September 30, 2024 - We have officially concluded the LSTA’s 2024 Annual Conference and my first as new CEO of the organization.  It was a great day that we shared with our more than 850 registrants, connecting with old friends and meeting new people.  Capital markets have been very robust this year and we recognize that finding the time to attend a conference can be challenging, and we are certainly appreciative of the strong support we received from our membership.

This year, the Annual Conference was of particular importance given the rapidly changing and dynamic market in which we live.  Traditional market contributors, as well as extraneous factors, will all shape our economy and market over the months and years to come.  Having an open forum to discuss these items is imperative for the capital markets to continue to thrive.  Overall the tone was positive with focus on the opportunities that lie ahead for all of us, but it with reminders that there are risks that lie ahead.  If we remain diligent and vigilant we will be able to successfully navigate the future.

We were particularly fortunate to have insightful and entertaining keynote speakers, including Dr. Marci Rossell, who spoke to us on the economy and the multitude of factors impacting the shape of our financial progress and well-being, to Admiral James Stavridis, who provided us with an extraordinary and unique viewpoint on global risk and security, as well as were opportunities may reside, to Tom Majewski, founder of Eagle Point Credit Management who touched on topics much closer to home, namely leveraged finance and of course, CLOs. 

I hope that everyone who attended had their own unique and personal takeaways.  We all have different backgrounds, experiences, goals, and as such the lessons we learn from industry experts at an expansive conference will be varied and specific to the person.  I would like to share some of mine with you now.  I am deliberately keeping this list to three, but rest assured there are more.

• We live in exceptional times with exceptional opportunities.  The markets rapidly change and remain very dynamic.  We are entering into a new rates paradigm, coupled with geo-political tensions (both home and abroad), as well as an evolving market structure between the syndicated and private corporate credit markets. 

• We must continue to be mindful of risks in this ever-changing world.  However, being mindful of the risks does not mean being fearful.  We “see” a number of the risks that are potentially on the horizon, and that provides us with an opportunity to prepare for whatever may come our way.

• The level of support of and desire for improvement and innovation in the corporate lending markets remains incredibly strong.  Progress is being made daily on all fronts and as long as we as a market remain dedicated and committed to change, we will continue to progress.

Such a conference would not have been possible without our sponsors, keynote speakers, esteemed panelists, and moderators.  Thanks to all of you for being such an instrumental part of what made the Annual Conference great.  Kudos to the LSTA staff for planning and executing the event – the small but mighty team came through again this year.  And finally, my gratitude and appreciation for all of our members – the Annual Conference is the event the LSTA puts on for you and it would not be possible without your ongoing support.

Best regards and looking forward to seeing all of you next year at our 2025 Annual Conference!