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Syndicated Loans Conference7 September 2016, London20 Years of the LMALead Sponsors
Loan Market AssociationSyndicated Loans Conference, LondonLoan Market AssociationSyndicated Loans Conference, LondonContentsWelcomeWelcome1S&P Global RatingsTreading water36Programme220 Years of theLMA timeline40Speaker BiographiesCocktail Reception421Administrative NotesDates for your diaryEvents Programme 201643Our lobbying efforts, to ensure that regulation does not adversely affect the abilityof the syndicated loan market to fund the business sector, have also continued.Undoubtedly, Brexit will be the focus of many of our discussions with regulators forthe coming year, but we will also be maintaining our focus on those aspects of EU,global and national regulation which we have already identified as causing potentialproblems for the loan market.LMA Syndicated LoansCourse for Lawyers44Exhibitor Listing29LMA Loan DocumentationCertificate Course46LMA Syndicated LoansConference 2017Welcome to the LMA’s 9th annual conference. The last 12 months have certainlybeen eventful across the financial markets, not least as a result of the outcomeof the UK referendum on membership of the EU. This is undoubtedly already havingan impact across the industry, although for the loan market any immediate effect ismore as a result of the possible impact on general economic and corporate activity.The LMA will be carefully monitoring the possible issues a Brexit brings about forthe syndicated loan market, and engaging with legislators and regulators both in theUK and other EU countries to stress the importance of maintaining a liquid andeffective syndicated loan market across Europe.422232Dear Delegate,Nonetheless, the LMA’s work continues, across the spectrum of its activities,and throughout the EMEA region. Our documentation library continues to growand develop, and we have been rolling out our education programme acrossan increasing number of jurisdictions. A particularly important development hasbeen the introduction of our webinar programme, which enables our membersacross the EMEA – and beyond – to access training and information on a widerange of subjects.Sponsorship ListingClifford ChanceBrexit: A time of adjustmentLMA Syndicated Loans ConferenceLondon7 September 201648Today’s conference provides us with the ideal opportunity to discuss the challengescurrently facing the loan market, and to put forward possible solutions. I would liketo thank all our excellent speakers for their contribution to the event, and hope thatyou enjoy an interesting and informative day.Clare DawsonChief Executive – LMA1Roland BoehmChairman – LMA
Loan Market AssociationSyndicated Loans Conference, LondonProgrammeLoan Market AssociationSyndicated Loans Conference, LondonProgramme continued8.15Registration9.00Welcome and opening remarksClare Dawson, Chief Executive – LMA9.25Heads of Syndication panel debate: visions through volatility13.45Chair: Clive Ransome, Partner – MilbankMichael Emery, Head of EMEA Syndications – IFCAdil Kurt-Elli, Head of CEE & Sub-Saharan Africa, DCM – HSBCJonathan Macdonald, Global Head of Syndicated Finance – National Bankof Abu DhabiChair: Roland Boehm, Divisional Board Member, Corporates International– Commerzbank & Chairman – LMAAnne-Marie Woolley, Head of Energy & Metals, Global Commodity Finance– NedbankEdward Brown, Global Head of Syndicated Finance – INGEric Zimny, Head of CEEMEA Loan Capital Markets – SMBCECharlotte Conlan, Head of Loan & HY Syndicate, EMEA – BNP ParibasNick Jansa, Global Co–Head of Leveraged Debt Capital Markets– Deutsche Bank14.25Daniel Maraggelis, Deputy Treasurer – Royal Mail GroupBente Salt, Head of Treasury – Rentokil InitialKeith Taylor, Head of Loan Syndicate, EMEA – BarclaysNeil Wadey, Group Treasurer – British American TobaccoEconomic outlookRoger Bootle, Chairman – Capital Economics10.45Refreshments11.10The operations engine room: promoting efficient practicesLinda Williams, Group Treasurer – RPC Group15.10Refreshments15.35Restructuring for the futureChair: John MacLennan, Partner – Clifford ChanceChair: Doug Laurie, European Head Loan Middle Office & Ops – BarclaysTom Domanski, Legal Counsel – Davidson Kempner European PartnersJacqueline