2013 Annual SFBTA Conference

Boca Raton, Florida
Thursday, February 07, 2013

Featured Speaker
CTannenbaum photo 2 Carl R. Tannenbaum 
Senior Vice President/Chief Economist 
Northern Trust - Chicago, Illinois

Carl Tannenbaum is the Chief Economist for The Northern Trust.  In this role, Mr. Tannenbaum briefs clients and colleagues on the economy and business conditions, prepares the bank’s official economic outlook and participates in forecast surveys.  He is a member of the bank’s investment policy committee and its asset/liability management committee. Mr. Tannenbaum serves as Northern Trust’s main spokesman on the economy.  He publishes weekly commentaries and is frequently interviewed by media outlets such as The Wall Street Journal, Bloomberg, and Reuters. Prior to joining Northern Trust, Mr. Tannenbaum spent four years at the Federal Reserve, where he led the risk section.  He was deeply involved in the central bank’s response to the 2008 financial crisis, helped to create and conduct its stress testing program, and advised senior Federal Reserve leaders on developments in banking and the financial markets. Mr. Tannenbaum began his career in banking at LaSalle Bank/ABN AMRO, a global banking organization with $1 trillion in total assets.  He served for more than 20 years there as the organization’s Chief Economist and Head of Balance Sheet Management. Mr. Tannenbaum is a past Chairman of the National Association for Business Economics, the Conference of Business Economists, the American Bankers Association’s Economic Advisory Committee, the North American Asset/Liability Management Association, and the Bank Administration Institute’s Treasury Commission. Mr. Tannenbaum also serves on the Board of Working in the Schools (WITS), a literacy organization that supports the Chicago Public Schools. Mr. Tannenbaum holds an M.B.A. and a B.A. in finance and economics from the University of Chicago.

Premier Sponsor Highlight

Aaron Kohli
Vice President, U.S. Rates Strategist
BNP Paribas

Aaron Kohli is a U.S. Rates Strategist at BNP Paribas with over 10 years of experience in the financial industry. In his current role, Aaron focuses on TIPS and Treasuries and has worked as a strategist since 2011. Prior to BNP Paribas, Aaron worked in Mortgage Research at Citigroup and in Risk Management at BlackRock before becoming a strategist at Greenwich Capital. Aaron graduated from Cornell University with a Bachelors Degree in Economics and a focus in Computer Science

Agency & Mortgage Panel

Michael Bennett
Head of Derivatives and Structured Finance
World Bank
Michael Bennett is the Head of Derivatives and Structured Finance in the treasury department of the World Bank. His team is responsible for all structured bond issuance by the World Bank, from callable bonds to more exotic structures. He has spent over ten years with the World Bank, splitting his time between the World Bank’s Paris office and its Washington, DC headquarters. Prior to joining the World Bank, he worked in the debt capital markets field in New York, Tokyo, Hong Kong, and he is a graduate of Columbia University Law School in New York.

Susan Bilotta
Vice President – Finance
Federal Farm Credit Banks Funding Corporation

Ms. Bilotta joined the Federal Farm Credit Banks Funding Corporation in 1985. Her years of experience in the Finance Department have resulted in a broad range of responsibilities, including managing Farm Credit’s Discount Note, Bond and Investment programs and the Funding Corporation dealer group. In 2002 she assumed responsibility for coordinating the swap and derivative activities for the System Banks. She holds a BS degree in Biology from the University of Richmond, and an MBA in Finance from Pace University.

Andrea Dore
Lead Financial Officer, Capital Markets Department
World Bank

Andrea Dore is a Lead Financial Officer in the Capital Markets Department of the World Bank. She joined the Bank in 1998 and she has worked in a number of units in the Bank’s Treasury.  Currently she manages the World Bank’s funding program in several international markets. She is responsible for the issuance of the World Bank bonds in the global currencies, as well as monitoring and executing opportunities in a variety of regional markets. She has also managed several projects focused on strengthening the control and monitoring of operational risk in the World Bank Treasury. Prior to joining the World Bank Andrea worked at the St. Lucia Development Bank as a Project Officer responsible for a  portfolio of the Bank’s development projects.

Megan Dougherty
Funding Officer
FHLBanks Office of Finance

Megan is a Callable Trader on the Term Funding Desk at the FHLBanks Office of Finance and has almost seven years of FHLB System experience.  She is currently responsible for managing and executing negotiated fixed rate and structured note callable issuance on behalf of the 12 Federal Home Loan Banks.  Megan also manages the callable auction, which consists of a bidding group of 26 dealers.  Prior to the Office of Finance, Megan worked at the FHLBank of Des Moines as a Trader, analyzing and executing investment, derivative, and funding trades.  Megan holds a B.A. and MBA from the University of Iowa and a Masters in Financial Management from Drake University. 

