INVESTMENT FORUM at the University Club 1 West 54th Street (at Fifth Ave) Hosted by: Richard Fitzburgh - Senior Vice President, Financial Advisor Joel Chase - Senior Vice President, Financial Advisor Sam McGuire - Vice President, Financial Advisor
Thursday, June 14, 2012 7:30am - 2:30pm
7:30 - 8:00am Registration and Breakfast
8:00 - 9:15am Economists 1) Speaker: Thomas Philippon - John L. Vogelstein Faculty Fellow and Associate Professor of Finance at New York University - Stern School of Business. Topic: Eurobonds - Thomas Philippon’s research focuses on finance and macroeconomics. It includes empirical and theoretical work on financial distress and systemic risk; the links between asset markets, corporate investment and firm dynamics; the evolution of the financial industry; the design of optimal interventions during financial crises; labor relations and unemployment; corporate governance and accounting manipulations. Philippon has won the 2010 Michael Brennan & BlackRock Award (for best paper in the Review of Financial Studies), the 2009 Prize for Best Young French Economist (Cercle des économistes/ Le Monde), the 2008 Brattle Prize for the best paper in Corporate Finance (Journal of Finance), and the Stylo d’Or de l’ANDRH in 2007 (for the best book on Human Resources Management). He was elected Global Economic Fellow in 2009 by the Kiel Institute for the World Economy. Philippon graduated from Ecole Polytechnique, received a PhD in Economics from MIT, and joined New York University in 2003.
2) Speaker: Tom Porcelli - Chief U.S. Economist, RBC Capital Markets Topic: Economic Momentum Heading into 2013 - As RBC Capital Market’s Chief U.S. Economist, Tom Porcelli focuses on piecing together the US backdrop as part of the global economic effort. This entails crafting a US economic framework based on analysis of the hi-frequency data while taking into account the monetary and fiscal policy environment. He works closely with the various functional units within RBC Capital Markets. Tom travels globally to meet with RBC clients to share his insights on the US economy and markets. Prior to joining RBC he worked as an economist at Merrill Lynch where he was a member of the team responsible for economic forecasting and Fed watching. In this role, he worked closely with the fixed income trading desks. He began his career at the Federal Reserve Bank of New York working on the Open Market Desk. In this capacity, Tom was closely involved with the implementation of monetary policy. In addition, he was responsible for disseminating pertinent economic and market analysis to policy makers in an effort to provide them with critical information used in the policy making process. He appears regularly on CNBC, CNN, Bloomberg and is quoted widely in the global press. Tom holds a Masters degree from Columbia University.
3) Speaker: Georges Ugeux - Founder, Galileo Global Advisors LLC Topic: Global Dimensions of the European Debt Crises - Georges founded Galileo Global Advisors LLC to offer CEOs, Boards of Directors and Governments independent advice on international business development, restructuring, compliance and capital market issues. Georges Ugeux, a 66-year old Belgian national, began his career in 1970 at Societe Generale de Banque (now BNP Paribas Fortis), the leading Belgian bank, where he became General Manager of the investment banking and trust division. His career led him to London in 1985, as Managing Director of Morgan Stanley’s Mergers and Acquisitions department. In 1988, he was appointed Group Finance Director at Societe Generale de Belgique, the leading Belgian diversified industrial and financial conglomerate. In 1992, he became president of Kidder, Peabody Europe as well as Managing Director while serving as a member of the Management Committee and the Board of Directors of Kidder, Peabody, Inc. He was put in charge of the firm’s global origination efforts. In addition, he was also a member of the European Corporate Executive Council of General Electric Inc. From 1995 until joining the NYSE, Georges Ugeux served as President of the European Investment Fund, a Euro 2 billion public- private partnership created by the Heads of State and Government of the European Union at the Edinburgh Summit. He also chaired the Kingdom of Belgium’s Privatization Commission, at the time of the Belgacom privatization. Georges Ugeux holds a Doctorate in Law and is Licentiate in Economics from the Catholic University of Louvain. He has lectured at that University, as well as at the College of Europe in Bruges. He also served as a Special Advisor of the Program on International Financial Systems of Harvard Law School. He was recently appointed Lecturer-in- Law at Columbia University School of Law where he teaches a seminar on European banking and Finance.
