Drivers of progress, andproduct innovation showcaseRoyal Hospital, Kilmainham, Dublin16th October 2007

ThePan European Pensionsand Asset PoolingSummit 2007

www.financedublin.com/conference

Gold Sponsors: LunchSponsor:

pensions draft2 20/08/2007 11:56 Page 3

The best cross border pension fundstrategies for European pension fundsThe need for asset pooling to be examined in a Pan EuropeanPensions context has prompted this conference, which will bringtogether the leading experts in a one day summit, co-sponsoredby the European Federation for Retirement Provision. Thebenefits of asset pooling, risk pooling, LDI driven structuring andother strategies have been demonstrated as a major contributorto achieving higher risk-free annual returns for Europeanpension funds.

One size does not fit all however, and accordingly the Summithas as its overall aim the delivery of a comprehensive frameworkfor assessing the best cross border pension fund strategies forEuropean pension funds.

It aims too, to deliver a series of practical insights, and, as theconference programme shows, delegates will obtain a series ofpractical insights into the leading edge issues from a corporatepension scheme, and plan sponsor’s perspective.

Other key features of the conference will be:- A Product Innovation Showcase, in which a series of solutions

will be illustrated - for example, Mercer’s Master Trust approach,Citi’s ‘Virtual Pooling’ product, Northern Trust’s EPP, Vanguard’sCCF structure, and Legal & General International’s proposedopen architecture life approach.

- Cutting edge discussion of the taxation and regulatory issues,featuring EU leading players, including Peter Schonewille, EUTaxation & Customs Union, Tony Hobman, CEIOPS spokesman,and CEO of the UK Pensions Regulator,and Erich Eggenhoffer of the insurance & Pensions Unit of theEuropean Commission

- A comprehensive product discussion of the asset poolingagenda, featuring the various national products, including theCCF, the FCP, FGR,PFPV, as well as structures designed toincorporate any or some of them

- A series of state of the art presentations on best corporategovernance issues for pension fundsIt will be addressed by the Secretary General of the Irish

Government, Dermot McCarthy, and chaired by Jaap Maassen, thechairman of EFRP, and Director of Pensions and member of theBoard of one of the world’s largest pension funds ABP (featured asthe cover story in the July-August issue of Institutional Investor as‘the pension fund activist to be reckoned with on both sides of theAtlantic’) and Pat Wall, chairman of the Pan European PensionsTask Force of the Irish Government with over 30 otherdistinguished speakers and panelists.

The Pan European Pensions Summit 2007, is being held on theinitiative of the Pensions Task Force of the Clearing House Groupof the Office of the Irish Prime Minister, and is organised andproduced by Fintel Publications Ltd. It is co-sponsored by theEuropean Federation for Retirement Provision, and the othersponsors whose names are listed in the programme.

07.30 Registration and BreakfastReception

08.30 Introduction, by chairman

Jaap Maassen, Chairman,European Federation forRetirement Provision, Director,Executive Board ABP

Pan European Pension funds -Fiction or reality?• Situation to date;

Asset pooling; Liability pooling;Legal constraints; Taxation;The way forward

8.55 What factors multinationalplan sponsors should consider inlooking at the overall efficiency oftheir pension scheme

Gavin Bullock, Partner, Deloitte

• The main drivers(external factors): typical issuesthat pension schemes areconcerned about:

• Accounting; Regulatory;Taxation; Operational

• What are the questionsthat pension schemes shouldbe asking?

• How to make sure your riskmodel is appropriate to yourbusiness objectives?

