The 4th Euromoney US Covered Bond Investor Forum

The Euromoney US Covered Bond Investor Forum was a success once again. Over 230 issuers, investors and intermediaries convened on Wednesday 11 April 2012 at The Pierre, New York.

The event opened with a lively breakfast panel, offering attendees the chance to hear from the experts including Nicolas Veron of the Peterson Institute of International Economics on what the Eurozone crisis meant for Yankee bank debt. The opening panel focused on the likelihood of US legislation on Covered Bonds and the outlook for a re-emergence of the US market. Further sessions across a busy day considered: what the LTRO means for the Covered Bond market as a whole; the relationship between Covered Bonds, RMBS and unsecured; US investor appetite for non-US issuers; the experience of Canadian issuers; liquidity issues in the secondary market; best practice for investors in credit analysis on Covered Bonds and relative value to other asset classes; and how non-US issuers should navigate the market and different formats - 144a, SEC and private placements.

Speakers included:
- Paul Dudouit, Head of Funding, Credit Foncier
- Edward Fitzpatrick, Portfolio Manager, Schroder Investment Management
- Darren K. Getek, Vice President, Portfolio Trading, Conning Asset Management
- John Kerschner, Head of Securitized Products, Janus Capital Group
- David Knutson, Senior Analyst, Legal & General Investment Management
- Mikko Korhonen, Head of Fixed Income Trading, USA, NBIM
- Helena Lee, Senior Credit Analyst, Oppenheimer & Co.
- Wojtek Niebrzydowski, Vice President, Treasury, CIBC
- Gina Orlins, Director, Global Treasury, Credit Suisse
- Albert Papa, Portfolio Manager, Swiss Re
- David Power, Vice President, Market Strategy and Execution, Corporate Treasury, RBC
- Chris Russell, Senior Policy Advisor, Office of Congressman Scott Garrett and Professional Staff, Capital Markets and GSE Subcommittee
- Sanjay Sofat, Regional Treasurer, Americas, Lloyds Banking Group
- David Todd, Head of Global (ex US) Investment Grade Credit Portfolio Management, Invesco
- Nicolas Véron, Senior Fellow, Bruegel, and Visiting Fellow, Peterson Institute for International Economics
- Peter Walker, Associate Vice President, Treasury and Balance Sheet Management, Toronto Dominion Bank
- Urs Walser, Executive Director, Treasury, UBS
- Joshua Wright, Markets Group, Federal Reserve Bank of New York

Many thanks to all our speakers, delegates and sponsors for making the event possible once again. We look forward to seeing you at the next events in our Covered Bond series, in Sydney in June and Munich in September.


Click here to download the presentation from Nicolas Véron, Senior Fellow, Bruegel, and Visiting Fellow, Peterson Institute for International Economics

Wed 11 Apr 2012

The Pierre, New York