12th Annual Global Commodities Finance Geneva

DAY ONE

Monday 8th June, 2015
9:15 Registration and breakfast 

10:00 Chairperson’s opening remarks
10:15 Macroeconomic outlook: Upswing potentials across the commodities spectrum

• The oil price slump: Has there been a paradigm shift?
• Changing trade flows and the notable rise of South-South trade
• Drivers of growth: Is the US overshadowing emerging markets?

1. Dr. Edward George, Head of Group Research, Ecobank

10:45 The Global Commodities Lenders’ Panel: What implications will low commodity prices, geographical shifts and regulatory changes have on banks’ strategies and customer demands?

• Regulation, reputation and returns: How to navigate through a sea of regulatory requirements
• Discussing the changing landscape of bank market player and recurring predominance of traditional trade finance banks
• How are banks reassessing their exposure to risk and how does this affect their lending activities?

1. Karel W. Valken, Global Head Trade & Commodity Finance Agri; Global Sector Head Grains & Oilseeds, Rabobank
2. René Awambeng, Group Head, Regional Corporates and Regional Business, Ecobank
3. Bernard Zonneveld, Global Head Structured Metals & Energy Finance, ING Commercial Banking
4. Sabrina Borlini, Global Manager, Trade and Commodity Finance, IFC
5. Moderator: Geoffrey L. Wynne, Partner, Sullivan & Worcester UK LLP

11:30 A diverse Africa: Identifying trade flows, risks and financing opportunities in a heterogeneous continent

• One Africa? Differentiating between countries, identifying strong and reliable trade players  and analysing ways to quantify country risks in the African market
• How have KYC and compliance requirements affected risk appetite from global banks’ lending activities in Africa? 
• What impact does the development of Africa as a destination market have on financing needs?

1. Nicolas Clavel, Chief Investment Officer, Scipion
2. Declan O'Brien, CEO, Barak Fund Management
3. Rupert Cutler, Chief Executive Officer Financial and Political Risks, Newman Martin and Buchan LLP
4. Dr. Edward George, Head of Group Research, Ecobank, moderator

12:30 Lunch and networking break
14:00 Qingdao and beyond: What lessons can be taken to help mitigate collateral risk? 

• Working together: Highlighting inventory assurance needs from bankers vs. traders vs. collateral managers
• Qingdao: Already water under the bridge or do we see long term changes in metal trade financing?
• How has the insurance market rebounded and how has their role in the market changed?

1. Alexander Peters, CFO, Sahara Group
2. Peter Hopkins, Managing Director, DRUM Risk Management
3. Colin Hunter, Head of Credit and Political Risk Insurance, Kessler AG
4. Veronika Koroleva, Partner, Dentons, moderator

14:45 Geopolitical tensions and sanctions: How to direct business in a politically volatile market? 

• Lessons learnt from BNP: Avoiding sanctions fault lines
• What effects will increasing sanctions and political tensions have on global commodity trade?
• How has the market reacted to Russia’s trend towards isolation and sanctions?

1. Pepi Bedi, Head of Structured Trade Finance, Global Trade Finance Department, Sumitomo Mitsui Banking Corporation Europe Limited
2. James Cunningham, Credit & Political Risks, Miller Insurance Services LLP
3. Alexander Waechter, Member of the Executive Board Ι Head of Corporate Banking, Sberbank AG
4. Moderator: Mark Segall, Partner, CMS, moderator

15:15 Afternoon refreshments and networking break
15:45 Compliance needs: Contrasting lender vs. borrower expectations and issues with practicality in daily activities 

• Where do banks see a lack of control measures being taken and demand more documentation and assurance?
• Where do traders see the need for better information and documentation exchange?
• Fines and reputational damage: Who should bear the costs of today’s trade finance deal making?

