges associated with shared decision making to generate the best results from deals?
- How can leveraging expertise, resources and knowledge result in long-term profitability and better resilience?
Jon Koplin, Managing Director EMEAR Cisco Investments and Corporate Development, Cisco
Kirstie Maydew, M&A Director, Coca-Cola European Partners
Helena Svancar, Head of M&A, Ericsson
Jonathan Guthrie, Associate Editor and Head of Lex, Financial Times
Table 1 Tackling shareholder activism: How can organisations respond to increased shareholder pressure? Richard Butterwick, Partner, Latham & Watkins
Table 2 Dealmaking in an era of protectionism and anti-trust: How will changing regulation and geopolitical tensions affect the future of cross-border transactions? Scott Moeller, Director and Founder- M&A Research Centre, Cass Business School
Table 3 M&A and innovation: What new opportunities are there to fast track innovation through the acquisition of technology? How can organisations predict and prepare for the potential integration and security challenges? Robbie McLaren, Partner, Latham and Watkins
Table 4 Exploring the impact of new technologies on deals: How can organisations better predict disruption and use innovative, technology-based processes to generate greater value from deals? Rob Moody, Partner & Chief Innovation Officer, EMEIA Transaction Advisory Services, EY and Viv Sedov, Director, Transaction Advisory Services, EY
Table 5 People and Change
Table 6 Brexit and Dealmaking: How Can Dealmakers navigate the storm? Gbolahan Ladipo, Executive Director- Mergers & Acquisitions, Nomura
Table 7 Purpose and Value: Karl Havers, Partner, Long Term Value and Technology Sector Leader and Matt Robb, Partner, EY Parthenon
Enda Johnson, Group Corporate Development Director, CYBG/Virgin Money
Interviewed by: Stephen Morris, European Banking Correspondent, Financial Times
Hear from Clydesdale and Yorkshire Bank on the recent $1.7bllion merger with Virgin Money which unites the UK’s two largest challenger banks.
12:40pmPanel- Inside the deal: Building value
In a high-risk, low growth environment, ensuring that the full potential from investments or divestments are realised is crucial. But all too often opportunities to create value are missed with operational, organisational and structural issues presenting roadblocks to growth.
- What opportunities are there for value optimisation throughout the deal cycle?
- How can organisations best harness business and cultural synergies to enable a more seamless integration post-merger?
- How can digitisation help generate greater transformative value from deals?
- What lessons can be learnt from the numerous examples of deals gone wrong?
Lisa Ashe, Partner, Transaction Advisory Services, EY
Matthias Boyer Chammard, Managing Director Private Equity- London, Bain Capital
Henryk Feszcur, Head of Acquisition and Divestment Execution, GSK
Karen Harte, Global Head of M&A Integration, Dentsu Aegis Network
Emilio Zito, Head of M&A and Special Projects, EDF
Moderator: Javier Espinoza, EU Correspondent and Former Private Equity Correspondent, Financial Times
1:25pmChair’s Closing Remarks
Javier Espinoza, EU Correspondent and Former Private Equity Correspondent, Financial Times
1:30pmNetworking and Lunch
Matthias Boyer Chammard
Matthias Boyer Chammard joined Bain Capital Private Equity in 2011. He is a Managing Director in the Consumer and Industrial Verticals and also has coverage responsibility for the French market. Matthias currently serves on the board of Consolis and MKM building supplies. His prior board memberships include Ibstock, Maisons du Monde and Brakes Bros. Prior to joining Bain Capital Private Equity, Matthias was a Principal at BCG in the Paris office. While at BCG, he was a lecturer in Energy and Environment at the MPA of Science Po Paris. Matthias received an MS at Ecole Polytechnique and an MPA from Harvard University.
Henryk Feszczur has worked in Technology (IT) for over 30 years, covering acquisition and divestment work from an IT angle. Henryk then moved into the deal integration and separation space where he has worked for the last 8 years focussing on the execution of transactions ensuring they go live on time, on budget and on contract. Integration work can continue for several months beyond completion. He has spent 25 years in GSK in both the Pharmaceuticals (including Vaccines) and Consumer Healthcare and has been involved in over 50 transactions (buy, sell and JV). Highlights include the three-way transaction of GSK and Novartis and more recently work on the creation of the GSK and Pfizer Consumer Healthcare JV and the GSK purchase of TESARO Biotech.
