8th Annual Spanish Funding Conference | afme

8th Annual Spanish Funding Conference

02 Feb 2017 Gran Melia Fenix Hotel, Madrid

Speakers

Keynote speaker

  • Jonás Fernández Álvarez MEP

    Jonás Fernández Álvarez MEP

    Progressive Alliance of Socialists and Democrats, European Parliament

    Jonás Fernández Álvarez MEP

    Jonás Fernández Álvarez MEP

    Progressive Alliance of Socialists and Democrats, European Parliament

    Jonás Fernández Álvarez is a MEP in the Progressive Alliance of Socialists and Democrats. He is member of the Committee on Economic and Monetary Affairs and the Subcommittee on Security and Defence. In addition, he is a member of the parliamentary delegations with Russia, NATO and Latin America.

    Jonás Fernández Álvarez holds an Executive MBA from IESE Business School, a M.A. in Economics and Finance from CEMFI-Bank of Spain and a undergraduate degree in Economics from the University of Oviedo. He has completed his training with a program of Advanced Econometrics at the London School of Economics and Political Science and the Senior Executives in National and International Security at Harvard University.

    Professionally, Jonás joined as an analyst in economics and international politics in the consultancy firm Solchaga Recio & Asociados in 2005, chaired by former Spanish finance Minister Carlos Solchaga. Three years later he was promoted to the company´s board and later on, appointed as Chief Economist in 2014. Jonás has combined his work activity with teaching at the Universidad Carlos III (2007-10) and various entrepreneurial activities. In addition, he is a regular op-ed contributor to the main Spanish newspapers (El PaísCinco DíasLa Nueva España, etc.).

    Politically, Jonás Fernández was Secretary General of the Socialist Youth in Oviedo (1998-2000) and served on the executive board of the Socialist Youth in Asturias (2000-01). During the college years he was also a member of the Senate of the Universidad de Oviedo as a student representative. More recently, he has participated in the design of the electoral programs in the 2008 and 2011 legislative elections, and was a policy advisor of PSOE (2004-05). Moreover, he is an associate in various national and international foundations. Jonás is also a participant of the Political Leadership Program of the Aspen Institute, chaired by Javier Solana, former EU Higher Representative and the Workshop in Global Leadership 2016 at Harvard University.

  • Massimiliano Rimarchi

    Massimiliano Rimarchi

    Policy Expert, European Banking Authority

    Massimiliano Rimarchi

    Massimiliano Rimarchi

    Policy Expert, European Banking Authority

    Massimiliano Rimarchi is a policy expert within the credit market and operational risk unit, regulation department, of the European Banking Authority (EBA), where he mainly works on issues related to covered bonds and securitisation.

    Before joining this unit, Massimiliano worked in the impact assessment team of the EBA where he carried out impact assessment analysis of several technical standards and guidelines, including the EMIR related standards on central counterparties and OTC derivatives.

    Before joining the EBA, Massimiliano was senior associate in the UK Financial Services Authority, where he mainly worked on the mortgage market review. Massimiliano is an Italian citizen and holds a Phd in economics from the European University Institute (Florence).

Speakers

  • Gregorio Arranz

    Gregorio Arranz

    Secretary General, Spanish Mortgage Association

    Gregorio Arranz

    Gregorio Arranz

    Secretary General, Spanish Mortgage Association

    Gregorio Arranz is currently an independent lawyer, specialized in financial legislation. Since 2009 he also runs the post of Secretary General of the Spanish Mortgage Association.

    Previously, he worked in the Public Administration, firstly as Abogado del Estado and between 1990-1995 as Deputy Director General for Financial Legislation and Policy in the Spanish Treasury.

    Between 1995-2003, he held the position of Secretary General of AB Asesores and later Morgan Stanley España.

    In the past, Gregorio was also a member of the Banking Advisory Committee of the European Commission and of the CNMV (National Securities Market Commission) Consultative Committee.

  • Anna Bak

    Anna Bak

    Manager, Securitisation, AFME

    Anna Bak

    Anna Bak

    Manager, Securitisation, AFME

    Anna Bak is a Manager, Securitisation Division at The Association for Financial Markets in Europe (AFME) where she is responsible for developing positions on a wide variety of securitisation related topics, and then representing those positions to the European institutions, international organisations as well as a wide range of national authorities.  