Allen, Partner – Mandel, Katz & BrosnanIan Johnson, Partner – Slaughter and MayRobert Brodie, Head of EMEA Loan Operations – CitiSteven Connolly, Vice President, Wholesale Loan Operations, Middle Office– J.P. MorganDanny Nahum, Head of Loan Closing – Babson CapitalNigel Tuck, Structured Finance & Special Credit Management – SEBSam Whittaker, Managing Director – PJT Partners16.15Hunger Games: risk and reward in leveraged finance – the buyside viewChair: Chris Porter, Head of Loan, Recovery & CLO Business Development,EMEA – S&P Global Ratings12.30Brexit and syndicated loansMark Campbell, Partner – Clifford ChanceJohn Olesky, Head of Product Management – Markit Loan Settlement11.50What makes for a good borrower/lender relationship?Chair: John Jackson, Group Treasurer – Severn TrentKristian Orssten, Head of HY & Loan Capital Markets, Sales & Trading– J.P. Morgan10.15Developing markets: surfing the tidesSimon Gleeson, Partner – Clifford Chance16.45Private placements: much achieved, much to doChair: Philip Smith, Partner – Allen & OveryFiona Hagdrup, Director, Leveraged Finance Group – M&GFilomena Cocco, Director of Marketing & Client Relations – Muzinich & CoAly Hirji, Portfolio Manager – BlackRockArnold Gast, Head of Credits – Delta LloydMadelaine Jones, Managing Director – Oaktree Capital ManagementCalum Macphail, Head of Corporate Private Placements – M&GCraig Scordellis, Senior Portfolio Manager – CQSEmmanuelle Nasse Bridier, Group Chief Executive Officer – AXALunch Sponsored by Banwo & Ighodalo17.25Closing remarksRoland Boehm, Divisional Board Member, Corporates International– Commerzbank & Chairmain – LMA17.30 – 19.302Cocktail Reception Sponsored by Baker & McKenzie3
Loan Market AssociationSyndicated Loans Conference, LondonLoan Market AssociationSyndicated Loans Conference, LondonSpeaker Biographies continuedSpeaker BiographiesJacqueline AllenPartnerMandel, Katz & BrosnanRoland BoehmDivisional Board MemberCorporates InternationalCommerzbankChairmanLMAJacqueline is the head of MK&B’sLondon office. Jacqueline’s practicefocuses on the secondary loan tradingmarkets and providing advice on thelegal issues relating to the purchaseand sale of distressed assets.Jacqueline has been actively involvedin the loan trading market since 1997and has had extensive experience invarious types of high-yield transactionsthroughout the world, including tradeclaims and loan restructurings.Jacqueline concentrates onrepresenting banks, hedge funds andother financial institutions that purchaseand sell distressed assets in emergingand established markets in Europe,Asia and Australia.Roland is Divisional Board Member,Corporates International atCommerzbank. Roland is responsiblefor the business with internationalcorporate clients and Commerzbank’snetwork of international branches andsubsidiaries.Prior to its merger with Commerzbankin 2009, Roland was responsible forthe loan syndication business atDresdner Kleinwort for Europe andDeveloping Markets. Since 2012,Roland has been Chairman of the LoanMarket Association (LMA), having beenelected as a member in 2009.Before taking on his current role inJanuary 2016, Roland served as theDivisional Head of Debt Capital MarketsLoans, which includes Commerzbank’sSyndicated Loans, Schuldschein,Strategic Asset Finance and AircraftBusiness sectors.4Jacqueline started her legal career firstat Norton Rose in both London andParis and then at Allen & Overy LLP.Immediately prior to joining MK&B in1999, Jacqueline was a vice-presidentworking on the distressed debt tradingdesk at Deutsche Bank AG, London.Born in Germany, Roland grew upin Australia and Canada, where hestudied at the University of Alberta.Roger BootleChairmanCapital EconomicsEdward BrownGlobal Head ofSyndicated FinanceINGOne of the City of London’s best-knowneconomists, Roger is ExecutiveChairman of Capital Economics. He isalso an Honorary Fellow of the Instituteof Actuaries and a Specialist Adviser tothe House of Commons TreasuryCommittee. Roger is a regularcolumnist for The Daily Telegraph andhas also written several books includinghis widely acclaimed latest book, TheTrouble with Europe, which examineshow the EU needs to be reformed andwhat could take its place if it fails tochange. It follows The Trouble withMarkets, which analysed the