9.10 Pan-EU strategies in thesecond half of 2007

Tim Burggraaf, European Partner,Mercer, Human ResourceConsulting, Rotterdam

• Asset pooling: a clear DB solution

• Risk pooling: a global generalsolution

• Master Trusts, the true Pan-EUDC solution

• Using structures and servicecenters

9.30 Taxation and Pan-EuropeanPension Funds

Peter Schonewille,Taxation and Customs Union,European Commission

• Discrimination regarding taxrelief for contributions paid toforeign pension funds eliminated

• Commission is actively tacklingdiscriminatory taxation ofinvestment results of foreignpension funds

• The last hurdle: Tax obstacles tothe cross-border transfer ofpension capital

9.50 Liability driven investments- are they feasible in a pan-European pension fund context?

Investing having regard to PanEuropean pension fund liabilities -a risk management perspective

Sathish Ramdayal,Senior Consultant, Barrie &Hibbert, Edinburgh

• Addressing the additionalliability complexities incross-border funds

• Challenges in managingpotentially complex assetstrategies

• Managing the ‘micro’ and ‘macro’risk budgeting perspectives

• Governance challengesand opportunities

10.10RefreshmentsSponsored by:

10.25 Asset pooling,Pan European Pensions; meetingthe needs of multinational benefitexecutives/trustees, andovercoming their problems inestablishing Pan Europeanpensions

Panel Members: William Slattery,Chief Executive Officer, State Streetinternational (Ireland) Chairman,Deborah Reidy, Executive Director,Hewitt Associates, GeoffreyFurlonger, Chairman, InternationalEmployee Benefits Association;Pat Wall, Partner, PwC; CaseStudies, and speakers frommultinational plan sponsor funds:to be announced

Gold SponsorsGlobal TransactionServices, a division ofCiti Markets & Banking,offers integrated cash

management, trade, and securities andfund services to multinationalcorporations, financial institutions andpublic sector organisations around theworld. With a network spanning over 100countries, Global Transaction Servicesclears over 1.5 million securities tradesper day and holds over $252 billion inthird party liabilities underadministration and $11 trillion in assetsunder custody and trust.

Citi is a world premier provider ofsecurities and fund services and a trustedcustodian. Managers of mutual funds,offshore funds, separately managed

accounts and various investmentprograms turn to Citi for service excellenceand a complete end-to end solution.

Deloitte Ireland is aworld-class firm ofexpert business

advisers who’s objective is to help ourclients succeed by anticipatingtomorrow’s agenda with focused,insightful and fresh thinking borne out ofour multidisciplinary strengths. We drawupon our specialist skills in audit, tax,consulting and financial advisory bothwithin Ireland and across the Deloitteworldwide network.

Deloitte’s financial services practiceoffers a wide array of services to clients inthe banking and securities, investmentmanagement and insurance sectors. Inaddition to audit and taxation services wehave experts in accounting and reporting,

actuarial services, asset securitisation,regulatory compliance and governance,strategic risk and capital management,investment performance measurement,financial institution restructuring andmanagement consulting.

We are part of Deloitte’s globalfinancial services industries practice, whichoperates through dedicated financialservices professionals in over 40 countries,including all major global centres.

The European Federationfor Retirement Provisionrepresents the variousnational associations ofpension funds and similar

institutions for pension provision. TheEFRP has members in most EU MemberStates. It will enlarge its membership inother new EU Member States as andwhen representative organisations for

occupational pensions emerge.EFRP membership at large consists of

institutions for occupational (2nd pillar)retirement some of them also operatingpurely individual pension schemes. Insome Member States up to 90-95% of thework force have their occupationalpension funded through EFRPmembership (e.g., Denmark, Netherlands,Poland, Sweden). Whereas in Germany,Spain, Ireland, the United Kingdom 80%of the occupational pension provision isfunded by EFRP members.

Ernst & Young, a global leader inprofessional services, delivers a broadarray of solutions to help companiesachieve growth, improve financialperformance and manage risk anywhere

Welcome Programme

pensions draft2 11/10/2007 12:56 Page 4

15.45 Panel Discussion III:Liability pooling,Risk Management andPan European Pensions

Panel members:Sathish Ramdayal, SeniorConsultant, Barrie & Hibbert,Edinburgh, Tim Reay, PrincipalGlobal Benefits, Hewitt Associates,Johan Girost, Actuary - PensionFunds Manager, Dexia Insurance& Pensions Services

16.25 Pensions Governancefor Multinational Employers

Tim Reay, Principal, GlobalBenefits, Hewitt Associates

• Why is governance a key issue?