Enda Johnson joined the Group in 2015 and is responsible for leading Strategy and Corporate Finance activity across the Group. Before joining the Group, Enda worked at Allied Irish Banks, where he was Head of Corporate Affairs and Strategy. Prior to this, Enda worked at the Irish National Treasury Management Agency, where he worked on the recapitalisation and restructure of Irish banks following the global financial crisis. Enda also held a number of roles with Merrill Lynch in their investment bank and equity capital markets divisions in California, New York and London.
Andrea Coscelli has been the Chief Executive of the Competition & Markets Authority (CMA) since July 2016. He joined the CMA in November 2013 as the executive board member heading the Directorate responsible for UK merger control, the markets regime and the CMA’s work in regulated sectors. He joined the CMA from Ofcom (UK Communications Regulator) where he was a Director of Economic Analysis. He previously worked at Charles Rivers Associates (CRA) in London where he was a Vice President (Partner) in the Competition Practice. He co-founded the Association of Competition Economics (ACE) in 2003. He holds a PhD in Economics from Stanford University.
Helena Svancar is currently the Head of M&A at Ericsson and responsible for the company’s M&A strategy, integration/separation activities as well as the corporate ventures business. Helena Svancar has advised on and executed transactions across a variety of industries throughout her career. Prior to joining Ericsson in early 2018, she spent 18 years in investment banking, the prior ten years with Deutsche Bank in London where she was Head of Corporate Finance, Nordic Region. Her other professional experience includes, Rothschild and SEB Enskilda. Helena Svancar holds an MSc in Business and Economics with a Major in Finance from the Stockholm School of Economics and a CEMS Master in International Management from the University of St Gallen.
Arnab Das is Global Market Strategist in the EMEA region, based in London, and a member of Invesco’s Global Thought Leadership team. He helps develop and communicate analysis and insight on the global economy and financial markets across asset classes for clients, media, governments and central banks. He works with Invesco’s investment teams across disciplines and regions and is a member of Invesco’s Global Investor Forum Advisory Council with a focus on global macro and emerging markets. Arnab’s research interests span economic policy, performance and reform; and economic and financial history.
Arnab joined Invesco in 2015 as Head of EM macro research for Invesco Fixed Income. He began his career in finance in 1992, and has served as Co-head of Economic Research & Strategy at Roubini Global Economics; Co-head of Global Economics & Strategy, Head of Global FX Research, and Head of EM Economics & Strategy at Dresdner Kleinwort; and Head of EEMEA Research at JP Morgan. He has also been a private consultant in global and emerging markets, as well as consulting with Trusted Sources, a specialist EM research boutique.
Arnab’s studies were in macroeconomics, economic history and international political economy. He received an AB from Princeton University in 1986 and completed his postgraduate and doctoral work at the London School of Economics in 1987-1992.
Karen Harte is Global Head of M&A Integration for highly acquisitive marketing services group, Dentsu Inc. Karen and her team, work with Dentsu’s management teams in various countries around the world to unlock maximum value from every acquisition. Karen’s experience of well over 100 acquisitions spans the M&A lifecycle of deal origination, negotiation, execution and integration. She joined Dentsu 10 years ago as Global Head of M&A before creating her current role because she passionately believed that establishing a focused post-merger integration programme at Dentsu would deliver significant additional value. Prior to joining Dentsu, Karen was Business Development Director at GSK Consumer Healthcare where she oversaw various strategic growth initiatives and she also spent nine years at Deloitte Corporate Finance Advisory.
Jon Koplin joined Cisco Investments in 2017 and leads the EMEA team responsible for investments, joint ventures, and acquisitions. Previous to Cisco, Jon worked as an early-stage technology investor with European family offices. Before moving into the investment arena, Jon held senior operating roles at Google and Samsung in Europe and Asia. Early in his career, Jon worked in Silicon Valley and in startups and was part of the management team of NetBeans (acquired by Sun Microsystems).
Kirstie Maydew is M&A Director of Coca-Cola European Partners, the world’s largest independent Coca-Cola bottler by revenue and a major fast-moving consumer goods business in Europe. Kirstie and her team work with local management teams across CCEP’s 13 territories and alongside the cross-market functional teams to identify opportunities where M&A (in its broadest sense) can make a positive value impact. One element of this is CCEP’s innovation venture fund, CCEP Ventures, recently launched to invest in companies which offer the potential to create the competitive advantage of the future: through finding, funding and fostering new solutions and to scale these solutions with speed.
