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Sessions

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Why Now?
Exchanges now trade only approximately 30% of the volume in their own stock. There are now upwards of 40 "dark pools," all with varying models. Unprecedented change in our financial markets and a transformation in equity research has occurred.
Actionable Takeaway Documents
  • Market Evolution Handout
  • Slide Deck

Session Material
Attendee access, log-in required
Effective IR in the New Capital Markets*
Sun - Jun, 3 | 1:00 pm - 3:00 pm
Location: 6D (Convention Center Level 6)
Category: Conference Workshop | Secondary Category: Capital Markets

Everything we thought we knew about the capital markets has drastically changed over the last ten years. This workshop will touch on the three pillars of our capital markets: trading, research and equity capital markets. In this workshop, we'll make sense out of all the recent changes in the capital markets, including timely topics like high frequency trading and alternative research and drill down to what it all means to the practice of investor relations. By the end of this seminar, you'll leave as a more powerful IRO.

Moderator/Lead Speaker:
Nicole Olson, Director, Investor Relations and Marketing
Liquidnet Holdings Inc.

Panelist(s)/Co-Speaker(s):
John Adam, Director, Equity Capital Markets
Liquidnet Holdings Inc.

Richard Barry, Vice President/Floor Governor
NYSE Euronext

Randall M. Hopkins, Managing Director
The NASDAQ OMX Group
    Learning Objectives:
  • Learn about the evolution and trends of equity research, including a discussion on alternative research providers
  • Increase your knowledge in capital markets and learn what pieces of information your management team and board might find insightful
 
 
* Draft description as of 6/28 3:51 pm, subject to change
 



Session Material
Attendee access, log-in required
Raising Capital: Outlook and Innovation*
Mon - Jun, 4 | 2:45 pm - 4:00 pm
Location: 6A (Convention Center Level 6)
Category: Capital Markets | Secondary Category: Regulations and Governance

For companies looking to raise capital, there's never been a better or worse time in the market. This session examines the outlook for raising debt and equity with a focus on the specific needs of emerging companies.

According to the recommendations published recently by the IPO Task Force, the number of successful IPOs from emerging companies has plummeted over the past 15 years. As a result, access to capital, and ultimately corporate growth, has been hindered.

At the same time, we've entered a period of innovation -- companies now have more options than ever to access the equity capital markets. This session will cover these developments, ranging from IPO alternatives to new offering structures to electronic capital markets platforms.

Moderator/Lead Speaker:
Theresa Molloy, Consultant
National Investor Relations Institute

Panelist(s)/Co-Speaker(s):
Amrit Agrawal, Managing Director, Head of TMT Capital Markets
Cowen and Company

Ted Hatfield, Co-CEO
Solebury Capital

Rob Malin, Head of Equity Capital Markets
Liquidnet Holdings, Inc.
    Learning Objectives:
  • Learn about innovations in the capital markets that provide new options to companies looking to raise equity capital in this environment
  • Understand the environment for companies looking to raise capital and anticipate likely issues for companies with debt in their capital structure, such as buybacks and paying down debt
  • Understand industry insights on how to restore effective access to capital for emerging companies, including public capital through the IPO market.
  • Learn four specific and actionable recommendations for policymakers to foster U.S. job creation by restoring effective access to capital for emerging growth companies.
 
 
* Draft description as of 6/28 3:51 pm, subject to change
 



Why Now?
Regulations including decimalization, Sarbanes-Oxley, Reg. NMS and Dodd-Frank have altered the manner in which stocks are traded. The reasons for trading stocks have changed dramatically and continue to shift. Today, only 15% of the trading volume is thought-based. How do IROs pick the right investors out of this crowd? The first step is to fully understand the market structure and trading behaviors.
Session Material
Attendee access, log-in required
IR Targeting & Investor Trading Behaviors*
Mon - Jun, 4 | 4:15 pm - 5:30 pm
Location: 6D (Convention Center Level 6)
Category: IR Marketing/Outreach | Secondary Category: Capital Markets

A growing numbers of hedge funds, sovereign wealth funds, index funds and exchange traded funds have changed the complexion of the capital markets and significantly increased trading volume. External factors, such as the recent global and financial crisis, add volatility to the trading markets.

Now, more than ever, corporate IR practitioners must understand the new players as well as the changing rules and factors influencing buy side trading behaviors in order to target effectively.