• Assessment and classificationof risks

• Developing, implementing andmonitoring appropriate policyand procedures

16.40 Panel IV: ProductInnovation : Presentations andQ&A Session

Panel members: John Feely,Actuary, Mercer, David Fagan, CEOLegal & General International,Bernard Hanratty, ManagingDirector, Head of Fund Services,Europe, Middle East and Africa, Citi,Aaron Overy, Head of AssetPooling Sales, Northern Trust

• Master Trusts - UK & Ireland,Europe - Mercer

• Open Architecture life products -Legal & General

• Developments with regard tostructuring for example, virtualpooling, ‘third generation’pooling, examples beingNorthern Trust’s patentedpooling process, Citigroup’s‘third generation’ pooling.

• DC Schemes - possiblemultinational structures

• Risk Sharing and Hybrid PensionPlans

17.30 Conference Sessionsconclude. Cocktail Reception

19.00 Gala Dinner andEntertainment

11.05 The Evolution of theCommon Contractual Fund- Case Study

Mark Cerimele, Senior Manager,International Product Management,Vanguard Group

11.20 The CCF, and asset poolingpotentials

Neal Chansky, COO,Continental/Offshore, State Street

11.35 Panel Discussion II:Asset poolingBernard Hanratty, ManagingDirector, Head of Fund Services,Europe, Middle East and Africa, Citi

Panel members: Kerry Ann White,ABN AMRO Mellon GlobalSecurities Services B.V., JacquesElvinger, Partner, Elvinger Hoss &Prussen, Aaron Overy, Head ofAsset Pooling Sales, Northern Trust,Gavin Nangle, Head of BusinessDevelopment, State Street (Ireland),Christian MacManus, Director,Deloitte, Lut Sommerijns, SecretaryGeneral, Belgian Association ofPension Institutions, Johan Girost,Actuary - Pension Funds Manager,Dexia Insurance & Pensions Services

Update on European poolingsolutions: FCP (Luxembourg);CCF (Ireland); FGR (Netherlands);PFPV (UK); OFP (Belgium)• Barriers to pooling: investment

regulations, custodial regulations,accounting regulations

• Tax Aspects: The elimination oftax obstacles for pan-Europeanpension funds

• The ECJ’s role in removingobstacles - i.e. Denkavit/Fokus/Belgium cases

• Overcoming tax barriers to allowcentralisation of pension capitalin pan-European funds

• VAT

12.30LunchSponsored by:

13.30 Afternoon session: Pan-European Pensions, Retirementand Asset Management Solutions- pipe dreams or realisable goals?

Pat Wall, Chairman Pensions,Task Force of Clearing House Groupof Irish Government & Partner,PricewaterhouseCoopers

• Can the remaining obstaclesto the creation of a truepan-European pension marketbe overcome?

• Tax/Regulation: The Single Market- facing up to the challenge

• Update on the Pensions Directive(IORP)

• Could IORPs be the New UCITS?

• The EC White Paper onInvestment Funds - progress onpooling funds under the UCITSframework

13.45 The Role of Cross BorderLife Companies in the emergingPan European Retirementmarketplace

David Fagan, CEO, Legal & GeneralInternational

• Demographic and mobilitytrends mean that a PanEuropean Retirementmarketplace must emerge

• Cross border life companiesalready provide and distributeproducts in many EU countries

• Open architecture, flexible,individual products togetherwith their administrativeplatforms are already in place

• Recent EU judgements are acatalyst for pension business tobe written on a freedom ofservices basis

• It is not a major jump for crossborder life products to becomequalifying retirement planningstructures

• Life companies would be bestserved by focusing on individual‘executive pension’ type structures

14.00 Tax Transparent PensionsVehicles

Paul McGowan, Partner, KPMG

14.15 The IORP Directive

Erich Eggenhofer,Insurance and Pensions Unit,European Commission

• state of play

• issues for further consideration:funding issues; IORPs andSolvency II; Cross borderactivities; Host law vs. Homelaw; Tax issues

