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8th Annual Innovations in Trade & Export Finance Conference
The 8th Annual Innovations in Trade & Export Finance Conference, held in New York at the Westin at Time Square Hotel, brought together the North American trade finance community to discuss the key issues faced by this increasingly important sector.
As emerging markets take a greater focus on the global stage and the questions surrounding the functionality of ‘established’ markets remain unanswered, the conference was well timed to act as a meeting point for international decision makers to tackle wide ranging issues, such as the impact of volatile global markets on North American trade flows, how corporates are navigating regional and global challenges, the availability of support mechanisms for SMEs, current risk appetites of trade financiers and the role of export finance and ECAs in providing liquidity for North American exports.
The keynote address was delivered by Mr. James Glassman, Managing Director & Head Economist at J.P. Morgan, who outlined the impact of both the eurozone crisis and the importance of emerging markets for North America organisations looking to realign their operational priorities ahead of changing global dynamics.
There was a prominent focus throughout the day on corporate perspectives, with Boeing, Bombardier, Glencore and GE Capital giving their unique insights into supply chain management and funding requirements – as well as what they really wanted from their banks. This was juxtaposed with a dedicated afternoon stream for the emerging markets, with Expixp giving a case study on the opportunities Africa holds as an export destination, ANZ Americas highlighting the developments within Asia-Americas trade flows as well as a highly experienced panel discussion on the intra-regional trade across the Americas – which included Standard Chartered, Ace Global Markets, Bradesco New York, Hughes Hubbard & Reed and the developmental institutions, IFC and IADB.
As with all Exporta events, networking was a key theme throughout the day. The event provided the ideal setting for peer-to-peer networking amongst key decision makers, with new business relationships being formed as well as the chance to meet old friends.
The conference welcomed support by J.P. Morgan, Bolero, Pinnacle Solutions, Codix, as well as institutional support from the IFC, AIDB, ATFA, FITA and Berne Union.
North American trade leaders meet in NYC to discuss emerging opportunities
Exporta Group, the market leading independent information provider for the financial services industry, returned to New York City on June 12, 2013 for the North America Trade & Export Finance Conference.
The 9th annual conference in this long established series saw extensive discussion on the opportunities and challenges being posed to the region’s business leaders and financiers as increased emerging markets trade is sought to combat the economic stagnation being experienced by North America’s primary trade partners.
The conference opened with keynote speaker Joseph Lupton, J.P. Morgan’s Senior Global Economist, suggesting that the green shoots emerging across the regional economy point to the coming of a fully established recovery in 2014, while highlighting a domestic corporate sector predominantly characterised by good health and cash-rich balance sheets.
“Notwithstanding the ongoing economic recession, some US companies are enjoying robust business growth, in many cases by expanding their international sales,” added Gary Mendell, President of Meridian Finance Group on the sidelines of the event. “The US represents less than 25% of global GDP and less than 5% of world population, so it stands to reason that US companies may find more customers overseas than domestically. But global demand for credit is also on the rise, and therein lies the challenge for many US corporates, and their banks. This conference is a welcome and timely forum for trade finance players to compare notes and to share solutions for bringing international trade transactions to fruition.”
A mixture of top tier corporate and banking supply chain experts drew the distinction between supply chain financing as a key tool for the realisation of strategic initiatives rather than an initiative in itself, stressing the importance that companies establish supplier programmes in a manageable localised market before embarking on ambitious global programmes. Discussion on the high-growth export finance market brought the support being provided by US Exim into the spotlight, citing low volumes in comparison with other ECAs such as China’s Sinosure. Key market players suggested that a level playing field across the global sector is potentially still two decades away, adding that the capital markets will play an increasingly significant role in the future of export financing.
The programme concluded with a lively panel of senior players from the Canadian market including representatives from Bombardier Aerospace, Scotiabank and CIBC citing the need Canadian banks to leading their clients in ‘thinking globally’ to diversify export markets. The strengthening Canadian dollar also provided cause for debate, where it was argued that a short-term reduction in export volumes would be offset by increased competitiveness in the long run resulting from the necessity for Canadian companies to rely on factors other than price to win business in the global marketplace.