Moderator/Lead Speaker:
Anthony Takazawa, VP, Global Investor Relations
EMC Corporation

Panelist(s)/Co-Speaker(s):
Jason A. Lenzo, Director, Equities and Fixed Income Trading
Russell Investments

Tim Quast, Managing Director
ModernIR

David Weild, Senior Advisor
Grant Thornton LLP
    Learning Objectives:
  • Understand today's markets and the effect of market rules on the buy side
  • Apply knowledge of market structure to IR programs, specifically targeting and outreach
 
 
* Draft description as of 6/28 3:51 pm, subject to change
 




Sponsored Session provided by Bloomberg
Session Material
Session material
not yet submitted
Bloomberg: Increasing Ties in the Emerging Markets*
Tue - Jun, 5 | 7:00 am - 8:15 am
Location: 6D (Convention Center Level 6)
Category: Breakfast Brief | Secondary Category: Capital Markets

The economic might of the emerging markets has made them a destination for investments as well as a major source of capital around the world. In this breakfast briefing, we'll examine the increasing business and investment ties between the developed and emerging markets—paying particular attention to the unique challenges and opportunities Investor Relations professionals now face.

Moderator/Lead Speaker:
Drew Jones, Core Products - Investment Banking and Corporations/Former REIT Analyst
Bloomberg

Panelist(s)/Co-Speaker(s):
Iyan Adewuya
Coleman N Lannum, CFA, Vice President, Investor Relations
Covidien, Plc

Elizabeth Sun, Director, Corporate Communications
Taiwan Semiconductor Manufacturing Company

Paul Sweeney, Senior Analyst
Bloomberg Industries
    Learning Objectives:
  • The outlook for emerging markets as they contend with a euro zone in protracted and deepening crisis and a general malaise around developed markets
  • Key economic, industry, and company performance indicators that are most important to investors
  • How IR can best position a company's emerging markets activities and deal with ever-expanding investor demand for information
  • How to understand the new foreign competitors companies face both in domestic and international markets
 
 
* Draft description as of 6/28 3:51 pm, subject to change
 



Why Now?
Market structure complexity has increased substantially over the past decade, leaving many IROs confused and uncertain over exactly how and why their stock is trading in today's markets. Providing an unbiased, confidential forum for IROs to share their most pressing questions or concerns about market structure will help IROs better understand today's markets.
Actionable Takeaway Documents
  • Market Structure 101/FAQ Booklet
  • Market Structure Lingo/Key Terms Fact Sheet

Session Material
Attendee access, log-in required
Everything You Wanted to Know About Market Structure, But Were Afraid to Ask*
Tue - Jun, 5 | 10:30 am - 11:45 am
Location: 611-614 (Convention Center Level 6)
Category: Capital Markets

Market structure has changed dramatically over the past decade and has become increasingly complex. Keeping up with these fast-paced changes is challenging for IROs and many might feel uncomfortable sharing their lack of knowledge on this topic with others. A panel of market structure experts will explain how your stock can trade on BATS or Direct Edge even if it's listed on the NYSE Euronext or NASDAQ, what high-frequency trading is and how it's affecting your stock as well as dark pools and other pressing questions.

Moderator/Lead Speaker:
Moriah Shilton, Senior Director, Investor Relations
Tessera, Inc.

Panelist(s)/Co-Speaker(s):
John Adam, Director, Equity Capital Markets
Liquidnet Holdings Inc.

Randall M. Hopkins, Managing Director
The NASDAQ OMX Group

William P. White, Managing Director, Equities Division
Barclays Capital
    Learning Objectives:
  • Increase knowledge of today's U.S. market structure
  • Answer specific questions IROs have on how their stock trades
  • Demystify complicated market structure topics
 
 
* Draft description as of 6/28 3:51 pm, subject to change
 



Why Now?
This session will focus on what is happening today with our current proxy processes and what will change if "ZYX" happens. It seems counter-productive to continue to improve the disclosure and governance aspects of the capital markets only to have these improvements potentially lost through an inadequate proxy voting process. There have been several proposals that consider regulatory initiatives under a fair disclosure regime to require changes to how proxy advisory firms render their voting recommendations and disclosure of those recommendations to corporate issuers prior to issuance to investor clients. Knowing what changes may occur over the next year or two on proxy plumbing and specifically proxy advisory firms is critical for investor relations professionals and what IROs need to do to be prepared.
Actionable Takeaway Documents
  • How to work more effectively with a proxy advisory firms
  • What can IROs do now to prepare for proxy changes
  • Reading list of current proxy plumbing and proxy advisory firm proposals

Session Material
Attendee access, log-in required
Breaking Through the Proxy Maze: Winning Shareholder Votes*
Tue - Jun, 5 | 1:45 pm - 3:00 pm
Location: 611-614 (Convention Center Level 6)
Category: Regulations and Governance | Secondary Category: Capital Markets

With the fate of mandatory proxy access behind us, the latest question is "what is the timing for the SEC's proxy plumbing project and what will the changes mean for investor relations professionals?" How will changes affect the proxy voting process? Based on recent research, it is likely the first rulemakings emanating from the proxy plumbing project will likely come in waves, with greater regulation of proxy advisory firms being first on the list. This session will look at the possible SEC proposals dealing with proxy plumbing and specifically proxy advisor regulation as well as the potential ramifications for boards of directors, management teams and investor relations professionals. We know these changes are coming – how can we best prepare for the changes.

