LIBOR Transition Series: the Final Countdown
The Bloomberg Indices team will first provide an update on the latest development with regard to BSBY, before being joined by a panel of experts who will discuss ways to navigate the reality of a multi-rate environment. Additionally, our panel will explore remaining transition challenges and best practices to help you meet the deadline.
Discussion topics:
- Transition progress on RFRs
- Loan Markets, Fallbacks & Documentation
- Choices in the a Multi-Rate environment
- Pricing impacts on various products and markets
Speakers
DAVID MULLEN
Senior Index Business Manager
BLOOMBERG/ 731 LEX
David Mullen is a senior business manager in Bloomberg Index Services Limited. In this role he is responsible for developing the firm’s tools for analyzing Index-Linked products, macro trading strategies and developing the Bloomberg index ecosystem. Mr. Mullen has been with the firm for over 20 years and prior to his current role, he was responsible for developing BSKT – the ETF market’s first electronic Creation/Redemption platform. In addition he has developed FI ETF analytics on the Bloomberg system as well as other credit market tools for relative value analysis, price discovery and key fixed income functionality. Prior to that role he was responsible for developing Bloomberg’s Fixed Income Electronic Trading platform (FIT). He has also functioned as a fixed income Application Specialist and spoken at many industry conferences on how to find value in the fixed income markets. Before joining Bloomberg, he spent several years as a fixed income trader and salesperson at several Wall Street firms including Deutsche Bank, Donaldson Lufkin and Jenrette and Prudential Securities.
Edward Ivey
Lawyer
Moore & Van Allen PLLC
Following his work at a Magic Circle law firm and time at multiple Wall Street banks, Ed Ivey’s practice focuses on transactional and regulatory issues associated with derivatives, complex finance, structured products and LIBOR transition issues. He has advised a number of clients on developing hedging strategies for their commercial risks by using derivative and exchange traded transactions such as FX swaps, interest rate swaps, forwards, futures and physical commodity transactions. He has also helped regional and community banks develop and implement their internal swap programs for borrowers, as well as advising larger registered swap dealers on their day-to-day swap negotiations and regulatory needs.
James Lovely
Consultant
FPExpert.com
James Lovely is a consultant providing advisory services to regional and community banks, family offices and funds, select law firms, and corporations with respect to derivatives, capital markets and related CFTC and SEC compliance issues. He also delivers contract management services primarily related to ISDA, NAESB, and SIFMA documentation. Since 2014, he has assisted clients with LIBOR licensing and LIBOR transition issues. He is a frequent commentator on LIBOR transition issues via LinkedIn. His consultancy was founded in 2011. Mr. Lovely's previous professional experience includes senior executive and legal positions at a CPO/commodity hedge fund, with two national law firms, with a global bank, and with a global investment bank and its swap dealer affiliate. Mr. Lovely has a B.B.A. in Finance from the University of Miami, an M.B.A. from the University of Pittsburgh, and a J.D. from the University of Virginia School of Law. He remains admitted as an attorney in New York, North Carolina and Florida.
Umesh Gajria
Head of Index-Linked Products
Bloomberg
Umesh Gajria is Global Head of Index-Linked Products at Bloomberg, overseeing index derivative products and analytics. In addition, he leads the firm’s efforts in the transition to Risk Free Rates (RFRs) including ISDA fallbacks. Earlier he served as COO for Bloomberg’s Enterprise Product business, after joining the firm in 2017. Previously, Mr. Gajria was an Executive Director of Global Business Development at CME Group where he led growth initiatives for the Financial Products business. Before that he worked in various roles at US Bank, JP Morgan and Lexis Nexis. Mr. Gajria holds a B.S. in industrial engineering from the University of Wisconsin-Madison.
Tess Virmani
Associate General Counsel and Executive Vice President, Public Policy
LSTA
Tess Virmani is Associate General Counsel and Executive Vice President, Public Policy of the Loan Syndications and Trading Association (LSTA). Tess has a broad range of responsibilities at the LSTA. She leads the LSTA’s sustainable finance and ESG initiatives which seek to foster the development of sustainable lending as well as promote greater ESG disclosure in the loan markets. In addition, Tess engages in the LSTA’s policy initiatives, including market advocacy and spearheading industry solutions to market developments, such as the transition to replacement benchmarks. Tess focuses on maintaining and augmenting the LSTA’s extensive suite of documentation, which includes templates, market standards, and market and regulatory guidance. Finally, she is involved in the development and presentation of the LSTA’s robust education programs. Prior to joining the LSTA, Tess practiced as a finance attorney at Skadden, Arps, Slate, Meagher & Flom LLP in New York. She received a B.S. in International Politics from the Walsh School of Foreign Service at Georgetown University and a J.D. from Fordham University School of Law. She is admitted as an attorney in New York. Tess is a Fundamentals of Sustainability Accounting Credential Holder.