2018 FALL - Association of Corporate Treasurers · 2018 Fall Treasurers Conference 3 ... Opening Networking Reception We invite you to join us for a welcome reception where you can

2018 Fall Treasurers Conference 1

November 14-15, 2018 Hyatt Regency O’Hare

Rosemont, IL

TREASURERS2018 FALL

CONFERENCE

CONFERENCE PROGRAM

2 2018 Fall Treasurers Conference

TABLE OF CONTENTS

3 Conference Highlights

4 Conference Agenda

7 Moderators & Speakers

10 Corporate Sponsors


CONFERENCE HIGHLIGHTS

WEDNESDAY, NOVEMBER 14Opening Networking ReceptionWe invite you to join us for a welcome reception where you can interact with your fellow corporate treasurers and representatives from our valued corporate sponsor companies in a relaxed and informal setting.

THURSDAY, NOVEMBER 15“Vegas Rules” Open ForumNACT’s most popular session! What YOU want to discuss: Gain insight - in a confidential setting – into how your peers have solved problems currently facing your organization.

Featured Guest SpeakersRobert DanzigerManaging DirectorMUFG, Capital Markets

Mark OesterleSenior Vice President & Director of Federal Government RelationsSunTrust Robinson Humphrey

Amol DhargalkarManaging DirectorChatham Financial

Richard Magrann-WellsProduct Sales LeadAdjoint Inc.

Hayden Gallary, CFA Managing DirectorCambridge Associates

Holly Verdeyen, CEBSSenior DirectorDefined Contribution StrategyRussell Investments

General Sessions• LIBOR Reform – New Reference Rates ARE Coming• An Insider’s View from Washington – Election Results and Expected Changes in Financial

Regulations, Taxes, Foreign Trade Agreements, and Other Effects for Treasurers• Fintech for Treasurers – How Treasury Systems Can Benefit from the Latest Technologies• How to Make Sure Your Employees Are Ready for Retirement


CONFERENCE AGENDA

WEDNESDAY, NOVEMBER 14

6:00 – 8:30 pmConference Center Foyer

Opening Networking Reception

The NACT Board of Directors welcomes everyone to join a reception where you can interact with your fellow corporate

treasurers and representatives from our valued corporate sponsor companies in a relaxed and informal setting.

THURSDAY, NOVEMBER 15

8:00 – 8:45 amMidway Room

Conference Registration & Breakfast with Guest Speaker

LIBOR Reform – New Reference Rates ARE Coming

Treasurers around the world are preparing for the day when the interest rate indexes we have been using, in some cases

since the mid-1980s, will no longer be available. More than US$ 300 trillion of financial instruments, from adjustable rate home

mortgages, to credit cards, to corporate loans, along with a whole book of intra-group transactions are all priced using the

London Inter-bank Offered Rate (“LIBOR”). Hear how treasurers should prepare for this sweeping change affecting financial

markets in the U.S., Europe, U.K., Japan, and around the world.

SPEAKER – ROBERT DANZIGER

Managing Director

MUFG, Capital Markets


“Vegas Rules” Open Forum

This is a time for treasurers to choose the topics and issues for an open and candid discussion – an important, confidential

exchange that is a traditional part of every NACT conference, where the focus is always on “Treasurers Talking to Treasurers.”

MODERATOR – RUUD ROGGEKAMP

Assistant Treasurer – Corporate Finance & Banking

The Boeing Company

MODERATOR – PETER SEREDA

Senior Vice President—Finance

Telephone and Data Systems, Inc.

10:15 – 10:30 amConference Center Foyer

Morning Refreshment Break


Open Forum [Continued]

11:45 am – noonConference Center Foyer

Break

12:00 pm – 1:30 pmO’Hare Private Dining Room

Lunch & An Insider’s View from Washington

With the 2018 elections just completed Mark Oesterle will analyze the results along with his outlook for changes in financial

regulations, taxes, foreign trade agreements, and other effects for treasurers.

