Italian Banking & NPL Management
Milan, Italy
September 8, 2022

Description

IMN’s 5th Annual Investors’ Conference on Italian Banking & NPL Management will return to Milan, Italy on September 8th to address the latest updates in the NPL market.

With Covid creating an inevitable new wave of non-performing loans and increase in unlikely-to-pay (UTP), this area continues to provide a topic of conversation and opportunities for investors for the foreseeable future. Additionally, in recent years, the NPL market has been subject to disruptive evolutions and systemic banks have undergone a deep review of their operating models and a strong deleverage process. Establishing an environment conducive to NPL resolution will require the participation of NPL buyers, sellers, regulators, servicers, structuring banks, rating agencies and other key participants, and will facilitate the establishment of a robust secondary market.

The 2022 edition will once again provide a networking platform for experts in bankruptcy and insolvency counseling, capital markets advisory, and investment banking teams who are working on creative capital markets solutions for restoring bank balance sheets to health and play a part in the strategic reform of NPL management in the Italian banking system. The increase of the UTP model and challenger banks will once again feature as a leading headline amongst other industry pressing Italian and Pan-European topics.

We look forward to seeing you this September!

Who Should Attend
  • Italian banks looking to re-capitalise
  • Private funds looking to invest in NPLs
  • Legal counsel
  • Rating agencies
  • Servicers
  • Banks facilitating NPL transactions

Investors 127

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Agenda

    Thursday, 08 September 2022

      08:00
      Registration Opens & Delegate Breakfast



      09:00
      The Italian Banking System: Macro Impacts and NPL Market Overview

        • Impact of macroeconomic and geopolitical factors on the Italian banking system and NPL market
        • NPE Market Performance – long-term impacts of Covid and increased bad debt sector exposure i.e., retail, leisure, tourism etc. and broader impacts from Russia/Ukraine exposure
        • Where are we in the market cycle? Is the Italian market reaching maturity, or have we already arrived there?
        • Developments in regulatory and legislative actions. E.g., European Commission’s NPL strategy, bank deleveraging targets, EBA Template and Taxonomy, and capital markets recovery package
        • ESG considerations: The emergence of Green NPLs and the opportunities of purchasing distressed green energy assets


        • Umberto Rasori, Chief Executive Officer (Zenith Service SpA)
        • Romina Rosto, Managing Director, Head of the Advisory and Origination - Asset Backed Products (Societe Generale)
        • Massimo Famularo, Servizio Finanza e NPE (Luigi Luzzatti S.C.p.A.)

      09:45
      GACS securitisation: Past Performance and New GACS Scheme

        • Transaction volume and potential of Italian NPL and UTP markets. Review of 2022 and outlook for 2023 and beyond
        • Importance of GACS for sustainability of the Italian NPL market. How has GACS boosted NPL disposal volumes and bank deleveraging? And how would a GACS extension be renewed and structured?
        • How will further market volatility impact financing and spreads? How has the fallout from the pandemic affected pricing and investor appetite?
        • Rating agency activity and performance of rated transactions
        • How will the EBA taxonomy impact the NPL securitisation market?
        • Impact of the Law Decree on ReoCo and LeaseCo incorporation in to NPL Securitisation transactions.


        • Gianrico Giannesi, Partner (Chiomenti)
        • Vincenzo Sanasi d'Arpe, CEO (Consap)
        • Marco Angheben, Head of Business Development & Regulatory Affairs (European DataWarehouse GmbH)
        • Diego Bortot, Chief Asset Management, Real Estate & Servicing (Zenith Service S.p.A.)

      10:30
      Networking Refreshment Break

      • Courtesy of:



      11:00
      Keynote: To be Announced Soon!



      11:30
      NPL Seller Assessment and Strategies

        • Year in review: Evaluation of the seller spectrum over the last 12 months. How is M&A activity affecting the space?
        • NPE Seller Strategies - Adapting to Market Demands, Repricing and increased in NPL and UTPs
        • How do NPL prices compare in 2022 to 2021? What is the outlook for 2023?
        • Alternatives to conventional securitisation: Is there a demand for whole loan portfolio sales or balance sheet recovery management?
        • What performance trends are we seeing across the asset spectrum?


        • Jonika Kromidha, Head of NPE Optimization, Direzione Active Credit Portfolio Steering – CFO Area (Intesa Sanpaolo)

      12:15
      Servicer Landscape & Underwriting Technology Advancements

        • How will the rapidly changing servicer landscape impact the Italian NPE market? What opportunities and challenges do an increased number of services have on the market?
        • Servicer Challenges Going Forward: Restructuring/Turnarounds and Workouts
        • M&A activity and consolidation trends and impacts for the servicer landscape. Does consolidation allow servicers to implement more sophisticated propositions?
        • Role of technology, data, and analytics for NPL market recovery?
        • How can data create more robust underwriting and attract further investors to the space? How can servicers capitalise on data and analytics information?


