day 1 29 September 2016
NPL Europe 2016
th
08.15
Registration & Refreshments
09.00
Keynote: Deleveraging European NPLs: opportunities, triggers & risks • • • • •
Assessing Hedge Fund performance: redemption, opportunities, fees What next for Bank Distressed Desks? Focus on Basel IV The general market tone: is the credit cycle coming to an end and what will trigger it? The impact of Brexit: hard exit vs soft exit Identifying new NPL opportunities: Italy, Shipping, Oil & Gas
Oskar von Kretschmann, Managing Director, European Head Illiquid and Distressed Sourcing, HSBC, Germany
BLOCK 1
BUY-SIDE PERSPECTIVE Chaired by: Denise R. Hamer, Partner, Finance & Projects, DLA Piper
09.15
Buy-side Panel • • • •
What impact will the Atlas Fund have in Italy? What are the pros & cons of acquiring a Servicer or forming a partnership? How can the sales process be standardised to improve efficiency? How will new Bankruptcy & Restructuring Legislation in Poland, Serbia, Romania, Croatia, etc impact the appetite for NPLs in these countries?
Panellists: Tavis Cannell, Head of Asset Investing, Goldman Sachs International, United Kingdom Nikolay Golubev, Senior Vice President, Bain Capital Credit, United Kingdom Josh Silver, Head of Portfolio Acquisitions, APartners Capital, United Kingdom David Ruiz, Head of CRE SSG, Deutsche Bank, United Kingdom Blair Lewis, CEO, Hatfield Philips International, United Kingdom
10.00
BLOCK 2
One-hour Networking Coffee
FOCUS ON COUNTRIES - Choose between 3 rooms 13.45
Italy
Room Ballroom 3
11.00
Chaired by: Francesco de Gennaro, Partner, DLA Piper, Italy
Assessing the quality of the NPL stock in Italy • • • •
Macroeconomic scenario and market overview The deleveraging process to date NPL quality determinants in the Italian legal framework Recent activity and outlook
Francesco de Gennaro, Partner, DLA Piper, Italy
11.15
panel discussion • •
EUR 360 billion of bad debt: what can realistically be accomplished? How has the EU’s guarantee on senior tranches of NPL securitisations impacted the NPL stock? Has it made a difference?
Additional Panellists: Justin Sulger, Partner - Head of Credit, AnaCap, United Kingdom Massimo Prestipino, First Vice President - Distressed Asset Management, UniCredit, Italy Dominico Moro, Managing Director, PVE Capital, United Kingdom Pierre Lussato, Managing Director, Bayview Asset Management, Italy
1
day 1 29 September 2016
NPL Europe 2016
th
Chaired by: Sigrid Jansen, Partner, Allen & Overy, Netherlands
Room Montagu
Netherlands
11.00
Assessing the Dutch legal framework for NPL transactions • • • •
An overview of the current situation at the market Legal / regulatory issues for the NPL transactions How to regard creditors Managing the transfer issues
How can NPL credits be managed and what impact do they have on consumers? Paul Hopman, Country Managing Partner, DLA Piper, Netherlands
11.15
panel discussion • • •
What are the drivers for larger Loan Portfolio sales in the Netherlands in 2016-17? How do Regulations affect the portfolio sales process and are the same rules applicable for all involved parties? How can NPL credits be managed and what impact do they have on consumers?
Room Berkeley
UK & Ireland
Additional Panellists: Maarten van der Donk, Manager, Corporate Clients, DirectPay Services, Netherlands Sara Douwes, Managing Director, Capita Asset Services, Netherlands.
14.00
Chaired by: Federico Montero, Managing Director, Evercore, United Kingdom
11.00
An update on the UK NPL Market • • • •
How is the NPL Market performing? What are the main Asset classes? Who are the Investors? Are there any developments that might impact deals?
