Thursday, May 12, 2005

Keynote Address: 8:30 a.m.

International Financial Stability
Roger Ferguson, Vice Chairman, Board of Governors, Federal Reserve System

As Vice Chairman, Dr. Ferguson is a representative of the Federal Reserve in International Policy Groups. He has served as Chairman of the Joint Year 2000 Council, the Group of Ten Working Party on Financial Sector Consolidation, the Committee on the Global Financial System, and the Financial Stability Forum. Before becoming a Member of the Board, Dr. Ferguson was a Partner and Director of Research and Information Systems at McKinsey & Company, Inc., as well as an attorney at Davis, Polk & Wardwell in New York. He is an Honorary Fellow of Pembroke College, Cambridge, and a member of the Board of Overseers of Harvard University, the Board of Trustees of the Institute for Advanced Study, the Council on Foreign Relations, and the Group of Thirty.

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General Session: 9:15 a.m.

Case Study: Chevron and Texaco: How to Successfully Manage a Global Treasury
David Krattebol, Treasurer, ChevronTexaco Corp

Mr. Krattebol has been Vice President and Treasurer of ChevronTexaco Corp. since the company’s formation in 2001. Mr. Krattebol began his career with Chevron Corp. in 1971 as a Financial Analyst. After serving in financial and supervisory positions in San Francisco and abroad, he was appointed Manager of Financial Controls in 1981. He was named Vice President of Finance for Chevron International Oil Co. in 1983 and in 1987, joined Chevron USA Inc. as Comptroller-Upstream. In 1990, he became Vice President of Finance for Chevron Overseas Petroleum Inc., during which time he served on the Partnership Council of Tengizchevroil. In 1999, Mr. Krattebol was named President of Chevron San Jorge in Argentina.

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General Session: 10:30 a.m.

Panel Discussion: The Banks' Perspective on Cross-border Liquidity Management
Moderator: Susan Skerritt, Partner, Treasury Strategies
Central and Latin America: Elyse Weiner, Managing Director and Global Head for Liquidity and Investments, Citigroup Cash Management
Europe: Willem van Alphen, SVP, ABN Amro
Asia: Ben Arber, VP Asia Payments and Cash Management, HSBC

A panel of banks that represent Central and Latin America, Europe and Asia discuss the tools and vehicles available in their areas for managing cross-border liquidity.

Ms. Skerritt is responsible for the firm’s Corporate Consulting practice, advising CFOs and corporate treasurers on strategic treasury issues related to working capital optimization, global cash management, risk management, and technology. Prior to 1998, Ms. Skerritt was a Principal at Morgan Stanley in its global treasury organization, a Senior Manager at Ernst&Young, and a Vice President at Manufacturers Hanover. Ms. Skerritt has an MBA in Finance and International Business from New York University and a BA degree in Economics from Hamilton College.

Before her current post, Ms. Weiner headed the Global USD Liquidity and Investments product team at JPMorgan Chase. Prior to JPMorgan, Ms. Weiner held a similar position with Deutsche Bank, New York. With over 20 years of experience in financial services, she began her career with Chase Manhattan Bank, working in various capacities including financial controllership, asset liability management and product management. Ms. Weiner holds MS and MBA degrees, is a Certified Treasury Professional and a registered securities principal with Citigroup Global Markets, Inc.

Mr. van Alphen has been working in the treasury management area for more than 25 years and currently has global responsibility for ABN AMRO’s cash pooling services. At ABN AMRO bank, he led the bank’s Treasury Management Consulting group and helped the bank develop its euro cash management services during the introduction of the single currency. As a Global Cash Management Advisor he assisted many corporate clients implementing regional and global cash management structures. Mr. van Alphen has published articles in different magazines and co-authored a handbook on International Cash Management.