SPEAKER – MARK OESTERLE

Senior Vice President & Director of Federal Government Relations

SunTrust Robinson Humphrey



Break

1:45 – 3:15 pmMidway Room

Fintech for Treasurers – How Treasury Systems Can Benefit from the Latest Technologies

Join a discussion of:

• How treasury teams can employ Business Intelligence to deliver compelling, insightful FX reports that reveal to business

leaders their exposures and profit-making opportunities. Business Intelligence.

• How new technology can empower your business to achieve new levels of efficiency, risk management and controls by

using blockchain and smart contracts built for enterprise finance. Explore how you can help your organization improve

productivity and margins, enhance client service and drive strategic innovation.

MODERATOR – THOMAS C. DEAS, JR.

Vice President & Treasurer

FMC Corporation (Retired)

SPEAKER – AMOL DHARGALKAR

Managing Director

Chatham Financial

SPEAKER – RICHARD MAGRANN-WELLS

Product Sales Lead

Adjoint Inc.


Afternoon Refreshment Break

3:30 – 5:00 pmMidway Room

How to Make Sure Your Employees Are Ready for Retirement

Here we’ll discuss with recognized thought leaders on retirement solutions several hot topics in DB and DC plans, including

solutions to address the increasing longevity of participants, trends toward participants remaining in employer-sponsored

plans long after retirement, and how innovative asset allocation solutions may improve outcomes.

MODERATOR – RAMON YI

Senior Director, Treasury

Port of Houston Authority

SPEAKER – HAYDEN GALLARY, CFA

Managing Director

Cambridge Associates

SPEAKER – HOLLY VERDEYEN, CEBS

Senior Director – Defined Contribution Strategy

Russell Investments


Closing Reception

CONFERENCE AGENDA


BOARD OFFICERSChairmanThomas C. Deas, Jr.Vice President & TreasurerFMC Corporation (Retired)

PresidentMichael R.WilliamsVice President & Treasurer

Executive Vice PresidentBjork HupfeldGlobal TreasurerThe Hershey Company

Secretary/TreasurerRuud P. RoggekampAssistant Treasurer, Corporate Finance & BankingThe Boeing Company

Immediate Past ChairmanRamon YiSenior Director, TreasuryPort of Houston Authority

BOARD MEMBERSNicholas Bijur Vice President & Treasurer Pacific Gas & Electric Corporation

Bradley FoxVice President & Treasurer

Allen A. GellerExecutive Vice President & TreasurerRaines International, Inc.

Gerard A. Halpin IIIPresident & Chief Executive OfficerSiemens Capital Company Llc

Mary Dean HallChief Financial OfficerQuaker Chemical Corporation

Kimberly A. HunterTreasurer & Vice President

Karen N. LathamCorporate Treasurer

Richard D. MooreCorporate TreasurerCaterpillar, Inc.

Colleen O’ConnorVice President & TreasurerThe Chamberlain Group, Inc.

Otis O. OtihGlobal Treasury DirectorMARS, INC.

Mark W. PetersonVice President & Treasurer

Susan PlotzkyTreasurer

William M. RiggerGroup Assistant TreasurerWillis Towers Watson

Peter L. SeredaSenior Vice President-Finance & TreasurerTelephone & Data Systems, Inc.

J. Darrell ThomasVice President & TreasurerHarley-Davidson, Inc.

Kevin WilsonVice President & TreasurerIngredion Incorporated

Ted YerdonVice President & TreasurerSteel Partners Holding LP

NACT BOARD OF DIRECTORSThe NACT Board is comprised of member treasurers and acts in the best interests of the membership. All Board members are accessible to the NACT membership and feedback is welcomed on all NACT topics. In recent months, the Board has approved two advocacy positions urging restraint on proposed regulations for the money market fund industry and OTC Derivatives, and Board Executive Committee Officers have participated on Washington task forces to further this message. The NACT Chairman also represents the organization at the Annual Conference of the International Group of Treasury Associations, a global forum to share information on issues that impact the treasury and finance profession and serves on the Steering Committee of the Coalition for Derivatives End-Users.


