October 22-23, 2018
2018 Dreyfus Cash Solutions Symposium
|Tuesday, October 23, 2018
The Dominick – Business sessions
Opening Remarks and Firm Overview
Des Mac Intyre, Executive Chairman & CEO, BNY Mellon Asset Management in North America & CEO of U.S. Asset Management
Tracy Hopkins, Chief Operating Officer, BNY Mellon Cash Investment Strategies
Outlook for the Economy and the Financial Markets
Vincent Reinhart, Chief Economist & Macro Strategist of Standish, part of BNY Mellon Asset Management North America
Current Thoughts from our Investment Team
Patricia Larkin, Chief Investment Officer, BNY Mellon Cash Investment Strategies
Keith Lawler, Supervisor of Credit Research, BNY Mellon Cash Investment Strategies
Colleen Meehan, Director, Tax-Exempt Money Market Fund Strategies, BNY Mellon Cash Investment Strategies
Thomas Gamello, Senior Tax-Exempt Credit Manager, BNY Mellon Cash Investment Strategies
Rating Agency Roundtable: Methodology Highlights
Moderator: Keith Lawler, Supervisor of Credit Research, BNY Mellon Cash Investment Strategies
Greg Fayvilevich, Senior Director and Head of Fitch Ratings' U.S. Funds & Asset Managers Group
Rory Callagy, Senior Vice President/Manager, Moody’s Investor Service
Joseph Giarrantano, Associate, Standard & Poor’s Fund Ratings Group
Preparing Leaders for the Workforce of the Future
Anne Loehr, Executive Vice President at the Center for Human Capital Innovation (CHCI)
European Money Market Reform – What You Need to Know
Robert O’Riordan, Institutional Business Development Director of Insight Investment, Part of BNY Mellon Asset Management
James O’Connor, Senior Portfolio Manager, BNY Mellon Cash Investment Strategies
Timothy Barrett, Senior Vice President, Director, Dreyfus Institutional Services
Money Market Industry Update
Peter Crane, President & CEO, Crane Data, LLC
Closing Remarks / Open Discussion
Tracy Hopkins, Chief Operating Officer, BNY Mellon Cash Investment Strategies
Sue Ann Cormack, Executive Vice President, Director of Sales, BNY Mellon Fixed Income
Senior Vice President and Director, Dreyfus Institutional Services
Tim Barrett is a Senior Vice President and Director of the Dreyfus Institutional Services team. Mr. Barrett is responsible for the client service and operational support of the Dreyfus institutional and intermediary client base. Part of Mr. Barrett’s responsibility includes overseeing the Blue Sky registration and sales reporting function for the Dreyfus Family of Funds. Mr. Barrett and his team are active participants in the Investment Company Institute’s Blue Sky Working Committee.
Mr. Barrett joined Dreyfus in July 1997 and has over 20 years of financial services experience. In addition, he holds a B.A. degree from the State University of New York at Oneonta, where he majored in business administration and minored in finance.
Robert M. Callagy, Jr.
Senior Vice President / Manager, Moody's Investors Service
Rory Callagy is currently responsible for Moody’s Funds & Asset Management ratings practice in the Americas. This includes ratings on over 60 asset managers and 400 investment funds across 5 countries. He joined Moody’s Global Managed Investments Group in 1998, working on analysis of investment funds. Mr. Callagy regularly speaks at industry conferences on trends and developments in the asset management sector. He holds a B.A. in Government from Georgetown University.
Sue Ann Cormack
Executive Vice President, Director of Sales, BNY Mellon Fixed Income
Sue Ann Cormack is Executive Vice President, Director of Sales for BNY Mellon Fixed Income, a division of MBSC Securities Corporation, a registered broker-dealer, and Vice President of BNY Mellon. Ms. Cormack leads various enterprise projects focused on short-term investing, and is responsible for the management oversight of institutional sales focusing on money market and short duration products.
With more than 29 years of service, Ms. Cormack joined the Dreyfus Institutional Services Department in Los Angeles, CA. She was promoted to Regional Sales Manager in 1994 and to Director of Sales in 2000.
Prior to joining Dreyfus, Ms. Cormack worked in the areas of Finance and Accounting, Trust and Wealth Management, and Investment Accounting for various financial institutions, including Citibank, Northwestern National Bank, and Michigan National Bank.
