Separately bookable Pre Convention Workshop: Coming to grips with the movement to operating leases
Led by: Sudhir P. Amembal, Chairman, Amembal & Associates
8th June 2008 • Hyatt Regency – The Churchill, London
Day One: Tuesday 9th June 2009
08.45 Registration and coffee
09.30 Chairman’s welcome and opening remarks
Sudhir P. Amembal, Chairman, Amembal & Associates
09.45 A top down view of the leasing market and what to expect in 2009
- Amidst and beyond the credit crunch – where does leasing go from here?
- An independent industry or a subset to global finance?
Stephen Sklaroff, Director General, Finance and Leasing Association (FLA)
10.15 Mature market perspective: How is the leasing industry likely to change in the future?
- Market trends – what has changed and what has stayed the same?
- Leasing products – which are likely to survive?
- How does leasing compare to other forms of financing?
- Growth sectors and industries
- Risk management of larger assets
Alain Vervaet, Chief Executive Officer, ING Lease
Sven Jirgal, Commercial Leader, GE Capital EMEA
Richard Bird, Senior Manager, Asset Finance, KPMG
11.00 Coffee and networking
11.45 Outlining the International Accounting Standards Board’s (IASB) proposals on a new approach to lease accounting
- Proposal to replace existing lease accounting standards
- No longer classifying leases as operating or finance leases
- Leases to be recognised as assets representing a right to use the leased item and an obligation to pay rentals
- Interactive feedback for IASB’s discussion paper on new leasing standards
Rachel Knubley, Senior Project Manager, International Accounting Standards Board (IASB)
12.15 Are manufacturers better placed to offer vendor finance and what is the future role of banks in the leasing sector?
- Manufacturers vs. captives vs. bank lessors – who is best placed to offer vendor finance?
- Does the deterioration of capital markets and uptick in the cost of borrowing mean bank lessors will retrench?
- How have risk management models adjusted amidst the credit crisis?
- Can leasing survive in its current form as a stand-alone business or will it become a product offered by banks to clients?
Patrick Jelly, Vice President and Managing Director, Pitney Bowes Finance
Alain Vervaet, Chief Executive Officer, ING Lease
Sudhir P. Amembal, Chairman, Amembal & Associates
13.00 Lunch
14.15 Providing funding to emerging market lessors amidst the global market turmoil
- Overview of leasing in emerging markets
- Impact of the credit crunch on emerging market leasing businesses
- Has market turmoil affected the way multilaterals operate in emerging and nascent markets?
- Opportunities and challenges for lessors in emerging markets
- 2009 and beyond – outlook for emerging markets
Debra Perry, Principal Banking Specialist, International Finance Corporation (IFC)
14.45 Varied tax implications of leasing in Europe – practical assessments and implications
- Impact of tax benefit loss on finance leases – practical comparisons across markets
- VAT changes and depreciation issues – where does this leave the industry?
- Turkey case study
Bülent Tasar, Chairman, Turkish Leasing Association (FIDER)
15.15 Is Islamic leasing on the verge of becoming a global phenomenon?
- How has Islamic finance been affected by the credit crunch?
- What sources of funding are available to Islamic institutions and where does leasing fit into the funding mix?
- Tangible and intangible assets – shari’ah implications outlined
- Cost implications – how competitive is an Islamic lease for conventional lessees?
Derek Weist, Director, Head of Corporate Banking, Bank of London and The Middle East
15.45 Coffee and networking
16.15 What lies ahead for the Russian leasing market?
- Reviewing the market dynamics and the underlying drivers behind the downturn
- How leasing can provide solutions to the challenges faced by Russian corporates?
- Domestic market competition and opportunities for foreign players
- What went wrong and what are the lessons to be learnt?
16.45 How has the African leasing industry been affected by the credit crunch and what is the outlook for the future?
- Responding to the credit crunch – what are the local initiatives?
- What are the strategies of those surviving?
- Assessing market landscape and opportunities – when will the African leasing market come back?
Emeka Ndu, Managing Director, C&I Leasing
17.15 Beyond the market turmoil – how will businesses change their approachto leasing after the credit crisis?
Guido Soldano, Head of Operations, Banca Agrileasing
17.45 Chairman’s closing remarks followed by drinks reception
Day Two: Wednesday 10th June 2009
09.00 Chairman’s opening remarks
Sudhir P. Amembal, Chairman, Amembal & Associates
09.15 A movement to operating leases – is it imminent and is it feasible?
- Why operating leases?
- Do benefits outweigh the risks?
- Strategic considerations
Sudhir P. Amembal, Chairman, Amembal & Associates
09.45 Macro-economic perspective: Beyond the credit crunch and a look into the future
- Liquidity crunch vs. credit crunch – has the pain really hit yet?
- What to watch out for – signals of recovery
- Oil price, currency, inflation – what can we expect in quarter three and four?
- Government bailouts and intervention – long term implications for the market
Charles Robertson, Chief Economist, ING
10.15 Motivations for leasing in the current economic climate – a lessee’s perspective
- Overview
- US and global economic and financial crisis
- Information technology investment – the boom, the bust and the future
- Current ad hoc lease motivators
- Leasing outlook – uncertainty and opportunities
Alexander Skouloudis, Leasing Manager, Corporate Finance, Aetna
10.45 Coffee and networking
11.15 Augmenting volume using lease brokers vs. driving down margins – pros and cons
- Role of brokers and a cost cutting tool
- Strategic advantages and disadvantages
- Fees paid – is it worth it?
- Brokers bring deals but also cause pain
Loni Lowder, Chief Executive Officer, ACC Capital Corporation
11.45 Managing customers for profit – opportunities and challenges in 2009 and beyond
- Know the customer
- Be paid to play
- Lifetime value concept
- Use of technology
Raphael Parambi, Retired Chief Executive Officer, Muscat Finance
12.15 Focus on aircraft leasing: Cross-border leasing and challenges facing complex structures
- How to do a multi-jurisdiction transaction
- Standardisation – realistic or a long way off?
- Case studies
Markus Ohlert, Head of Leasing, Corporate Finance, Deutsche Lufthansa
Erik Dahmen, Senior Marketing Director, Waha Leasing
Sudhir P. Amembal, Chairman, Amembal & Associates
13.00 Big ticket leasing in the rail industry – challenges to be faced in 2009
- European locomotive leasing – how is the industry changing?
- Risk allocation of the business
- Future developments and market potential
Yonosuke Miwa, Managing Director, Group Chief Financial Officer and Chief Investment Officer, Mitsui Rail Capital Europe
13.30 Chairman’s closing remarks followed by lunch