    Anna joined AFME in February 2014 to work at the Securitisation Division. She is involved in negotiating industry standpoints on many critical regulatory initiatives, including calibration of the Basel capital and liquidity rules, Solvency 2 rules, derivatives and transparency rules as well as establishing “simple transparent and standardised securitisation” under the European securitisation framework. 

    Earlier in her career Anna was a transaction lawyer in Amsterdam. Previously, she worked at TMF Group and later at Citco where she spent 6 years working on variety of ABS transactions, including RMBS, SME and auto-loans structures. Anna holds an LL.M degree from the University of Utrecht (the Netherlands) with specialisation in European Law and a Master of Law degree from the University of Lodz (Poland).

  • Neil Day

    Neil Day

    Managing Editor, The Covered Bond Report

    Neil Day

    Neil Day

    Managing Editor, The Covered Bond Report

    Neil Day has been Managing Editor of The Covered Bond Report since launching the publication in February 2011. Neil was previously founding editor of The Cover and worked for more than 10 years at EuroWeek (now GlobalCapital), including a stint as editor. Neil also runs a publication on bank capital and has written about a wide range of capital markets topics. He holds a degree in Philosophy from the London School of Economics.

  • Steve Gandy

    Steve Gandy

    Managing Director, Head of ARCO Notes and Structuring, Santander Global Corporate Banking

    Steve Gandy

    Steve Gandy

    Managing Director, Head of ARCO Notes and Structuring, Santander Global Corporate Banking

    Steve Gandy is Managing Director, Head of DCM Solutions, for Santander Global Banking and Markets. He has 24 years’ experience in the securitisation industry, having completed transactions in Europe, United States, Latin America and Asia. He serves on the Board of Directors of the European Data Warehouse, and has also served as Member Chairman of AFME’s Securitisation forum, where he participated in the development of the PCS initiative.

    During his 35 years of banking experience, Steve held a number of management positions, with postings in the US, Mexico, Hong Kong and Paris. 

    He holds a Bachelors of Arts degree in Linguistics from the University of Texas, and an MBA from Thunderbird, the American Graduate School of International Management, where he also won the Barton Kyle Young Award.

  • Juan David Garcia

    Juan David Garcia

    Senior Director, Structured Finance, Fitch Ratings

    Juan David Garcia

    Juan David Garcia

    Senior Director, Structured Finance, Fitch Ratings

    Juan David Garcia is a Senior Director within Fitch Ratings’ European Structured Finance Group, based in Madrid. He manages the team that conducts the rating analysis of structured finance transactions in Spain and Portugal, and also covered bonds in Spain.

    Juan re-joined the agency in 2011 after previously working at Deutsche Bank as head of the Independent Valuations team covering European securitisation bonds and illiquid portfolios. Prior to that, Juan worked at Fitch Ratings in London and Madrid between 2004 and 2008, and at ING Bank and Banco Santander in Spain and Colombia respectively, as a Corporate Credit Analyst. Juan has also worked as a Business Consultant at Accenture in the UK. 

  • Miguel Garcia de Eulate

    Miguel Garcia de Eulate

    Head of Treasury and Capital Markets, Caja Rural de Navarra

    Miguel Garcia de Eulate

    Miguel Garcia de Eulate

    Head of Treasury and Capital Markets, Caja Rural de Navarra

    Miguel Garcia de Eulate, is Head of Treasury and Capital Markets at Caja Rural de Navarra (CRN, Pamplona) and is responsible for liquidity management and funding. CRN is a member of UNACC and of the Spanish Caja Rural Group Association (AECR, Madrid).

    Previously he has worked in various positions in the Credit Risk and Corporate departments for this Spanish regional cooperative bank and in 1993 graduated in Economics from Deusto University (Bilbao).

    Miguel is a Member of the Financial Markets Working Group of the European Association of Cooperative Banks (EACB, Brussels).

  • Daniel Herrero

    Daniel Herrero

    Founding Partner, Oquendo Capital

    Daniel Herrero

    Daniel Herrero

    Founding Partner, Oquendo Capital

    Daniel Herrero has over 20 years of experience in Direct Lending and Corporate Finance. In 2007 Daniel co-founded Oquendo Capital, the only Spanish mezzanine Fund focused on small and medium-sized companies. Since then, the Firm has invested over €230 millions in 20 companies and is currently about to complete the first closing of its Third Fund.