Tom McAleese, Managing Director, Alvarez & Marsal, United Kingdom
11.15
panel discussion • •
The ECB sees Ireland as a good example of how to deleverage NPLs. What lessons can be learned from the Irish experience? What will be the effect of more granular, specialised portfolios coming to the market?
Additional Panellists: Lloyd Lee, Managing Partner, Yoo Capital, United Kingdom Pradeep Pattem, Founder & Chief Investment Officer, Park Street Advisors, United Kingdom Michael Fiddy, Partner, DLA Piper, United Kingdom
12.00
Room change & coffee
2
day 1 29 September 2016
NPL Europe 2016
th
BLOCK 3
STRATEGIES & PROCESSES - Choose between 3 rooms
Room Ballroom 3
Deleveraging & Bank Restructuring
Chaired by: Dietmar Schulz, Partner, DLA Piper, Germany
12.15
Examining Bank business models: How & why to restructure • • • •
European Banks: Under Pressure From All Sides The Current State of Play: Reactive Strategies Eye on the Ball: What Does a Bank Look Like in 2021? Toolkits for Restructuring Success
David Belford, Managing Director, Colony Capital, United Kingdom
12.30
panel discussion • • •
What is the key to a successful deleveraging strategy? What are the exit options? Should the ECB start buying NPLs? Can Quantitative Easing work?
Additional Panellists: Nick Tesseyman, Managing Director, Financial Institutions Group, EBRD, United Kingdom Andreas Sumper, Senior Manager, zeb/rolfes schierenbeck associates, Austria Raj Apte, Partner - Head of Restructuring for Central & Southeast Europe, EY, Hungary Jure Poljšak, Head of Credit Risk, Abanka, Slovenia Chaired by: Nick Ollard, Director - Global Asset Sales Services, TDX Group, United Kingdom
12.15
Technology Requirements Critical to Project Execution
Room Berkeley
Managing the Bid Process
– Virtual Data Room Best Practice • • • •
Comparing Western Europe & CEE - how technology is leveling the playing field Key Components of Deal Preparation Prior to Targeted Bidder Dialogues Opening the Data Room & Managing Due Diligence – Close the deal faster and accelerate credit recovery Compliance, Reporting & Auditability – The insurance policy every loan sale needs
Daniel McKenna, Account Executive, EMEA Debt Capital Markets, Intralinks, United Kingdom
12.30
panel discussion • • •
What criteria should Banks set for the selection of Investors? How can Data Quality be improved? What Servicing capacity should Investors demonstrate and how can customers best be protected?
Additional Panellists: Andrea Pavlović, Member of the Management Board and CRO, Privredna Banka Zagreb, Croatia Biagio Giacalone, Head of Credit Solutions Group, Banca IMI, Italy Saleem Arif, Managing Director, Cohen & Company, United Kingdom Pavel Březina, Head of Workout Strategies and NPL Sales, Erste Group Immorent, Austria
3
day 1 29 September 2016
NPL Europe 2016
th
14.00 12.15
Chaired by: Harish Kumar, Managing Director, Alvarez & Marsal, United Kingdom
How to manage an efficient & effective data room
Room Montagu
DATA QUALITY & DATA HANDLING
• • • • •
Importance of data during deal process Common data issues observed in transactions Data room set up and management Data management during the deal process Key lessons learned and best practices
Harish Kumar, Managing Director, Alvarez & Marsal, United Kingdom
12.30
Data Quality issues in Italy: the servicer’s role in narrowing bid-ask gap • • •
How business intelligence tools can mitigate investors’ risk perception Segmentation and clustering as key factors to limit prudential haircuts Collection scoring models and data enrichment to mitigate value loss
Sonia di Nuzzo, International Relations Manager, Fire Spa, Italy
12.45
panel discussion • •
What immediate steps can Banks take to improve Data quality and how often is the quality of data a major impediment to deals? What technology resources are available to improve data quality and security?
