Monday, October 17, 2011
6:00 pm - 9:00 pm MON 10/17
Speaker
Wolfgang Schauble, Federal Minister of Finance, Germany
Tuesday, October 18, 2011
7:00 am - 9:00 am TUE 10/18
7:00 am - 8:00 am TUE 10/18
Host
Joe Reece, Managing Director, Investment Banking, and Global Head, Equity Capital Markets, Credit Suisse
8:00 am - 9:15 am TUE 10/18
The Milken Institute's Global Capital Markets Advisory Council is made up of leadership of large funds from around the globe. Together these influential investors represent more than $18 trillion in assets under management. GCMAC's private meetings and conference calls offer one of the few settings in which senior investment officers and principals can speak candidly with their peers about important issues, current market conditions and strategy. Today's session will feature an off-the-record conversation joined by Institute Chairman Mike Milken and John Micklethwait, editor-in-chief of The Economist.
Moderator
Jared Carney, Chief Strategy Officer, Milken Institute
9:00 am - 9:15 am TUE 10/18
Speakers
Jonathan Goldstein, Deputy Chief Executive, Heron International
Michael Klowden, President and CEO, Milken Institute
9:15 am - 10:15 am TUE 10/18
There's never an easy-to-follow road map from recession to recovery — and this time around, the signs have been exceptionally hard to read. Can policymakers pull off the right moves to sustain this fragile recovery? Which developing nations may fall victim to overheating? Months after the Arab Spring uprisings, how will events play out in the Middle East? What other geopolitical trouble spots bear watching? This panel will examine the extraordinary shifts taking place and attempt to discern whether there are even bigger surprises on the horizon.
Moderator
John Micklethwait, Editor-in-Chief, The Economist
Speakers
Shaukat Aziz, Former Prime Minister, Pakistan
Pierre Beaudoin, President and CEO, Bombardier Inc.
Sir Martin Sorrell, CEO, WPP
Ruben Vardanian, Chairman and CEO, Troika Dialog
10:15 am - 10:45 am TUE 10/18
No one ever accused legendary oilman Boone Pickens of being a shrinking violet. One of the most colorful figures in American business, he has plenty of stories to tell — and a barrelful of strong opinions about the world's energy future. Today this former wildcatter has become an unlikely environmentalist, advocating for renewables and tirelessly making the case for the Pickens Plan, which calls for the U.S. to deploy its natural gas reserves in the transportation sector. In this session, he'll offer a world energy outlook and share tales about trying to prod Washington into action.
Interviewer
Oliver Kamm, Leader Writer and Columnist, The Times of London
Speaker
T. Boone Pickens, Entrepreneur and Philanthropist; Founder, BP Capital
11:00 am - 12:00 pm TUE 10/18
European officials have announced one rescue plan after another, but their efforts have bought only temporary reprieves, as looming fears of Greek default and contagion have periodically roiled world markets. Can policymakers better coordinate efforts and avoid a meltdown, or is the sovereign debt crisis too big for a bailout? Can European banks withstand the stress? At this critical juncture, our panel of experts will analyze the implications, including whether the monetary union will remain intact — and what kind of structural changes might provide greater stability in the future.
Moderator
Jason Cummins, Head of Economic Research, Brevan Howard Asset Management LLP
Speakers
Frederick Khedouri, Partner, Apollo Management International LLP
Dambisa Moyo, Author, Economist
Eugene O'Callaghan, Investment Director, National Pensions Reserve Fund of Ireland
Huw Pill, Managing Director and Chief European Economist, Goldman Sachs
Xavier Rolet, Chief Executive, London Stock Exchange Group
11:00 am - 12:00 pm TUE 10/18
India's economy has been dubbed a tiger for good reason: It's been growing at a torrid pace. But recently a few speed bumps have appeared, including food inflation, widening fiscal and current-account deficits, and a slight slowdown in the all-important services industry. Nevertheless, the world's largest democracy remains committed to achieving the kind of growth that can lift millions more out of poverty. What are the prospects for overcoming India's shortage of reliable power, its congested road and rail networks, and persistent corruption? Can the nation's bureaucracy be reformed to encourage more innovation and entrepreneurship?