    Prior to Oquendo, Daniel co-founded an independent Corporate Finance firm. Between 1995 and 2000 Daniel developed his professional career in London, holding different positions in the M&A practice of Deutsche Bank, Bankers Trust and Merrill Lynch. Daniel is a graduate in Finance by the CUNEF of Madrid. 

  • Richard Hopkin

    Richard Hopkin

    Managing Director, Head of Fixed Income, Capital Markets, AFME

    Richard Hopkin

    Richard Hopkin

    Managing Director, Head of Fixed Income, Capital Markets, AFME

    Richard Hopkin is Head of Fixed Income and a managing director in the Securitisation Division. He joined AFME in June 2010 after a 25 year career in the law and finance during which he held leadership positions at J.P. Morgan, Deutsche Bank and Société Générale. He has originated, structured and distributed securitisations funding the real economy through a wide variety of asset classes including mortgages, credit cards, auto, consumer and SME loans, from across Europe, Australia and the US. Richard has led and negotiated industry positions on many critical regulatory initiatives in recent years, including calibration of the Basel capital and liquidity rules and establishing “simple transparent and comparable securitisation” under the Basel Task Force on Securitisation Markets, as well as rules on risk retention and transparency.  A frequent visitor to Brussels, he has helped rehabilitate the securitisation industry in the eyes of key European policymakers and continues to be a strong advocate for the benefits of securitisation for the European economy.

    Born and brought up in Wales, Richard read law at Cambridge University and before his investment banking career qualified as a solicitor with leading international law firm Clifford Chance.

  • Gordon Kerr

    Gordon Kerr

    Head of European Structured Finance Research, DBRS

    Gordon Kerr

    Gordon Kerr

    Head of European Structured Finance Research, DBRS

    Gordon Kerr heads the European Structured Finance Research at DBRS. He publishes commentary and insight on all aspects of secured investing, and updates the market on issues concerning covered bonds and securitisation in Europe.

    Before DBRS, Gordon spent nine years in research and trading at Citi – covering securitised products, covered bonds and corporate credit. He is a graduate of the Schulich School of Business in Toronto, Ontario, Canada, where he obtained a Masters in Business Administration. He also holds a science degree from Acadia University.

  • Jose Ramon Lopez

    Jose Ramon Lopez

    Relationship Manager, Corporate Banking, Bankia

    Jose Ramon Lopez

    Jose Ramon Lopez

    Relationship Manager, Corporate Banking, Bankia

    Jose Ramon Lopez is Relationship Manager, Corporate Banking at Bankia.With over 17 years of professional experience, he is an expert in corporate banking, dealing with corporate clients and negotiating focus on Return On Assets and Return on Equity criteria. Responsible for a portfolio of companies from different sectors like Oil and Gas, Paper Mills, and Security, has intermediated in numerous syndicated loans and restructuring debt processes.

    During seven years at Bankia he was advising small businesses to access the latest funding schemes in close partnership with Government (ICO) and Public Owned Institutions (EIB). He holds an Executive MBA from IE Business School and a Law Degree from Universidad Autonoma. 

  • Agustín Martin

    Agustín Martin

    Head of European Credit Research, BBVA

    Agustín Martin

    Agustín Martin

    Head of European Credit Research, BBVA

    Agustín joined BBVA in October 2005 and has held several different roles within the bank’s European Credit Research team, including as a Research Analyst in structured credit and investment-grade industrial corporates. Since 2010 Agustín has headed BBVA’s research into covered bonds and ABS. In the covered bonds space Agustín is a frequent collaborator and author of research papers for flagship publications and websites, including The Cover, The Covered Bond Report, the European Mortgage Federation and IFLR. He is also a frequent panellist and collaborator with the European Covered Bond Council and its related publications.

  • Angel Martínez-Aldama

    Angel Martínez-Aldama

    President, INVERCO

    Angel Martínez-Aldama

    Angel Martínez-Aldama

    President, INVERCO

    Angel Martínez-Aldama is the President of INVERCO, the trade association of asset management (Collective Investment Schemes –CIS-, Pension Funds and Individual Portfolio Management Companies.