Mr. Arber is responsible for promoting regional cash and treasury management solutions for HSBC’s corporate customers in Asia Pacific. He specializes in technology, telecoms and transport and has designed regional and global solutions for numerous market-leading firms. Mr. Arber’s previous role with HSBC consisted of defining and managing the HSBC Group global strategy for new technologies. This included developing and coordinating mobile banking, secure e-payments, and mobile payments strategy. Mr. Arber has also held positions in corporate banking and cash management for HSBC in Taiwan and the Middle East.

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Luncheon Address: 11:45 a.m.

Japan's View of Asia's Impact on Global Economies
Toyoo Gyohten, Former Vice Minister for the Japan Ministry of Finance, and President, The Institute for International Monetary Affairs

Since 1995, Mr. Gyohten has been President of the Institute for International Monetary Affairs, a foundation established by the Bank of Tokyo to succeed in its tradition as Japan’s only specialist foreign exchange bank. Mr. Gyohten serves concurrently as Senior Advisor of The Bank of Toyko- Mitsubishi, Ltd., Japan’s prime financial institution, as well as being a member of the Group of Thirty. Previously, he was Chairman of Working Party, OECD, Paris, and a visiting professor at Harvard University, Princeton University, and the University of St. Gallen in Switzerland. In 1992, he was elected Chairman of the Bank of Tokyo. Mr. Gyohten is co-author of the book, Changing Fortunes, with Paul Volcker.

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Concurrent Sessions: 1:15 p.m.

Corporate Structure
Presentation: Understanding Corporate Financial Structuring Techniques
David Schenck, Principal, KPMG

Learn sophisticated financing techniques for multinational corporations, international M&A and joint venture planning, as well as tax aspects of financial instruments.

Mr. Schenck leads the Financial Institutions and Products group in Washington National Tax. Mr. Schenck focuses on sophisticated financing techniques for multinational corporations, international M&A and joint venture planning, and all tax aspects of financial instruments. Prior to joining the firm, Mr. Schenck was with Mobil Corporation in Fairfax, Virginia. Mr. Schenck received his B.A. in History, Juris Doctorate, and Master of Law in Taxation from Georgetown University.

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Foreign Exchange
Panel Discussion: The Impact on Global Economies of FX Fluctuation
Speakers: Head traders from HSBC, Deutsche Bank

Focusing on the euro and Asian currencies, foreign exchange experts explain the repercussions and ripple effects on global economies of fluctuations in FX rates.

Mr. Wardle provides daily commentary and strategies in emerging markets, as well as advising corporate clients on financing and hedging strategies. In 1999 he moved to New York as FX Strategist for emerging market currencies, covering Asia, Eastern Europe & Africa and the Latin American regions. Mr. Wardle joined HSBC in London as a currency options trader in September 1993 before joining the Emerging Markets Structured Products desk in 1997. Mr. Wardle earned a BS in Business Management from the University of Manchester, U.K. and a Masters Degree in International Banking and Finance from the Global Institute of Finance, New York.

Mr. Shell directs a sales team that markets a broad suite of products, including cash FX, vanilla and exotic FX options, illiquid EM assets, economic derivatives, according to customers’ needs. Mr. Shell joined Deutsche Bank in 1996 from General Re Financial Products interest rate derivatives department. Prior to working in FX sales, Mr. Shell traded FX options for DB in London and New York. Mr. Shell has a BA from UC Berkeley and an MBA from Columbia University.

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Treasury Management
Presentation: How In-House Banks Can Be Invaluable
Mark Gibbens, Treasurer and Vice President, Lucent Technologies Inc.

Lucent developed an In-House bank which encompasses all financial risk management activities including Cash Investment, Foreign Exchange Management, Case Management, Debt and Interest Rate Management and Intercompany Loans. The In-House Bank permitted the drastic consolidation of external financial transactions, financial systems and a reduction in international tax rates. The new processes, procedures and systems have enabled Lucent to have a dramatically more cost effective, controlled environment with excellent compliance characteristics.

