Structured Products Forum 2015

Transcription

1 Structured Products Forum June InterContinental Hotel Singapore Platinum Gold Silver

2 1 st Leonteq has received more than 20 awards since its foundation in 2007 THE QUINTESSENCE OF OUR MISSION STATEMENT LET S REDEFINE YOUR INVESTMENT EXPERIENCE Leonteq s explicit goal is to make a difference through particular transparency in structured investment products and to be the preferred technology and service partner for investment solutions. We count on experienced industry experts with a focus on achieving client s goals and a first class IT infrastructure, setting new standards in stability and flexibility. OUR DIFFERENTIATION Modern platform Integrated IT platform built from ground up with a focus on automation of key processes in the value chain Platform functionality to address increased customer demand for transparency, service, liquidity, security and sustainability Vertical integration Control of the entire value chain as a basis for proactive service tailored to specific needs of clients Automation of key processes mitigating operational risks Competitive cost per issued product Modern platform resulting in a competitive cost per issued product allowing for small ticket sizes LEGAL DISCLAIMER (Singapore) Pte. Ltd (CMS ) ( Leonteq Singapore ) is responsible for the distribution of this publication in Singapore. It is licensed and regulated by the Monetary Authority of Singapore for dealing in securities. The services and products it provides are available only for or in relation to institutional investors and accredited investors which are corporations, each as defined in Section 4A of the Securities and Futures Act (Cap. 289 of Singapore). This document is being communicated to you solely for the purposes of providing information regarding the products and services that the Leonteq group currently offers, subject to applicable laws and regulations. Any including only partial reproduction of this publication, or any article or picture is solely permitted based on an authorization from Leonteq Singapore. No responsibility is assumed in case of unsolicited delivery. (Singapore) Pte. Ltd All rights reserved. LEONTEQ SECURITIES (SINGAPORE) PTE. LTD. Company Registration Number N 8 Marina View #39-02, Asia Square Tower 1 Singapore Phone Fax sg@leonteq.com

3 Structured Products Forum Singapore 3 WELCOME On behalf of, we are delighted to be the lead sponsor for Hubbis inaugural Structured Products Forum 2015 today in Singapore. This is a timely gathering of practitioners given renewed interest of Asian investors in structured products over recent years. Yet the industry should not rest on its laurels and still has some way to go in terms of the development of products and platforms, as well as adviser and client understanding and education. Today s presentations, case studies and panel discussions have been designed to cover issues relevant to product specialists as well as relationship (RMs) and other client-facing staff depending on which segment of the day you are joining us for. On the one hand, it covers the business of structured products including trends relating to product development, the distribution mechanism and automation of product delivery In addition, with RMs and advisers increasingly aware of the need to better understand the products they are selling, other sections of the agenda address this, along with how to have the right types of conversations with clients. As an industry-led initiative this is also a great opportunity to get a large number of RMs and advisers together to discuss the evolution of the structured products space. Hubbis is also video-recording the presentations and will write-up the discussions into a series of feature articles and adviser guidelines which it will send to its database of 34,000+ practitioners in Asia. Plus, the content will contribute towards an educational tool-kit as part of training and development materials for RMs and advisers. Thank you for your support and attendance. We are pleased to be part of this event and we look forward to working with you and your clients across the region. We hope you enjoy the forum. David Schmid Chief Executive Officer and Managing Director, Asia

4 4 Structured Products Forum Singapore Agenda-at-a-glance Morning Afternoon 9.00am Welcome Address by David Schmid 1.45pm Panel Discussion Educating RMs and advisers 9.10am Panel Discussion A re-awakening for structured products in Asia? 2.20pm Crash course in structured products Agenda-at-a-glance 9.50am 10.20am 10.50am 11.20am Keynote Comparing structured products in Europe and Asia A more effective RM Workstation Refreshments & Networking Product innovation and trends - Equities 2.50pm 3.30pm 4.00pm 4.30pm Panel Discussion Creating value for investors a growing portfolio role for structured products Refreshments & Networking Buy-and-hold or buy-and-sell? Advanced course in structured products 11.45am Panel Discussion Automation and platforms - taking the industry to the next level 5.00pm Forum Ends 12.30pm Regulatory update: do s and don ts in structured products 12.55pm Lunch