    He joined with INVERCO in 1995 as Research Director, in April 2010 he was nominated as Managing Director and in June 2015 was nominated President.

    In this role Mr. Martínez-Aldama maintains regular contacts with CNMV (Spanish Stock Exchange Commission), DGSFP (Spanish Insurance and Pension Funds Supervisor), State Tax Offices, Bank of Spain and other official entities directors.  He is also the Secretary General for the INVERCO Ethical Committee and Director if the INVERCO Observatory.

    Angel was appointed member of it’s the Management Committee of EFAMA (European Funds and Asset Management Association) from April 2005 until October 2007 and Member of the Board of Directors from April 2005 to October 2007. He has also been Member of the Statistical Committee, Member of the Classification and Performance Committee (1997-1999), member of the Pension UCITS Committee, and member of the Euro Committee (1997-1998).

    Since May 2013, he was designated Member of EFAMA’s Management Committee, Member of the Board of Directors and Member of the Audit Committee.

    With Pensions Europe, Angel was a Member of the Board of Directors from 1996 to 2013, Vice Chairman from October 2001 until October 2007 and in October 2007 was appointed Chairman, until October 2010.

    Angel has also previously been a Member of the Board for the EAMA (European Asset Management Association), FIAP (International Federation of Pension Funds Management Administrators) and is a current board member with FIAFIN (Iberoamerican Federation of Mutual Funds) and CEOE (Spanish Employers Association.

    Angel is a graduate in Law and Business Administration from ICADE (Pontificia Comillas University).

  • Luis Merino

    Luis Merino

    Head of Financials and Structured Finance, Caixabank Asset Management

    Luis Merino

    Luis Merino

    Head of Financials and Structured Finance, Caixabank Asset Management

    Luis Merino has more than 20 years of experience in financial markets. At Caixabank Asset Management (former InverCaixa), the leading asset manager in Spain, with €50bn under management, Luis is Head of financial products, including covered bonds and securitisations. In 2009, he served as a chairman at the AFME & ESF Covered Bond and ABS Conference in Madrid, and has participated in many panels and presentations in events like the Covered Bond Congress in locations like London or Dusseldorf. As a financial regulation specialist, Luis also participated in several technical groups organized by BBVA, Credit Agricole or law firms like CMS Albiñana. Additionally, Luis has participated in several meetings of the Council of the European Securitization Forum in Madrid. Before joining Caixabank in 1998 Luis worked as a fixed income analyst and trader on treasury desks.

    For more than 17 years Luis has been a professor of fixed income portfolio management in several postgraduate and in-company programs at IEB (Instituto de Estudios Bursatiles), the leading official center of financial training in Spain and UNED University. Luis holds a Bachelor’s degree in Business Administration from University San Pablo CEU in Madrid and a Master in Management from Harvard University with specialization in international finance in Boston (USA).

  • Sergio Morales Arruga

    Sergio Morales Arruga

    Executive Director, Active Credit Portfolio Manager, Banco Santander

    Sergio Morales Arruga

    Sergio Morales Arruga

    Executive Director, Active Credit Portfolio Manager, Banco Santander

    Sergio Morales Arruga has been responsible for managing the Structured Credit Portfolio at Banco Santander since 2008, investing in ABS, CLOs, index tranches and bespoke transactions.

    Prior to joining Santander, he worked as a Credit Risk Manager at Caja Madrid covering both US and LatAm markets (PF and corporates).  Prior to this, he was previously responsible for the credit analysis of the leveraged finance activity in Europe since 2001.

    Sergio holds an MSc in Telecommunication Engineering from the Centro Politécnico Superior, Universidad de Zaragoza, Spain and he is a CFA® charterholder.

  • Luis Mozos

    Luis Mozos

    Vice President, Senior Credit Officer, Moody's

    Luis Mozos

    Luis Mozos

    Vice President, Senior Credit Officer, Moody's

    Luis Mozos joined Moody’s Investors Service in 2005. He is currently based in Madrid as VP - Senior Credit Officer in the Structured Finance team.

    Prior to joining Moody’s, Luis had various responsibilities in Accenture as senior consultant in the technology sector and in ISDEFE as technical director of the system integration project at the new Terminal 4 in Madrid Airport.