Moderator
Sanjay Patel, Managing Partner, Head of International Private Equity, Apollo Management International LLP
Speakers
Pavan Gupte, Chief Strategy Officer, CVCI Private Equity, Citi Venture Capital International
David Mulford, Vice Chairman, International, Credit Suisse; former U.S. Ambassador to India
Vinay Nair, Business Development Manager, Acumen Fund
Richard Titherington, Managing Director, Chief Investment Officer and Head of the Emerging Markets Equity Team, J.P. Morgan
11:00 am - 12:00 pm TUE 10/18
Human capital is the most important asset in any successful enterprise. But workforce needs are changing rapidly in a world powered by increasingly sophisticated technology. Which skills will be in greatest demand in the future? Although education is often said to be the best long-term investment, it can be difficult to justify in a tough economic environment. Will technology revolutionize education? Can online learning fulfill its promise of dramatically expanding access to education around the globe?
Moderator
Jared Carney, Chief Strategy Officer, Milken Institute
Speakers
Gregg Daniel, Group Commercial Director, BPP Holdings
Ronald Packard, Chairman and Founder, K12 Inc.
Sam Shah, Head of Global Education Services, Credit Suisse
John Woodward, Group CEO, Busy Bees
12:15 pm - 1:15 pm TUE 10/18
1:30 pm - 2:15 pm TUE 10/18
Milken Institute Chairman Michael Milken will discuss the intersection of human, social and financial capital and why the need for strong, consistent leadership has never been greater. His talk will explore the nature of credit, challenges in real estate, entitlements, energy, the environment, education and health as well as the need for Europe and America to encourage highly skilled immigrants from Asia. Financial and economic turmoil, he notes, often result not only from the failure of policymakers and investors to heed the lessons of history, but also from their failure to recognize that the future will not be like the past.
Speaker
Michael Milken, Chairman, Milken Institute
2:30 pm - 3:30 pm TUE 10/18
America has emerged from its post-recession hangover to find that shifting its growth engine back into high gear is not easy. The middle class is feeling especially squeezed. This discussion will analyze the most crucial factors at work in the U.S. economy. Has the economy finally worked through the excesses of the credit bubble? Despite its dysfunction, can Washington balance long-term deficit reduction with a meaningful jobs program? What will be the impact of state and local budget woes? Will U.S. consumers ignore the depressed housing market and resume their free-spending ways? What kind of long-term economic relationship will the U.S. forge with China?
Moderator
Bradley Belt, Senior Managing Director, Milken Institute
Speakers
Todd Boehly, President, Guggenheim Partners
Stephen J. Cloobeck, Chairman and CEO, Diamond Resorts International
Richard Daley, Former Mayor of Chicago and Of Counsel, Katten Muchin Rosenman LLP
Ross DeVol, Chief Research Officer, Milken Institute
Malon Wilkus, Chairman and CEO, American Capital Ltd.
2:30 pm - 3:30 pm TUE 10/18
While the world waits anxiously for the resolution of the sovereign debt crisis, European firms are already experiencing restricted access to capital. Corporate bond issuance is drying up, and spreads are rising. The IPO market is effectively shut. What contingency plans do European companies need to make? What do investors need to understand about the risks and opportunities? With CLOs receding in Europe, what other kinds of loan and debt vehicles will take their place?
Moderator
David Weaver, President, Jefferies International Ltd.
Speakers
Jeppe Gregersen, Principal, European Credit, Apollo Management
Alexander Scurlock, Head, Fidelity European Growth Fund
Howard Shore, Executive Chairman, Shore Capital
Ramez Sousou, Co-CEO, TowerBrook Capital Partners
Jason Triplitt, Head of European Equities, Government of Singapore Investment Corp., GIC Asset Management
Ira Wagner, President, European Capital Financial Services, an affiliate of American Capital Ltd.
2:30 pm - 3:30 pm TUE 10/18
The foreign aid disbursed by governments and multilateral agencies is crucial for maintaining some level of health, education and social services in the most impoverished corners of the world. But aid has its limitations. The remarkable transformation of East Asia shows that the most direct way to reduce poverty is by creating the kind of self-sustaining economic growth that generates jobs. Although pioneering efforts in microfinance and impact investing garnered a wave of enthusiasm, questions remain about the staying power of these models. This discussion will examine the most effective strategies for truly integrating developing nations into the global economy by mobilizing the capital needed for infrastructure and for financing businesses.