9:15 - 10:15am Money Manager Presentations 1) Speaker: Scott Black - Barron’s Roundtable member; Founder & President of Delphi Mgmt. Topic: Economic/Market Outlook for 2012 and beyond - Scott is a Chairman, President, and Chief Compliance Officer at Delphi Management, Inc. He has over 30 years of financial and general management experience beginning with corporate finance and international treasury positions at Xerox and Joseph E. Seagram. At Merrill Lynch, Mr. Black rose to head of Corporate Development, where he was responsible for holding Company’s diversification activities. He has guest lectured on investments and corporate finance at Harvard, MIT and Stanford. Mr. Black has been featured in Fortune, Business Week, Forbes and The Wall Street Journal. Additionally, he has appeared on CNN, CNBC and Wall Street Week, and has participated in Barron’s annual roundtable. Mr. Black serves on the advisory boards of the John F. Kennedy School of Government at Harvard, John Hopkins University, Northeastern University, the Museum of Fine Arts (Boston), and the Portland Museum of Art.
2) Speaker: Christopher M. Niemczewski - Managing Principal at Marshfield Associates Topic: Springtime for Banking - Chris Niemczewski founded Marshfield in 1989. While at Columbia, he was exposed to the Graham and Dodd School of security analysis and investing, an approach that has influenced his thirty four years in the investment field. In addition to formulating and guiding Marshfield’s core investment philosophy and discipline, he conducts research and focuses on long-term strategic firm planning. From 1981 to 1989 he was President of Justin Asset Management. Chris is a member of the Board of Managers of Swarthmore College where he serves as Chair of the Investment Committee. Chris has an MBA from the Columbia University Graduate School of Business in 1977 and prior to that he received a BA degree from Swarthmore College in 1974.
3) Speaker: Janelle Nelson - Vice President, PortfolioAnalyst, RBC Wealth Management U.S. Topic: Three Yards and a Cloud of Dust: The Advantages of a Low Risk, High-Yield Equity Approach - Janelle Nelson has been a Portfolio Analyst with RBC Wealth Management’s Portfolio Advisory Group since 1993. An industry professional since 1984, she has been with the firm since 1991 and was previously affiliated with several Wall Street firms, including Citigroup (Smith Barney) and Morgan Stanley. She has been broadly quoted on the markets in local and national media and is a popular speaker for individual investor events. Janelle is part of a team that actively manages two equity income strategies for the firm, Guided Portfolio: Prime Income and Guided Portfolio: Dividend Growth. Within the team, she takes a strategic focus on energy-related companies. Janelle holds a B.A. from the University of Minnesota in political science and economics.
10:15 - 10:30am Break
10:30 - 11:00am Private Equity 1) Speaker: Nathan Troutman, Investment Executive, Privatus Partners Topic: The Pros and Cons of Going Direct - Mr. Troutman has over 25 years of experience building investment management businesses and restructuring direct investments and portfolios. Over the past 15 years, he has managed and served as an advisor to some of the world's most prominent families on their direct investment activities, including the Garza Sada family (founders of FEMSA - Beer and FEMSA - Coke), Paul Allen (co-founder of Microsoft), Geoffrey Kent (founder of Abercrombie & Kent), Julian Robertson (founder and Chairman of Tiger Management), and the George DeMoulas family (founder of Market Basket Supermarkets). While working for Paul Allen from 1999-2005, Mr. Troutman led a complete reorganization of Mr. Allen’s multi-billion dollar portfolio of over 100+ direct investments. To facilitate that process, Mr. Troutman built an institutional-quality team of approximately 30 investment professionals and formed Vulcan Capital. Key companies restructured include Charter Communications, DreamWorks SKG, TechTV, The Sporting News, Digeo, Oxygen Media and RCN. Mr. Troutman has served in multiple capacities for the various companies he has restructured: Chairman, CEO, COO, CFO and board member. About Privatus Partners -- Privatus was created by a group of investment professional that has led, improved, and/or restructured the direct investment activities of some of the world’s largest private investors. Investors such as Paul Allen, Julian Robertson, Geoffrey Kent, Nicholas Berggruen and the Santo Domingo, Bahamdan and Vahabzadeh families. They have recreated the process they used for these families and opened it up for other private investors. Their previous efforts generated multiple billions of dollars in value. They only focus on off-market transactions and provide investors the flexibility and discretion to choose which investments to participate in, which allows investors to customize their own portfolio. It’s almost an anti-private equity fund approach as their terms are very different than traditional private equity funds that cater mainly to public pension funds. They look to capitalize on the flexibility that only private investors can bring to an investment.