    Luis holds a Master degree in Computer Science by the Universidad Complutense of Madrid and a Master degree in Marketing (ITM) by the Universidad Autónoma of Madrid, both in Spain.

  • Jean Naslin

    Jean Naslin

    Executive Director, Head of Public Affairs, CaixaBank

    Jean Naslin

    Jean Naslin

    Executive Director, Head of Public Affairs, CaixaBank

    Jean Naslin is an Executive Director, Head of Public Affairs at CaixaBank.

    After 15 years in the oil industry, both in Europe and in the US, he was General Counsel of Eurotunnel in London, practised European Law in Brussels with the French law firm Gide Loyrette Novel and then joined Group BPCE in Paris as General Counsel and subsequently in charge of European and International Affairs.

    He joined Caixabank in Barcelona in February 2016 as Executive Director, Head of Public affairs in Barcelona. He chairs the bank Regulation Committee.

    Jean Naslin is Vice Chairman of the European Banking Industry Committee and an Avocat at the Barreau de Paris.

  • Harry Noutsos

    Harry Noutsos

    Global Head of ABS, ING Bank

    Harry Noutsos

    Harry Noutsos

    Global Head of ABS, ING Bank

    Harry Noutsos has structured over €100bn of RMBS, CMBS, ABS and CDO transactions during his career. Since 2013, he has served as Global Head of ABS for ING Bank, responsible for its ABS investment portfolio and reporting directly to the CIO of ING Bank Treasury. Prior to this, he managed ING Direct’s ABS portfolio, based in Amsterdam, after joining the bank in 2011.

    Before ING, Harry was based in London, working for Santander, where he built the structuring and modelling capabilities of the securitisation team. Before this, he was a Vice President at Bank of America where he was responsible for modelling and structuring consumer ABS, RMBS, CMBS, CDO and trade receivables, as well as originating transactions for the bank’s own conduits.

    Prior to Bank of America, Harry worked for CSFB in London, where he strengthened the research and modelling capabilities of the securitisation team. He has a master’s degree in Financial Engineering and Quantitative Analysis from the ISMA Centre in the UK. He speaks fluent Greek, English and Polish. 

  • Pablo Portugal

    Pablo Portugal

    Director, Advocacy, AFME

    Pablo Portugal

    Pablo Portugal

    Director, Advocacy, AFME

    Pablo Portugal is Director at AFME’s Public Policy and Advocacy Division based in Brussels. His main focus is analysis and engagement across Europe on capital markets and securities regulation, market liquidity, bank structural reform and shadow banking. Prior to joining AFME, Pablo was engaged for six years with the Institute of Chartered Accountants in England and Wales, where he worked on a number of financial reporting, auditing and financial sector areas. His previous experience includes roles in Brussels-based policy organisations and the United Nations. He has contributed to various business and finance publications and speaks English, Spanish, French and Italian. Born in Peru, Pablo he holds a BSc Econ (first class) from the University of Wales, Aberystwyth, and a Masters Degree (with distinction) from the London School of Economics.

  • Pablo Sánchez

    Pablo Sánchez

    Structured Finance Manager, European Investment Fund

    Pablo Sánchez

    Pablo Sánchez

    Structured Finance Manager, European Investment Fund

    Pablo Sánchez is a Structured Finance Manager at EIF with direct responsibility on the ABS investment operations in Iberia and Greece.

    Before joining the EIF, Pablo worked for Banco Santander having structured credit sales and structuring responsibilities within the Treasury and Capital Markets division.  He worked in innovative funding and regulatory transactions for institutional clients across Europe.

    Prior to joining Banco Santander, Pablo had various responsibilities in Banco Español de Crédito in the Treasury and Capital Markets area as well as in the Credit Portfolio Management team. While in Spain, Pablo was a frequent lecturer in various business schools.

    Pablo holds a bachelors degree in Telecommunications Engineering by the Universidad Politécnica de Madrid and an MSc. from King’s College London.

  • Juan Manuel Santos-Suarez Márquez

    Juan Manuel Santos-Suarez Márquez

    Member of the Board, CNMV

    Juan Manuel Santos-Suarez Márquez

    Juan Manuel Santos-Suarez Márquez

    Member of the Board, CNMV

    Juan Manuel Santos-Suárez was appointed as CNMV Board Member in May 2014.

