Tuesday 24 September 08.00-08.45 Registration & Coffee Galilei Foyer and Cristalli Room OPENING SESSIONS Galilei Room 08.45-08.50 Euromoney Welcome: Helen Wyles, Deputy Director, Euromoney Conferences 08.50-09.05 Keynote Speech: Luigi Ferraris, Chief Financial Officer, Enel 09.10-10.05 PANEL I: Buying Into Italia S.p.A • The Eurozone crisis: has Italy managed to insulate itself from the worst? • What kind of structural reforms are needed in Italy? How should they be meshed with the need for fiscal consolidation? • How can Italy be made more attractive for overseas investment? • Is Italy ready for overseas investment from fast-growing countries in Asia and elsewhere? Moderator: Mark Johnson, Editor, Euromoney Conferences Speakers: Patrick Barbe, Chief Investment Officer, Euro Sovereign and Aggregate, Fixed Income, Portfolio Manager, BNP Paribas Asset Management Andreas Berndt, Executive Vice President and Portfolio Manager, PIMCO Luca Bertalot, Head, European Covered Bond Council Eric Brard, Global Head of Fixed Income, and Member of the Executive Committee, Amundi Louis Gargour, Chief Investment Officer, LNG Capital Michael Immordino, Partner, White & Case 10.05-10.35 Interview with: Vittorio Ogliengo, Head of Corporate & Investment Banking Italy and Head of Corporate & Investment Banking International, UniCredit Interviewed by: Jon Hay, Corporate Finance Editor, EuroWeek Interview with: Paolo Alberto De Angelis, Deputy General Manager, Head of the Corporate Division, BNL Interviewed by: Jon Hay, Corporate Finance Editor, EuroWeek 10.35-11.05 Coffee Break Cristalli Room 11.05-11.20 Interview with: Maria Cannata, Director General of Public Debt, Ministry of Economy and Finance, Italy Interviewed by: Mark Johnson, Editor, Euromoney Conferences 11.25-12.10 12.15-13.00 Workshop: Funding Growth and M&A Opportunities for Italian Companies Hosted by: BNP Paribas Galilei Room • Capital markets funding for non-investment grade issuers • • Workshop: Credit Risk Disintermediation of the Banking System: A Positive Trend Hosted by: Societe Generale Corporate & Investment Banking Cartesio Room • The resurgence of the Italian sub-investment grade bond market Financing the real economy through ‘microbonds’: a useful tool for the Italian banking system • Pros and cons of bond financing for nonfrequent issuers Synthetic securitisation: a tool for Italian banks and investor appetite • Project bond opportunity for investors Moderator: Morya Longo, Journalist, Il Sole 24 Ore Speakers: Elena Lodola, Head of Leveraged Finance Italy, BNP Paribas Pietro Masera, Director, CVC Capital Partners Pietro Raguso, High Yield Debt Capital Markets, BNP Paribas Giovanni Sartor, Chief Financial Officer, Cerved Antonio Tartaro, Chief Financial Officer, IVS Group Gabriele Vianello, Head of Primary Market Italy Fixed Income, BNP Paribas Moderator: Massimo Bianchi, Managing Director, Head of Debt Capital Market Origination, Financial Institutions Italy, Societe Generale Corporate & Investment Banking Speakers: Paolo Altichieri, Head of Finance, Banca Popolare di Vicenza Lucia Silvestrini, Director, Institutional – Insurance Companies, Societe Generale Corporate & Investment Banking Olivier Vincens, Director, Structured Credit Solutions, Societe Generale Corporate & Investment Banking Workshop: Bonds for Mid-Cap Corporates: A Road Map - What Has Been Done So Far and What Still Needs to be Done Hosted by: UniCredit Workshop: SME ABSs and SME Covered Bonds Hosted by: Crédit Agricole Corporate and Investment Bank Cartesio Room Galilei Room • More Italian corporates are approaching the Capital Market • Regulatory challenges for the European SME ABS & Covered Bonds Market • Viewpoint of the issuers and investors • The issuers viewpoint • What is needed to create an asset class? • Investor appetite for collateralised securities • How is the relationship between bank and corporate changing? Moderator: Andrea Cabrini, Managing Editor, Class CNBC Speakers: Marco Bigatti, Group Finance Director, Luxottica Nicolò Bocchin, Portfolio Manager, Aletti Gestielle Alfredo Maria De Falco, Head Financing and Advisory Italy, UniCredit Luca Falco, Head of Debt Capital Markets Italy, UniCredit Ugo Giorcelli, Chief Financial Officer, Amplifon Luca Oglialoro, Group Finance and Treasury Director, Indesit 13.00-14.15 