11:00 - 11:30am 2) Speaker: Robert Collins - Managing Director, Investment Solutions, Partners Group(USA) Inc. Topic: Speaking about opportunities in the global private equity market and the semi-liquid private equity offering assuming it will be available shortly on the RBC platform. - Robert Collins is a Managing Director in the New York Office of Partners Group. Rob has held a variety of investing and client management roles at the firm and recently spearheaded the development of Partners Group Private Equity, LLC. Prior to joining the firm he was an investment banker at UBS Warburg focusing on private equity transactions within the healthcare industry. He began his career in equity research at Smith Barney and has 14 years of relevant industry experience. Rob has an MBA from Cornell University, where he was a Roy H. Park Leadership Fellow, and bachelor’s degree from Tulane University, where he majored in economics and history. He is a CFA charter holder and a member of the New York Society of Security Analysts. About Partners Group -- Partners Group is a global private markets investment management firm with EUR 25 billion in investment programs under management in private equity, private debt, private real estate and private infrastructure. The firm manages a broad range of funds and customized portfolios for an international clientele of institutional investors. Partners Group is headquartered in Zug, Switzerland and has offices in San Francisco, New York, São Paulo, London, Guernsey, Paris, Luxembourg, Munich, Dubai, Singapore, Beijing, Seoul, Tokyo and Sydney. The firm employs over 550 people and is listed on the SIX Swiss Exchange with a clear majority owned by its Partners and all employees.
11:30 - 12:00pm Strategic Philanthropy Speaker: Gary Castle - Partner, Anchin, Block & Anchin LLP Topic: Creating Impact: Applying Financial Concepts to Strategic Philanthropy - Gary is a principal and philanthropy expert, Gary serves on the Steering Committee of the Family Office / High Net Worth Services Group and its Business Management Practice. His clients include high net worth individuals, private foundations, artist-foundations and family offices. Gary provides specialized philanthropic advisory services to assist the implementation and legal structure of clients’ matching grant programs. With this service, Anchin works with both the client and the receiving organization and their representatives (attorneys, executive directors, auditors, and other management) in the development of contracts and the definitions of the terms of the grant to ensure that the matching requirements are met. The receiving organizations are some of the largest public charities in the country. Gary is a member of and a speaker at The Family Office Association, a global membership organization exclusive to single family offices and families of wealth, and has served as a keynote speaker at numerous family office conferences around the country. He is also a member of the New York Society of Certified Public Accountants (NYSSCPA), its Family Office Committee, the Institute of Chartered Accountants in England and Wales, the Council for Small Foundations, and Island Harvest (also serving on its board). In addition to English, Gary is conversant in French and Spanish.
12:00 - 12:30pm Estate Planning 1) Speaker: Dan Swick - Co-chair of Tax and Personal Planning Group, Herrick, Feinstein LLP Topic: $5,000,000 Federal and Gift Tax Exemptions - Daniel A. Swick of Herrick’s Tax and Personal Planning Group, and a member of the Firm’s Executive Committee. Dan’s thirty year career has been centered on the representation of high-net worth individuals, and business/real estate owners in all aspects of estate planning and administration. His practice focuses on the preparation of complex wills and trusts, succession planning, life insurance planning and wealth preservation. Dan received his J.D. from Rutgers Law School, with honors, in 1976 and a L.L.M in Taxation from New York University, School of Law in 1978.