14.30 Securities Lending and thechallenges in Pension Pooling

Ali Kazimi, Director, Ernst & Young

• Technical challenges: lender andborrower

• Tax authority attitudes

• Risk and operational challenges

14.45 RefreshmentsSponsored by:

15.00 Parallel Pooling - Assetpooling within an EPP context

Aaron Overy, Head of AssetPooling Sales, Northern Trust

15:15 Keynote address

Dermot McCarthy,Secretary General, Department ofAn Taoiseach

15:30 Current developments inthe regulation of pensions

Tony Hobman, Chief Executive,UK Pensions Regulator

• Current challenges in pensionsregulation

• How the UK is responding tothese challenges

• The impact of the IORP(pensions) Directive

• The role of the CEIOPSOccupational PensionsCommittee

in the world. Its 114,000 people in 140countries worldwide pursue the highestlevels of integrity, quality, andprofessionalism in providing a range ofsophisticated services centred on our corecompetencies of auditing, accounting,tax, and transactions.

The Irish practice of Ernst & Young isone of the leading firms of auditors andbusiness advisors in Ireland with a firstclass range of clients who operate in allsectors of the economy. The firm employsover 1000 people between our principaloffice in Dublin and our regional officesin Cork, Waterford, Limerick and Galway.

Hewitt Associates(NYSE:HEW) is a GlobalOutsourcing & ConsultingFirm with a formidablereputation for Market

Leadership, Technical Expertise and Service

Excellence. With the broadest range ofservices and the deepest expertise, Hewittis the only Organisation capable ofoffering one stop shopping for virtually allHuman Resource requirements.

Hewitt employs more than 25,000Associates, located in 94 Offices in 35Countries around the World and servesmore than 2,600 Clients.

In Ireland Hewitt is a market leaderin Actuarial, Pensions Administration,Strategic Benefits and InvestmentConsulting. With offices in Dublin andCork, and a team of highly skilledprofessionals across several disciplines,Hewitt works with many of Ireland’sleading indigenous and multinationalOrganisations.

IDA Ireland is theeconomic developmentagency of the IrishGovernment which has

prime responsibility for overseasinvestment into Ireland.

Its International Financial ServicesDivision markets Ireland as an attractivelocation for the world’s leading financialinstitutions in such sectors as internationalbanking, funds management, corporatetreasury and international insurance.

IDA actively encourages the more than400 international financial institutions inIreland to exploit the operating,regulatory and tax advantages of Ireland.The objective is to deepen and broadenthe range of activities they carry out, forthe benefit of their parent organisations.

The international financial servicessector is particularly well suited to

Ireland, and many of the world’s majorinstitutions have substantial operationshere in such locations as Dublin, Kilkenny,Cork, Letterkenny, Galway and Waterford.

Invest Northern Ireland(Invest NI) is the agencyresponsible for economicdevelopment in NorthernIreland, providing the

strategic vision for the financial servicessector in the region, and driving thegrowth of the North’s sector capability.We offer a flexible and comprehensiveservice and incentives to accelerategrowth, maximise profitability andfacilitate recruitment, training and R&D.

Northern Ireland attracts globalfinancial services firms because of itsfresh labour pool of skilled people,competitive costs, favourable macro-environment, sophisticated infrastructure

pensions draft2 11/10/2007 12:56 Page 5

Jaap Maassen,Chairman, EuropeanFederation forRetirement ProvisionJaap Maassen joined

ABP in 1996 as Director of Pensionsand Member of the Board withspecial responsibilities includingthe Pensions, IT, Insurance andMortgage Divisions. ABP is world’ssecond largest pension fund withassets amounting some 190 billionEuro. In 2004 he was appointed asChairman of the EuropeanFederation for Retirement Provision(EFRP) where he previously servedon the Board.

Pat Wall, Partner,Pricewaterhouse-CoopersPat is a tax partner withPricewaterhouse-

Coopers in Dublin. He specialises ininvestment management,insurance and pensions. He alsohas overall responsibility for foreigndirect investment. He is a memberof the IFSC Clearing House Group(CHG) which has overall strategicresponsibility for development ofIreland’s international financialservices industry. In that capacityhe chairs the Pan-EuropeanPensions Task Force which has amandate to advise the CHG on howIreland should position itself tobenefit from the emerging EUsingle market in pension provisions.