Ms. Cormack graduated with a Bachelor of Arts from St. Olaf College in Northfield, MN. She holds the NASD Series 7, 6, 24, 26 and 63 licenses.
Peter G. Crane
President & CEO, Crane Data, LLC
Peter G. Crane is President & CEO of Crane Data, LLC, a money market and mutual fund information firm. Crane Data is the publisher of Money Fund Intelligence™, a monthly report that includes news, analysis, performance statistics and indices on money market mutual funds and the cash investment industry. Mr. Crane was previously Vice President & Managing Editor of iMoneyNet. He was also the author of the book Mutual Fund Investing on the Internet (AP Professional, 1997) and was previously editor of investment newsletters Donoghue’s Moneyletter and Fidelity Insight. Mr. Crane studied economics at Brown University.
Senior Director and Head, Fitch Ratings' U.S. Funds & Asset Managers Group
Greg Fayvilevich is a Senior Director and head of Fitch Ratings' U.S. Funds & Asset Managers group based in New York. The U.S. Funds group is responsible for Fitch’s coverage of U.S. money market funds, local government investment pools, and bond funds. Mr. Fayvilevich’s team is responsible for assigning and maintaining ratings, developing rating criteria and models, and publishing research on analytical and regulatory developments affecting the sectors the group covers.
Previously, Mr. Fayvilevich was a member of the Financial Guarantors group at Fitch. Prior to joining Fitch, Greg worked for ACE Group.
Mr. Fayvilevich earned a B.S. in finance from Rutgers University.
Thomas P. Gamello
Senior Vice President and Senior Tax-Exempt Credit Manager, BNY Mellon Cash Investment Strategies
Thomas P. Gamello is a Senior Vice President and Senior Credit Manager for BNY Mellon Cash Investment Strategies (“CIS”), a division of The Dreyfus Corporation. Mr. Gamello is responsible for supervising the credit research activities for the tax-exempt money market funds. Previously, he was a senior fixed income analyst in the Municipal Securities Division of Dreyfus. Mr. Gamello has an M.B.A. in finance from the State University of New York at Albany and a B.S. from the State University of New York at Oneonta.
Associate, Standard & Poor’s Fund Ratings Group
Joe Giarrantano is a Ratings Associate in S&P’s Fund Ratings group, covering money market funds, short duration & enhanced cash vehicles, local government investment pools, and exchange traded funds. After having completed analytical rotations in London and Paris, he now covers a global rating portfolio of U.S. and European - domiciled institutional investment funds. Mr. Giarrantano co-authored S&P’s Fund Volatility Rating Criteria and has published market commentary focusing on the impact of regulatory reform, geopolitical events, and headline risks affecting rated funds. In addition, Mr. Giarrantano works closely with S&P’s Public Finance group to assess the liquidity and debt issuance capacity of health care and higher education issuers.
Prior to joining S&P in New York, Mr. Giarrantano covered domestic and offshore fixed income and equity funds at ALPs Funds, a Denver based provider of asset management, private equity, and hedge fund services. Mr. Giarrantano also served as the Denver based Event Coordinator at LivingSocial, where he organized large-scale public events in the Colorado Rocky Mountains, including ski trips, vineyard tours, and marathons.
Chief Operating Officer, BNY Mellon Cash Investment Strategies
Tracy Hopkins is Chief Operating Officer of BNY Mellon Cash Investment Strategies (“CIS”), a division of The Dreyfus Corporation, and Executive Vice President of MBSC Securities Corporation. Ms. Hopkins is responsible for operational oversight of investment management activities as well as distribution efforts for Dreyfus/BNY Mellon’s money market and ultra-short fixed income products. Ms. Hopkins is responsible for the growth and maintenance of over $200 billion in assets under management, including Dreyfus money market funds, offshore liquidity funds, private money funds, sub-advised money market funds, and BNY Mellon short-term collective funds.
Prior to focusing on her current role, Ms. Hopkins also had operational oversight of CIS’s short duration fixed income separately managed accounts and cash collateral reinvestment activities from 2009-2015.
Ms. Hopkins served as Regional Institutional Sales Manager and Executive Vice President for Dreyfus’ money market and short duration fixed income separately managed account products from 1999 through 2009. Her team was responsible for distribution activities to broker/dealers, national clearing firms, investment advisers, and New York banking institutions.