Laurie S. Goodman
Senior Managing Director
Amherst Securities Group, L.P.

Laurie is a Senior Managing Director at Amherst Securities Group, L.P., where she is responsible for strategy and business development. Laurie joined the firm in December, 2008, assembled the Strategy Team and began publication of the Amherst Mortgage Insight.  From July 1993-Nov 2008, Laurie was head of Global Fixed Income Research and Manager of U.S. Securitized Products Research at UBS and predecessor firms. The UBS Securitized Products Research group was widely recognized for its insightful analysis and weekly Mortgage Strategist publication.  Prior to that, Laurie spent 10 years in senior fixed income research positions at Citicorp, Goldman Sachs, and Merrill Lynch.  She was also a mortgage portfolio manager on the buy side and a Senior Economist at the Federal Reserve Bank of New York. Laurie holds a B.A. in Mathematics from the University of Pennsylvania, and M.A. and Ph.D. degrees in Economics from Stanford University.  She has published more than 200 articles in professional and academic journals, and co-authored and co-edited five books. Laurie was inducted into the Fixed Income Analysts Hall of Fame in 2009.

Karim Mahfouz

Karim Mahfouz is a Director at Citigroup where he has worked since 2002.  He currently trades US dollar interest rate options with primary focus on Bermudan options.  Prior to that he traded the Canadian interest rate swaps.  He has an MBA from NYU Stern School of Business and a BS in Biology from Villanova University.  He currently lives in New York with his wife and two children.

Rob Owens

Manager - Capital Markets
Farmer Mac

Robert Owens is the Manager of the Capital Markets Department at Farmer Mac, a stockholder-owned, federally chartered instrumentality of the United States.  He began his career in 1994 at a regional public accounting firm, then moved into litigation consulting at Navigant Consulting.  After receiving his MBA in 2004, he joined Farmer Mac and, in 2005, became a trader on the Capital Markets desk issuing short and long term debt, acquiring and securitizing agricultural mortgages, and entering into derivative transactions. In 2009, he assumed his current responsibilities as head of the Capital Markets Department at Farmer Mac.  He received a B.S. in Accounting from Virginia Tech and a MBA degree with a Finance concentration from the University of Maryland.  Rob is a licensed CPA in Virginia.

Corporates/Preferreds Panel

Nate Burstin
Vice President

Nate Burstin is a Vice President with Incapital tasked with overseeing the Global Investment Grade Credit trading business.   His primary areas are TMT (Telecommunications, Media, and Technology) and Metals and Mining but he has experience trading all sectors from Autos to Utilities.  Nate started his career in 2006 with RBC Capital Markets where he worked on their CD and High Yield desk before starting to trade IG credit on their institutional desk and joining Incapital toward the end of 2012.  He brings with him a wealth of trading experience across various product areas generating relative value trade ideas for accounts as well as the firm.

Allen Hassan
Managing Director, Preferred Products

Allen Hassan has spent more than 20 years focusing on fixed income products, with a specialization in Preferred Stock. Allen started his career at Lehman Brothers in Fixed Income Sales and Trading. After Lehman, Allen joined Prudential Securities where he was instrumental in their Fixed Income distribution capabilities and led their institutional Preferred business. Allen then left to start the Preferred Desk at Jefferies and Co. in 2003. In April 2011, BTIG hired Allen to start their Preferred Desk, expanding the firm's product capabilities. BTIG’s Preferred Product capabilities complement the firm’s existing equities, fixed income and prime brokerage offerings. BTIG LLC is a premier institutional brokerage and fund services company. Founded in 2002, BTIG employs more than 400 professionals in five different countries. BTIG has ten U.S. offices, including: New York, San Francisco, Chicago, Los Angeles, Greenwich. Allen was born and raised in Los Angeles, California. He received his Bachelors of Science in Finance from Touro College. He has also studied at New York University. Allen currently resides in Manhattan’s Upper Westside with his wife and two children.

Marvin Loh
Managing Director, Senior Fixed Income Market Strategist
Bank of New York Capital Markets

Marvin Loh is a Managing Director at BNY Mellon Capital Markets, where he is the firm’s senior fixed income market strategist. Mr. Loh monitors market, industry and credit developments, and formulates their impact on a wide range of fixed income asset classes, including rates, corporates, high yield, emerging market and municipal bonds. He focuses on identifying relative value opportunities across various risk asset classes. He publishes BNY Mellon Capital Market’s Fixed Income Market Commentary and is a regular speaker at corporate and media events. Prior to joining BNY Mellon/Pershing in August, 2009, he was the Director of Research at W.R. Hambrecht, a boutique investment bank that pioneered the auction IPO process. Mr. Loh and his group focused on identifying disruptive business models that could provide above average long term investment returns. Mr. Loh has also held senior analyst roles in both the fixed income and equity markets at Fidelity Investments, Oppenheimer and Company, the Federal Reserve Bank of New York, and FGIC . His credit and equity coverage has included analysis of the finance, specialty finance, healthcare, technology, energy and utility sectors. Mr. Loh graduated from New York University, where he obtained his Master of Business Administration in Finance and a Bachelors of Science degree in Finance and Economics. He holds FINRA Series 7, 16, 24, 53, 55, 63, 86 and 87 licenses.  