ROBERT DANZIGER

Managing Director

MUFG, Capital Markets

Robert Danziger joined MUFG in December 2017 to lead efforts across

the U.S. investment-grade syndicated loans business. Based in New York,

Robert’s responsibilities include Midwestern U.S. as well as General Industry

clients. He joined MUFG from Deutsche Bank Securities Inc., where he had

been Head of Investment Grade Loan Capital Markets for the Americas

since 2004. While at Deutsche Bank, Robert was a member of the groups

that won IFR’s Global Loan House of the year in 2013 and Deal of the Year in

2010. He also worked at Citicorp Securities Inc./Salomon Smith Barney, First

Chicago, and Chemical Bank. Robert has over 25 years of experience in the

industry. He received his B.A. from Union College and his MBA from New

York University’s Stern School of Business.

THOMAS C. DEAS, JR.

Vice President & Treasurer (Retired)

FMC Corporation

Chairman

NACT Board of Directors

Thomas C. Deas, Jr. is the current Chairman of the National Association of

Corporate Treasurers, having also served a previous term as its Chairman

from 2011 through 2013. From 2001 until his retirement in 2016, he served

as Vice President and Treasurer of FMC Corporation (NYSE: FMC), with

responsibility for the worldwide treasury function, including financing,

treasury operations, pension investments and funding, and insurance

and risk management. Prior to joining FMC, he served as Vice President,

Treasurer and CFO of Applied Tech Products Corp., of Airgas, Inc. (NYSE:

ARG) and of Maritrans Inc. (NYSE: TUG). Prior to these positions, Mr. Deas

was employed for 18 years at Scott Paper Company (NYSE: SPP), where

he served in various capacities in finance and treasury. Mr. Deas received

a BS in Physics from the University of South Carolina. Following service

as a destroyer officer in the U.S. Navy, he received an MBA from the

Wharton School of the University of Pennsylvania. He is the past Chairman

of the International Group of Treasury Associations and is a director of the

University of South Carolina Educational Foundation and its Investment

Policy Committee. He has served as a member of the Financial Stability

Board’s Market Participants’ Group and is a current representative to the

Federal Reserve’s Alternative Reference Rates Committee. Both these

efforts are charged to recommend changes concerning how LIBOR and

other interest rate indexes are determined. Mr. Deas is a member of the

steering committee of the Coalition for Derivatives End-Users. He is a

frequent speaker at investor conferences and professional forums.

AMOL DHARGALKAR

Managing Director

Chatham Financial

Amol Dhargalkar is a Managing Director and member of Chatham's

Operating Committee. He leads the Global Corporate Sector serving public

and private corporations focusing on interest rate, foreign currency and

commodity risk management. He joined Chatham in 2001 and launched

its Corporate Sector offerings in 2007. Amol has advised a broad spectrum

of public and privately held companies as well as corporate private equity

sponsors on the structuring, implementation, and accounting of their risk

management programs totaling more than US $500 billion in hedged

notional. Amol graduated from Pennsylvania State University with a BS in

Chemical Engineering and a BS in Economics. He also received his MBA

from The Wharton School at the University of Pennsylvania where he was a

Palmer Scholar.

HAYDEN GALLARY, CFA

Managing Director

Cambridge Associates

Hayden Gallary is a Managing Director in Cambridge Associates’ Pension

Practice and is based in the firm’s San Francisco office. He advises clients on

investment issues such as asset allocation strategy, manager selection, and

investment program evaluation. Hayden works with a number of pensions

and institutional clients in the US ranging in size from $20 million to more

than $3 billion. He is also the leader of the firm’s efforts in the Defined

Contribution space. Hayden has over 13 years of investment experience.

Prior to joining Cambridge Associates in 2008, Hayden worked at The Rock

Creek Group, a diversified hedge fund-of-funds. Previously, Hayden was

a member of the Global Asset Allocation Group at Putnam Investments for

three years. While there, he focused on quantitative research regarding

short and intermediate term allocation decisions across global equity and

fixed income markets. He also was involved in the management of Putnam's

age-based retirement and college savings funds. Hayden’s credentials

include CFA Charterholder. He graduated with a BA in Economics and

Mathematics from Yale University, and earned an MBA from the Sloan

School of Management at MIT.

MODERATORS AND SPEAKERS


RICHARD MAGRANN-WELLS

Product Sales Lead

Adjoint Inc.

