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Analyzing CLOs in 2015: Regulatory and Structural Considerations

Speaker(s): David Vener, Meredith Coffey, Neil J. Weidner, Wynne Comer
Recorded on: Jan. 23, 2015
PLI Program #: 133518

Neil Weidner’s practice is concentrated in the areas of securitization, structured finance, and derivative financial products. Neil represents underwriters, issuers, institutional investors, collateral managers, and sponsors in a wide range of matters involving the securitization or re-packaging of traditional and non-traditional assets. Neil has extensive experience using “cash flow,” “market value,” and hybrid structures, and is recognized as a leading practitioners in the CLO 2.0 market.

In addition, Neil represents issuers, sponsors, derivatives dealers, and end users in a broad range of matters, including structured swaps, total return instruments, credit derivatives and investment contracts, and other types of structured products.

Neil is a frequent commentator on industry issues, and has been recognized for excellence in “Structured Finance” by the elite “Leading Lawyers” list of the Legal 500 US.  He has authored or co-authored numerous comment letters, articles, and memoranda on regulatory and securities law matters, including the Dodd-Frank Act and the Volcker Rule.  In addition, Neil provided testimony before the House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises.  The hearing, entitled “The Dodd-Frank Act’s Impact on the Asset-Backed Securities,” focused on the impact of aspects of the Dodd-Frank Act, including the Volcker Rule, on CLOs.

He earned his J.D., cum laude, from Syracuse University College of Law, where he was Lead Articles Editor of the Syracuse Journal of International Law & Commerce. He received a B.A., magna cum laude, from Manhattan College, where he was elected to Phi Beta Kappa.

Neil is admitted to practice in the State of New York and before the U.S. District Court for the Southern District of New York. He is a member of the New York State and American Bar Associations.

David Vener is a Director on the Credit Structuring desk at BNP Paribas. Based in New York, he focuses on the CLO Market and its related products.

David started his career at BNP Paribas in 2006 on the Structured Credit Sales team, focused primarily on corporate synthetic CDOs.

David holds a Ph.D. in Applied Mathematics from the Massachusetts Institute of Technology and a BS in Mathematics and Physics from Georgia Tech.

Wynne Comer

Bank of America Merrill Lynch

Managing Director

Co-Head of CLO Origination / Head of CLO Structuring

Wynne Comer is Co-Head of US CLO origination and Head of CLO structuring at Bank of America Merrill Lynch.  Ms. Comer joined Bank of America in 2007 after 6 years in Citigroup’s CDO group focusing on broadly syndicated and middle market CLOs and CDOs of alternative asset classes such as project finance and emerging market securities.  Prior to the CDO group, Wynne was a member of Citigroup’s Global Structured Bonds team, specializing in the securitization of tobacco settlement revenues, stranded assets and whole businesses. 

Wynne started her career in project finance, spending 3 years in Tokyo at a predecessor firm to Bank of Tokyo Mitsubishi, and then at Salomon Smith Barney in New York. 

She earned an AB in Economics from Cornell University and an MBA from the Amos Tuck School of Business at Dartmouth College.  

Meredith Coffey is the Executive Vice President of the Loan Syndications and Trading Association (LSTA), and runs its Research Department. Ms. Coffey co-heads the LSTA’s regulatory and CLO efforts, which help facilitate continued availability of credit and the efficiency of the loan market. In addition, Ms. Coffey heads a team of analysts that are responsible for analyzing current and anticipated loan market developments, helping the LSTA build strategy and improve market efficiency, and providing commentary through weekly newsletters, periodic conferences and webcasts. Ms. Coffey and the analyst team also engage market participants, press and regulators on issues and developments in the global loan market.  Ms. Coffey has published analysis on the syndicated loan market in numerous books and periodicals, presents frequently, and has testified before Congress on issues pertaining to the loan and CLO markets. Prior to joining the LSTA, Ms. Coffey was Senior Vice President and Director of Analysis focusing on the loan and adjacent markets for Thomson Reuters LPC, working in and running loan research for 15 years. Ms. Coffey has a B.A. in Economics from Swarthmore College and a graduate degree in Economics from New York University.