deepcauses of the recent financial crisisand discussed the threats to capitalismarising from it and the widely praisedMoney for Nothing. In July 2012 it wasannounced that Roger and a teamfrom Capital Economics had won theWolfson Prize, the second biggest prizein Economics after the Nobel.Edward is the Global Head ofSyndicated Finance at ING wherehe has been for the last 10 years.Edward is responsible globally for thestructuring, underwriting and sale of allsyndicated loans across LeveragedFinance, Project Finance, Financialinstitutions, Infrastructure, InvestmentGrade, and Trade & CommodityFinance. Edward was previously GlobalHead of Sales.banks including Chase Manhattan(now J.P. Morgan) where he was latterlyEuropean Head of Sales; CSFB; andBarclays where he was Global Head ofLeveraged Loan Syndications. Prior tojoining ING, Edward was Global Headof Loan Markets Distribution at ABNAmro.Over the last 30 years, he has workedat a number of leading international5Edward is currently on the board oftrustees of the Baring Foundation,a grant giving charity and holds anUpper Second B.A. honours degreein Economics from Heriot-WattUniversity in Edinburgh.
Loan Market AssociationSyndicated Loans Conference, LondonLoan Market AssociationSyndicated Loans Conference, LondonSpeaker Biographies continuedRobert BrodieHead of EMEALoan OperationsCitiSpeaker Biographies continuedRob is Head of EMEA Loan Operationsat Citigroup responsible for SecondaryLoan Closing, Loans Agency andLending Operations for the region. Robjoined Citibank in 1994 subsequent toseven years working for majorEuropean Banks in various operationalroles across asset classes. Sincejoining Citi, Rob has managed FX,Options and Treasury Operationsfunctions in various capacities. Roboriginally joined Citi’s EMEA LoanOperations team in 2007 in a capacityof Loans Agency Head, subsequentlytaking responsibility for LendingOperations and Secondary Closing.Rob chairs the Secondary LoanClosing working group formed as partof the wider LMA Loan OperationsCommittee.Mark specialises in acting for banksand borrowers in syndicated, leveragedand structured finance transactionsas well as restructurings and has over30 years’ experience working in theloan markets.Mark is widely recognised as one ofthe leading banking lawyers globally.He advises the EMEA trade associationfor the loan markets, the Loan MarketAssociation, on its market standardprimary and secondary loandocumentation and is the editor of‘Syndicated Lending – Practice andDocumentation’ (Euromoney Books).Mark CampbellPartnerClifford ChanceFilomena CoccoDirector of Marketing& Client RelationsMuzinich & CoFilomena is a Director of Marketing& Client Relations at Muzinich & Co.,a global institutional asset managerspecialising in credit. As part of a teamfocused on European institutionalinvestors, Filomena has ademonstrated track record of helpingclients develop and customiseinnovative opportunities in corporatecredit. In particular, Filomena hasplayed an instrumental role in openingprivate debt opportunities for Muzunichin her native Italy.Prior to joining Muzunich in London,Filomena was Senior Vice President6at Neuberger Berman focused onestablishing and expanding the US fundmanager’s international distribution.From 2007 to 2009, she worked inthe Hedge Fund Development andManagement Group at Merrill Lynchand previously was a General PracticeAssociate at Sullivan & Cromwell.Filomena started her career in financeas an analyst at Lehman Brothers.Conversational in four languages, sheearned her law degree magna cumlaude at the Bologna University Schoolof Law and her LLM from ColumbiaUniversity. She was admitted to theNew York Bar in 2010.Charlotte ConlanHead of Loan & HY SyndicateBNP ParibasCharlotte is Head of EMEA High YieldBond & Loan Syndicate for BNP Paribas.She is responsible for the underwritingand distribution of all loan and HY productacross the EMEA region. The team isinvolved across a broad product rangewhich includes high yield bonds andleveraged loans, I-Grade corporate loanfacilities, infrastructure finance andstructured debt.Charlotte joined BNP Paribas in 2000from Greenwich NatWest where she hadbeen a Director in the Loan Syndicationsteam working across the credit spectrumon corporate and leveraged