Ms. Hopkins joined the Dreyfus Institutional Services Department in 1986 in Client Services and became Executive Vice President of Dreyfus’ Institutional Operations and Client Service groups prior to her role as Regional Institutional Sales Manager in 1999.
Ms. Hopkins graduated with a Bachelor of Arts in mathematics from the State University of New York at Binghamton in 1985. She holds Series 7 (Registered Representative) and Series 24 (General Securities Principal) FINRA licenses and is a participating member of the ICI Money Market Advisory Committee.
Patricia A. Larkin
Chief Investment Officer, BNY Mellon Cash Investment Strategies
Patricia A. Larkin is Chief Investment Officer at BNY Mellon Cash Investment Strategies (“CIS”), a division of The Dreyfus Corporation. Ms. Larkin is responsible for investment oversight for Dreyfus money market funds, Dreyfus Ultra Short Income Fund, offshore liquidity funds, private money funds, sub-advised money market funds, and BNY Mellon short-term collective funds.
Additionally, she is a senior portfolio manager for numerous money market funds and oversees the fund’s trading group. Ms. Larkin serves as a member of the Dreyfus Counterparty Credit Research Committee, the Dreyfus Risk and Compliance Committee and the Dreyfus Money Market Liquidity Oversight Group. She attended Hartwick College and Fordham University.
Supervisor of Credit Research, BNY Mellon Cash Investment Strategies
Keith Lawler is a Senior Vice President and Supervisor of Credit Research for BNY Mellon Cash Investment Strategies (“CIS”), a division of The Dreyfus Corporation. In addition to his duties as credit research supervisor, he is responsible for credit surveillance of sovereigns and international banks domiciled in the Asia-Pacific region. Prior to joining The Dreyfus Corporation in July 2000, Mr. Lawler spent four years in the Securities Valuation Office (SVO) of the National Association of Insurance Commissioners (NAIC), where he was a senior associate securities analyst specializing in financial institutions responsible for analyzing fixed income securities held in insurance company investment portfolios. He has an M.B.A. and a B.A. from Manhattan College.
Executive Vice President at the Center for Human Capital Innovation (CHCI)
After graduating from Cornell University’s Hotel School, Anne Loehr managed and eventually owned international, eco-friendly hotels and safari companies for over 13 years.
Since selling her hospitality businesses and becoming a certified executive coach, facilitator and EVP at the Center for Human Capital Innovation (CHCI), she has worked with diverse organizations such as Facebook, AstraZeneca, Merrill Lynch, American Red Cross, Coca-Cola, P&G and Williams-Sonoma to consistently help organizational teams improve their communications and deepen their working relationships.
Named the "Generational Guru" by The Washington Post, Ms. Loehr’s work has been featured in Newsweek International, The Washington Post, The New York Times, National Geographic Traveler, Washingtonian and CNN Money.
She writes for Fast Company and The Huffington Post, and co-authored two management books: A Manager’s Guide to Coaching: Simple and Effective Ways to Get the Best Out of Your Employees and Managing the Unmanageable: How to Motivate Even the Most Unruly Employee.
James Desmond Mac Intyre
Executive Chairman & CEO, BNY Mellon Asset Management in North America & CEO, of U.S. Asset Management
Des Mac Intyre is the head of BNY Mellon Asset Management in North America. In this capacity, he acts as the Chairman & Chief Executive Officer of the company formed from the merger of Mellon Capital, Standish and the Boston Company. In addition, as CEO of U.S. Asset Management he oversees BNY Mellon Cash Investment Strategies (CIS) investment group within Dreyfus. Mr. Mac Intyre is also responsible for representing BNY Mellon's minority ownership interest in the Siguler Guff companies, a multi-strategy private equity boutique.
Mr. Mac Intyre most recently served as Head of Investment Process Oversight at Bridgewater Associates. Previously, he was the Chairman & Chief Executive Officer of Standish Mellon Asset Management. His investment management experience spans more than three decades and includes roles as Chief Operating Officer at Pareto Partners and Head of Risk and Treasurer for GM Asset Management. Mr. Mac Intyre has an M. Phil. in management studies from the University of Exeter, where he also served as an Honorary Research Fellow, and a B.A. from University College Dublin..