Richard Magrann-Wells is a lawyer and financial services professional

with experience in insurance, finance, and trading. He as worked for

Willis Towers Watson, Merrill Lynch, Citibank and Wells Fargo. He led a

fintech practice, managed various capital markets teams and has written

extensively on financial regulation. He leads product sales at Adjoint Inc.,

which empowers enterprises to achieve new levels of efficiency and control

by delivering blockchain technology built specifically for the needs of the

financial industry and their customers. With security and privacy at the core,

Adjoint products are specifically designed to improve the reconciliation of

data among employees, departments, and companies.

MARK OESTERLE

Senior Vice President & Director of Federal Government Relations

SunTrust Robinson Humphrey

Mark Oesterle is responsible for advising management with respect to federal

legislative, regulatory and political matters which includes assessing the key

interests of the financial institution and developing legislative and regulatory

lobbying efforts designed to advance those interests. Additionally, Mr. Oesterle

consults with the Lines of Business regarding new products and services

to ensure political and reputational considerations are addressed. He also

works with leadership to identify, develop and stand up community outreach

programs that span the entire footprint of the organization. Finally, he

provides briefings and political analyses to key clients and strategic partners.

Immediately prior to working for SunTrust, Mr. Oesterle served as Counsel at

the global law firm Reed Smith, where he provided legal, compliance and

political advice to several different types of financial institutions. From 2001 to

2010, Mr. Oesterle served in various capacities on the staff of the U.S. Senate

Committee on Banking, Housing, and Urban Affairs, including as the Chief

Counsel, Parliamentarian, and Deputy Chief of Staff. During this time, Mr.

Oesterle was involved in every key issue that came before the Committee,

including Sarbanes-Oxley, housing finance reform, deposit insurance reform,

the financial crisis and the Dodd-Frank Act. Mr. Oesterle also served on

the personal staffs of U.S. Senator Richard Shelby and Representative Fred

Heineman. Mr. Oesterle received a B.A. from Fordham University in New York

and a J.D. from the George Washington University Law School in Washington,

D.C. He is married to Elizabeth Treanor Oesterle and lives with his wife and

two children in Washington, D.C.

RUUD ROGGEKAMP

Assistant Treasurer

Corporate Finance & Banking

The Boeing Company

Ruud Roggekamp is Assistant Treasurer for The Boeing Company. In this

role, Ruud is responsible for capital structure strategy, debt and equity

funding, dividend policy, board communications, Financial Assurance/Letters

of Credit, investment and commercial banking relationships, rating agency

relationships, fixed income investor relations, corporate and intercompany

guarantees, business unit financings and Treasury financial planning &

analysis. Ruud Joined The Boeing Company in 2001 from FMC Corporation,

a $5 billion chemical and machinery conglomerate, where he worked since

1990 and was successively Assistant Treasurer, Director of Financial Planning

and Analysis, and Controller of the Food and Transportation business. Before

that, he worked at Fokker Aircraft in Amsterdam, The Netherlands and A.T.

Kearney Management Consultants. Ruud, a chartered financial analyst (CFA)

received his MBA from the Erasmus Rotterdam School of Management with

a semester at Northwestern’s Kellogg School. He also earned his Master’s

Degree in Aeronautical Engineering from Delft University of Technology in The

Netherlands and has obtained his private pilot’s license. Ruud serves on the

board of trustees for the Financial Executives Research Foundation (FERF) and

he serves on the executive board of the National Association of Corporate

Treasurers (NACT). He is a member of Financial Executives International.

Ruud resides with his wife and three children in the Chicago area.

PETER SEREDA

Senior Vice President—Finance

Telephone and Data Systems, Inc.

Peter L. Sereda is Senior Vice President -- Finance of Telephone and Data

Systems, Inc. [NYSE: TDS], a diversified telecom¬munications corporation

headquartered in Chicago. He is responsible for long- and short-term

financing, stock repurchase, equity capital markets transactions, cash

management, short term investments, commercial and investment banking

relationships, risk management and pension/401K management. Sereda

joined TDS in 1998 as vice president and treasurer.

Prior to joining TDS, Sereda was vice president of finance operations, and

vice president and treasurer, for Specialty Foods Corporation. Previously, he

was treasurer of Duchossois Industries, Inc.

