CFA Institute Conference: Fixed-Income Management 2017 | CFA Institute | 12 October 2017 | United States , Westin Copley Place Boston, Massachusetts, United States

After years of ZIRP (zero interest rate policy), what will be the pace and path to interest rate normalization? Is the neutral rate likely to be lower in the future given secular headwinds from such issues as aging populations in major economies, globalization, technology disrupters, and the debt supercycle?

How will the blending of politics and policies in the United States alter the economic and financial market landscape? Do investment managers need to be more flexible and opportunistic to succeed in the new environment?

With myriad fundamental questions lingering in today’s global debt markets comes an increased need for savvy bond investors who have the skills and insights to find opportunity through differentiation and deliver value to investors.

At Fixed-Income Management 2017, leading practitioners will navigate what is happening in global bond markets, take a closer look at the path of growth in developed and emerging economies, and discover where leading investors are finding opportunities, value, and protection against uncertainty.

Oksana Aronov
- is managing director and head of market strategy for absolute return fixed income, a global alternative fixed-income platform at JPMorgan Asset Management, where she is responsible for investment strategy, research, and business development. Previously, she established and led fixed-income due diligence and manager research at JPMorgan Private Bank and was a risk manager at Goldman Sachs Asset Management across traditional and alternative fixed-income and equity strategies. Ms. Aronov also worked in bond accounting at BlackRock and in performance attribution at JP Morgan Investment Management. She is a frequent contributor to such financial media outlets as Barron’s, Financial Times, Institutional Investor, Bloomberg, and CNBC, among others. Ms. Aronov holds a BS in finance and information systems from the New York University Stern School of Business and an MBA in finance and marketing from Fordham University.

Jamil Baz
- is a managing director and global head of client analytics at PIMCO, where he previously served as portfolio manager on the global team. Prior to joining PIMCO, he was a senior managing director and chief investment strategist at the Man Group. Dr. Baz has also served as a managing director in macro proprietary trading at Goldman Sachs in London and as a global chief investment strategist at Deutsche Bank. Earlier in his career, he co-ran European fixed-income research at Lehman Brothers and worked in derivatives and liability management at the World Bank. Dr. Baz holds a master's degree from the London School of Economics, an SM degree from the MIT Sloan School of Management, and a PhD from Harvard University.

Peter B. Coffin
- is founder, portfolio manager, and president at Breckinridge Capital Advisors, Inc. Previously, he was a senior vice president with Massachusetts Financial Services and a member of the firm's fixed-income policy committee. Mr. Coffin has been a member of the National Federation of Municipal Analysts and the Boston Municipal Analysts Forum, and he served on the Municipal Securities Rule Making Board (MSRB) and the board of the Forum for Sustainable and Responsible Investment (US SIF). His comments on the developments in the municipal market have been reported in such publications as the Wall Street Journal, Forbes, and Businessweek. Mr. Coffin received an FSA Credential from the Sustainability Accounting Standards Board. He holds a BA degree in classical studies from Hamilton College.

Elisabeth Colleran, CFA
- is a vice president at Loomis, Sayles & Company and coportfolio manager on emerging markets debt portfolios. Previously at Loomis, Sayles & Company, she served as a senior credit analyst, following telecom on a global basis, with a specialized focus on emerging market corporates in Asia. Ms. Colleran started her career at DRI/McGraw Hill (now Global Insight), where she applied analytical tools to a wide set of customer issues including competitor analysis, demand forecasting, pricing strategy, and asset valuation. She has also worked for Sun Capital Partners and Back Bay Advisors. Ms. Colleran holds a BA from the University of Rochester and an MBA from the University of New Hampshire.

Daniel J. Fuss, CFA
- is vice chairman of Loomis, Sayles & Company, L.P., and manager of the firm’s flagship Loomis Sayles Bond Fund. He has more than five decades of experience in the investment industry and has been with Loomis, Sayles & Company since 1976. In 2000, Mr. Fuss was named to the Fixed Income Analysts Society’s Hall of Fame in recognition of his contributions and lifetime achievements in the advancement of the analysis of fixed-income securities and portfolios. He is past president of the Boston Security Analysts Society. Mr. Fuss holds a bachelor’s degree and an MBA degree from Marquette University.

