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Session Description:
A
majority of companies in Asia, Europe
and the United States are paying higher
prices for bank credit lines and
long-term debt issues and are being
forced to accept tighter terms and
covenant restrictions on loans as a
result of the still unfolding crisis in
global credit markets, according to a
recent study by Greenwich Associates. In
addition, a number of major firms have
taken substantial hits to their
reputations, but some banks less
impacted by credit concerns see
opportunity.
Since the outbreak of the credit crisis
in August 2007, one of the most pressing
questions facing the world economy has
been whether the staggering losses
experienced by global banks would
eventually begin to affect the amount of
capital available to the companies that
drive economic growth. To assess the
current impact of the crisis on
companies’ ability to access credit,
Greenwich Associates in February
surveyed nearly 300 large companies in
Asia, Europe and the United States.
Companies were asked about their views
on the overall direction of the economy
and how the credit crisis has affected
their funding needs, pricing and
availability.
Companies reported that they are trying
to avoid the need to raise new funding
by taking a more active approach to
managing cash flows. At the same time,
they are trying to lock in and extend
existing bank credit facilities while
becoming more strategic in the
management of their commercial paper
programs. In addition, some companies
are looking to diversify their credit
sources with alternatives such as
receivables securitization,
sale-leasebacks or other options.
This session is appropriate for senior
financial services executives with
responsibility for Corporate Banking,
Business Banking, Corporate Credit,
Market Research and Strategy teams.
OnsiteConference is co-hosting this
event with our sister company CallTopic.
About Christopher B. McDonnell:
Chris McDonnell is Vice President of
Greenwich Associates and consults with
banking clients in the United States.
Chris joined the firm in 1997 as a
Research Associate responsible for
assisting in the collection and analysis
of the research used by the firm's
corporate banking clients.
Prior to re-joining the firm in 2005,
Chris was a founding member of a
Manhattan-based digital communications
company, Eureka Networks. He graduated
from Notre Dame with a BA degree in
English and History and received his MBA
from Kellogg.
About Greenwich Associates:
Greenwich Associates' principal business
objective is to provide decision-makers
in financial services with expert advice
for their most critical strategic issues
based upon a unique combination of
comprehensive market research and
in-depth analysis.
Charley Ellis founded Greenwich
Associates in 1972 with the vision of a
superior professional firm in
institutional financial services,
servicing the needs of senior financial
professionals with timely, unbiased,
actionable management information.
The service concept - custom consulting
based on high quality proprietary
research with ongoing relationships at a
senior level developed by experienced
experts - proved a sustainable business
model.
The firm's initial offering in personal
trust services, large corporate
pensions, and large corporate banking in
the United States expanded to encompass
the spectrum of institutional financial
services - including stockbrokerage,
fixed income, foreign exchange,
derivatives, and investment banking - in
all of the major global financial
centers. The firm now interviews senior
corporate and institutional executives
in more than 70 countries around the
globe to gather the pertinent market
research.
In response to the changing market
environment, the range of our products
and services has widened to include
global programs, custom research, online
tools and services, as well as
specialized analytical services.
What began as a single office in
Greenwich, Connecticut for 10 employees,
now comprises over 170 professionals in
four locations on three continents. Our
client-base has expanded from 28 North
American-based clients in our first year
of business to over 250 global
relationships today.
In 2000, Woody Canaday succeeded Charley
Ellis as the Senior Managing Director,
marking a new tenure of leadership for
the firm in the twenty-first century.
www.greenwich.com
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