MODERATORS AND SPEAKERS


Sereda is a member of the National Association of Corporate Treasurers; Chi

Epsilon, the national civil engineering honor society; Tau Beta Pi, the national

engineering honor society; and Beta Gamma Sigma, the international

business honor society.

Sereda received an MBA in finance and statistics from the University of

Chicago Graduate School of Business, and a BS in civil engineering and

economics from the Massachusetts Institute of Technology.

HOLLY VERDEYEN, CEBS

Senior Director

Defined Contribution Strategy

Russell Investments

Holly Verdeyen is responsible for the strategic direction and growth of

Russell Investments’ U.S. institutional defined contribution (DC) business.

Her primary focus includes partnering with the firm’s institutional consulting,

sales, and client service groups to lead innovation in and create visibility

for the DC segment. Additionally, she is responsible for promoting DC

investment services, including default investments – target date collective

trusts, custom target date portfolios and Russell Adaptive Retirement

Accounts (ARA). Holly also shares Russell Investments’ perspective on

trends in the defined contribution market while offering advice on best

practices in institutional plan design. Holly joined Russell Investments in

2013 from UBS Global Asset Management, where she was a DC specialist

in the Defined Contribution and Retirement Solutions group, focusing on

investment solution support and client relationship management, as well

as broad retirement solutions and guaranteed lifetime income. She joined

UBS Global Asset Management in 2003 from Blackrock (formerly Barclays

Global Investors), where she was in a business development role within the

Defined Contribution Group.

Holly holds a B.A. from St. Norbert College and an M.B.A. from Northwestern

University’s Kellogg School of Management. She is a Licensed Registered

Representative holding FINRA Series 7 and 63 qualifications acting on behalf

of Russell Financial Services, a member of FINRA. Holly is a member of the

Economic Club of Chicago and serves on the Employee Benefit Research

Institute (EBRI) Board of Trustees and the American Benefits Council’s Board

Advisory Committee. Holly has attained the Certified Employee Benefits

Specialist designation.

RAMON YI

Senior Director

Treasury

Port of Houston Authority

Ramon (“Ray”) Yi is Senior Director, Treasury, for the Port of Houston

Authority, with primary responsibility for cash, debt and investment

management, banking and rating agency relationships, mitigating financial

risk exposures, as well as oversight of pension and benefit finance issues.

Ray has over 40 years of finance, accounting, credit, and risk management

experience in a variety of industries, including the energy, healthcare and

high-tech sectors. He has served as Vice President and Treasurer of large

multinational corporations, including Transocean and Ensco, both oil and

gas drilling contractors, as well as Sunrise Medical and Fresenius Medical

Care, both manufacturers of medical devices and equipment, and Symbios,

a manufacturer of semiconductor chips. Ray graduated cum laude from

Harvard and earned an MBA degree with honors from Boston University.

He holds the designation of Certified Cash Manager (“CCM”) and is a

member of the Board of Directors of the National Association of Corporate

Treasurers, where he serves on the Executive Committee and is the

Immediate Past Chairman.


CORPORATE SPONSORSThe National Association of Corporate Treasurers gratefully acknowledges the following companies for providing corporate support to assist us in achieving greater education and communication among our members:

AdjointAdjoint specializes in solving the most complex problems in enterprise environments. We leverage our own private & permissioned blockchain infrastructure, which is specifically designed for the most regulated and security reliant ecosystems. Adjoint aims to empower global organizations with a new level of control that ensures privacy and confidentiality of data, in addition to automating workflows and processes.

Bank of America Merrill LynchBank of America Merrill Lynch is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. The company provides, through various banking and broker-dealer affiliates, M&A advice, equity and debt capital raising solutions, lending, risk management, treasury, liquidity, and payments management.

Cambridge AssociatesCambridge Associates is a global investment firm, building custom investment portfolios that aim to generate outperformance for pension plans, private clients, and endowments & foundations. With offices in North America, Asia, Australia and Europe, Cambridge Associates delivers a range of services, including discretionary and non-discretionary portfolio management.