Mr. Gibbens is responsible for all treasury functions at Lucent—including Corporate Finance, International Treasury, Risk Management, Credit and Recovery, Customer Finance, Consumer Lease Services, and Pension Fund Management. Mr. Gibbens joined Lucent in 2000 as Assistant Treasurer and played a critical role in strengthening Lucent’s capital structure during that time. He was appointed to his present position in March 2003. Prior to joining Lucent, Mr. Gibbens was Vice President of Finance at Online Retail Partners, where he evaluated venture capital investments, structured partnerships, and completed private rounds of financing for the company. He also spent ten years with General Motors Corporation where he served as Director of Business Development and Director of Capital Markets.

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Concurrent Sessions: 2:15 p.m.

Maximize Your Corporate Effectiveness
Panel Discussion: Treasury Metrics
Moderator: Jeffrey Wallace, Partner, Treasury Alliance Group

Like it does for marketing, GAAP crudely measures the effectiveness of treasury risk management and operations. Unlike marketing, however, companies rarely use non-GAAP metrics to fairly measure Treasury’s contribution to increasing firm value and meeting policy objectives. Share your company’s experiences with treasury performance metrics and discuss the metrics proposed by Treasury Alliance Group.

Mr. Wallace leads the firm’s risk management practice. In 1992, he founded Greenwich Treasury Advisors LLC, which merged with Treasury Alliance in 2004. As a writer, Mr. Wallace is best known for The Group of 31 Report: Core Practices for Managing Multinational FX Risk, which is based upon the FX practices of 31 global multinationals with average sales of $50 billion in a study sponsored by General Motors. Mr. Wallace is an acknowledged expert on FAS 133 and AcG-13, and has written the FAS 133 chapter for the third edition of The International Finance and Accounting Handbook. Mr. Wallace’s corporate treasury experience included being Vice President – International Treasury at American Express and Assistant Treasurer at both Seagram and at Dun & Bradstreet. Previously, Mr. Wallace worked with Price Waterhouse and earned an MBA from the University of Chicago after graduating from Dartmouth College.

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Regional Focus
Presentation: Successfully Naviagting Through European Developments
Susan Skerritt, Partner, Treasury Strategies
Ron Mulder - Financial Manager, Eurocil Netherlands
Lisa Rossi, Head of U.S. Liquidity Management, Deutsche Bank

A European company and a bank present the latest challenges and solutions for managing the treasury function in Europe. One of the topics presented will be the EEIG, Europe’s best kept secret. The EEIG has been in existence for many years, and provides companies with a solution for cross-border liquidity management, yet very few companies have even heard of it. Participants will discuss other hot issues of the day including developments in Eastern Europe.

Ms. Skerritt is responsible for the firm’s Corporate Consulting practice, advising CFOs and corporate treasurers on strategic treasury issues related to working capital optimization, global cash management, risk management, and technology. Prior to 1998, Ms. Skerritt was a Principal at Morgan Stanley in its global treasury organization, a Senior Manager at Ernst&Young, and a Vice President at Manufacturers Hanover. Ms. Skerritt has an MBA in Finance and International Business from New York University and a BA degree in Economics from Hamilton College.

For the past nine years, Mr. Mulder’s responsibilities for Eurocil Holding include leadership roles in the areas of treasury operations, cash and debt management, currency and commodity exposures, taxation, risk management and customer credit issues. Prior to joining Eurocil, Mr. Mulder held finance and IT positions at a construction factory and IT and marketing positions at Dutch Telecom. Mr. Mulder studied Marketing Management and Business Economics and is a certified System Analyst and System Designer.

Ms. Rossi is responsible for US dollar liquidity management strategy and the development of new products overseas. She also handles US dollar pooling, cash concentration and investment sweep products for corporate clients as well as financial institutions. Ms. Rossi served as Head of Marketing and Product Development at Integral Development Corporation and was with CitiGroup for five years prior to that heading up the North American Liquidity and Investment area within Global Cash Management. Ms. Rossi has a BS in Economics and History from Gettysburg College.