2) Speaker: James Aronson - President, Insurance Design Corporation Topic: Leveraging Gifts under the 2010 Tax Act - Jim is a leading expert in the life insurance industry specializing in the analysis of existing and newly proposed insurance contracts primarily on the lives of high net worth individuals. His “work out” plans are highly noted to fix many of the known and unknown problems associated with insurance policies. As an independent Certified Financial Planner representing the client and not the insurance company, Jim is a valuable consultant to RBC Capital Markets financial analysts as well as several other nationally recognized investment firms, accounting and legal entities. His company, Insurance Designs Corporation, is based in Springfield, Massachusetts and he has an affiliated office in Montreal to provide insurance expertise to Canadian and international citizens with US interests. With 35 years of experience, Jim comes to us to share several examples of using life insurance leverage in today’s estate and gift tax environment so as to maximize the transfer of assets to the next generation.
3) Speaker: J. Barry Zischang - Vice President, Wealth Strategies Consultant, Estate and High Net Worth, RBC Wealth Management Topic: The role of Insurance in Estate Liquidity - Barry is based in Connecticut and serves as a resource for Financial Advisors for understanding client’s financial objectives, gathering information and determining strategies for complex financial and wealth strategies issues for high net worth clients in the firm’s East region. As part of his responsibilities, Barry works with RBC Wealth Management Financial Advisors to develop appropriate wealth management solutions for clients, with a special focus on estate planning. Barry has significant experience in developing sophisticated estate planning strategies, using a range of techniques such as family trusts, charitable trusts, family partnerships and buy/sell agreements for the owners of closely held businesses. In addition to his duties at RBC Wealth Management, Barry does extensive public speaking on wealth management and estate planning topics. He has had numerous articles published in professional journals, including National Underwriter and Journal of Construction Accounting and Taxation. He is also the co- author of a book, “The Common Sense Guide to Estate Planning.” Barry has over thirty years of experience in the financial services industry. Barry received his B.A. degree from Lehman College at the City University of New York. He holds several designations: Chartered Life Underwriter (CLU); Chartered Financial Consultant (ChFC); CERTIFIED FINANCIAL PLANNER; and Certified Investment Management Analyst (CIMA). He also holds Series 7,9,10,24,63 and 65 securities licenses.
12:30 - 1:15pm Metals Presentations 1) Speaker: Amir Adnani - Chief Executive Officer, President, Director of Uranium Energy (one of 8 Uranium producers in the world) Topic: Amir will address a number of key subjects that will drive both the nuclear energy sector and Uranium Energy Corp forward. - Mr. Adnani is a founder of Uranium Energy Corp and has been the President, Chief Executive Officer, and a director of the Company since January 2005. He was voted just in the top 3 (CEOs under 40 in the mining sector). Mr. Adnani is an entrepreneur with a background in business development and marketing. In 2004, he founded Blender Media Inc. where he served as the President and a director until 2006. Blender Media is a Vancouver based company that provides strategic marketing and financial communications services to public companies and investors in mineral exploration, mining, and energy sectors. In 2005, Blender Media was named one of the fastest growing companies in Canada by Profit magazine. In 2001, Mr. Adnani co- founded and until 2004 was a director and officer of Fort Sun Investments Inc., a leading strategic marketing firm providing services to small and mid-cap public companies. Mr. Adnani holds a Bachelor of Science degree from the University of British Columbia.