Additional Panellists: Nicklas Lindberg, Project Manager, RBS, United Kingdom Amelia Colvin, Managing Director, Cadogan Securities, United Kingdom Sean Dawson, Managing Director, AnaCap, United Kingdom
13.15
BLOCK 4
Networking Lunch
FOCUS ON COUNTRIES - Choose between 3 rooms 13.45 14.15
Chaired by: Panos Katsambas, Partner, Reed Smith, United Kingdom
NPLs in Greece: the institutional landscape and the road ahead
greece
Room Ballroom 3
• • • •
Constantinos Klissouras, Partner Head, Litigation, Restructuring & Insolvency, KP Law Firm, Greece
14.30
panel discussion •
Sponsored by
Liberalization of the market for bank credit acquisition/management Why Greek banks cannot actively manage their own NPLs Strategic and tactical considerations in designing remedial plans for wholesale/ corporate NPLs Obstacles to active management
• •
What are the challenges for Greek NPL transactions following recent changes in the regulatory framework? Rights to management Servicing deals: will this trend continue in Greece? What progress has been made on the recapitalisation of the banks in Greece?
Additional Panellists: Ines Rocha, Associate Director, FI Team, EBRD, United Kingdom Josep Julia, Global Head - Distressed Assets Investment Group, IFC, United Kingdom Daniel Pietrzak, Managing Director, Global Head of Principal Finance, KKR, United Kingdom Nikos Fragos, Partner, Karatza & Partners, Greece
4
day 1 29 September 2016
NPL Europe 2016
th
Chaired by: Erika Papp, Partner, CMS, Hungary
14.15
The recent evolution of the Hungarian NPL market
Room Berkeley
hungary
Mike Edwards, Head of Valuation & Advisory, Central Europe, Head of Capital Markets, Cushman & Wakefield, Hungary
14.30
panel discussion • • •
Asset types, volumes, prices: what types of deals are happening in Hungary? How helpful have regulatory initiatives been in driving asset sales? Can we expect to see more acquisitions and consolidations in the Hungarian Servicing market?
Additional Panellists: Jurgen De Ruijter, CRO, Deputy CEO, Executive Member of the Board, Erste Bank, Hungary Bogdan Patriniche, Senior Consultant, Duet Asset Management, United Kingdom James Sackett, Managing Director, CarVal Investors, United Kingdom Gustav Hultgren, CEO, DDM, Sweden Szabolcs Mestyán, Partner, Lakatos, Köves and Partners, Hungary Chaired by: Ugur Yildirim, Partner & Member of the Board of Directors, Elements Capital Partners, Slovenia
Room Montagu
slovenia
14.15
Case study: Lessons learned from a recent NPL transaction Matej Runjak, Director, PwC, Slovenia
14.30
panel discussion • • •
How are the Banks working with DUTB to deleverage? How much NPL stock is there still on the books of Slovenian banks and how and when will this be off-loaded? What are the legal and regulatory obstacles to investment in Slovenia?
Additional Panellists: Vesna Pogačar, General Manager Workout & Legal Support, Nova Ljubljanska Banka, Slovenia Jure Gjud, Head of Business Analysis, DUTB, Slovenia Jacqueline Stuart, Owner, Slovenia Invest, Slovenia
15.15
BLOCK 5
Networking Coffee
FOCUS ON ASSET TYPES - Choose between 3 rooms Chaired by: Christoph Urbanek, Partner, DLA Piper, Austria
Room Berkeley
CORPORATE & SME
15.45
An investigative approach to NPL asset recovery • • • •
An assessment of the portfolio: Non-performing vs Misrepresented Following the money? Not always possible Identifying the ultimate beneficiaries: going beyond the loan file and KYC file A multi-jurisdictional approach to recovering funds
Howard Cooper, Managing Director, Kroll, United Kingdom
16.00
panel discussion •
Where are the pools of Corporate & SME stock around Europe and how successful is Workout activity in these markets?