Director of Tax-Exempt Money Market Fund Strategies, BNY Mellon Cash Investment Strategies
Colleen Meehan is a Senior Vice President and Director, Tax-Exempt Money Market Fund Strategies, for BNY Mellon Cash Investment Strategies (“CIS”), a division of The Dreyfus Corporation. She is responsible for the management of Dreyfus’ national and state-specific tax-free money market portfolios. Ms. Meehan has been with The Dreyfus Corporation since August 1999.
With over 30 years’ experience in the municipal bond market, Ms. Meehan has maintained several positions on both the long and short end of the tax-exempt market.
Prior to joining The Dreyfus Corporation, she was a portfolio manager at Prudential Investments since 1980, managing many different investment vehicles. Ms. Meehan managed Prudential’s Money Market Mutual Funds – national and state - specific from 1994 to 1999, tax-exempt unit trusts from 1990 to 1994, long-term municipal bond portfolios from 1984 to 1990, and was a portfolio assistant from 1980 to 1984.
Ms. Meehan is on the Board of Governors of the Municipal Bond Women’s Club of New York and the Municipal Bond Club of New York. Ms. Meehan has taken an active role in the annual Municipal Bond school and participates in several outside charitable venues. She is also a member of the imoney.net Advisory Council and has been a participant in several industry conferences representing the tax-exempt sector of the market, particularly Cranes Money Fund Symposium and iMoneyNet Money Market Expo.
Senior Portfolio Manager, Dreyfus Taxable Fixed Income Group, BNY Mellon Cash Investment Strategies
Jim O'Connor is a Senior Portfolio Manager of Dreyfus Taxable Fixed Income Group for BNY Mellon Cash Investment Strategies (“CIS”), a division of The Dreyfus Corporation. He is a member of the team responsible for portfolio management of the Dreyfus taxable money market funds. He is also the lead portfolio manager for the U.S. dollar portfolios of the BNY Mellon Liquidity Funds, which are offered only to non-U.S. institutional investors. He has served as a member of the Dreyfus Capital Commitments and Risk Management Committees. His previous positions include management, trading and sales positions at Aubrey G. Lanston and Co., Canadian Imperial Bank of Commerce (“CIBC”) and Manufacturers Hanover Trust. He holds a B.S. degree in finance from Providence College.
Institutional Business Development Director, Insight Investment, part of BNY Mellon Asset Management
Robert O’Riordan joined Insight in January 2016 as an Institutional Business Development Director. The Business Development Team is responsible for direct marketing, including to corporates, pension schemes and charities. Prior to Insight, Mr. O’Riordan worked at Morgan Stanley for over 14 years, latterly as a vice president in liquidity sales. He holds a B.S. degree in mechanical engineering from Syracuse University and the Investment Management Certificate from the CFA Society of the U.K. Mr. O’Riordan also holds the Chartered Institute of Management Accountants (CIMA) designation.
Chief Economist & Macro Strategist of Standish, part of BNY Mellon Asset Management North America
Vincent Reinhart is a Chief Economist & Macro Strategist of Standish, part of BNY Mellon Asset Management North America. He is responsible for developing views on the global economy and making relative value recommendations among global bond markets, currencies, and sectors. Previously, he was Chief U.S. Economist and managing director at Morgan Stanley. For the prior four years, he was a resident scholar at the American Enterprise Institute. Vincent worked at the Federal Reserve for 24 years, most recently as Director of the Division of Monetary Affairs and Secretary and Economist of the Federal Open Market Committee (FOMC). His responsibilities at the Federal Reserve included directing research and analysis of monetary policy strategies and the conduct of policy through open market operations, discount window lending and reserve requirements. He was the principal liaison with the domestic desk at the Federal Reserve Bank of New York and was responsible for preparing a document outlining policy alternatives for each FOMC meeting. His earlier experience in the Federal Reserve System included a two-year stint as Deputy Director in the Division of International Finance and Associate Economist of the FOMC and five years spent at the Federal Reserve Bank of New York in a variety of capacities in both the domestic and international research departments. His academic publications primarily concern the conduct of policy and issues related to the monetary transmission mechanism as well as an analysis of alternative auction techniques and Treasury debt management. After an undergraduate training at Fordham University, he received graduate degrees in economics at Columbia University.