transactions.Steven joined J.P. Morgan in May 2010and is currently head of EMEA Loan &Agency and Secondary Loan TradingDocumentation. Steven is anexperienced Loan Operationsprofessional having successfullymanaged Loan Closing, Middle Office,Trade Support and Operations teamsover a period of 11 years. Steven leadsan LMA working group that is committedto achieving operational efficiency anddriving best practice across the industry.Steven ConnollyVice President, WholesaleLoan Operations, MiddleOfficeJ.P. Morgan7Charlotte is a member of the LMA Boardand the Advisory Board for the Universityof Birmingham Business School. She isa graduate of Birmingham Universityand holds a Master of BusinessAdministration from Cass BusinessSchool.
Loan Market AssociationSyndicated Loans Conference, LondonLoan Market AssociationSyndicated Loans Conference, LondonSpeaker Biographies continuedClare DawsonChief ExecutiveLMATom DomanskiLegal CounselDavidson KempnerEuropean PartnersSpeaker Biographies continuedClare joined the Loan MarketAssociation in 1999 after spending twoyears in the syndications department atSumitomo Bank, working on loans inEurope, the Middle East and Africa.Prior to this she spent two years at theBritish Museum Development Trustraising funds for the Museum’s GreatCourt project. Before joining the BritishMuseum, Clare had spent some eightyears at Sumitomo in the internationalTom joined Davidson Kempner in2013 where he is responsible for thetransaction legal function in Europe andAsia. Prior to Davidson Kempner, Tomspent two years working at Man Groupwhere his focus was on Man’s fund offunds, seeding and managed accountplatforms. Before joining Man, Tom spentdepartment, including two years at thebank’s head office in Tokyo, where shehelped establish a syndications desk. InLondon she worked mainly onorigination in various Western Europeanand Nordic countries.Clare has an honours degree in Modernand Medieval Languages from theUniversity of Cambridge.over 7 years at Allen & Overy where hequalified into the Securitisation group.Tom received his honours degree in Law(with Law Studies in Europe) from theUniversity of Oxford.AMRO where he focused on emergingmarket loan syndications primarily inthe EMEA region. Prior to that, he spent10 years in project and export financeat Bank of Tokyo-Mitsubishi. Michaelhas an MA from Oxford University.Arnold Gast joined Delta Lloyd AssetManagement in 2004, and is Head ofCredits since 2007. He is responsible forthe credit investments of Delta LloydGroup and it’s award winning investmentfunds. Delta Lloyd is founding memberof the European Private PlacementAssociation at which Arnold serves asa board member.Prior to joining Delta Lloyd, Arnold workedas a senior credit analyst at ABN AMROAsset Management’s Fixed Incomedepartment. He started his career in 1998as an investment strategist at TheodoorGilissen Bankiers.Simon joined Clifford Chance in 2007as a partner in the firm’s FinancialRegulation group, where he specialisesin financial markets law and regulation.He has advised Governments,regulators and public bodies as well asbanks, investment firms, fund managersand other financial institutions on a widerange of regulatory issues. He advisedthe World Economic Forum on its 2009Report on The New Global FinancialArchitecture, and has worked withregulators and governments around theworld on the establishment of regulatoryregimes. He has been a member of theFinancial Markets Law Committee,chairs the Institute of InternationalFinance’s Committee on Cross-BorderBank Resolution, has written numerousbooks and articles on financialregulation, and is the author of“International Regulation of Banking”,recently published by Oxford UniversityPress. He is a Visiting Professor of theFaculty of Law at the University ofEdinburgh.Michael EmeryHead of EMEA SyndicationsIFCArnold GastHead of CreditsDelta LloydSimon GleesonPartnerClifford Chance8Michael is Head of EMEA Syndicationsat the International Finance Corporationin London responsible for syndicatingIFC’s loan products to commercialbanks, development finance institutionsand institutional investors. He joinedIFC in 2010 after 10 years at ABN9Arnold holds an MA in Economics fromthe University of Groningen and is aRegistered Investment Analyst (RBA).