With over 140 senior industry actors from across the regional and international markets in attendance networking played a prominent role, where the day’s proceedings were concluded with an evening reception providing a more informal setting for continuation of the day’s discussions.
08.00 Registration and refreshments
08.55 Chairman’s opening remarks
Dave Conroy, Managing Director, North America & Global Sales Head, J.P. Morgan
09.00 Analyzing the impact of volatile global markets on North American trade flows
James Glassman, Managing Director & Head Economist, J. P. Morgan
• Profiling the impact of global events, such as the eurozone crisis, on North American trade
• Is a long term perspective needed to bring confidence back to the market?
• Analyzing the increasingly significant role of exports for economic recovery
• How viable are emerging markets for North American organisations looking to expand?
09.30 Panel discussion: How are corporates navigating current regional and global challenges?
Moderator: Geoffrey Brady, Managing Director, Global Trade Sales North America, J.P. Morgan
Sean Martyn, Managing Director, Capital Markets, GE Capital
Jenny Herles, Assistant Treasurer, Credit & Trade Finance, Glencore
Tom Dillon, Director, Corporate Finance & Banking, The Boeing Company
• Affordable borrowing options: How easy is it to find funding in the current environment?
• To what extent have corporate priorities changed due to the destabilization of ‘established’ markets?
• Analysing the corporate perspective of emerging market risk and the potential return on investment
• Tailored approach: What products or solutions have banks created to assist corporate growth?
10.15 Networking break
11.00 Basel III: Why will clients have to pay more for access to cash?
Dan Taylor, Executive Director, Global Market Infrastructure, J.P. Morgan
• An update of the Basel committee’s perspective on trade finance
• To what extent will the new legislation affect liquidity and trade levels?
• What do clients need to know about the impact on their borrowing costs?
• What structures should clients put in place to prepare for Basel III?
11.30 What support mechanisms are available for SMEs?
Charles Tansey, Senior Vice-President, Small Business Group, US Exim Bank
• Profiling government initiatives to stimulate the North American SME sector
• What are the challenges for SMEs of finding funding and at the right price?
• Are financial institutions hindering SME growth by concentrating too much on the larger deals?
• For how long will the U.S. administration continue to supply liquidity for SMEs?
12.00 Panel discussion: How much risk are trade financiers currently prepared to take?
Moderator: John Weinshank, Senior Vice-President, Head of Trade Finance & Corporate Banking, China Construction Bank
Bruce Proctor, Trade & Supply Chain Product Executive, Bank of America Merrill Lynch
John Ahearn, Managing Director, Citi
Andrew Tananbaum, Executive Chairman, Capital Business Credit
Gregory Gilbert, Managing Director, Global Trade Risk, J.P. Morgan
Alexander Malaket, President, OPUS Advisory Services International
Dyanne Carenza, Vice-President, Product Development & Business Planning, Global Transaction Banking, Scotiabank
• North American institutions: The view from the ground on the current climate
• In which direction are corporate trade flows moving, and is this in line with expectations?
• What strategies are financial institutions developing regarding future liquidity shortages?
• To what extent has the lack of $US liquidity from Euro banks provided further opportunities for US institutions?
Choose between Stream A or Stream B
Stream A: Innovations in supply chain finance and solutions
Chairman: Dave Conroy, Managing Director & North America & Global Sales Head, J.P. Morgan
14.00 Automating the creation and presentation of trade documents to improve working capital
Amit Jain, Vice-President, Product Manager, Trade & Supply Chain, Bank of America Merrill Lynch
Kirk Lundburg, President & Chief Executive Officer, Trade Technologies
• Solving the export letter of credit documentation conundrum: Bank of America Merrill Lynch and Trade Technologies combined solution for risk mitigation, DSO improvement, cost reduction, visibility and control
• Using technology to defeat geography: Leverage automation for electronic creation and presentation of original UCP compliant documents anywhere around the globe
• Streamline trade documentation to improve efficiency and reduce DSO to 7 days or less
14.35 Panel discussion: Tracking innovations in trade finance solutions
Moderator: Alexander Malaket, President, OPUS Advisory Services International
George Andrianos, Managing Director, Regional Co-Head Supply Chain Management, Global Trade Solutions Americas, BNP Paribas
Valerie Colville, Principal, CC Solutions
Billy Quinn, Managing Director, Codix USA
John Nash, Global Head of Sales & Marketing, Pinnacle Solutions
Cameron Letters, Managing Director, Head of Global Transaction Banking, USA, Santander
• Profiling the innovative solutions and services being offered in trade finance
• How are banks and solution providers tailoring their products to suit current corporate demands?