5

6 6 Structured Products Forum Singapore Full Agenda 8.40am 9.00am Registration Welcome Address David Schmid Chief Executive Officer and Managing Director, Asia 9.10am Panel Discussion A re-awakening for structured products in Asia? Where is there the most appetite in structured products at the moment? How best can we serve increased interest in highly-bespoke products? What needs to be done to increase penetration of structured products? How does the reputation of structured products today compare with those of other asset classes? What did we learn from 2008? Have we applied this? Has the industry won back client confidence? AGENDA Chair Panel Michael Stanhope Chief Executive Officer & Founder Hubbis Rohit Jaisingh Head, Equity and Commodity Investment Products dbs Bank emmanuel Guillaume Head of Derivatives, Asia Coutts 9.50am harry Krkalo Head Structured Solutions, Private Banking Sales Keynote Comparing structured products in Europe and Asia David Schmid Chief Executive Officer and Managing Director, Asia What are the trends in each market? What are the differences between products, pay-offs and maturities? How do the risk appetites of clients differ between these markets?

7 A WORLD OF PRICING & REFERENCE DATA AT YOUR FINGERTIPS. TRANSPARENT. INDEPENDENT. ACCURATE. The Thomson Reuters Pricing Service (TRPS) delivers award winning content to thousands of entities around the world every day. This service helps subscribers to price illiquid, complex and Over-The-Counter (OTC) instruments. TRPS is a transparent, independent and accurate service which offers price recipes, corresponding market color and other relevant data sets for all evaluations. TRPS delivers extensive global content for all major asset classes including: CDS CDO CMBS CLO ABS MBS Fixed Income + More To find out more, simply prd.community@thomsonreuters.com or visit prdcommunity.com 2014 Thomson Reuters Thomson Reuters and the Kinesis logo are trademarks of Thomson Reuters.

8 8 Structured Products Forum Singapore 10.20am A more effective RM Workstation mahesh Bulchandani Chief Executive Officer, Asia finiq So what does an RM ideally need on a Workstation? How should that be delivered? What should the end-game look like? 10.50am Refreshments & Networking 11.20am Product innovation and trends - Equities harry Krkalo Head Structured Solutions, Private Banking Sales Market analysis & trends Product innovation AGENDA 11.45am Panel Discussion Automation and platforms - taking the industry to the next level What is the role of automation or automated advice? Why have platforms become more and more relevant? What are the next steps around automation and industrialisation of this sector? Why are there multiple platforms emerging? What are the issues and challenges with this? How critical is it for the new multi-issuer platforms to be independent of the banks? What are the requirements of an ideal platform? With greater automation happening in the structured investments space, what should be the main objective? Chair Panel Michael Stanhope Chief Executive Officer & Founder Hubbis Mahesh Bulchandani Chief Executive Officer, Asia finiq erdem Ozgul Managing Director, South Asia numerix thibaud Gogny-Goubert Head of Product and Services Development, Asia BNP Paribas Wealth Management

9 Structured Products Forum Singapore pm Regulatory update: do s and don ts in structured products Richard Wu executive Director, Head of Legal and Compliance, Asia How is the regulatory environment governing structured products evolving? What does this mean for what issuers can and cannot do? Is the possibility of listing products on exchanges getting closer? What suitability checks are required today? 12.55pm Lunch 1.45pm Panel Discussion Educating RMs and advisers How can we get front-line staff to be more confident and capable of having appropriate conversations with clients about structured products? How can better education of RMs generate more sales? What can be done to bring greater transparency to the sales process? In which products or strategies is there the most need for more education? What are the right types of conversations with clients? Why are some clients more open to accepting losses on mutual funds compared with structured products? What structured products are relevant in different market environments? And for different types of investors? What do most people want from their products? AGENDA Chair Panel Michael Stanhope Chief Executive Officer & Founder Hubbis Alessandro Caironi Head of Capital Markets Sales, APAC ubs Wealth Management Yash Mishra Managing Director, Head, Private Clients Taurus Wealth Advisors hans Goetti Head of Investment, Asia Banque Internationale A Luxembourg

