SNL Financial M&A Bank Symposium

October 1-3, 2013
New York, New York

On October 1-3, S&C partnered with SNL Financial on the 2013 Bank M&A Symposium, held in New York City. For five consecutive years, S&C and SNL Financial have collaborated on the event, which brings the sector’s most influential executives together with the industry’s top dealmakers to examine expectations and prospects for transactions in the sector. Messrs. Eitel and Menting co-chaired this year’s program. Mr. Cohen gave the keynote address, and Mr. Trevino was a featured speaker.

In his keynote, Mr. Cohen spoke about recent regulatory developments, effects of a longer application process and the outlook for bank M&A. He discussed how the regulatory environment has created a climate of uncertainty and unpredictability, which has held back bank M&A activity. Mr. Cohen also noted that the regulations related to Dodd-Frank will continue to result in a safer and sounder banking system, but also create an industry with lower returns as new regulations will reduce revenues and raise costs.

As part of this year’s symposium, SNL held a pre-conference workshop in which Messrs. Eitel and Menting led a workshop on “Deal Design, Regulatory and Legal Perspective on Business Line Acquisitions” that analyzed deal structure and important legal considerations. Also at the symposium, Mr. Menting moderated the panel, “Market Trends, Themes and Outlook,” which addressed strategies for growth in bank M&A, best practices for getting a deal done, recent valuation multiples and pricing, and the industry outlook for 2014. Mr. Eitel moderated the panel, “Practitioners’ Perspectives on Deal Execution,” which addressed how active consolidators are approaching M&A and getting deals done in today’s environment, as well as strategies for positioning a bank as the buyer/seller of choice and best practices in deal design, execution and integration. Mr. Trevino spoke on the panel, “Compensation and Corporate Governance Considerations,” in which the group discussed executive compensation considerations, retention packages and employment contract renegotiations, as well as change in control issues with TARP and best practices in board composition.