•
What are the pros & cons of write-off vs debt sales?
Additional Panellists: Konstantinos Vouterakos, Partner, KG Law Firm, Greece Oskar von Kretschmann, Managing Director, European Head Illiquid and Distressed Sourcing, HSBC, Germany Vlado Loukanov, Managing Director, Pinerock Capital, Bulgaria
5
day 1 29 September 2016
NPL Europe 2016
th
Chaired by: Josh Ufberg, Partner, Atalaya Capital Management, US
RESIDENTIAL & CRE ASSETS
15.45
CASE STUDY: Extracting value from Residential Portfolios • • •
Room Ballroom 3
•
Key drivers of extracting value from the Polish NPL bank mortgage market The best tactics of asset management and foreclosure in the residential market Identifying methods and benefits in unlocking the value of Polish underutilized residential portfolios Management of whole loans and REO: lessons learned
Matthew Browndorf, Chief Investment Officer, Distressed Capital Management / Resolution Capital Management, US
16.00
panel discussion • •
Resi/CRE in CEE: what are the key obstacles for Investors and does a sophisticated Servicing platform exist? RE Servicing in Spain, Italy, Portugal, CEE: how do they compare?
Additional Panellists: Mohit Agarwal, Chief Strategy Officer & Chief Risk Officer, Plutos Sama, US Natalia Joubrina, Director, Loan portafolios, CarVal Investors, United Kingdom Christian Arsenio, Member of the Board, RES Credit Management, Italy Paul Lewis, Senior Director, CBRE, United Kingdom Siegfried Seewald, Legal Counsel, URBANEK i Wspólnicy, Poland Chaired by: Stacey Schacter, President/CEO, Vion Investments, US
15.45
CASE STUDY: PURCHASING UNSECURED PORTFOLIOS IN BULGARIA
Room Montagu
UNSECURED
• • •
Data games and the dangers of valuation Transparency and outsmarting the competition Gearing up for processing – strategy and resources
Alexander Grilikhes, CEO, Frontex International, Bulgaria
16.00
panel discussion •
What are the key challenges to buying unsecured portfolios?
• •
How is technology playing an increasing role in servicing unsecured portfolios? How easy is it to find local DCAs to manage Servicing?
Additional Panellists: Iñigo Mato, Managing Director, TDX Group, Spain Athanasia Tsene, Partner and Head of the Banking & Finance Group, M & P Bernitsas Law Offices, Greece Emanuele Reale, Director, Hoist Finance, Italy
16.45
BLOCK 6
Room change & coffee
SELL-SIDE PERSPECTIVE Chaired by: Natasha Firman, Director, PwC, United Kingdom
17.00
The European NPL market in numbers • • • • •
Non-performing loans: the multi-trillion problem Hope in sight: convergence of buyers’ and vendors’ perspectives – why now? NPL sale activity on the rise: why higher in some countries than in others? Multiple benefits for banks …. but mind the pitfalls! Outlook – CIS / CEE a new investment opportunity?
Andreas Schreiber, Managing Director, Head of FIG for Germany, Austria and CEE, Lazard, Germany
6
day 1-2 17.15
29-30th September 2016
NPL Europe 2016
Sell-side Panel • • • •
How important is it for Buyers/Servicers to demonstrate they have a reputation for treating customers fairly and what guarantees can be enforced? In what instances will banks sell their servicing departments as part of the transaction? What are the biggest obstacles to deleveraging and how can the sales process be made more efficient? Where in the deleveraging process are banks weakest? Resources? Skills? Know-how? Processes? Expectations? How can Loan Book data quality be improved?