|Dreyfus Cash Capabilities||Strength of the Lion||Highlights Dreyfus money market mutual fund's people, philosophy and process.|
|BNY Mellon Fixed Income Solutions||Includes details on a wide range of short-term cash investment solutions along with guidelines on how to tier your cash from operating cash through strategic cash.|
|Quick Facts Pertaining to the Dreyfus Money Market Fund Lineup||List of all Dreyfus money market funds, share classes, primary investments and NRSRO ratings.|
|Commentaries||Taxable Money Market Commentary||Published monthly highlighting the current state of the taxable money market.|
|Tax-Exempt Money Market Commentary||Published monthly highlighting the current state of the tax-exempt money market.|
|H1 2018 Credit Commentary||First half 2018 credit trends by sector.|
|Fed Thoughts: Stargazing in the Mountains||Vincent Reinhart's view on the fed's possibility of continuing to raise rates 2018 into 2019.|
|Market Insights||Monthly market overview featuring commentary on the global economy and the financial markets.|
|Brexit: Deal or No Deal||After decades of strengthening European integration and independence, the giving of notice under article 50 of the Treaty on European Union forces the UK government and the European Union to address the complex challenge of unravelling the many threads that bind them, and to chart a new course of separation and autonomy. Will the deal go through? Or will there be a partial or full exit??|
|European Money Market Reform||EU Money Market Reform: An Overview||Handout that covers the new rules with a detailed comparison of the new categories of money market funds that highlights product structure, composition, and valuation methods.|
|BNY Mellon Liquidity Funds: Preparing for EU Money Market Fund Reform||Highlights a detailed comparison of the new categories of money market funds that covers product structure, composition, and valuation methods pertaining to the BNY Mellon Liquidity Funds.|
|Crane Data Resources||Money Fund Intelligence||The September issue highlighting articles focusing on the Reserve Fund - ten years later, the new IMMFA Chair on EU Reform and Deutsche launching the first ESG money market fund.|
|Money Fund Intelligence||The October issue highlights articles focusing on Prime Funds, EU Reform - highlights from European MFS.|
|Crane Data Products & Services||A brochure that explains money market mutual fund information, products and services available through Crane Data.|
|Dreyfus Resource Materials||Cash Management Money Market Family Literature Finder||All-in-one resource to quickly locate regulatory documents, fund holdings and performance fact sheets for the Cash Management family of money market funds.|
|Institutional Preferred Money Market Family Literature Finder||All-in-one resource to quickly locate regulatory documents, fund holdings and performance fact sheets for the Institutional Preferred family of money market funds.|
|General Money Market Family Literature Finder||All-in-one resource to quickly locate regulatory documents, fund holdings and performance fact sheets for the General Money Market family of money market funds.|
|Institutional Cash Advantage Money Market Family Literature Finder||All-in-one resource to quickly locate regulatory documents, fund holdings and performance fact sheets for the Institutional Cash Advantage family of money market funds.|
|BNY Mellon Liquidity Funds Literature Finder||All-in-one resource to quickly locate regulatory documents, fund holdings and performance fact sheets for the BNY Mellon Liquidity Funds family of money market funds.|
|Territory Breakdown||Highlights business type coverage by state along with sales rep contact information.|
Effective on January 31, 2018, The Boston Company Asset Management, LLC (TBCAM) and Standish Mellon Asset Management Company LLC (Standish) merged into Mellon Capital Management Corporation (Mellon Capital), which immediately changed its name to BNY Mellon Asset Management North America Corporation.Investment advisory services in North America are provided through two different investment advisers registered with the Securities and Exchange Commission (SEC), using the brand Insight Investment: Insight North America LLC (INA) and Insight Investment International Limited (IIIL). The North American investment advisers are associated with other global investment managers that also (individually and collectively) use the corporate brand Insight Investment and may be referred to as ‘Insight’ or ‘Insight Investment’.
BNY Mellon Fixed Income is a division of MBSC Securities Corporation. BNY Mellon Cash Investment Strategies is a division of The Dreyfus Corporation. The Dreyfus Corporation, Insight, BNY Mellon Asset Management North America Corporation and MBSC Securities Corporation are affiliated with The Bank of New York Mellon Corporation. ©2018 MBSC Securities Corporation, distributor, 225 Liberty Street, 19th Fl., New York, NY 10281.