Loan Market AssociationSyndicated Loans Conference, LondonLoan Market AssociationSyndicated Loans Conference, LondonSpeaker Biographies continuedSpeaker Biographies continuedFiona joined M&G Investments as aDirector in August 2003. She is aportfolio manager for some separatemarket value accounts and the M&GEuropean Loan Fund as well as beingresponsible for the structured vehiclesinvesting in loans.Fiona HagdrupDirector, LeveragedFinance GroupM&GPrior to joining M&G, Fiona was acorporate Debt Capital Marketsorigination executive at BNP Paribas,responsible for the Nordic region.Aly is a Portfolio Manager in theEuropean Fundamental Credit teamwithin BlackRock International FixedIncome, focusing primarily on the highyield leveraged loan asset class andrelated products, including CLOs.Aly HirjiPortfolio ManagerBlackRockJohn JacksonGroup TreasurerSevern TrentPrior to joining BlackRock in 2014,Aly was a partner and portfoliomanager at New Amsterdam Capital,a European credit manager focused onleveraged credit. He was responsiblefor managing CLOs, leveraged loanand high yield funds, managedaccounts and trading. He joined theJohn is Group Treasurer of SevernTrent Plc, joining in July 2014 after sixyears as Group Treasurer of the WeirGroup PLC. John has previouslyworked for Marks & Spencer andHalifax and trained as a CharteredAccountant with Price Waterhouse.John is both a Fellow and CouncilMember of the ACT.10Before that, Fiona worked for 9 yearsat SEB, a Nordic financial institution,involved in both loan and fixed incomeorigination.Fiona is a Chartered Accountant,having qualified with Ernst & Young andhas a MA in history from CambridgeUniversity.She is M&G’s representative on theBoard of the Loan Market Association,the industry trade body.Nick JansaGlobal Co-Head ofLeveraged Debt Capital MarketsDeutsche Bankfirm as its first employee in 2004 asa credit analyst and contributed togrowing out the firm and its assetsunder management. He began hiscareer at J.P. Morgan in 1999 workingin leveraged finance origination, debtcapital markets and financial sponsorcoverage.Nick is a Managing Director at DeutscheBank and is Global Co-Head ofLeveraged Debt Capital Markets whichincludes the origination, execution anddistribution of loans and high yieldbonds. Nick joined Deutsche Bank inLondon in 1995 and has spent themajority of his career in debt marketsin London and New York.Ian is Head of the Restructuring andInsolvency practice at Slaughter andMay. His recent restructuring andinsolvency experience includesadvising:Aly earned a BSc degree, with honors,in economics from the University ofBristol in 1999.Ian JohnsonPartnerSlaughter and May– Punch Taverns on its capitalrestructuring of 2.3 billion ofgross debt– EIB in connection with therestructuring of Vestas WindSystems A/S– v arious financial institutions in relationto the financial restructuring of FCC– Premier Foods, Tho
of the wider LMA Loan Operations Committee. at Neuberger Berman focused on establishing and expanding the US fund manager’s international distribution. From 2007 to 2009, she worked in the Hedge Fund Development and Management Group at Merrill Lynch and previously was