10 10 Structured Products Forum Singapore 2.20pm Crash course in structured products Peter Williams Structured Solutions Sales What product categories exist? How do structured products generate value? FCN, Bonus Certificate, Twin Win Autocallables easily explained 2.50pm Panel Discussion Creating value for investors a growing portfolio role for structured products AGENDA Can structured products really create value for investors? Where can value be found? Are structured products being (mis)used by the banks for generating revenue for the banks? How does the reputation of structured products today compare with those of other asset classes? How can product manufacturers and distributors work together most effectively and efficiently? What more do distributors need in relation to price discovery, transparency, seamless end-to-end service, lower fees, more efficient execution and booking, or streamlining information to reduce the volume? What are the different scenarios where structured products can add value? Where do structured products fit within a portfolio? It is an alternate asset class or should we model them on their constituents? A lot of structured products are sold on an advisory basis, but are there opportunities to use them within a discretionary portfolio? Why are more structured products not used within discretionary portfolios? Chair Panel Michael Stanhope Chief Executive Officer & Founder Hubbis Charles Picard Head of Structured Products & Tailor Made Derivatives BNP Paribas Wealth Management emmanuel Guillaume Head of Derivatives, Asia Coutts hans Goetti Head of Investment, Asia Banque Internationale A Luxembourg Jeremy Ng Managing Director & Deputy Chief Executive Officer, Asia

11 Structured Products Forum Singapore pm Refreshments & Networking 4.00pm Buy-and-hold or buy-and-sell? harry Krkalo Head Structured Solutions, Private Banking Sales What are the trends in remuneration models, and how are these impacting the service model for structured products? With ongoing fees, there is need to provide ongoing service what does this mean in terms of managing the lifecycle of a structured product? Actively managed certificates. How do they compare against funds? What does good service look and feel like in the context of structured products? What are the skills, tools and other resources you need to provide it? What can go wrong? 4.30pm Advanced course in structured products duane Bong Director, Structuring, Asia AGENDA Explaining Greeks (and how to communicate them to clients) and how do they impact structured product pricing? Why is correlation important? ELNs and Accumulators an analysis 5.00pm Forum Ends

12 12 Structured Products Forum Singapore Speaker biographies David Schmid Chief Executive Officer and Managing Director, Asia David is mandated to build up the business as for in Asia. In such capacity, and as CEO of Leonteq Asia overseeing the office in Hong Kong and Singapore, he is primarily responsible for developing and managing the business, finances and operational requirements in Asia. Prior to joining (Singapore) Pte Ltd, David was mandated to build up the business as head of financial products division for EFG Bank AG, Singapore Branch. In such capacity David was mainly responsible for the client coverage of Financial Institutions in South-East Asia. Starting in June 2008, David was working for EFG Financial Products AG in Zurich as co-head of structured solutions responsible for the Swiss German region. In this function he was responsible for the client relationship management and distribution of financial products to financial institutions across all asset classes. David started his career in 2006 with UBS AG, where he had been involved in various platform projects for the private banking division. He holds a bachelor degree in Economics with major Banking and Finance. Rohit Jaisingh Head, Equity and Commodity Investment Products DBS Bank SPEAKERS Rohit Jaisingh heads the products team for Equities and Commodities (cash and structured products) for the Private Bank and Consumer Banking business segments of DBS Bank in Singapore. He is responsible for the infrastructural support in DBS Bank underpinning the advice and solutions relating to these asset classes. Prior to joining DBS Bank, Rohit has worked for over 20 years in various sales, trading and structuring positions in Deutsche Bank Global Markets, UBS Investment Bank and Citi. Rohit holds a MBA qualification from the Indian Institute of Management Calcutta. Duane Bong Director, Structuring, Asia Duane Bong graduated with a Master of Engineering from Imperial College London in He has close to 10 years working experience in finance, with assignments in London, Singapore and Tokyo. Duane specialises in the structuring of Commodities, FX and Equity structured products and strategy indices. His experience spans Private Banks, Insurers, Corporates and Sovereign Wealth Funds. Erick Wattebled Director, Head of Structuring, Asia Erick Wattebled has been head of structuring in Asia at in Singapore since 2013, before which he worked within a cross-asset derivatives structuring role for the firm. From 2010 to 2012, Erick was with Credit Agricole CIB, doing equity and fund derivatives structuring. From 2009, he worked at Exane Derivatives, within an equity derivatives structuring role.