• Where does the market stand on in-house or 3rd party solution formats?
• Has the increase in exports to emerging markets changed the products clients are using and preferring?
15.25 ePresentation: A game changer in trade finance
Arthur Vonchek, Chief Executive Officer, Bolero
• Analyzing the current landscape and future opportunities
• Ensuring value delivery to all parties
• What are the fundamentals of ePresentation?
• Cross industry initiatives: Integration with carrier networks
• BHP Billiton corporate case study
15.50 Networking break
Stream B: Opportunities and challenges within emerging markets
Chairman: Bruce Proctor, Trade & Supply Chain Product Executive, Bank of America Merrill Lynch
14.00 Case study: What opportunities does Africa hold as an export destination?
Vernon Darko, President, Equipxp
• Profiling the rise of Africa as a bilateral trade partner for North America
• Outlining success stories of American companies that have successfully set up in Africa
• Commodity focus: Where do the opportunities lie for expansion? And how can this be funded?
• What do exporters need to know about entering the African market?
14.30 Panel discussion: Assessing intra-regional trade across the Americas
Moderator: Brendan Herley, Director, Syndications, Capital Market, Americas, Standard Chartered Bank
Fredrik Murer, Head of Americas, Political Risk & Credit, Ace Global Markets
Andre Fernandes, Treasury Manager, Bradesco New York
Amy G. Dulin, Partner, Hughes Hubbard & Reed
Antonio Alves, Principal, Regional Head of Short-Term Finance, Americas, IFC
Joao Vianei da Silva, Lead Trade Finance Officer, Structured & Corporate Finance, IADB
• Where do opportunities lie for international institutions?
• How has currency instability impacted appetite for Latin American risk?
• How do opportunities in infrastructure development weigh up against regional levels of political risk?
• The impact of pricing volatility in the Latin American commodities market: Balancing opportunities and costs
15.20 Examining developments within Asia-Americas trade flows
William Evans, Executive Director, Head of Transaction Banking, ANZ Americas
• Tracking the developments and key changes of Asia-Americas trade flows and subsequent financing
• How are current trade trends within Asia widening the export potential for the Americas?
• What role do U.S. and European FIs (both private and developmental) have to play?
• Potential slowdown: Is the ongoing eurozone crisis the biggest threat to growth in Asia?
• Considering the future trade and financing implications of increasing RMB settlements
15.50 Networking break
Final Session: Main Room
16.20 Exploring the reality and meaning of supply chain finance
Michiel Steeman, Supply Chain Finance Community Director, Nyenrode Business University
• Exploring the scope of supply chain finance
• What is the true role of dominant multinationals?
• How can they leverage their purchase power and creditworthiness to optimize supply chains?
• Can we expect the banking sector to benefit? Or will it result in loss of revenue?
16.40 Panel discussion: The role of export finance and ECAs in providing essential liquidity for North American exports
Moderator: Lillian Labbat, Managing Director, Export Finance Advisory Americas Head, J.P. Morgan
David Vandenberg, Director, Structured Finance, Bombardier Aerospace
Al Hamdani, Head, Structured & Project Finance Group, EDC
John Schuster, Vice-President, Project & Structured Finance Head, US Exim Bank
John Neblo, Senior Vice-President, PEFCO
Mini Roy, Director, Head of Americas, Export & Agency Finance, Structured Trade & Commodity Finance, SMBC
• Providing more funding or taking more risk? Analyzing the future development of ECAs
• How can banks and ECAs collaborate to ensure future product relevancy?
• What are the alternative sources of liquidity for export finance and what role do the capital markets play?
• Should governments support transportation finance? And if so, why?
• What role do direct loans have to play in ECA finance?
• Considering future pricing trends and the impact of Basel III
17.30 Close of conference followed by evening drinks reception
The Westin270 West 43rd Street at Eighth
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