2) Speaker: Bradford Cooke - Chairman and CEO of Endeavour Silver Topic: Silver - M & A and consolidation opportunities in the silver sector and also touch on physical supply and demand. - Bradford Cooke, M.Sc., P.Geo., is a professional geologist with over 35 years of experience in the mining industry, specializing in the financing, acquisition, exploration, development and exploitation of precious metal properties. Mr. Cooke has participated in the discovery of several mineral deposits, including uranium in Labrador, gold and tungsten in B.C., gold in Suriname and silver in Mexico. He graduated with a B.Sc. Geology (Honors) degree from Queens University in 1976 and M.Sc. Geology degree from the University of British Columbia in 1984. From 1976 to 1987, he worked as a project geologist for Noranda Mines, Shell Minerals and Chevron Minerals and as a geological consultant. In 1988, he launched Canarc Resource Corp. to focus on gold exploration in the Americas. In 2003, Bradford formed Endeavour Silver Corp. with the express purpose of acquiring advanced high-grade silver mining projects in Mexico. Today, Endeavour is one of the fastest growing primary producers of silver worldwide. About Endeavour Silver Corp. -- Endeavour Silver is a mid-cap silver mining company focused on the growth of its silver production, reserves and resources in Mexico. Since start-up in 2004, Endeavour has posted seven consecutive years of growing silver production, reserves and resources. The organic expansion programs now underway at Endeavour's two operating silver mines in Mexico combined with its strategic acquisition and exploration programs should facilitate Endeavour's goal to become the next premier mid-tier silver mining company.
1:15pm Lunch
1:15 – 1:45pm Lunch Presentation Speaker: Darren Bagert - Two-time TONY Award-winning Broadway producer Topic: The Business of Broadway - Behind the curtain - Darren Bagert is a two-time Tony Award® winning producer. Darren is currently one of the lead producers of Gore Vidal’s The Best Man starring James Earl Jones, Angela Lansbury, Candace Bergen, John Larroquette, Eric McCormack, and Michael McKean, which just opened on Broadway. He recently produced and directed An Evening with Ralph Lauren, hosted by Oprah Winfrey. This five-month collaboration was the most financially successful evening in the history of Lincoln Center. Darren is currently developing numerous projects including a Broadway revival of the Pulitzer Prize winning play, Picnic by William Inge, to be directed by Sam Gold in conjunction with Roundabout Theater; a stage adaptation of the novel and Oscar-winning film Kiss of the Spider Woman, which has been written for the stage by Oscar nominee Jose Rivera, to be directed by Peter DuBois; and iconic play Sabrina by Samuel Taylor. Some of his producing highlights include the Tony Award® winning musical Company by Stephen Sondheim and George Furth, directed by John Doyle, and was Executive Producer on the PBS/Great Performances production for television. He produced the highly-acclaimed Tony Award® nominated production of Sweeney Todd by Stephen Sondheim and Hugh Wheeler, starring Patti LuPone and Michael Cerveris, directed by John Doyle. His producing work on Eugene O'Neill's Long Day's Journey Into Night starring Vanessa Redgrave, Brian Dennehy, Philip Seymour Hoffman and Robert Sean Leonard, directed by Robert Falls won him his first Tony Award® for Best Revival of a Play. Darren is proud to have been part of the producing team to bring Frozen by Bryony Lavery (nominated Tony Award® for Best Play) starring Swoosie Kurtz, Brian O’Byrne and Laila Robins, directed by Doug Hughes. He is proud to call New York, Southampton and New Orleans his home.
Followed by: Cocktail Party at the Lincoln Center
Please join us for cocktails and hors d’oeuvres
Lincoln Center – Alice Tully Hall Hauser Patron Salon 1941 Broadway on 65th street/Broadway
Seven o’clock PM to Nine o’clock PM
Kindly respond to Kavita Sajja by June 5th
Co-Sponsored by:
Anchin, Herrick, Marshfield Associates, Mont Blanc, Uranium Energy Corp, and Insurance Designs Corporation, LLC.
Securities offered through RBC Wealth Management. RBC Wealth Management is not affiliated with Anchin, Herrick, Marshfield Associates, Mont Blanc, Uranium Energy Corp, and Insurance Designs Corporation, LLC.
RBC Wealth Management, a division of RBC Capital Markets LLC, Member NYSE/FINRA/SIPC.