13 Structured Products Forum Singapore 13 Richard Wu Executive Director, Head of Legal and Compliance, Asia Since September 2012, Richard has been in the following roles as head of legal and compliance, Asia (Singapore) Pte Ltd, (Hong Kong) Limited, EFG Asset Management (Singapore) Pte Ltd (Sept 2012 to 2013), and EFG Asset Management (Hong Kong) Limited (Sept 2012 to 2013). From 2008 to 2011, he worked for Mizuho Securities Asia, as executive director, head of legal (May 2010 to 2011), and head of legal and compliance (June 2008 to April 2010). From 2007 to 2008, he was regional head of compliance, Asia Pacific, at Allianz Global Investors Asia Pacific. And from 2000 to 2007, he was head of legal and compliance at Daiwa Securities SMBC Hong Kong, Jeremy Ng Managing Director & Deputy Chief Executive Officer, Asia Jeremy Ng is managing director & deputy chief executive officer, Asia at, responsible for building Leonteq s distribution business in Asia. He was most recently head of third-party distribution in Hong Kong and Singapore at Goldman Sachs Securities Division, where he worked from 2010 to From 2006 to 2010, he was at Deutsche Bank Global Markets, as director, cross asset structured products sales for in Hong Kong and Singapore. From 2003 to 2006, he worked at Morgan Stanley Private Wealth Management. And from 2000 to 2003, he was with Goldman Sachs Investment Management Division. Harry Krkalo Executive Director Hrvoje (Harry) Krkalo, is an Executive Director at Leonteq and is primarily responsible for the firms structured product service to private banks in Asia. Having spent the last 15 years between Hong Kong and Singapore he has dealt with a wide array of institutional, public and private companies accessing a broad range of global market products. Prior to Leonteq Harry held senior positions at ANZ, Morgan Stanley and Macquarie. He holds a bachelor degree in Economics with major in Mathematics. SPEAKERS Thibaud Gogny-Goubert Head of Product and Services Development, Asia BNP Paribas Wealth Management Thibaud Gogny-Goubert is Head of Product and Services Development, Asia at BNP Paribas Wealth Management. He has been in the finance industry and with BNP Paribas since He started his career in London as a credit analyst covering financial institutions. He soon moved to Geneva and to Wealth Management in 2001 as a Portfolio Manager. He became the head of Portfolio Management in Luxemburg in 2007, and since 2011 he has settled in Singapore and is in charge of the Development of the Investment Services platform in Asia. He holds a MS in Economy from Paris Dauphine University as well as a Master s degree from HEC Paris.

14 14 Structured Products Forum Singapore Charles Picard Head of Structured Products & Tailor Made Derivatives BNP Paribas Wealth Management After three years as a consultant in a top management consulting firm, Charles started his career at BNP Paribas in 2001, as a financial engineer at CIB-Global Equity & Commodities Derivatives, where he was in charge of new products and activities launching. After six years, he joined BNP Paribas Wealth Management to build up the tailor-made derivatives activity dedicated to the UHNW segment, covering clients from Europe and Middle East. The objective was to adapt the CIB techniques and know-how for private Key clients. Charles is now based in Singapore, since September 2010, where he brought the toolbox and manages now the responsibility to design tailor-made offerings to key clients and UHNW individuals. He holds a Master s degree in engineering from ECE (Top French engineering school) as well as a Master s degree from ESSEC Management school. Emmanuel Guillaume Head of Derivatives, Asia Coutts Emmanuel Guillaume is Head of Derivatives for Coutts in Asia, enhancing and driving the derivatives offering and platform across OTC and Structured products with a focus on bespoke solutions for strategic clients needs. Prior to this he was in sales management roles of tailormade cross-asset derivatives products to Asian Financial institutions. SPEAKERS Erdem Ozgul Managing Director, South Asia Numerix Erdem Ozgul manages sales and operations for Numerix in South Asia, covering India, South East Asian countries, Australia, and New Zealand. He is an avid change agent helping treasury and capital market participants to proactively address industry and client demands. Numerix is the market s leading provider of risk analytics technology for the pricing, structuring, modeling, valuation and distribution of any derivative instrument, or portfolio. Numerix risk solutions enable global financial institutions to understand performance, analyse and anticipate future derivatives risks with unparalleled speed and accuracy. Prior to joining Numerix, Erdem served as Regional Product Business Director, Trade & Risk Management Practice for Reuters Asia. He held several senior-level positions in Reuters from Erdem holds a MBA degree in Financial Engineering from ESSEC in Paris and a Bachelor of Science in Electronics Engineering from Bogazici University in Istanbul. Mahesh Bulchandani Chief Executive Officer, Asia FinIQ Mahesh Bulchandani is currently Chief Executive Officer for Asia at FinIQ Consulting. FinIQ is a technology platform that specialises in Wealth Management and Treasury systems. FinIQ is a market leader in this space, with 20+ banking groups currently live with FinIQ systems. Prior to this Mahesh spent 6 years in Technology and 17 years in Investment Banking industry. In Investment Banking, Mahesh held various positions in origination, syndicate, underwriting, sales and structuring functions related to Derivatives, Foreign Exchange, Risk Management and Capital markets. Mahesh obtained his MBA from IIM Calcutta after having completed his degree in Engineering.