    Prior to his appointment, he was Chairman of Avalmadrid, SGR (2008-2014). He has also been Deputy Minister of Finance of the Community of Madrid (2007-2008) and Deputy Minister of Modernisation and Quality of Services of the Community of Madrid (2003-2007).

    Between 1998 and 2002, he held the position of Secretary General of Merrill Lynch Securities Agency (Private Banking) and between 1987 and 1995, he was Director and CEO of the fund management companies and the distribution network for private activity at AB Asesores Bursátiles.

    He holds a degree in Law (ICADE E-3) from the University of Deusto (1975) and a MBA from IESE (1978).

  • Pablo Sinausia

    Pablo Sinausia

    Senior Economist, Bank of Spain

    Pablo Sinausia

    Pablo Sinausia

    Senior Economist, Bank of Spain

    Pablo Sinausia joined the Bank of Spain after finishing his degree in Business Administration He worked in different departments at the bank until 1995, when he entered the private sector as CEO and manager of several companies. Pablo rejoined the Bank of Spain in 2010 as Senior Economist in the Regulation Department. Currently, he is the Bank of Spain's representative at the Basel Committee (Ratings and Securitisation Workstream), the EBA (Network on ECAIs, Network on Equivalence, and Subgroup of Securitisation and Covered Bonds), the European Council (Working Party on Financial Services. Securitisation) and the SSM (Subgroup on SRT).

  • José Antonio Trujillo

    José Antonio Trujillo

    Chief Executive Officer, InterMoney Titulización

    José Antonio Trujillo

    José Antonio Trujillo

    Chief Executive Officer, InterMoney Titulización

    José Antonio Trujilo is Chief Executive Officer at InterMoney Titulización.

    Since 2003, CEO of InterMoney Titulización SGFT, a specialized securitization services company, and from 1992, CEO of a similar company (TdA). Has maintained executive positions in other financial institutions (Gesmosa SA, Ahorro Corporación SA) and has an extended experience as consultant to banking and public institutions on securitization and infrastructure financing; among others, Inter American Development Bank, World Bank, Bank of Spain, Ministry of Science and Technology of Spain and the Government of Navarra. Author of several books and papers on economic theory and finance. Holds a degree in Economics by the University Complutense of Madrid and a Ph.D. by the University of Minnesota (1980). Tenured professor of Economic Theory, on extended leave.

  • Victoria Webster

    Victoria Webster

    Director, Fixed Income, AFME

    Victoria Webster

    Victoria Webster

    Director, Fixed Income, AFME

    Victoria is AFME’s Director of Fixed Income, having joined the association in November 2015. She is responsible for the AFME Primary Dealers, Credit and Covered Bond Boards, focusing on developments in regulation, policy and market structure. Victoria has more than 19 years of fixed income experience in banking, vendor sales, broking and market making. Prior to joining AFME, Victoria worked at Barclays Investment Bank in a role focused on fixed income electronic trading.

  • Jorge Yzaguirre

    Jorge Yzaguirre

    Markets Director, Equities, Fixed Income and Derivatives, Bolsas y Mercados Españoles (BME)

    Jorge Yzaguirre

    Jorge Yzaguirre

    Markets Director, Equities, Fixed Income and Derivatives, Bolsas y Mercados Españoles (BME)

    Jorge Yzaguirre is Markets Director, Equities, Fixed Income and Derivatives and a Member of Coordination Committe at Bolsas y Mercados Españoles (BME).

    He is also Chairman of the board of Director in AIAF. Corporate Debt Market, a member of the Board of Directors in BME Market Data and a member of the Board of Directors in BME Servicios Corporativos.

    Jorge is currently a member of the CNMV Consultative Committee, a former Chairman of the board of Directors in Visual Trader Systems and of the ESMA Secondary Markets Standing Committee Consultative Working  Group.

    Jorge holds a Ph.D. in Economics and Business Administration from Universidad Autónoma de Madrid and a Master’s Degree in Financial Management and Investment Analysis from Universidad Complutense de Madrid.  He is now an Associate Professor in International Finance and Spanish Financial System- Universidad Carlos III.