Additional Panellists: Massimo Prestipino, First Vice President - Distressed Asset Management, UniCredit, Italy David Beckett, Head of Sourcing, SC Lowy, United Kingdom Giulio Brunetti, Senior Vice President, JP Morgan, Italy Roman Mocik, Director, FMS, Germany Alexander Tscherteu, CFO / CRO, HETA ASSET RESOLUTION, Austria
18.00
BLOCK 7
End of Day 1 & Cocktails
DEBT PURCHASERS’ PERSPECTIVE Chaired by: Mike Danielewsky, Partner, DLA Piper, Germany
09.00
Evaluating Secured & Unsecured NPLs • • • •
Evaluation process of unsecured NPLs Evaluation process of secured portfolios (secured corporate & secured retail) Best practice of servicing different asset classes after acquisition Fraud prevention within the servicing process: evaluating unsecured and secured portfolios and the differences within the servicing for both asset classes after the sale.
Marwin Ramcke, Managing Director, EOS, Germany
09.15
Comparing Corporate Insolvency Procedures Around Europe • • • •
A purchaser’s perspective: what matters and goes to value The legal landscape and recent reforms: local and international law High-level comparisons between jurisdictions Brexit
Rita Lowe, Partner, Head of Banking, CMS, United Kingdom
09.30
Panel Discussion • • • •
Prices & margins: where are the biggest returns to be made? How can the Sales process be made more efficient? Can we expect to see further consolidation in the marketplace? What are the biggest obstacles to investment?
Additional Panellists: Zachary Lewy, Founder and Chief Investment Officer, Arrow Global, United Kingdom Dicky Davies, Business Development Director, GFKL Lowell, United Kingdom Mayank Gupta, Partner, K&L Gates, United Kingdom
10.15
Networking Coffee
7
day 2 30 September 2016
NPL Europe 2016
th
BLOCK 8
SERVICING - Choose between 2 rooms Chaired by: Andrea Clamer, Head of NPL Division, Banca IFIS, Italy
11.00
The role of the Servicer: extracting maximum value from
SERVICING IN ITALY
Room Ballroom 3
NPL portfolios in less than a week
Sponsored by
• • •
Minimization of the elapsed time for portfolio start-up management Maximization of the ‘early cash flows’ Maximization of the overall cash flows target and identification of ‘high value’ population
Alberto Sondri, CRIF Servicing Director, CRIF, Italy
11.15
panel discussion • • •
How have Italian Servicers adapted to the demands of international Investors? How are Servicers incorporating new technologies in order to improve efficiencies? EUR 360 billion of Debt: Is there enough capacity in the Italian Servicing market?
Additional Panellists: Ambrogio Valtolina, Board Member, FinInt Revalue, Italy Mario Loy, Lawyer, Studio Legale Loy, Italy Alessandro Fiascaris, Principal, Blackstone, United Kingdom Massimo Famularo, Member of the Board of Directors, Frontis NPL, Italy Chaired by: Attila K Csongrady, Counsel, CEE/SEE Banking and Finance, Allen & Overy, Slovakia
SERVICING IN CEE
Room Devonshire
11.00
Sponsored by
Case Study: Getting more from NPL portfolios with advanced collections strategies • • •
Creating the best Collections Strategy in order to increase Collections Efficiency Adjusting strategies to the Price of the Portfolio Advanced analytics for performance prediction, improving quality of data
Boris Vujicic, Managing Partner, Black Pine
11.15
panel discussion • • •
How will new Restructuring & Bankruptcy legislation in Poland, Romania & Serbia impact Servicing capabilities? How can Unsecured Servicers enter the Secured market place? Is there adequate Servicing capability in the region and if not, where are the gaps?