Moderator
David Smith, Economics Editor, The Sunday Times
Speakers
Carole Brookins, Managing Director, Public Capital Advisors
Sir Ronald Cohen, Chairman, The Portland Trust and Bridges Ventures; Director, Social Finance
Alexander Friedman, Chief Investment Officer, UBS Wealth Management AG
Charles Kenny, Senior Fellow, Center for Global Development;
Schwartz Fellow, New America Foundation
Raj Kumar, President, Devex
3:45 pm - 4:45 pm TUE 10/18
It's been a decade of sweeping and sometimes disruptive change for the entertainment industry, which is still grappling with audiences' growing appetite for digital experiences. The global recession prodded many consumers into cutting back on discretionary spending, but it also gave them even more reason to crave an escape. What's the secret to success in this tough environment? How does the globalization of entertainment affect business decisions — and creative direction? Are business models keeping up with technology innovations like mobile video streaming platforms? How will new delivery systems continue to change consumers' experiences and expectations? What are the hottest trends in live entertainment?
Moderator
Alastair Blackman, Managing Director, Credit Suisse
Speakers
Harry Hampson, Managing Director, J.P. Morgan Investment Banking
Michael Kassan, Chairman and CEO, MediaLink
Jay Marciano, Chief Executive, AEG Europe
Jeff Shell, President, NBCUniversal International
3:45 pm - 4:45 pm TUE 10/18
Commodity prices soared in recent years, driven partly by growth in emerging markets and partly by speculation. But now the prices of many raw materials have abruptly deflated. Do the sharp falls in oil and copper signal a global slowdown? Gold has taken a breather, but will it climb again as investors seek a safe haven? With the prices of food staples remaining near historic highs, how can we protect vulnerable populations from market volatility? Given this volatility, do companies need to think more about how to bring energy costs down? What will be the impact of new regulations governing derivatives trading and of China's hold on the market for rare earth minerals?
Moderator
Javier Blas, Commodities Editor, Financial Times
Speakers
Marc Bailey, President, Jefferies Bache Ltd.
Lord John Browne, Partner and Managing Director, Riverstone
Mick Davis, Chief Executive, Xstrata PLC
Mark Elborne, President and CEO, GE UK & Ireland
T. Boone Pickens, Entrepreneur and Philanthropist; Founder, BP Capital
3:45 pm - 4:45 pm TUE 10/18
Many property markets around the world experienced a brisk recovery in the last two years as the volume of cross-border deals increased. Asia and South America have seen roaring growth, but is it sustainable? Should investors beware of property bubbles in China and other emerging markets? Which sectors look most promising in the years ahead: hospitality, industrial, multifamily, single-family or commercial? Perhaps most important, what is the outlook for raising capital in the year ahead — and how are developers coping with the tremors now being felt in credit markets? This panel of industry experts will explore current trends in deal flow.
Moderator
Giles Barrie, Editor-in-Chief, Property Week
Speakers
Keith Breslauer, Managing Director, Patron Capital Partners
John Burns, Chief Executive, Derwent London
Robert Hodges, Managing Director, Carlyle European Real Estate Partners
Stephen Hubbard, Deputy Chairman, UK and EMEA, CB Richard Ellis
Gerald Ronson, Chief Executive, Heron International
Max Sinclair, Chief Executive, Eurohypo
5:00 pm - 6:00 pm TUE 10/18
Mike Milken joins a panel of seasoned investors to look at what lies ahead — and how businesses will access the capital they need to generate jobs. Bank lending remains tight, with institutions worried about regulatory requirements and heightened sovereign risk. Equity markets have seen a return to wild swings in recent months, leading many investors to assume that volatility is simply a new fact of life. Corporate bond offerings worldwide plunged in the third quarter to the lowest level since 2008 as investors fled to safety. The Fed's Operation Twist and the ongoing European debt crisis add further wrinkles to an already complicated picture. This session will take an in-depth look at the current investment climate.
Moderator
Michael Milken, Chairman, Milken Institute
Speakers
John Calamos, CEO and Co-Chief Investment Officer, Calamos Investments
Thomas Finke, Chairman and CEO, Babson Capital Management LLC
Carey Lathrop, Managing Director and Head of Global Credit Markets, Citi
Scott Minerd, Chief Investment Officer, Guggenheim Partners
Marc Rowan, Co-Founder and Senior Managing Director, Apollo Global Management LLC
6:00 pm - 8:00 pm TUE 10/18
Moderator
Michael Milken, Chairman, Milken Institute
Speaker
Shaukat Aziz, Former Prime Minister, Pakistan