Chatham Financial Chatham Financial provides solutions for managing interest rate, currency, and commodity risk. We partner with treasury and accounting using a different approach - combining our consulting, technology and operating capabilities to solve our clients’ specific challenges. We offer services such as strategic hedging program design, holistic hedge accounting, and ChathamDirect.

Fitch RatingsDedicated to providing value beyond the rating, Fitch Ratings is a leading provider of credit ratings, commentary and research. Fitch Group is a global leader in financial information services and is comprised of: Fitch Ratings, Fitch Solutions, Fitch Learning, and BMI Research. With dual headquarters in London and New York, Fitch Group is majority owned by Hearst. For additional information, please visit www.fitchratings.com.

FM GlobalEstablished nearly two centuries ago, FM Global is a mutual insurance company whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management. Mitigating risk is the mark of resilient companies. And it’s a big reason why more than one-third of Fortune 1000 companies choose to partner with FM Global. Learn more at www.fmglobal.com.

Insight InvestmentInsight Investment is a global investment manager focused on delivering outcome-oriented solutions across fixed income, absolute return strategies and risk management solutions. With over $780bn in assets under management, Insight works in partnership with clients and their advisers to develop and deliver dynamic investment solutions reflecting the client’s objectives, risk tolerance and time horizons.

Moody’s Investors Service Moody’s Investors Service is a leading provider of credit ratings, research, and risk analysis. Moody’s commitment and expertise contributes to transparent and integrated financial markets. The firm’s ratings and analysis track debt covering 135+ sovereign nations, 5,000 non-financial corporates, 4,000 financial institutions, 18,000 public finance issuers, 11,000 structured finance transactions, and 1,000 infrastructure and project finance issuers.


Morningstar Credit RatingsMorningstar Credit Ratings is redefining the industry’s expectation of what a ratings agency should be. We provide issuers and investors with insightful analysis and informative opinions of credit risk. Our experienced credit ratings analysts cover corporates, financial institutions, REITs, CRTs, SFRs, and CLOs, as well as CMBS, RMBS, and ABS.

MUFGMUFG is one of the world’s leading financial groups. Headquartered in Tokyo and with approximately 360 years of history, MUFG has a global network with over 1,800 offices in over 50 countries. The Group offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing.

PWCPwC’s capabilities across consulting, deals, and forensics create value for our clients — building trust and helping to solve their most important problems, from strategy through execution. The Financial and Treasury Management team at PwC applies our deep technical and functional experience to assist clients across all areas relating to Treasury operations — focusing on people, process, and technology. Our renowned global network of corporate treasury professionals means that we can bring the right skills and capabilities to help our clients achieve success anywhere. For more information, please visit: www.pwc.com/us/treasury.

Russell InvestmentsIn today’s challenging investment environment, many Treasurers are looking for more than just advice. For nearly 50 years, Russell Investments has created innovative solutions for defined benefit, defined contribution, and non-profit investors of all sizes. Challenges are part and parcel of a Treasurer’s job. We’re here to help. www.RussellInvestments.com/institutional.

S&P Global Ratings S&P Global Ratings is a leading provider of credit ratings. Our ratings are essential to driving growth, providing transparency and helping educate market participants so they can make decisions with confidence. Learn more at www.spglobal.com/ratings.

SunTrust Robinson Humphrey SunTrust Robinson Humphrey is the trade name for the corporate and investment banking services of SunTrust Banks, Inc., providing comprehensive capital raising, strategic advisory, risk management, and investment solutions to corporate clients across the nation. It offers a complete array of solutions for companies across all industries, with in-depth industry expertise across eight core sectors.

Treasury Strategies, a division of Novantas, Inc.,Treasury Strategies, a division of Novantas, Inc., creates superior value assisting corporations across a wide range of treasury challenges and treasury technology needs, focusing on: Assessment, Optimization and Implementation. We serve corporate treasurers, their financial services providers and technology providers for the complete 360° view of treasury.

Willis Towers WatsonWillis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 39,000 employees in more than 120 countries. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance. Together, we unlock potential.

2019 National ConferenceMay 29-31

The Princeton Club

New York, NY

Documents

2018 FALL - Association of Corporate Treasurers · 2018 Fall Treasurers Conference 3 ... Opening Networking Reception We invite you to join us for a welcome reception where you can