Additional Panellists: Bill Hancock, Managing Partner, Resolute Asset Management, United Kingdom Dragoljub Sretenović, Associate, BDK Advokati/ Attorneys at Law, Serbia Frixos Ioannidis, Servicing & Portfolio Management,Deputy Director, Qualco, Greece Lech Giliciński, Partner, K&L Gates, Poland
12.00
Room change & coffee
8
day 2 30 September 2016
NPL Europe 2016
th
Room Ballroom 3
SPAIN & PORTUGAL
BLOCK 9
FOCUS ON COUNTRIES - Choose between 3 rooms 13.45
Chaired by: Luis Martin Guirado, Senior Advisor, The Debt Exchange, Spain
12.15
An overview of the NPL market in Spain • • • •
NPL transactions in the Spanish market: are new deals coming? How the political situation and the progress of the economy affects NPL transactions? The main legal issues a foreign investor has to bear in mind How tax issues and regulations in Spain affect the framework of NPL deals
Idoya Arteagabeitia, Partner, Ramón y Cajal Abogados, Spain
12.30
panel discussion • • • •
How have CRE Investors reacted to changes in Spanish Insolvency law? How will a wave of M&A activity amongst financial institutions impact the market for NPLs? Have new accounting rules affected the market? How have local companies adjusted their service offering to the requirements of global Investors?
Additional Panellists: Iñigo Velázquez Prado, Head of Banking and Portfolios, Bankia, Spain Jorge Pérez de Leza, Managing Director, Grupo Lar, Spain Ignacio Buil, Partner, Cuatrecasas Gonçales Pereira, United Kingdom Manuel Enrich, Investor Relations Director, SAREB, Spain Antonio Payan Martins, Partner, CMS, Portugal Chaired by: Alexander Rakosi, Partner, CMS, Austria
12.15
Romanian Legislative Updates
Room Montagu
Workshop
Cristina Reichmann, Partner, CMS, Romania
12.30
Croatia – Local Specifics of NPL Transactions Jelena Nushol, Partner, CMS, Croatia
12.45
Panel discussion • • • •
Recent legal developments Evolution of NPL transactions in the CEE region Trends and highlights in CEE transactions Future outlook for NPL transactions in the region
Additional Panellists: Elitsa Ivanova, Partner, CMS, Bulgaria Laurentiu Prisacariu, Department Manager - NPL Investments Strategy, KRUK, Poland Eszter Torok, Senior Counsel, CMS, Hungary
9
day 2 30 September 2016
NPL Europe 2016
th
13.45
Chaired by: Barbara Cerinski, Managing Director, EOS Matrix, Croatia
12.15
an overview of the croatian npl market
Room Devonshire
CROATIA & SERBIA
• • • •
The impact of activities in the NPL market Overview of the RE market Recent NPL portfolio disposals Forecast and oportunities
Filip Vučagić, Partner, Director of Investment, Valuation and Advisory Services, Colliers International, Croatia
12.30
panel discussion • • • •
How has the Serbian government‘s Strategy for the resolution of non-performing loans‘ facilitated NPL deleveraging in Serbia? How can the workout process for Corporate loans be reduced in Serbia? What has the Croatian market learned from Projects Janica & Dinara? The NPL pool: opportunities, asset types, volumes, prices, margins.
Additional Panellists: Marinos Vathis, President of the Executive Board, Vojvodjanska banka, Serbia Hrvoje Draksler, Head of Workout Division, Erste Bank Croatia, Croatia Darko Jovanović, Partner, Karanović & Nikolić, Serbia Ivana Manovelo, Partner, Macesic & Partners, Croatia
13.15
BLOCK 10
Networking Lunch
A US PERSPECTIVE Chaired by: Gifford West, Managing Director, The Debt Exchange, US
14.15
US Panel • • • •
What new strategies can US Investors and Servicers bring to the market in 2017? Is it possible to transfer US Servicing knowledge to local European partners? Are they willing to incorporate new practices & what are the challenges? Is it possible to standardize the Sales process and what are the benefits of doing so? What attributes do the panellists look for when acquiring local Servicing partners?
Additional Panellists: Stacey Schacter, President/CEO, Vion Investments, US Peter Duncan, Portfolio Manager and Managing Director, Silver Creek Capital, US Craig Martin, Partner, DLA Piper, US
15.00
End of day & end of conference
10