Lunch Cristalli Room Moderator: Gabriele Sacerdote, Head of Global Markets, Italy, Crédit Agricole Corporate and Investment Bank Speakers: Paolo Altichieri, Head of Finance, Banca Popolare di Vicenza Filippo Casagrande, Director of Investments, Generali Investments Europe Giorgio Erasmi, Head of Funding, UBI Banca Maurizio Gozzi, Head of Italy Financial Institutions Debt Capital Markets, Crédit Agricole Corporate and Investment Bank Sergio Nicoletti-Altimari, Deputy Head of the Central Bank Operations Department, Banca d’Italia George Passaris, Head of Securitisation, European Investment Fund (EIF) Andrea Torri, Central Finance Director, ICCREA AFTERNOON SESSIONS Galilei Room 14.15-15.05 PANEL II: Future of Bank Capital for the Italian Banking System • What is the right mix going forward of core equity/subordinated debt in Italy? • Within subordinated debt what role is best for traditional Tier 2 and additional Tier 1? • Will CoCos play a role in Italy? • What is the most efficient structure to deal with the threat of bail-in? Should Tier 3 or senior bail-in bonds be used to counter the risk? • What is the level of investor appetite for Italian bank debt? Moderator: Mark Johnson, Editor, Euromoney Conferences Speakers: Waleed Bahjat El-Amir, Head of Group Strategic Funding and Portfolio, UniCredit Paola Leocani, Partner, White & Case Samuel López Briceño, Senior Investment Analyst, Fixed Income Credit Research, Vanguard Asset Management Niels Slikker, Sovereign and Financials Analyst, Observatory Capital Damien Saunders, FIG DCM, BNP Paribas 15.05-16.00 PANEL III: Reshaping the Capital Structure of Italian Industry • The development of alternative sources of finance for Italian companies • What role can the capital markets play in returning the Italian economy to growth? • The Decreto Sviluppo and mini bonds: how does the market look one year on? • How important will credit funds be? • The loan market for Italian companies in 2013 and beyond – finding the new normal • Will loan volumes rebound – will we see more liquidity? • What does all the above mean for the relationship between banks and corporate borrowers? Moderator: Jon Hay, Corporate Finance Editor, EuroWeek Speakers: Eric Green, Co-head Middle Market Capital, Muzinich & Co Antonio Guadagnino, Head of Debt Capital Markets Corporate, Italy, Societe Generale Corporate & Investment Banking Anna Manghetti, Head of Financial Activities, Poste Italiane Sergio Molisani, Head of Capital Markets, Financial Planning and Risk Management, Snam Renato Panichi, Director Corporate Ratings, Standard & Poor’s Stefano Pierini, Head of Finance, Ferrovie Dello Stato Italiane 16.00-16.30 Coffee Break Cristalli Room 16.30-16.45 The Italian Corporate Finance Reform, One Year Later Keynote Speech: Stefano Firpo, Chief of Staff, Ministry of Economic Development Introduced by: Helen Wyles, Deputy Director, Euromoney Conferences 16.45-17.35 PANEL IV: Bond Markets: Global Backdrop to the Italian Story • What are Italian bond yields signalling for international risk perceptions of the country? • Can yields stabilize at a level that makes the Italian debt burden sustainable? • Are underlying Italian public finances improving quickly enough to meet the fiscal compact rules? • How big a threat are sub-national debt burdens – regional governments, state-owned entities – to overall fiscal consolidation? • What do unorthodox monetary policies in the Eurozone mean for Italian bond markets? • How can investors prepare for any monetary unwind? Moderator: Chris Ostrowski, Conference Director, Euromoney Conferences Speakers: Lucio Pench, Director of Fiscal Policy, Directorate-General for Economic and Financial Affairs, European Commission Philippe Rakotovao, Head of Corporate and Investor Clients Division, Crédit Agricole Corporate and Investment Bank Marco Valli, Chief Eurozone Economist, UniCredit 17.35 Close of conference Euromoney Conferences reserves the right to amend the programme and is not responsible for cancellations due to unforeseen circumstances. Euromoney Conferences accepts no responsibility for statements made verbally or in written material distributed by any of its speakers at its conferences. In addition, Euromoney Conferences is not responsible for any copying, republication or redistribution of such statements.