James Grant
- is the founder and editor of Grant’s Interest Rate Observer and a financial journalist and historian. Previously, he worked at the Baltimore Sun and at Barron’s, where he originated the Current Yield column. Mr. Grant is the author of several books on finance and financial history, including his most recent book, The Forgotten Depression, 1921: The Crash That Cured Itself, which won a Hayek Prize from the Manhattan Institute for Policy Research. He has also published two political biographies. Mr. Grant has appeared on a number of television programs, including 60 Minutes, The Charlie Rose Show, and CBS Evening News, and had a 10-year stint on Wall Street Week. Mr. Grant has been published in a variety of periodicals, including the Financial Times, the Wall Street Journal, and Foreign Affairs. He is a former US Navy gunner’s mate and a trustee of the New York Historical Society. Mr. Grant graduated from Indiana University and holds a master’s degree in international relations from Columbia University.

Alyssa D. Greenspan, CFA
- is president and chief operating officer at Community Capital, where she is responsible for creating long- and short-term strategies surrounding the sales and marketing of products, working with the CEO on the development of current and new offerings, and managing the day-to-day activities and operations of the firm. Previously, she served as a senior equity analyst at Morningstar, Inc., and as an investment officer at Northern Trust Bank. Ms. Greenspan serves on the board of directors of the US SIF: The Forum for Sustainable and Responsible Investment and is a member of the Women Presidents’ Organization. She has also volunteered for United Way of Broward County’s ReadingPals program and is a mentor for Take Stock in Children. In addition to holding FINRA licenses Series 6, 7, 24, 26, and 63, Ms. Greenspan holds a BSM in finance from Tulane University and an MBA from the University of Miami.

Robert S. Kaplan
- is president and CEO of the Federal Reserve Bank of Dallas. He represents the Eleventh Federal Reserve District on the Federal Open Market Committee in the formulation of US monetary policy and oversees the employees of the Dallas Fed. Previously, Mr. Kaplan served as Martin Marshall Professor of Management Practice and as a senior associate dean at Harvard Business School. Before joining Harvard, he served in various roles at the Goldman Sachs Group, Inc., including partner, senior director, vice chairman, global cohead of the investment banking division, head of the corporate finance department, head of Asia-Pacific investment banking, and head of the high-yield department in investment banking. Mr. Kaplan is the author of several books, including What You Really Need to Lead: The Power of Thinking and Acting Like an Owner; What You're Really Meant To Do: A Road Map for Reaching Your Unique Potential; and What to Ask the Person in the Mirror: Critical Questions for Becoming a More Effective Leader and Reaching Your Potential. He serves as chairman of Project ALS and cochairman of the Draper Richards Kaplan Foundation, a global venture philanthropy firm that invests in developing nonprofit enterprises dedicated to addressing social issues. Mr. Kaplan is also a board member of Harvard Medical School and was appointed by the governor of Kansas as a member of the Kansas Health Policy Authority Board. He holds a BS in business administration from the University of Kansas and an MBA from Harvard Business School.

Erika Karp
- is the founder and CEO of Cornerstone Capital Inc., a firm that works with investors, corporations, and financial institutions to drive the systematic analysis of environmental, social, and governance (ESG) factors throughout the global capital markets. Prior to founding Cornerstone, she was managing director and head of global sector research at UBS Investment Bank, where she chaired the UBS Global Investment Review Committee and managed a global team of analysts and strategists. Ms. Karp is an adviser to the UN Global Compact’s LEAD Board Development Program, a founding board member of the Sustainability Accounting Standards Board, and a member of the World Economic Forum’s Global Agenda Council on Financing and Capital. She has been named among the nation's Top 50 Women in Wealth by AdvisorOne, as one of the GOOD 100, as one of the Purpose Economy 100, and as one of 50 Conscious Capitalists Who Are Transforming Wall Street. In 2016, Ms. Karp was awarded the StartOut leadership award for her support of LGBTQ entrepreneurs.

Warren Mar
- is a portfolio manager and head of emerging markets corporate debt strategy on the Emerging Markets Debt team at Morgan Stanley. Previously, he served as the global head of emerging markets corporate research and strategy at JPMorgan Chase, where he was part of the leadership team that created the J.P. Morgan Corporate Emerging Markets Bond Index (CEMBI) Broad Diversified. Mr. Mar has also worked at Investment New Zealand, BNP Paribas, and Riyad Bank. He received a bachelor of commerce degree from the University of Auckland.