Scott Moeller is the director and founder of the M&A Research Centre at Cass Business School where he also Professor in the Practice of Finance. Scott is widely published as an author or co-author, including Why Deals Fail & How to Rescue Them: M&A Lessons for Deal Success (in The Economist business book series, published in September 2016), Surviving M&A: Making the Most of Your Company Being Acquired (John Wiley, 2009), the award-winning Intelligent M&A: Navigating the Mergers and Acquisitions Minefield (second edition, John Wiley, 2014). Prior to his teaching and research, Scott was at Deutsche Bank in London for 6 years in several senior banking positions. He worked first at Booz Allen Hamilton management consultants for over five years and then at Morgan Stanley for over 12 years in New York, Japan, and then as co-manager of Morgan Stanley in Germany. He currently sits on the board of several companies in Europe and the UK as a non-executive director. Scott is a graduate of Yale College (BA with honours), the Yale Graduate School (MA) and the Yale Management School (MBA).
Imogen Richards is a Partner and Global Head of Investment Structuring and Strategy in Pantheon’s Global Investment team with 18 years of private equity experience. She is also closely involved in key strategic and corporate development projects. Imogen joined Pantheon from Anglo Irish Bank in Dublin and holds a MA in natural sciences from Cambridge University.
Martin Saywell is a partner in Latham & Watkins' London office and a member of the firm's Executive Committee. He is an English solicitor whose practice focuses on private equity, public and private mergers and acquisitions, and restructurings.
Lisa Ashe is a partner in the EY Transaction Advisory Services practice in London. She has over 20 years’ experience advising companies and their stakeholders on financial and operational turnarounds and restructurings. Her key areas of expertise include driving value out of businesses through strong liquidity management, cost reduction, business plan development and transforming finance functions to become better business partners. Lisa’s experience spans various industries from consumer products, retail, manufacturing, media to telecoms and she has worked across Europe, Asia and the US. Her clients have included multiple private equity funds and prior to joining EY four years ago, Lisa was a Managing Director at AlixPartners.
Harlan Zimmerman is a Senior Partner of Cevian Capital, with responsibilities across investment, engagement and business matters of the firm. He has lived in London since 1992 and has worked with Cevian since 2003.
Cevian is Europe’s largest dedicated activist manager, and one of the largest in the world, with c. $14 billion dedicated to constructive activist investing in listed European companies. Cevian is long-only and has an investment horizon of 3-5 years. In many cases it plays the role of “anchor investor,” and team members frequently join company boards.
Jonathan Guthrie is the head of Lex, the Financial Times’s agenda-setting premium commentary service on companies and investment, and an associate editor of the FT. For six years he was City editor and writer of Lombard, an irreverent column on the Square Mile and corporate Britain. He has led investigations into Eurasian Natural Resources Corp, British Biotech and the “Gem of Tanzania” accounting fraud. Aside from Lex, he contributes regularly to House and Home and occasionally to FT Companies.
Javier Espinoza has recently taken on the role as EU Correspondent in Brussels for the FT, focussing his coverage mainly on competition and technology issues. Prior to this Javier Espinoza served as the FT's Private Equity Correspondent. Before joining the FT he was the Daily Telegraph's Education Editor, as well as a multimedia Reporter for the Wall Street Journal in London. Prior to joining the Wall Street Journal, he worked at the Observer newspaper in London. He studied journalism at City University. He is also a Political Economist having completed a second Master's degree at King's College London.
Stephen Morris is the Financial Times' European Banking Correspondent. He joined the FT in August 2018 after eight years with Bloomberg News, where he was UK Banks Reporter. Prior to that, he covered politics for the Independent. He studied at Durham and Cambridge universities, where he read history.
