AGENDA

Registration and networking

Chairman’s welcome

Josh Galper, Managing Principal, Finadium

Current dynamics in the securities lending industry

• How are regulations and electronic trading driving change?
• Securities lending, repo and swaps: competition and cooperation
• Indemnification and balance sheet utilization

Moderator

• Craig Starble, Chief Executive Officer, eSecLending

Panelists

• Keith Haberlin, Head of Global Securities Lending, Brown Brothers Harriman
• Paul Wilson, Global Head of Agent Lending Product & Portfolio Advisory, J.P. Morgan
• Bill Mascaro, Head of International Equity Trading, Citi
• Bill Kelly, Global Head of Agency Securities Finance, BNY Mellon

Regulatory update

• Basel III’s Liquidity Coverage Ratio and Net Stable Funding Ratio
• The US Supplementary Leverage Ratio
• Changes to US capital rules
• Examples of the impact
• What will be the limiting factors on financing and liquidity?

Moderator

• Mark Whipple, Global Co-Head Agency Lending, Goldman Sachs

Panelists

• Mike McAuley, Managing Director, Global Head of Product Strategy, Securities Finance, BNY Mellon
• Tom Poppey, Global Securities Lending Head of Program Management, Brown Brothers Harriman
• Robert Zekraus, Head of Client Capital Management and Funding, Prime Services, Scotiabank
• Glenn Horner, Chief Regulatory Officer, Global Markets, State Street

Networking break

Changes in cash and non-cash collateral

• Taking advantage of non-cash collateral demand
• Collateral transformations
• Liquidity generation
• Money market reform and securities lending

Moderator

• Jeff Bonaldi, Head of Agency Securities Lending & Cash Management Sales, Americas, Citi

Panelists

• Patricia Hostin, Managing Director, Head of US Equity Securities Lending Trading, BlackRock
• Brendan Eccles, Co-Head, Global Securities Borrowing and Lending, Scotiabank
• Dennis Riley, Co-Head of U.S. Relationship Management, Agency Lending, Goldman Sachs
• Peter Diminich, Managing Director and Global Co-Head of GSF Fixed Income, ING Financial Markets

Keynote speaker

Irene Aldridge, President and Managing
Director, Research, AbleMarkets.com, “Big Data, Finance and Risk in Today’s Markets”

End of day networking reception

Breakfast and closed door session for investors using agent lender services

• Is agency lending evolving?
• Charging for indemnification or not?
• Agency lending and plans for Central Counterparties

Beneficial owners only

Registration and breakfast

The State of Securities Lending: A data-driven perspective

Presenter

• Sam Pierson, Director, Securities Finance, IHS Markit

The US, Europe and Asia: changing regional bank regulations and the impacts for securities finance

Presenter

• Josh Galper, Managing Principal, Finadium

Networking break

Securities lending data for investment management

• Securities lending data in pricing options, swaps, futures and equities
• Securities lending data as a predictive market indicator
• How can investors with lending programs take advantage of their own data?

Moderator

• Rick Stinchfield, Senior Consultant, Finadium

Panelists

• Chris Benedict, Director, DataLend
• David Riehl, Director, Securities Finance, IHS Markit
• Matt Johnson, Head of Enhanced Custody Trading, North America, State Street

Direct and Peer to Peer lending

• The rapid growth of securities lending and repo without a credit intermediary
• Business models of agent lenders, prime brokers and service providers
• Electronic trading systems for Direct and Peer to Peer

Moderator

• Josh Galper, Managing Principal, Finadium

Panelists

• Jeff Kidwell, Director, Head of Direct Repo™, AVM, L.P.
• Christopher Poikonen, Executive Vice President, Business Development, eSecLending
• Doug Brown, Global Head of Alternative Financing Solutions, State Street
• Michael Curran, Executive Vice President, BNY Mellon

Lunch and networking

Investor break-out sessions (concurrent)

Investors in Agency or Principal Lending Programs

• Maximizing returns in securities lending
• Transparency from agent lenders and the market
• Differences in operational models between Agency and Principal programs

Moderator

• Marney McCabe, Head of Securities Lending Relationship Management – Americas, Brown Brothers Harriman

Session Facilitators

• Jason Strofs, Managing Director, Global Head of Securities Lending Product Strategy, BlackRock
• Joshua Gray, Associate Director, Securities Lending & Proxy Governance, Russell Investments
• Chris Jaynes, President, eSecLending
• Dennis Riley, Co-Head of U.S. Relationship Management, Agency Lending, Goldman Sachs

Long-only and Long/Short Asset Managers

• Long/short funds and securities lending: should internal alternatives funds be talking to lending programs?
• Swaps vs. securities lending
• Self-financing for margin and short selling

Moderator

• Peter Bassler, Managing Director, Business Development eSecLending

Session Facilitators

• Matthew Thomas, Managing Director, Global Head of Prime Brokerage & Financing, BlackRock
• Patrick Morrissey, Head of Trading – Securities Lending, Vanguard Group
• Jeff Bonaldi, Head of Agency Securities Lending & Cash Management Sales, Americas, Citi

Insurance Companies

• Securities finance for collateral liquidity: what’s required and what is the tipping point for utilization?
• Lending and financing for General Collateral assets
• Accounting and risk in collateral transformations

Moderator

• Sam Sparhawk, Managing Director, Sales and Relationship Management, Securities Finance, BNY Mellon

Session Facilitators

• Lance Doherty, Director of Treasury, Pacific Life Insurance Company
• John McIntyre, Managing Director, PGIM Fixed Income

Investor break-out sessions (concurrent)

Investors in Agency or Principal Lending Programs

• The Board perspective: is securities lending a fiduciary responsibility?
• What do Boards need to do now and with SEC modernization?

Moderator

• Bill Smith, Head of WHEM Agent Lending Sales, J.P. Morgan

Session Facilitators

• Julie Hubbard, Head of Securities Lending Relationship Management and Sales – Americas, Brown Brothers Harriman
• Mark Whipple, Global Co-Head Agency Lending, Goldman Sachs
• Nancy Allen, Product Owner, DataLend
• Elaine Kim Benfield, Senior Counsel, Vanguard Group

Asset Managers and Insurance Companies

• The mechanics of repo market reform for asset managers

Session Facilitators

• Richard Mejzak, Managing Director, Head of US Portfolio Management, BlackRock
• Karl Mocharko, Vice President/Senior Trader, Federated Investors

Hedge Fund Portfolio Finance and Treasury Managers

• Industry networking session

Networking break

Prime brokers and hedge fund service providers on borrowing demand and future trends

• Prime brokerage demand for securities loans
• Equity swaps vs. securities lending
• How scarce or plentiful are balance sheets really?

Moderator

• Aaron Stearns, Director, Co-Head of AVM Solutions, AVM, L.P.

Panelists

• Brock Bell, Vice President of Treasury and Portfolio Finance, Capstone Investment Advisors
• John McGuire, Global Head of Enhanced Custody, State Street
• John Stracquadanio, Managing Director, Head of Prime Services and Collateral Management and Funding, Scotiabank
• Michael Kelleher, Americas Head of Equity Finance, J.P. Morgan

Keynote speaker

Robert Swan
“The 2041 Challenge”

Closing networking reception