Peter Schonewille,Taxation and CustomsUnion, EuropeanCommissionPeter joined the

Commission in 1993 and previouslyworked in DG Competition and DGInternal Market. He is now with theDirect Tax Infringement Unit of theDirectorate General Taxation andCustoms Union. Peter deals withthe infringement procedures andcourt cases in direct taxationconcerning the United Kingdom,

Belgium and the Netherlands. Heworked on the Commission’s‘Communication on the eliminationof tax obstacles to the cross-borderprovision of occupational pensions’,adopted in 2001 and on theCommunication ‘Dividend taxationof individuals in the InternalMarket’, adopted in 2003.

Dave Fagan ChiefExecutive Legal andGeneral InternationalDave Fagan has over 25years experience in the

life assurance industry, both inIreland and abroad. He has beeninvolved in the development of theInternational Financial Servicessector in Ireland since the early1990s. A qualified accountant,Dave has spent much of his careerin senior marketing and GeneralManagement positions. He wasChief Executive of Irish LifeInternational between 1998 and2007 and has recently taken up thepost of Chief Executive of Legal andGeneral International (Ireland) witha brief to establish a cross borderlife assurance company for one ofthe UK’s leading insurance, pensionand investment groups.

Tim Burggraaf,European Partner,MercerTim joined Mercer in2001. He has a Masters

in Pensions and Life Assurancesfrom the Hermes University and isa member of the Dutch Order ofPension Experts (NOPD) and theCircle of Pension Specialists (KPS).In addition to being managingconsultant for several largemultinational clients, Tim chairsMercer’s Dutch Centres ofExcellence on Pan-EuropeanSolutions as well as DefinedContributions and is a member oftheir European equivalents.

Tim Reay, Seniormember of theInternational Benefitspractice, HewittTim Reay is an

international consulting actuaryand a senior member of theInternational Benefits practice. Headvises multinational corporations,organisations, and governments onall aspects of worldwide benefitprovision for their employees. Thisincludes scheme design, financing,valuation and administration, aswell as consolidation of pensionexpense under internationalaccounting standards, and theparticular issues faced byinternationally-mobile employees.

Tony Hobman, ChiefExecutive, UK PensionsRegulatorTony has held a numberof senior appointments

within the financial services arena.He spent twenty years withBarclays Bank, holding a number ofkey roles in marketing, project andchange management and customerservice. In 1996 he joined ProShareas head of investor services andwas promoted to chief executive in1999. From 2000 to 2001 he waschief executive of Money Channelplc. In 2002 he was appointed aschief executive of the OccupationalPensions Regulatory Authority(Opra) and in July 2004 chiefexecutive designate of the PensionsRegulator. In April 2005 he beganwork as the first chief executive ofthe Pensions Regulator.

Ali Kazimi, Director,Ernst & YoungAli Kazimi is the Headof Investment &Operational Taxes at

Ernst & Young. Prior to joiningErnst & Young, he was Head of Taxat Barclays Global Investors. Hisfinancial services experience spansover 15 years, with leading

professional services and banks. Hehas considerable experience oflobbying and negotiating withinternational taxation authorities.

Erich Eggenhofer, Legal and policyofficer for Insurance and Pensions,European CommissionErich Eggenhofer is currently theresponsible officer for OccupationalPensions in DG MARKT (Unit forInsurance and Pensions). Hisresponsibilities include advisingMember States on theimplementation of the InternalMarket Acquis on OccupationalPensions, the preparation of the2008 review of the pertinent acquisin close cooperation with CEIOPS,and the execution of enforcementprocedures against Member Statesin this domain.

William SlatteryManaging DirectorState StreetInternationalWilliam assumed the

position of managing director ofState Street International (Ireland)Limited in February 2003, followingthe acquisition by State StreetCorporation of DeutscheInternational (Ireland) Limited.William had been managingdirector of Deutsche International(Ireland) Limited since January2002. He worked for the CentralBank of Ireland for more thantwenty years until 1996 and wasresponsible for supervising Dublin’sInternational Financial ServicesCentre from its establishment in1987 until 1995.