16:30 Benefits of cooperation: Highlighting banks’ and funds’ complimentary roles in commodity trade finance

• Geographical analysis of private capital in trade finance: Reasons for demand in emerging markets and development of private capital in smaller and/or higher-risk transactions
• Limit of returns? Analysing attractiveness of trade finance as an asset class
• Discussing needs for more transparency

1. Alexandre Vieira, Galena Commodity Trade Finance Fund - Portfolio Manager, Galena Asset Management Ltd
2. Suresh Advani , Senior Portfolio Manager, Head of Trade Finance, GML Capital LLP
3. Vittorio Riva, Investment Director, BlueCrest Capital Management
4. Antoine Boesch, Head of Business Development, Structured Trade & Commodity Finance
5. Marc Weisberger, Partner, Holman Fenwick Willan, moderator

17:15 Oxford-style debate on Securitization: This house believes that securitization  will evolve as a common structuring tool in structured trade finance 

1. Laurent Christophe, Global Head of Corporate Finance, Trafigura
2. Charles Nahum, Independent Managing Director, Europe, Finacity
3. Jerome Farges, Head of Corporate Securitisation Europe, Securitization & Distribution Solutions, Societe Generale CIB
4. Dougall Molson, Partner, Freshfields Bruckhaus Deringer, moderator
   
   

18:00 Chairperson’s closing remarks followed by drinks reception

DAY TWO

Tuesday, 9th June 2015
8:30 Registration and refreshments
9:00 Chairperson’s opening remarks 
Mark Segall, Partner, CMS

9:15 How are trading houses aligning their strategies and repositioning themselves in a restructuring market?

• How do trading houses view the restructuring of the banking market and resulting liquidity levels?
• Does the market see regulation similar to that of banks emerging for trading houses?
• New financing avenues: Discussing alternatives of private capital and public markets

1. Jean Craven, Director, Export Trading Group

10:00 Back to basics? Where is the middle ground between reduced risk, transactional based lending, RCFs and unsecured lending being established?

• Discussing the attractiveness of asset-based and recourse products to an increasingly risk-averse financing community
• Analysing the popularity of prepayment financing and trends towards import-led trade finance
• Is a preferential treatment of RCF structures over transactional lines advisable in the long run?

1. Geoffrey L. Wynne, Partner, Sullivan & Worcester UK LLP

10:30 Morning refreshments and networking break

11:00 Medium-size trading houses: Different outlooks and track records of success 

• Banks vs trading houses: Who will develop as the key financier of medium-sized trading houses?
• Discussing costs of KYC and due diligence of medium-sized deals: How can a standardisation of procedures make financings more attractive? 
• With large trading houses increasingly utilizing alternative forms of financing, will the market see a concentration of traditional transaction based financing among medium-sized players?

1. Christian Börner, Northland Capital Partners Ltd
2. David Taylor, Director, Structured Trade Finance, Erste Group Bank
3. Peter Köck, Head of Oil & Gas, Raiffeisen Bank International AG
4. Philip Prowse, Partner, Clyde & Co LLP, moderator
   

11:45 Is the market experiencing overall shift in geographical layout of oil & gas trade? What efforts are being made to create a security of supply?

• Emerging markets, middle-class growth and effects on oil & gas demand
• What impact have high liquidity and competition resulting from low prices had structured trade finance deals?
• Russia’s isolation: Analysing increasing demands of pre-financing for Russian producers and lack of funding  

1. Dirk Kuiper, Global Head Energy Commodities, Rabobank

12:15 Are current reassessments of risk leading to increased insurance requirements?

• What is the market focussing on: Discussing credit vs. political insurance needs
• Where does demand come from? Highlighting regional differences of insurance demands and trends across industries
• Where can insurance provide cost effective risk reduction and what are its limitations? 

1. George  Bellord, Director, BPL Global
2. Andreas Seubert, Head Structured Trade Finance, Swiss Re
3. Rupert Boyle, Partner, JLT Credit, Political & Security Risk
4. Amy Clarke, Senior Underwriter, Atradius
5. Simon Kilgour, Partner, CMS UK, moderator
   

13:00 Closing remarks followed by lunch and close of conference