CD Panel

Christopher Luke
Managing Director, Financial Products Group
BMO Capital Markets

Chris is responsible for BMO’s interest rate structured products platform in the US. In this capacity he handles structuring, marketing and trading of BMO’s interest rate structured products under the Bank of Montreal and BMO Harris Bank brands. Chris joined BMO Capital Markets in November 2002 with responsibility for the U.S. Agency derivatives and fixed income businesses. He subsequently led BMO’s drive into the Latin American derivatives market and expanded its coverage of highly-rated frequent issuers in the multilateral space. From 1993 – 2001 Chris held a variety of positions in investment banking and capital markets at ABN AMRO Bank, including derivative sales and fixed income and structured note origination. He began his career with CIBC’s Capital Markets Group in 1988 with responsibility for derivatives and debt origination. Chris holds a B.A. in Chemical Engineering from Northwestern University and an MBA form the J.L. Kellogg Graduate School of Management.

John E. Rickmeier, CFA
President and Chief Executive Officer
IDC Financial Publishing, Inc.

Mr. Rickmeier has over 45 years of experience in evaluating financial institutions. In 1984, Mr. Rickmeier converted the regulatory accounting submitted in Call Reports to the Office of Thrift Supervision into Generally Accepted Accounting Principles (GAAP).  With the GAAP database on thrifts and banks, IDC was uniquely positioned to analyze the Ohio crisis and subsequent failure of many banks and thrifts.  As CEO of IDC Financial Publishing, Mr. Rickmeier designs and manages the processes and analytics used in the evaluation of bank, savings institutions and credit union financial ratios, the value-added evaluation of bank investment portfolios, the value-added analysis of bank loan portfolios, and the efficiency analysis of the cost of funding a financial institution. Mr. Rickmeier and his analytical team evaluate and rank quarterly over 15,000 banks, savings institutions, and credit unions.  IDC ratings of financial institutions have become the standard in evaluating the safety and soundness of institutions issuing brokered certificates of deposit.  IDC ratings are used by Federal Reserve banks, Fannie Mae, Freddie Mac, Ginnie Mae, insurance and credit card companies, and many state and municipalities as a guide for determining financial relationships. IDC ratings are also used by financial firms specializing in brokered certificates of deposit, individuals and institutions investing in certificates of deposit, and individuals concerned about their bank safety rating. Before founding IDC Financial Publishing, Inc., Mr. Rickmeier acted as both chairman of an investment committee and portfolio manager for a Midwest investment advisory firm.  Prior to 1972, as chief economist for a New York investment strategy firm, he consulted with over 300 financial institutions.

Larry Wilson
Executive Director
JP Morgan

Larry is a senior marketer with the Structured Investments team for JPMorgan, responsible for marketing cross-asset structured investments through registered investment advisors, regional broker/dealers, trust companies, and private banks in the United States.  Larry is also responsible for managing the team’s distribution efforts in regards to Interest Rate linked products across the entire platform. Larry holds a Bachelor of Science in Finance from Oakwood College in Huntsville, AL and a Masters of Business Administration from University of Chicago - Booth.

Structured Products Panel

Sarah Lem
Vice President, Global Investment Solutions Group
RBC Capital Markets

Sarah Lem is a Vice President in the Global Investment Solutions Group at RBC Capital Markets. Ms. Lem joined RBC in 2009 and is responsible for cross-asset OTC and structured notes sales. Previously, Sarah was at Goldman Sachs Asset Management in Institutional Sales. Ms. Lem graduated with honors from the University of Pennsylvania.

Larry Wilson
Executive Director
JP Morgan

Larry is a senior marketer with the Structured Investments team for JPMorgan, responsible for marketing cross-asset structured investments through registered investment advisors, regional broker/dealers, trust companies, and private banks in the United States.  Larry is also responsible for managing the team’s distribution efforts in regards to Interest Rate linked products across the entire platform. Larry holds a Bachelor of Science in Finance from Oakwood College in Huntsville, AL and a Masters of Business Administration from University of Chicago - Booth.


Contact Information

  • George Barbar - President, SFBTA
    (561) 302-4343
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