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2011 Milken Institute Summit

2011 Milken Institute Summit

Program


Monday, October 17, 2011

Mon 10/17
6:00 pm - 9:00 pm

Private Reception and Dinner for Speakers and Sponsors

Speaker

Wolfgang Schauble

Federal Minister of Finance, Germany

Tuesday, October 18, 2011

Tue 10/18
7:00 am - 9:00 am

Registration and Breakfast

Tue 10/18
7:00 am - 8:00 am

Credit Suisse Private Breakfast

Host

Joe Reece

Managing Director, Investment Banking, and Global Head, Equity Capital Markets, Credit Suisse

Tue 10/18
8:00 am - 9:15 am

Global Capital Markets Advisory Council Private Breakfast

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

Tue 10/18
9:00 am - 9:15 am

Welcoming Remarks

Speakers

Jonathan Goldstein

Deputy Chief Executive, Heron International

Michael Klowden

President and CEO, Milken Institute

Tue 10/18
9:15 am - 10:15 am

Global Overview

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.

Ruben Vardanian

Chairman and CEO, Troika Dialog

Tue 10/18
10:15 am - 10:45 am

A Conversation With T. Boone Pickens: Straight Talk on Energy

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

Tue 10/18
11:00 am - 12:00 pm

Europe's Moment of Truth

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

Tue 10/18
11:00 am - 12:00 pm

India: Can the Tiger Economy Continue to Run?

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

Tue 10/18
11:00 am - 12:00 pm

The Value of Human Capital: Developing the Workforce of the 21st Century

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

Tue 10/18
12:15 pm - 1:15 pm

Lunch

Tue 10/18
1:30 pm - 2:15 pm

Mike Milken: Leadership in Turbulent Times

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

Tue 10/18
2:30 pm - 3:30 pm

Can the U.S. Avoid a Double-Dip?

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.

Tue 10/18
2:30 pm - 3:30 pm

Financing European Business

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.

Tue 10/18
2:30 pm - 3:30 pm

From Aid to Investment: Spurring Growth in the Poorest Nations

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

Tue 10/18
3:45 pm - 4:45 pm

Media and Entertainment: The Fight for Consumers' Time and Money

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

Tue 10/18
3:45 pm - 4:45 pm

Natural Resources and Rising Worldwide Demand

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

Tue 10/18
3:45 pm - 4:45 pm

Outlook for Global Real Estate

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

Tue 10/18
5:00 pm - 6:00 pm

The Future of Financial Markets

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

Tue 10/18
6:00 pm - 8:00 pm

Milken Institute Young Leaders Circle Reception (By invitation only)

Moderator

Michael Milken

Chairman, Milken Institute

Speaker

Shaukat Aziz

Former Prime Minister, Pakistan


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