        • Samuele Di Biase, Chief Operating Officer, 130 Servicing (130 Servicing S.p.a)

      13:00
      Delegate Luncheon & Networking Break



      14:00
      The Rise of UTP

        • How much of an opportunity does the UTP market represent for the growth and sustainability of the NPE market and overall balance sheet optimisation for the Italian market?
        • Will UTP be the restructuring of the Italian market due to slow down of securitisation under the GACs scheme?
        • The role and emergence of challenger banks in UTP and early stage NPEs – Analyzing Asset Quality and Unlikely to Pay post-Covid and during volatile market conditions.
        • How differently do UTPs need to be treat, compared to normal NPLs? How do Rating Agencies view and analyse UTP vs NPL portfolios?
        • What role will UTP have on new growth of servicers?
        • How can these structures be best leveraged to allow omission from bank originators?


        • Vittorio Savarese, Managing Director (Intesa Sanpaolo)
        • Giuseppina Martelli, Director (S&P Global Ratings)
        • Vittorio Pozzi, Partner (Legance)
        • Umberto Paolo Moretti, Head of Turnaround (Illimity)

      14:45
      Spotlight on Pan European NPL Markets

        • Is Italy leading the way for other European NPL markets? What can Italy learn from other jurisdictions?
        • Market size and transaction volumes for other key and emerging NPE jurisdictions i.e., Greece, Cyprus, Portugal, Spain, France, and the UK and Ireland. Are we also starting to see more emerge from Eastern Europe?
        • What idiosyncrasies exist among these different NPE jurisdictions? Where are market participants seeing the most value, and how is current asset quality and eligibility being viewed?
        • How can state sponsored guarantee mechanisms help aid the growth of other NPE jurisdictions?


        • Natalia Joubrina, Head of NPLs for Southern Europe (AnaCap Financial Partners)
        • Alberto Cruces de la Rosa, Assistant Vice President (DBRS Morningstar)

      15:30
      Networking Refreshment Break



      16:00
      Secondary Market Considerations

        • How much of a key role will the secondary market for NPEs over the next few years? Is this where the market sees more opportunity?
        • What are the key trends in the secondary market right now?
        • Is the European Parliament’s secondary market directive facilitating increased liquidity and investor participation?
        • Is there an alignment of interest in the secondary market between servicers and equity/junior investors?
        • Performance analysis to date: Volumes and reformation performance
        • Rating Agency perspective: Business to action plan


        • Laura Gasparini, Board Member - Head of Market and Investment (Cherry Bank S.p.A.)
        • Matteo Tonani, Asset Backed Products (Societe Generale)
        • Andrea Giannelli, Senior Partner (Legance - Avvocati Associati)
        • Francesco Paolo Bellopede, Country Head (Debitos)

      16:45
      Investor Considerations

        • What post-Covid opportunities exist for investors in the NPE market? Are investors becoming increasingly attracted towards UTPs?
        • How do investors view the performance of Italian NPEs over other jurisdictions, and other asset classes?
        • Is securitisation the most investor confident option for buying NPLs?
        • Are investors looking to purchase at less opportunistic levels? Does this allow servicers to play catch up?
        • Are investors seeing a shift in monopoly of the NPE and financing market? How can investors manage declining volumes in the primary market? Will higher reselling of sub-portfolios help increase the secondary market investor base?
        • Investing in NPEs as a first-time buyer – what are the obstacles and opportunities?


        • Pierre Lussato, Managing Director - Europe (Bayview International)
        • Pier Paolo Radaelli, Managing Director (LCM Partners)
        • Gaudenzio Bonaldo Gregori, CEO & Managing Partner (Pillarstone)
        • Guido Lombardo, Chief Executive Officer (CEO) (Gardant Investor SGR)

      17:30
      Networking Drinks Reception & Conference Concludes



Sponsors

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  • NPL Seller/NPL ABS Issuer Rate - €995
  • NPL Investor Rate - €1,195
  • Standard Rate - €2,295
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Contact Us

Venue

  • Conference Venue
  • Melia Milano


    Via Masaccio, 19
    Milan, 20149
    Italy

Speakers


1120 Avenue of the Americas, 6th Floor, New York, NY 10036
Tel: +1(212)901-0506 Fax: +1(212)768-2484
Email: mail@imn.org


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