FT Commodities Global Summit 2015
20 - 22 April 2015 | Beau Rivage Palace, Lausanne  
Financial Times Commodities Global Summit
Lausanne, April 20 - April 22, 2015

“Navigating the ‘new normal’ in resources”

Chair: Lionel Barber, Editor, Financial Times
Co-Chair: Neil Hume, Commodities Editor, Financial Times

20th April 2015

Welcome Reception

Drinks Party (hosted by Vitol)  

21st April 2015


Opening Keynote Address and Conversation – The View from COFCO
China National Cereals, Oils and Foodstuffs Corporation (COFCO) is emerging as one of the most important players in the global agribusiness market. Through its partnership with Noble and acquisition of Nidera, COFCO is now moving on to the world stage.

Ning Gaoning, Chairman, COFCO
Conversation with Lionel Barber, Editor, Financial Times

The Global Economy and the Outlook for Commodities
Fears of secular stagnation are gripping the world economy, fuelling moments of extreme volatility. How will commodities fare in a prolonged period of weak demand and low inflation? The panel will review the outlook for the global economy in 2015. 

Martin Wolf, CBE, Associate Editor & Chief Economics Commentator, Financial Times
Spencer Dale, Group Chief Economist, BP Plc
Brett A Olsher, Chairman of Global Natural Resources, Goldman Sachs
Michael Pettis, Professor of International Finance, Guanghua School of Management, Peking University


CEO Debate: Rethinking Business Models 
What will the commodities trading industry look by the end of the decade? Will a split emerge with some traders becoming more like mini banks, offering a range of hedging and other risk management services, while other players grow their physical footprint across the supply chain? How do the leaders of these businesses view the industry and what are the key trends shaping their markets? 

Lionel Barber, Editor, Financial Times
Yusuf Alireza, Chief Executive Officer, Noble Group
Marco Dunand, Chief Executive Officer, Mercuria Group
Claude Ehlinger, Deputy Chief Executive Officer, Louis Dreyfus Commodities
Torbjörn Törnqvist, Chief Executive Officer, Gunvor Group
Jeremy Weir, Chief Executive Officer, Trafigura Pte Ltd


View from the Top  
Lionel Barber, editor of the Financial Times, interviews Mick Davis, the former chief executive of Xstrata, about his new investment vehicle X2 Resources, deal-making and fund raising and the outlook for commodity markets and the resources industry.

Mick Davis, Founding Partner, X2 Resources

Oil: The Demand Outlook  
The sharp fall in oil prices witnessed over the past year was supposed to lift demand and help to alleviate an oversupplied market. While lower oil prices have provided a shot in the arm to the global economy, demand growth remains weak. Are there reasons to expect this to change and if so when and in what parts of the world?  Or will the usual benefits of lower prices – increased household disposable income, reduced industry input costs – be offset by tepid global growth, subsidy removals and the impact of a stronger US dollar.

Neil Hume, Commodities Editor, Financial Times
Opening Remarks
Ian Taylor, President & Chief Executive Officer, Vitol
Marco Alverà, Chief Midstream Gas & Power Officer, eni spa
Ferenc Horváth, Executive Vice President, Downstream, & Member of the Executive Board, MOL Group
Paul Reed, Chief Executive Officer, BP Integrated Supply and Trading
Ian Taylor, President & Chief Executive Officer, Vitol


Commodities Trading and Regulation 
Physical commodities pose a very different set of challenges for regulators than foreign exchange and equities. As new regulatory regimes take shape in Europe and the US, they risk being covered by the same rules. What are the unintended consequences of “one size fits all” regulatory reform for commodities? How should the industry educate and inform policymakers about the impact of these new rules? 