John Feely, Actuary,MercerJohn Feely FIA FSAIAIIPM is an actuarybased in Dublin. He

joined Mercer in 2005 to lead thedevelopment of integratedretirement solutions that bring

Speaker Biographies

…continued overleaf

and existing cluster of synergisticbusinesses. As Ireland’s second largestfinancial services centre less than 2 hoursfrom Dublin, Belfast complements andenhances the established success ofDublin and makes the island of Ireland atruly compelling proposition.

KPMG in Ireland is aleading firm ofchartered

accountants and business advisers inIreland. Our firm has 76 partners andmore than 1600 people in offices inDublin, Cork, Galway and Belfast.

We work with clients in many sectorsof Irish business, providing a range ofAudit, Tax and Advisory services.

The cornerstones of our business arequality of advice, quality of service, andquality of our people.

Legal & General makesfinancial security easierto achieve for millionsof people. To manyretired people, the

pension fund they have built up over theyears is what they now depend on.

To people of working age, the savingsthey make into ISAs, unit trusts andpension funds are a vital source ofreassurance today and financial securityin the future.

At every stage of life, people seekfinancial security and protection forthemselves, their loved ones and theirpossessions. Through our range ofgeneral insurance and protectionproducts we help protect the lives, thehealth, the homes and the belongings ofmillions of people.

Mercer Human Resource Consulting isthe global leader for trusted HR andrelated financial advice, products, andservices. We do this by enhancing thefinancial and retirement security, health,productivity, and employmentrelationships of the global workforce.

Mercer Human Resource Consultinghas more than 15,000 employees servingclients from more than 180 cities and 42countries and territories worldwide.

Northern Trust Corporation (Nasdaq:NTRS) is a leading provider of investmentmanagement, asset and fundadministration, fiduciary and banking

solutions for corporations, institutionsand affluent individuals worldwide.Northern Trust, a multibank holdingcompany based in Chicago, has agrowing network of 84 offices in 18 U.S.states and has international offices in 12locations in North America, Europe andthe Asia-Pacific region.

Our consistently strong financialperformance, as of June 30, 2007, includes:- $60 billion in banking assets; $4.0

trillion in assets under custody; $767billion in assets under management

PricewaterhouseCoopers(www.pwc.com/ie) provides industry-focused assurance, tax and advisory

…continued overleaf

pensions draft2 28/08/2007 12:43 Page 6

together key aspects of Mercer’sservices. He is also responsible foroutsourced administration andrelated services for Ireland andContinental Europe. John is a pastChairman of the Irish Associationof Pension Funds and has alsoserved as a member of the Board ofDirectors of the EuropeanFederation for Retirement Provisionwhere he chaired the workingparty on pan European pensions.

Dermot McCarthy,Secretary General,Department of AnTaoiseachDermot McCarthy is

Secretary General of theDepartment of the Taoiseach and isalso Chairperson of the NationalEconomic and Social Council.

Aaron Overy Head ofAsset Pooling SalesNorthern TrustAaron Overy is a VicePresident at Northern

Trust. He is a Pooling Consultantand his focus is on developing newcross border pooling opportunitieswith multinationals andinvestment managers.

Deborah Reidy,Executive Director,Hewitt joined Hewittin April 2004 to headup the Investment

Consulting unit and is an ExecutiveDirector of the company. Prior tojoining Hewitt, Deborah was withthe National Treasury ManagementAgency where she was Head ofInvestment Manager Selection andMonitoring for the NationalPensions Reserve Fund (NPRF) andpart of the senior team responsiblefor making recommendations tothe NPRF Commission on AssetAllocation, Investment Strategy,Manager Selection, and otherinvestment related topics.

Sathish Ramdayal, SeniorConsultant, Barrie & Hibbertjoined Barrie & Hibbert in 2006.He is a CFA charterholder andqualified as a Fellow of theInstitute of Actuaries in 1998.Sathish is a member of Barrie &Hibbert’s risk management groupand is responsible for its activitiesin the area of pensions.