Moderator/Lead Speaker:
Karen Fisher, Managing Director
The Shareholder Forum

Panelist(s)/Co-Speaker(s):
Brian Breheny, Partner
Skadden, Arps, Slate, Meagher & Flom LLP

Robert McCormick, Chief Policy Officer
Glass-Lewis

Judy McLevey, Vice President, Corporate Actions & Market Watch
NYSE Euronext
    Learning Objectives:
  • Attendees will learn what the SEC may be proposing to change relative to the relationship between proxy advisors and their investor clients
  • Attendees will learn how various proxy advisory firms determine their voting recommendations and what is required to be disclosed
  • Attendees will learn what to do if proxy advisory firms issue voting recommendations which may be misleading or inaccurate
 
 
* Draft description as of 6/28 3:51 pm, subject to change
 



Why Now?
Session co-leads Tom Lee (JP Morgan) and John Lonski (Moody's) are well known for their market expertise and regularly appear on CNBC.
The Eurozone today strongly impacts global capital flows. Since 2010, its future, and even its demise, has been widely speculated. IROs should understand the possible permutations of the Euro crisis, how it impacts their financing strategies and how investors are responding to the heightened risk.
The Impact of the Euro Crisis on Global Capital Markets*
Tue - Jun, 5 | 1:45 pm - 3:00 pm
Location: 6D (Convention Center Level 6)
Category: Capital Markets

In 2011, companies were virtually held hostage to the Euro crisis with regard to capital market access. The situation in 2012 does not appear to be drastically different as risk appetite and market openings seem to be determined by the evolution of the European sovereign debt crisis. As European banks face impending Basel 3 capital requirements as well as the fallout from the sovereign crisis, their strategy of asset sales, capital raises and deleveraging the balance sheet has important implications for the equity and debt markets. With over $1.2 trillion in corporate debt maturing in 2012 and 2013 in Europe, competition for debt and equity capital will be fierce. In today's risk on/off world, what is the likely impact of these events on your company and your role as IRO? What are the implications of these changes on your access to equity and debt markets, the trading of your shares and your ability to refinance? How does the European crisis affect your operations and investor perceptions of the risk in your business?

Moderator/Lead Speaker:
John Lonski, Managing Director & Chief Economist, Capital Markets Research Group
Moody's

Panelist(s)/Co-Speaker(s):
Maher Al-Haffar, Vice President, Communications, Public Affairs and Investor Relations
CEMEX

Tim Kellen, Investment Analyst
Cascade Investment, LLC

Tom Lee, Chief US Equity Strategist
JP Morgan
    Learning Objectives:
  • Learn how the new capital adequacy rules will impact liquidity and the availability of capital
  • Learn how the implications of the Eurozone crisis could impact your access to equity and debt markets
  • Learn how buyside constituents frame the crisis and how they reposition in light of the ongoing Eurozone crisis
  • Learn how a global company maneuvers in this environment and responds to investor concerns
 
 
* Draft description as of 6/28 3:51 pm, subject to change
 



Why Now?
Companies are maintaining record amounts of cash on their balance sheets. How this cash is ultimately reinvested in the business or distributed to shareholders is a decision facing corporate management. Given the volatility of the capital markets and lower investment returns, dividends and buybacks could have a larger impact on overall total shareholder return.
Actionable Takeaway Documents
  • Presentation will include numerous charts and tables illustrating longer-term returns for the five uses of cash strategies included in the study.

Session Material
Attendee access, log-in required
Uses of Cash and Subsequent Returns on Share Prices*
Tue - Jun, 5 | 3:30 pm - 4:45 pm
Location: 6C (Convention Center Level 6)
Category: Capital Markets | Secondary Category: Investment Process

Companies must determine the most optimal uses of their cash and borrowing capacity. Does it make sense to reinvest internally, make acquisitions, or distribute to shareholders by declaring dividends and/or buy back their shares? This presentation provides the results of a 20+ year study (updated through December 2011) that illustrates by market cap size, economic sector and investment style (growth or value) and compares the various use of cash strategies by total return. The study includes both bull and bear market cycles.

Moderator/Lead Speaker:
Mark Meierhoffer, Practice Leader and Senior Consultant
DeMarche Associates

Panelist(s)/Co-Speaker(s):
J. Scott Di Valerio, Chief Financial Officer
Coinstar

Sonia Jain, Senior Director of Finance & Treasurer
Coinstar
    Learning Objectives:
  • Understand how different uses of cash strategies affect total investment returns
  • Understand how companies of differing market cap size and investment style perform differently
  • Determine what effects cash flow, P/E, and leverage have on returns
 
 
* Draft description as of 6/28 3:51 pm, subject to change
 

Contact Tammy Dang (tdang@niri.org) with session inquiries.
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