The State of Capital Markets | The Macro Picture

Capital Markets & forecasters are dealing with the highest level of uncertainty ever. It is not just the timing and shape of a recovery from the health crisis but also the impact that the global policy response will have on inflation, interest rates and growth.
You are invited to our call: The State of Capital Markets | The Macro Picture. We will hear from experts on the global economy, on markets and on corporate accounting data. Three perspectives on a critical forecast at a critical time.

Panelists

Daniel Klausner | Managing Director | Capital Markets Advisory Leader | PwC

Daniel leads the PWC IPO efforts in PWC’s Capital Markets Advisory practice, focusing on advising companies on equity capital alternatives,
structure of the IPO, investment bank and equity research selection, development of the equity story, preliminary independent views on
valuation, sizing, target investors, timing and the IPO/ equity raising process in general. Daniel is the CMA Leader and advises
companies as an “Independent Advisor” to provide clients with independent and objective advice on equity capital markets decisions
that are critical to navigating and positioning the company for success in the capital markets.

Prior to joining PwC, Daniel was Head of Equity Corporate Finance, Americas in Equity Capital Markets Origination at UBS Investment
Bank as an Investment Banker where he led the origination and execution of lead-managed equity products. He advised clients on
marketing/positioning, valuation, structuring, capitalization, projections, due diligence, corporate governance, timing and pricing
strategy. Daniel has advised 100+ clients on more than $150 billion of financings across a wide array of strategic financing activities
including IPOs, follow-on offerings, carve-outs, spin-offs, block-trades, equity-linked and private placements. He brings broad expertise
across a range of industries including healthcare/biotech, mining, consumer and retail, financial institutions, industrials, technology and
media.

At UBS Investment Bank, Daniel was a permanent member of the Equity Commitment Committee which approved all equity
transactions. Daniel previously worked at Morgan Stanley – as a senior member of the Corporate Finance Group in Investment
Banking advising clients on Equity, High Yield and M&A; Lehman Brothers – in Global Industries Investment Banking Coverage; and
Merrill Lynch – as an Investment Banker in Industrial Coverage.

Daniel is frequently quoted in the Wall Street Journal, Bloomberg, PitchBook, Institutional Investor and Reuters on Capital Market topics
and market activity.

Daniel holds a B.S. in Economics from The Wharton School at The University of Pennsylvania where he graduated magna cum laude
and an MBA from The Tuck School of Business at Dartmouth College.


Kelly Cheng | Managing Director | Capital Markets | Barclays Investment Bank

Kelly Cheng is a Managing Director in Barclays’ Investment Banking Division with 20 years of experience advising C-suites and boards of private and public companies on capital raising, corporate development, strategy and ESG. She has worked with companies across a broad range of industries and market cycles, raising more than $100 billion of public and private debt and equity capital across currencies.

Kelly joined Barclays from Lehman Brothers. Prior to that, she was with CM Equity Partners, L.P.’s leveraged buyout fund. In this capacity, she originated, executed and monitored private equity investments. Kelly began her career as a corporate finance analyst in J.P. Morgan’s investment banking division.

She is a member of the diversity and inclusion steering committee for NAREIT, the global representative for real estate companies and serves as a volunteer strategy consultant with the Harvard Business School Club of New York’s Community Partner’s program. Additionally, she is a past treasurer of the Association of Asian American Yale Alumni.

Kelly holds a BA in Economics and East Asian Studies with distinction from Yale University and an MBA from Harvard Business School.


Dr. Ed Yardeni | President | Yardeni Research, Inc.,

A provider of global investment strategy and asset allocation analyses and recommendations. He previously served as Chief Investment Strategist of Oak Associates, Prudential Equity Group, and Deutsche Bank’s US equities division in New York City. He was also the Chief Economist of CJ Lawrence, Prudential-Bache Securities, and EF Hutton. He taught at Columbia University’s Graduate School of Business and was an economist with the Federal Reserve Bank of New York. He also held positions at the Federal Reserve Board of Governors and the US Treasury Department in Washington, D.C.

Dr. Ed earned his PhD in economics from Yale University in 1976, having completed his doctoral dissertation under Nobel Laureate James Tobin. Previously, he received a master’s degree in international relations from Yale. He completed his undergraduate studies magna cum laude at Cornell University.

Dr. Ed is frequently quoted in the financial press, including The Wall Street Journal, the Financial Times, The New York Times, The Washington Post, and Barron’s. He was dubbed Wall Street Seer in a Barron’s cover story. He appears frequently on CNBC and Bloomberg Television. See Dr. Ed’s Media Center blog.

In 2018, Dr. Ed published Predicting the Markets: A Professional Autobiography, which is rated 4.4/5.0 on Amazon with 93 reviews. In this book, he shares his unique insights into predicting the trends and cycles in the domestic and global economies and financial markets—including stocks, bonds, commodities, and currencies—based on the first 40 years of his career on Wall Street.

In 2020, Dr. Ed published Fed Watching for Fun & Profit, which is rated 5.0/5.0 by five reviewers. In this guide, Dr. Ed, one of the world’s most experienced and widely followed “Fed watchers,” helps investors to understand the FOMC’s decision-making process, anticipate its moves, and profit from those insights. Dr. Ed is one of LinkedIn’s 2019 Top Voices in economy & finance. Institutional investors may sign-up for a complimentary trial of his research service

Moderators | Bob Gay CFA | Mark Hamzat O. Erogbogbo Chairmen The FENG Capital Markets Special Interest Group