Deirdre Power,Partner, Deloitte is aPartner in the FinancialServices Tax Group ofDeloitte Ireland. She

has more than ten yearsexperience in advising financialservices clients in the areas ofinvestment management andfunds, leasing, banking,securitisation and structuredfinance. She is a member of theIrish Funds Industry Association(IFIA) Council and is currentlyChairperson of the IFIA.

Jacques Elvinger, Partner, Elvinger,Hoss & Prussen specialises in thefield of investment funds andpension funds.

Kerry White First VicePresident, Head ofMultinational Businessand ProductDevelopment ABN

AMRO Mellon Global SecuritiesServicesThroughout her 20+-year career inthe financial services industry, MsWhite has specialised in clientrelationship management,proprietary financial modelling,corporate investments and P&Lreporting, as well as strategic andproduct development. In 1995, Kerryjoined Mellon Financial Corporation,where she was employed as a SeniorRelationship Manager for largecorporate pension funds until 1999.

Geoffrey Furlonger, CommitteeMember, International EmployeeBenefits Association and AonConsulting is Head of the EUPractice of Aon ConsultingWorldwide and is also the currentChairman of the InternationalEmployee Benefit Association.

Fernand Grulms, ExecutiveCommittee of The LuxembourgBankers Association is a certifiedpension actuary with theLuxembourg social securitysupervisor IGSS.

Mark Cerimele,Senior Manager,International ProductManagement,Vanguard Investments

Mark Cerimele is a senior managerresponsible for productmanagement in Vanguard’sInternational Division. His team isresponsible for the research,planning, development, andimplementation of newinvestment products and servicesin support of the $36 billionportfolio of Dublin-domiciledfunds. Prior to his current role, Mr.Cerimele held relationshipmanager and operations managerpositions within Vanguard’sInternational Division. Mr. Cerimelereceived his B.S. in finance and hisM.B.A. from Penn State University.He is also an adjunct facultymember at Immaculata University,where he teaches courses ininternational business andmultinational finance.

Bernard Hanratty,Managing Director,Head of Fund Services,Europe, Middle Eastand Africa, Citi

Citi’s Securities and Funds Servicesbusiness provides middle and backoffice solutions for asset managers,banks, insurance companies,pension funds and mutual funds.Fund Services, together with Citi’sglobal custody and securities

finance products, provides a marketleading, integrated service to theinvestor community. In addition toBernard’s general businessresponsibilities, he also focuses onasset pooling solutions for thepensions industry and multi-jurisdictional asset managers.

Paul McGowan,Taxation Partner -Financial Services,KPMG is a tax partnerin KPMG Ireland. He has

specialised in financial services tax,being involved with clientsestablishing in the IFSC since itsinception. He focuses particularlyon banking, securitisation, leasingand mutual funds. He is a pastchairman of IFIA and is a memberof the Taoiseach’s working groupon Banking and Treasury issues.He has been appointed to the EUArbitration Panel on Transfer Pricingand is Global Leader of KPMGFinancial Services Tax Network.

Gavin Bullock is a TaxPartner based inLondon. He specialisesin asset management,mergers and

acquisitions, securitisation and bothUK and offshore funds. He currentlyworks with a number of financialinstitutions, asset managers andcustodians. He advises on theestablishment of onshore andoffshore funds includingLuxembourg FCPs, Irish CCFs, UnitTrusts, fund migrations andredomiciliations, together with theselection of appropriate investmentvehicles and the impact on multi-jurisdictional investors.Gavin hasalso recently advised oninternational real estate investmentfunds, and investment fundrestructuring principally for financialservices clients. He currently leadsthe UK pension pooling practice andis in the process of implementingpension pooling solutions for a widerange of clients.

services for public and private clients.More than 140,000 people in 149countries connect their thinking,experience and solutions to build publictrust and enhance value for clients andtheir stakeholders. Pricewaterhouse-Coopers refers to the network of memberfirms of PricewaterhouseCoopersInternational Limited, each of which is aseparate legal entity.

State StreetCorporation (NYSE:STT) is the world'sleading provider offinancial services to

institutional investors. With $13.0 trillionin assets under custody and $1.9 trillion inassets under management at June 30,2007, State Street operates in 26 countriesand more than 100 geographic markets.