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Corporate Structure
Case Study: Is Outsourcing Right for You?
Giuseppe Matassi, ex-EMEA treasurer, Johnson Control, Brussels

What are the tax and operational strategies in deciding whether to outsource or use a shared service center? In which country do you place an SSC? Through this case study, you’ll learn when to decide to outsource, what to outsource, and what to keep in-house.

Mr. Matassi is responsible for providing treasury services to the fast-growing EMEA region with $6 billion cash flow in 14 currencies generated by 120 entities. He has successfully managed the "in-house bank" of the company providing transactional treasury support to JCI’s entities worldwide. Mr. Matassi has also directed a team of eleven professionals directly responsible for strategy and management of liquidity, FX, corporate finance, project finance, IT and accounting in support of the business in the region. Mr. Matassi is a proud recipient of the first “Finance Excellence Award” program of Monsanto in 1990.

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Concurrent Sessions: 3:30 p.m.

Regional Focus
Case Study: The Impact of the Developments in China and India
Peter Wong, Convenor of the HKACT, Chairman, China Treasury Forum, Regional Director & Treasurer, AIG

The Convenor of the HKACT presents his views on how to succeed in the developing economies of China and India. Learn how to make your Treasury more efficient in these high growth potential but challenging markets.

Mr. Wong is the Regional Director and Treasurer of AIG in Hong Kong and is responsible for treasury management for 15 countries in the Asia Pacific region (excluding Japan and Korea). He is a member of the International Group of Treasury Associations and is the founding chairman of the China Treasury Forum. Mr. Wong is also the founding member of the Hong Kong Treasury Markets Forum, created by the Hong Kong Monetary Authority. He is a fellow member of the UK-based Association of Corporate Treasurers and the Chartered Institute of Management Accountants, as well as the Hong Kong Institute of CPA.

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Regional Focus
Roundtable Discussion: What's Going to Happen in Latin America?
Moderator: Geoffrey Bell, Executive Secretary, Group of Thirty and President, Geoffrey Bell and Company Discussion Leader: Laurence Hinz, U.S. CFO and Treasurer, Laureate Education Inc.

Discuss and share ideas about the challenges and opportunities of doing business in Latin America today. Which countries hold the most promise? Which keep you up at night? Hear from your peers on lessons learned in the region.

Mr. Bell advises a wide range of central banks and governments on their international reserve asset and liability management programs. He was a financial advisor to the Central Bank of Venezuela, the Government of Barbados, and the Government of Jamaica. His company acts as a consultant to major corporations and banks in the U.S., United Kingdom, Europe and South America and specializes in bank regulation. Mr. Bell is the Founder and a member of the Board of Directors of the Group of Thirty. He is the author of The Euro-Dollar Market and the International Financial System and is a frequent contributor to the International Herald Tribune and financial journals.

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Corporate Finance
Panel Discussion: Financing in the Asian Capital Markets
John McGarry, Vice President, Goldman Sachs

For the past 11 years, Mr. McGarry has held major roles at some of the world’s largest debt issuers and has a depth of experience in Capital Markets. With Goldman Sachs since 1997, he oversees and manages the West Coast coverage effort for the investment grade debt business. Previously, he was based in Hong Kong to run the Debt Capital Markets efforts in Non-Japan Asia, working on transactions for China Sovereign, Korea, Hyundia, among others. Earning an MBA from the University of Chicago and a BA from Northwestern University, McGarry worked for New York’s Solomon Brothers before joining Goldman Sachs in 1997.

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Concurrent Sessions: 4:30 p.m.