15 Structured Products Forum Singapore 15 Peter Williams Structured Solutions Sales Peter is mandated with a structured solutions sales role across South-East Asia, located in Singapore. His core responsibility is to develop new business relationships and cultivate existing client relations. Prior to joining (Singapore) Pte Ltd in September, from January 2013, Peter was located within EFG Bank, Singapore Branch within the structure solutions team. Peter started his career in Singapore in 2003 and has over 10 years experience in the wealth management industry including platform technology and integration. Alessandro Caironi Head of Capital Markets Sales, APAC UBS Wealth Management Alessandro Caironi was born in Italy, in Como, in He has a Master s of Science in Finance from Bocconi University, Milan. He Joined UBS in 2006 in Switzerland, as part of the Investment consulting team, focusing on Equity Derivatives Sales. In 2011, he started leading the team covering the Southern Europe markets inside the Capital Markets division, with a focus on structured solutions cross asset class. He moved to Hong Kong in 2013 to cover the Fixed Income Structured Solutions Structuring and Sales team in APAC. In June 2015, he started a new role as head of Capital Markets Sales for APAC with a cross-asset mandate, covering both cash and derivatives. Hans Goetti Head of Investment, Asia Banque Internationale A Luxembourg Beore joining Banque Internationale A Luxembourg as Head of Investment, Asia, in early 2014, Hans Goetti was Chief Investment Officer at Finaport. Born in Zurich, Switzerland, Hans has been living in Singapore since 1996, and he has held various positions in financial institutions in Switzerland and Singapore. These include the roles of Chief Investment Officer Asia at LGT Bank (Singapore), Head of Research Services Group at Citi Private Bank, Singapore, and Senior Portfolio Manager at Citigroup Asset Management, Singapore. Before taking residence in Singapore, Hans worked for a number of Swiss-based banks in Zurich and Geneva as investment adviser as well as financial analyst. One of his assignments was to build a portfolio management department from scratch for a Japanese bank in Zurich. Hans holds a degree from Zurich Business School and a certificate as financial analyst from New York Institute of Finance. He is a regular guest on financial programmes for CNBC, Bloomberg, Channel News Asia and other TV channels where he contributes his views on global financial markets. SPEAKERS Yash Mishra Managing Director, Head, Private Clients Taurus Wealth Advisors Yash Mishra is a professional financial planner and has been involved with the financial services industry since Before joining Taurus Wealth Advisors, she was a senior vice president with the Private Client Service for ipac Singapore, specialising in assisting both local and expatriate professionals develop their investment and lifestyle planning strategies. Before moving into the banking and financial services industry, Yash was a network solutions specialist at AT&T s Global Communications Group, and in 1994 she received an MBA from the Birla Institute of Technology & Science (BITS). Yash s wealth management career began with Fortis and BNP Paribas in India. This early experience in such a demanding environment provided her with a strong understanding of investment markets and vehicles, enabling her to develop strong wealth-accumulation strategies for her clients. Yash s dedication is demonstrated by her excellent track-record and her strong pool of both local and international clients (including clients from the USA, India, the UK, Israel, Australia and Hungary). She is a champion for financial education and works alongside INSEAD University in raising financial awareness. Yash conducts a variety of workshops and seminars on related topics such as financial independence, successful investing and retirement planning. She contributes to various editorials and has often been quoted in publications such as the Asia Wall Street Journal and Today. She is an active member of UNIFEM and the Financial Women s Association. Yash is fluent in four languages, and enjoys oil painting and hiking.

16 16 Structured Products Forum Singapore Notes NOTES

17

18

19

20 THE QUINTESSENCE OF OUR MISSION STATEMENT LET S REDEFINE YOUR INVESTMENT EXPERIENCE Leonteq s explicit goal is to make a difference through particular transparency in investment products and to be the preferred technology and service partner for investment solutions. We count on experienced industry experts with a focus on achieving client s goals and a first class IT infrastructure, setting new standards in stability and flexibility.