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Mergers and Acquisitions of Financial Institutions

Speaker Biographies

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Friday, November 30, 2007
7:30am – 8:00am -- Registration & Continental Breakfast --

8:00am

Conference Welcome
Robert DeYoung,
Capitol Federal Chair in Financial Institutions and Markets, University of Kansas and FDIC's Center for Financial Research

8:15am - 10:30am

Bank Mergers: Strategies and Tactics

Moderator: Philip Molyneux, Head of Bangor Business School and Professor of Banking & Finance, Bangor University

Ethan Cohen-Cole and Nick Kraninger, Federal Reserve Bank of Boston, Multiple Bank Mergers and Rational Foresight
Presentation
Discussant: Simon Kwan, Federal Reserve Bank of San Francisco
Presentation (PPT Help)

Kristina Minnick, Bentley College, Haluk Unal, University of Maryland, and Liu Yang, UCLA, Pay for performance? CEO compensation and Acquirer Returns in BHCs
Presentation (PPT Help)
Discussant: Santiago Carbo-Valverde, University of Granada
Presentation 336Kb (PPT Help)

Rachel Campbell, Maastricht University, and Roman Kräussl, University of Amsterdam, Does Patience Pay? Empirical Testing of the Option to Delay Accepting a Tender Offer in the U.S. Banking Sector
Presentation (PPT Help)
Discussant: Larry Wall, Federal Reserve Bank of Atlanta
Presentation (PPT Help)

10:30am - 11:00am

-- Break --

11:00am - 12:30pm

Theme Panel

Moderator: Douglas Evanoff, Senior Financial Economist and Vice President, Federal Reserve Bank of Chicago

Brian R. Sterling,
Principal and Head of Investment Banking, Sandler O'Neill + Partners, L.P.
Presentation 468Kb (PPT Help)
Fabio Panetta, Head of Economic Outlook and Monetary Policy, Banca d'Italia
Presentation (PPT Help)
Robin Prager, Assistant Director, Research and Statistics, Board of Governors of the Federal Reserve System
Presentation (PPT Help)
Bent Vale, Head of Research, Norges Bank.
Presentation (PPT Help)
James Overdahl, Chief Economist, U.S. Securities and Exchange Commission

12:30pm - 2:00pm

-- Lunch --


Moderator: Haluk Unal, Professor of Finance, University of Maryland and Managing Editor, Journal of Financial Services Research
Speaker: Edward Kane, James F. Cleary Professor of Finance, Boston College
Presentation 1MB (PPT Help)

2:00pm - 3:30pm

Bank Mergers and Lending to Small Businesses

Moderator: Robert DeYoung, University of Kansas

Yoshiaki Ogura,
Hitotsubashi University, and Hirofumi Uchida, Wakayama University, Bank Consolidation and Soft Information Acquisition in Small Business Lending
Presentation 2MB (PPT Help)
Discussant: Ken Cyree, University of Mississippi
Presentation (PPT Help)

Steve Mercieca, University of Southampton, Klaus Schaeck, Cass Business School, and Simon Wolfe, University of Southampton, Bank Market Structure, Competition, and SME Financing Relationships in European Regions
Presentation (PPT Help)
Discussant: Allen Berger, Board of Governors of the Federal Reserve System
Presentation 331Kb (PPT Help)

3:30pm - 4:00pm

-- Break --

4:00pm - 5:30pm

Post-Merger Financial Institution Performance

Moderator: Philip Molyneux, Bangor University

Serena Ng,
Columbia University and Matthew Shum, Johns Hopkins University, Detecting Information Pooling: Evidence from Earnings Forecasts after Brokerage Mergers
Presentation
Discussant: David Becher, Drexel University
Presentation (PPT Help)

Elena Beccalli and Pascal Frantz, London School of Economics, M&A Operations and Performance in Banking
Presentation 477Kb (PPT Help)
Discussant: Emilia Bonaccorsi di Patti, Banca d'Italia
Presentation (PPT Help)

5:30pm - 6:30pm

Reception

6:30pm - 8:00pm

Dinner

Moderator: Arthur Murton, Director of Insurance and Research, Federal Deposit Insurance Corporation
Speaker: Lawrence White, Arthur E. Imperatore Professor of Economics, New York University
Presentation (PPT Help)

Saturday, December 1, 2007

8:00am

-- Continental Breakfast --

8:30am – 10:00am

Cross-Border Bank Mergers
Moderator: Douglas Evanoff, Federal Reserve Bank of Chicago

Ricardo Correa, Board of Governors of the Federal Reserve System, Cross-border Bank Acquisitions: Is there a Performance Effect?
Presentation 570Kb (PPT Help)
Discussant: Elijah Brewer, DePaul University
Presentation (PPT Help)

Alicia Garcia-Herrero, BBVA and Hong Kong University, and Francisco Vazquez, International Monetary Fund, "International Diversification Gains and Home Bias in Banking"
Presentation (PPT Help)
Discussant: Ken Jones, Federal Deposit Insurance Corporation
Presentation (PPT Help)

10:00am - 10:30am

-- Break --

10:30am - 12:00pm

Causes and Effects of Financial Institution Mergers

Moderator: Robert DeYoung, University of Kansas

John Goddard, Bangor University, Donal McKillop, Queen's University of Belfast, and John Wilson, University of St Andrews, Consolidation in the U.S. Credit Union Sector: Determinants of Failure and Acquisition
Presentation (PPT Help)
Discussant: Robert Adams, Board of Governors of the Federal Reserve System
Presentation (PPT Help)

Ben Craig, Federal Reserve Bank of Cleveland, and Valeriya Dinger, University of Bonn, Bank Mergers and the Dynamics of Deposit Interest Rates
Presentation (PPT Help)
Discussant: Robert Bliss, Wake Forest University
Presentation (PPT Help)

12:00pm

Summary and Closing Comments


Philip Molyneux, Head of Bangor Business School and Professor of Banking & Finance, Bangor University

12:15pm

-- Informal Lunch --




Last Updated 12/20/2007 cfr@fdic.gov