Global Issues
Presentation: Combating International Fraud
Norman Inkster, Inkster Group, ex-President of Interpol and Commissioner, RCMP

An expert in national and international law enforcement and forensic investigations, Mr. Inkster provides investigative, security and law reform services to domestic and foreign governments and international financial institutions. Prior to starting the Inkster Group, Mr. Inkster was the Global Managing Partner for the International Forensics Practice of a major accounting firm. As Commissioner of the RCMP, he managed all aspects of Canada’s largest police force with approximately 21,000 employees and a $1.7 billion budget. Mr. Inkster was also president of Interpol from 1992 to 1994. After Sept. 11, 2001, he was appointed Special Adviser on Matters of Security by the Government of Ontario.

Business brings risk. Today’s business risks are even more subtle and challenging. How do we keep the balance right? This session will illustrate the best practices on how to combat fraud internationally.

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Regional Focus
Case Study: How to Manage Liquidity Across NAFTA Countries
Ernest Humphrey, Global Treasury Operations, Franklin Electric
Todd Rizzieri, Wachovia Bank

Learn how one leading company manages and streamlines treasury operations in the U.S., Mexico and Canada.

Mr. Humphrey provides international cash management for sixty-five bank accounts in ten countries, including foreign exchange transactions, global insurance coordination, and benefit plan accounting. Prior to working in treasury, he spent two years as a Global Marketing Analyst at Franklin Electric. Mr. Humphrey has earned both a Bachelor of Science and a Masters Degree in Economics from Purdue University and is also an AFP member and a Certified Treasury Professional.

Mr. Rizzieri markets the bank’s international capabilities to multinational clients. He has over 15 years of international banking experience, having spent eight years in currency risk management, and the past seven in global treasury including four as Wachovia’s London Branch Representative. Mr. Rizzieri has his CTP, Series 7, and Series 63 designations, and is a graduate of Princeton University.

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Regulatory
Panel Discussion: How Fair Value Accounting Impacts the Treasurer
Sally Smedal, Treasurer and Controller, Basic American Foods
John Rieger, Director of Financial Accounting and Reporting, AFP

The impact of the FASB Exposure draft on Fair Value Measurements regarding both financial and non-financial assets and liabilities will be discussed. The Treasurer’s role when valuing the company balance sheet is increased as is the burden upon the Treasurer to be familiar with the valuation process.

Ms. Smedal was elected to the AFP Board of Directors in 2001 and currently serves as Chairman of the Board. Prior to joining Basic American Foods in 1994, she worked for Chevron Corporation (now ChevronTexaco) in the finance organization. Ms. Smedal earned a BS in Business Administration from Oregon State University and an MBA from the University of California at Berkeley.

Mr. Rieger was the former owner of a Certified Public Accounting firm and Advisor on Transparency and Disclosure issues for OECD. He was the Senior Accounting & Audit Advisor for the United States Agency for International Development, Washington, D.C. and a member of the UNCTAD Inter-governmental Working Group of Experts. He was also a member of Trust and Company Service Providers Working Group for Offshore Banking Supervisors. Mr. Rieger, also a CFP, received both his undergraduate and MBA degrees from Illinois State University.

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Dinner Address: 8:30 a.m.

The View From the European Central Bank
Paul Mercier, Deputy Director General of Market Operations, European Central Bank

A top ECB expert expounds on its evolution and its role in the global financial markets. Gain a unique perspective on the ECB’s view of the American dollar and the impact of current policies.

Mr. Mercier is Chairman of the Working Group on Monetary and Exchange Rate Policy Instruments and Procedures, in which the European Central Bank and the national central banks of the European Union are represented. He was previously Head of Financial Markets of the European Monetary Institute (EMI). Before joining the European Monetary Institute in November 1994, Mr. Mercier served in the National Bank of Belgium (the Belgian central bank) in Brussels where he worked in the field of monetary policy. For thirteen years (i.e. from September 1982 to September 1995), Mr. Mercier was a Professor of Economics at the Faculty of Law of the University Saint Louis in Brussels, and published various scientific papers.

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Friday, May 13, 2005

Keynote Address: 8:30 a.m.