Ford O’Neil
- is a portfolio manager in the Fixed Income Division at Fidelity Management & Research Company (FMR Co.), the investment adviser for Fidelity’s family of mutual funds. He manages various retail and institutional taxable bond funds. Previously, Mr. O’Neil was an analyst in Fidelity’s Asset Management Division, where he was responsible for the electric utility sector. Before joining Fidelity, he was an associate in the Investment Banking Department at Advest, Inc., where he advised corporations on capital raising. Mr. O’Neil and his team received Morningstar’s 2016 US Fixed-Income Manager of the Year Award for the Fidelity Total Bond Fund. He earned his bachelor of arts degree in government from Harvard College and his master of business administration degree from the Wharton School at the University of Pennsylvania.

Roberto Rigobon
- is Society of Sloan Fellows Professor of Applied Economics at the Sloan School of Management at Massachusetts Institute of Technology (MIT). He is also a research associate of the National Bureau of Economic Research, a member of the Shadow Committee for Financial Regulation in Latin America, and a visiting professor at IESA. Professor Rigobon’s research has examined international economics, monetary economics, and development economics, focusing on the causes of balance-of-payments crises, financial crises, and their propagation across countries. He holds a BS degree in electrical engineering from Universidad Simon Bolivar, an MBA degree from IESA Venezuela, and a PhD degree in economics from MIT.

David I. Robbins
- is a portfolio manager and group managing director, emerging markets for TCW Emerging Markets. Prior to joining TCW, he was responsible for global emerging markets trading in the Fixed Income division of Lehman Brothers. Prior to that, Mr. Robbins served as head of Emerging Markets Trading at Morgan Stanley. He received a BA in economics and history from Swarthmore College.

Jeffrey Rosenberg, CFA
- is managing director, chief fixed-income strategist, and member of the Investment Institute at BlackRock. His responsibilities include working closely with the global chief investment officer of fixed income and the global fixed-income portfolio teams to develop BlackRock's strategic and tactical views on sector allocation within fixed income, currencies, and commodities. Mr. Rosenberg is also the portfolio manager for the fixed-income tactical allocation–managed model portfolio, an actively managed portfolio of exchange traded funds. He publishes his monthly "Fixed-Income Strategy" newsletter, regularly posts on the BlackRock Blog, contributes to BlackRock Investment Institute publications, and makes numerous media appearances. Prior to joining BlackRock, Mr. Rosenberg was chief credit strategist at Bank of America Merrill Lynch. He holds a BA in mathematics from the University of Minnesota, a BA in finance from the University of Wisconsin, and an MS in computational finance from Carnegie Mellon University.

Marc P. Seidner, CFA
- is chief investment officer of nontraditional strategies and managing director and head of New York portfolio management at PIMCO, where he is also a generalist portfolio manager and a member of the investment committee. Previously, he served as head of fixed income at GMO LLC. Mr. Seidner was also a managing director and domestic fixed-income portfolio manager at Harvard Management Company. He also served as director of active core strategies at Standish Mellon Asset Management and as a senior portfolio manager at Fidelity Management and Research. Mr. Seidner holds an undergraduate degree in economics from Boston College.

Cheryl Smith, CFA
- is a managing partner, economist, and investment manager. She leads the fixed-income management process at Trillium Asset Management and is comanager of the Green Century Balanced Fund, for which Trillium is the subadviser. Dr. Smith began her investment management career at Trillium and subsequently joined Boston Trust and Investment Management Company (now known as Walden Asset Management), where she served as vice president and portfolio manager, before rejoining Trillium. She is currently a board member of Oikocredit USA and is a former board member of Cornerstone Capital Group. Dr. Smith is a past chair of US SIF and a recent member of its Policy Committee. She has also served on the board of Episcopal Divinity School and is a member of the American Economic Association. Dr. Smith holds a BSFS degree from Georgetown University School of Foreign Service and earned MA, MPhil, and PhD degrees in economics from Yale University.

Christine Todd, CFA
- is president of Standish Mellon Asset Management Company, LLC, and head of the Tax-Sensitive and Insurance Strategies. She manages tax-sensitive fixed-income portfolios for larger institutional, insurance, and high-net-worth clients. Previously, Ms. Todd served as vice president of Gannett, Welsh & Kotler, where she was responsible for municipal bond research and trading. She is a trustee for the Dedham Institution for Savings and a rotating member of its Board of Investment, as well as a member of Lahey Health System’s Investment Committee. Ms. Todd is a director of CFA Society Boston and is a trustee of the Fessenden School. She is a mentor at Year Up, an organization that seeks to close the opportunity divide for urban youth. Ms. Todd is a member of the Investment Company Institute’s Municipal Securities Advisory Committee and the National Federation of Municipal Analysts. She has a BA from Georgetown University and an MBA from Boston University.

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