Neil Hume, Commodities Editor, Financial Times
Opening Remarks 
Paul Reed, Chief Executive Officer, BP Integrated Supply and Trading
Samina Anwar, Global Head of the Derivatives, Execution and Clearing Group, Cargill
Matthew Chamberlain, Head of Business Development, London Metal Exchange 
Christopher Delbrück, Chief Executive Officer, E.ON Global Commodities
Thomas Erickson, Vice President and Director of Legal Affairs, Bunge Product Lines
Clare Hatcher, Partner, Clyde & Co 
Derek Sammann, Senior Managing Director, Global Head of Commodities and Options Products, CME Group

Keynote Closing Address & Conversation
Moderated by Lionel Barber, Editor, Financial Times

David MacLennan, President and Chief Executive Officer, Cargill    



Summit Dinner  
Welcome by Lionel Barber

Maarten Terlouw, Global Head Energy, Commodities & Transportation, ABN AMRO

Guest Speaker 
Dr Jeremy Leggett, Chairman, CarbonTracker & SolarAid, Founding Director, Solarcentury

22nd April 2015

Opening Keynote Address and Interview  
The former head of BP talks to Neil Hume, Commodities Editor of the Financial Times, about the forces reshaping global energy markets, the outlook for oil prices and Genel Energy, the Kurdish oil explorer he leads.

Tony Hayward, Chief Executive, Genel Energy

A new era for energy markets
As China, the engine of the oil market for the past decade, enters a less intensive stage of development, and technological advances unlock new resources in North America, has the global oil market entered a new era? Opec, led by its largest producer and effective leader Saudi Arabia, thinks so. It has refused to cut production and says it will let market forces balance supply and demand. A panel of market professionals discuss the changing energy landscape.

Anjli Raval, Oil & Gas Correspondent, Financial Times
Michael Coleman, Chief Operating Officer, RCMA Asset Management Pte Ltd
Paul Horsnell, Head of Commodities Research, Standard Chartered Bank
Jean-François Lambert, Managing Director, Global Head of Commodity & Structured Trade Finance, HSBC Bank plc
Jorge Montepeque, Global Editorial Director, Price Group, Platts
Simon Towns, Managing Director & Co-Head of Oil Trading, JP Morgan  


Sustainability: The Strategic Imperative
Although anxiety around climate issues and food security are growing, the cry for “sustainability” in commodity supply chains is regarded as a box ticking exercise by some in the sector. Uncoordinated efforts by companies are also not offering fundamental answers. However, there are some agriculture areas which seem to be making progress. The panel will discuss whether efforts in industries such as cocoa offer a way forward for other commodity sectors.

Emiko Terazono, Commodities Correspondent, Financial Times
Chris Brett, Senior Vice President, Head of Corporate Responsibility and Sustainability, Olam International
Nicko Debenham, Vice President Global Cocoa Sustainability and Managing Director of Biolands Group, Barry Callebaut AG
Suzanne Larsson, Global Head of Agri Commodities Clients, ABN AMRO
Lucas Simons, Chief Executive Officer, SCOPEinsight, NewForesight, Author Changing the food Game

The CFO Roundtable  
How are big commodities traders placed to take advantage of the dislocations created by the recent volatility in oil prices? Will they need to tap new sources of funding as they adapt their businesses to exploit the rapidly changing energy landscape? What challenges do lower commodities prices present for the industry? The chief financial officers of leading trading houses discuss these themes and other issues.

Neil Hume, Commodities Editor, Financial Times
Jeffrey Dellapina, Chief Financial Officer, Vitol
Jacques Erni, Chief Financial Officer, Gunvor
Christophe SalmonChief Financial Officer, EMEA and Chief Financial Officer elect, Trafigura Pte Ltd
Guillaume Vermersch, Group Chief Financial Officer, Mercuria

Closing Keynote Address:
It is a quarter of century since Olam started business and in that time it has grown into one of the world’s biggest traders of cocoa, coffee and edible nuts, amongst others. To close this year’s Summit Sunny Verghese, the Co-Founder & CEO of Olam, will reflect on his experiences over the 25-years and look ahead to the future, examining the forces and challenges that will shape commodities trading and the global agribusiness.

Sunny Verghese, Co-Founder, Group MD and Chief Executive Officer, Olam International

Close of Summit and Lunch