Capital Market Development Over the Next Decade
Gerd Häusler, Director, International Capital Markets Dept., IMF

A global financial leader outlines a broad overview of the capital markets and looks into the international future to see what we can expect.

Mr. Häusler has been Counsellor and Director of the International Capital Markets Department at the IMF since August 2001. Between January and July 2001, he was Senior Advisor at the Deutsche Börse (Frankfurt) before joining the IMF. In 1996, he joined the Dresdner Bank AG as a member of the Board of Managing Directors.

He was responsible for the bank’s treasury business, as well as for its operations in the Asia-Pacific region and the U.S. and U.K. He then became Chairman of Dresdner Kleinwort Benson in London. Earlier in his career, Mr. Häusler worked at the Deutsche Bundesbank and the Bank of International Settlements in Basel, and served as a member of the Directorate and the Central Bank Council.

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General Session: 9:15 a.m.

How to Measure, Monitor and Manage Global Risk
Geoffrey Bell, Group of Thirty
John Collins, SVP & Chief Risk Officer, Constellation Energy Group

Finance leaders share their inside knowledge about energy, financial risk and impact on global markets. Mr. Bell will open up with a global perspective on risk and the markets. As Chief Risk Officer of a multi-billion dollar energy trading company, John Collins will lay out how his company perceives and manages energy and enterprise-wide risk.

Mr. Collins is responsible for defining and assessing business risks by bridging all business lines and facilitating proactive decision making regarding existing and potential risks within the enterprise. Prior to his current position, Mr. Collins worked in Treasury and Finance for major power and gas/electric companies and served on the Board of Directors for multiple Constellation Power groups. Most recently, he was Managing Director-Finance and Treasurer of Constellation’s merchant energy business, where he was responsible for the entire breadth of financial matters (including risk control, business planning, financial analysis, capital management and cash management). Collins earned an MBA from the University of Pittsburgh’s Katz School of Business and a BS in Business Administration from the University of Delaware. Currently, Mr. Collins serves as a Board of Director for the Committee of Chief Risk Officers and Special Olympics Maryland.

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General Session: 10:45 a.m.

Exploring International M&A — Legal Barriers and Pitfalls
Bernard Grinspan, Gibson, Dunn & Crutcher

This session covers current issues, pitfalls and trends in the cross-border M&A market in both public and private transactions, such as the human factor, "synergies" and the regulatory landscape. A primary focus will be placed on smaller private equity transactions, exploring the key steps of a deal timetable, and explaining, with examples from deals in various countries, the specific issues one may encounter.

A member of Gibson, Dunn & Crutcher’s International Corporate and Global Finance Groups, Mr. Grinspan concentrates on mergers and acquisitions, and is active in cross-border acquisitions and joint ventures. He has advised multi-national corporations, including Tyco, SNIA, and Schlumberger, as well as investment funds such as Lehman Brothers and Apax. Before joining the Paris office in 1990, Mr. Grinspan spent nine years in the U.S., first as a student at Harvard Law School, then as a practicing attorney in New York.

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How to Determine the Optimal Capital Structure From an IR Perspective
Mark Meierhoffer, Head of Corporate Finance Group, DeMarche Associates

Discover what the appropriate capital structure should be, given the following considerations: a) internal expectations on performance and strategy; b) external expectations on interest rates and currency; c) competitive structure; d) risk appetite of management/board.

Mr. Meierhoffer is the former Chief Financial Officer and Senior Vice President of Finance for The Rival Company, a premier Kansas City-based manufacturer and distributor of household products. Prior to that position, Mr. Meierhoffer was Senior Vice President and Chief Operating Officer for DeMarche. He earned a Bachelor’s Degree in Business Administration from the University of Missouri and an MBA from Rockhurst University. Mr. Meierhoffer is a member of the Financial Executives Institute, the American Institute of CPAs and the Missouri Society of CPAs.

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