Since our entry into the Irish market in

1996, State Street International (Ireland)Ltd. has grown to be the largestadministrator and custodian in Ireland. InMay, 2007 we were awarded the KPMGFunds Administration Excellence Awardfor the second consecutive year.

Together, State Street and its hedgefund administration company,International Fund Services (IFS), havemore than 2,000 employees throughoutlocations in Dublin, Kilkenny, Naas andDrogheda. Further expanding is footprintin Ireland, in early July State Streetannounced that it completed itsacquisition of Investors Financial ServicesCorporation. State Street has beenproviding comprehensive fund services tocustomers since 1924. For our customersin Ireland, we offer a host of flexible fundservices, including: Multi-currencyvaluations; Global custody and

accounting; Transfer agency/shareregistration; Regulatory compliancemonitoring; Trustee services

Establishment and support servicesfrom our Legal, Tax and CorporateSecretarial groups.

Vanguard Investments Europe is theEuropean asset management andmarketing arm of The Vanguard Group,Inc. The Vanguard Group is anindependent fund manager that hasgrown into a world leading assetmanager. Today, Vanguard managesmore than €977 billion, with more than

€484 billion in index funds. While beinga strong proponent of indexing,Vanguard also offers institutionalinvestors world-class actively managedsolutions such as enhanced equitystrategies or traditional active equityfunds. In response to the growing needsof its pension fund clients, Vanguard hasalso recently launched a CommonContractual Fund, a global pensionpooling vehicle designed to be fiscallytransparent. Our group maintains highstandards of corporate governance,transparency and ethics and promotesthe benefits of its investment philosophy- in particular those of cost optimization.

Offices are located in the USA(Headquarters), Europe, Australia, Japanand Singapore. Vanguard offers over 170investments funds worldwide, coveringthe main asset classes.

Silver Sponsor

Speaker Biographies …continued from overleaf

pensions draft2 11/10/2007 12:56 Page 1

The Pan European Pensions and Asset Pooling Summit 2007To book a place on this event, please complete the form below.

Please complete one form per delegate, using photocopies where necessary, and sent to:Customer Services, Fintel House, 6 The Mall, Beacon Court, Sandyford, Dublin 18, Ireland.Tel: 00 353 1 293 0566; Fax: 00 353 1 293 0560; Email: mb@fintel.org

You can book and register online at www.financedublin.com/conference/2007. Call today to make a credit card booking.

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Accommodation: If you are attending the conference and need accommodation, Finance Dublin have arranged a special discount rate at the followinghotels, The Hilton, Kilmainham, Fitzwilliam Hotel, Westbury Hotel, Westin Hotel, The Four Seasons Hotel, The Merrion Hotel that delegates can avail of.When booking, please quote the ‘Finance Dublin Conference’ to obtain your discount.

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When and where16th October 2007, Royal HospitalKilmainham, Dublin, Ireland.

This historic venue, set in 48 acres,is one of Ireland’s top conferencecentres, playing host to majoraffairs of state and is also thehome of Ireland’s Museum ofModern Art. Set in stately grandeurof its own formal landscapedgardens and tree lined avenues.

How to register and payVisit the conference website, register andpay on-line,www.financedublin.com/conference

Complete and return the registration formtogether with payment to: Fintel Ltd.,Fintel House, 6 The Mall, Beacon Court,Sandyford, Dublin 18, Ireland.

Call our hotline:00 353 1 293 0566

Complete your registration form, togetherwith your credit card details and fax to:00 353 1 293 0560

1. Payment by credit card(Please debit my credit/debit card number:

Valid from: Expires:

Issue no (Switch): Security code:

Visa Amex Mastercard

Cardholder’s name..............................................................................

Signature ..............................................................................................

2. Payment by chequeI enclose a cheque made payable to Fintel Ltd.

What does this fee includeLunch, refreshments, full conference documentation andGala Dinner. The fee does not include hotelaccommodation. Payment must be made in full beforethe conference. After receiving written confirmation ofyour booking, together with your remittance, we willsend you confirmation and admission details.

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