Who Will You Meet
Corporate dealmakers and senior strategy leaders from a wide variety of well-known companies and organisations have already signed up including:
AIG, BP, Anglo American, Ericsson, Sobi, Associated British Ports, Latham & Watkins, Clydesdale and Yorkshire Bank, GB Group Plc, Halma plc, NMC Health Plc, Tate Gallery, Spin Ventures, Cisco, Delphi Technologies, GlaxoSmithKline, IBM, IWG, Merian Global Investors, NVIDIA Corp, Sony Pictures Television, Discovery Inc., American Express, Invesco, Legal & General Investment Management, Ocado Group, Sky, Canopius, GTT, Centrica, DCC, ITV, London Stock Exchange Group, Compass Group, RBS, Domestic & General, Pantheon, EDF, Orsted, CBRE, Drax Group plc , Phoenix Group, Competition and Markets Authority (CMA), Spectris plc, Gazprom, SPI Group, EY , GE, Gerald Group, Hammerson plc, Kering, Kodak Alaris, TPG Europe, Visa, DiscoverIE Group, Dentsu Aegis Network, Co-op, Shell International Petroleum Co, Engie, Ping Petroleum Limited, Aon, Coca-Cola European Partners, Experian, British American Tobacco, VEON Ltd., BAE Systems , The Weir Group, Zalando SE, Equifax, Bain Capital Private Equity, Willis Towers Watson and many more.
Corporate dealmakers and senior strategy leaders from a wide variety of well-known companies and organisations.
Attendees are from the below sectors:
Retail & Consumer Goods – Basic Resources & Utility – Energy – Healthcare – Real Estate – Automotive and Infrastructure – Travel & Leisure – Telecommunications – Professional Services & Law Firms – Technology & Innovation – Banking & Private Equity – Financial Services & Fintech
- Hear from senior corporate leaders, not often featured at public forums, on the key learnings from recent high-profile mergers and acquisitions
- Hosted under the Chatham House rule the summit will encourage candid discussions from senior dealmakers regarding opportunities and challenges in the year ahead
- Leveraging FT editorial expertise the event will consider how bigger picture trends will influence corporate strategy
- Expert-led roundtable discussions will enable a unique opportunity to network with other senior strategy leaders and dealmakers to consider how to find new opportunities to generate value
NETWORKING & ATTENDEE DIRECTORY
We will have dedicated networking opportunities available at the event, such as an event app. 2 weeks out from event day you'll be able to:
- View the full list of registered attendees including speakers*
- Search for individuals and companies and connect and exchange messages with other registrants directly
- Organise meetings with other like-minded peers, in advance
*Only attendees that opt into sharing their attendance and availability (on their registration form) will be included in the list.
|Ticket Type||Fee (£)|
Super Early Bird Ticket (valid until 31 August 2019)
Early Bird Ticket (valid until 30 September 2019)
Standard Summit Ticket
If you received a personal VIP invitation please click the custom registration link on your invite, which will direct you to the VIP registration page. Alternatively please click the register now button on our website and click 'Apply Now' under the VIP ticket section.
Presented By (1)
The Financial Times is one of the world’s leading business news organisations, recognised internationally for its authority, integrity and accuracy. Providing essential news, comment, data and analysis for the global business community, the FT has a combined paid print and digital circulation of 840,000. Mobile is an increasingly important channel for the FT, driving more than half of total traffic.
Founding Sponsor (1)
Latham & Watkins is a global law firm with more than 2,700 lawyers around the world. The firm has internationally recognised practices across a wide spectrum of transactional, litigation and trial, and regulatory areas spanning the major sectors driving the global economy.
Latham’s M&A team has extensive experience advising on transformative cross-border M&A, domestic public takeovers, and private sale processes as well as counselling boards on corporate governance issues and shareholder activism. In 2018, the firm’s lawyers handled more than US$618 billion in announced mergers and acquisitions transactions worldwide, representing principal entities or financial advisors in more than 500 public and private transactions.
Find out more at www.lw.com/MnA
Lead Sponsor (1)
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
How you manage your capital agenda today will define your competitive position tomorrow. We work with clients to create social and economic value by helping them make better, more-informed decisions about strategically managing capital and transactions in fast-changing markets. Whether you're preserving, optimizing, raising or investing capital, EY’s Transaction Advisory Services combine a set of skills, insight and experience to deliver focused advice. We can help you drive competitive advantage and increased returns through improved decisions across all aspects of your capital agenda.
Media Partner (1)
Nikkei is a trusted media brand in Asia, known for its quality journalism and capability in providing business news and information. Founded as a market news media in Japan in 1876, Nikkei has grown to be one of the largest media conglomerates with 37 foreign editorial bureaus and approximately 1500 journalists worldwide, with another global media brand, the Financial Times, joining in our group in 2015. Nikkei are continually deploying new technology to find new ways to deliver news as a reliable source of information for the global community.