8:30 a.m. Pacific standard time
Market trends: 2015 Outlook IPO and M&A
M&A is back — optimism abounds in transactions
The room was buzzing with optimism in the energetic “Market trends: 2015 Outlook IPO and M&A” panel. A packed house of entrepreneurs attended the session, with an additional 2,100 people watching remotely via webcast.
Session host Mark Jeffries opened the panel by declaring that “US exchanges are currently poised to break 300 IPOs — and that was a record last seen in 2000.”
quot;It’s been an amazing year for IPOs, and we think it’s going to continue,” added David Ethridge of the NYSE. He noted that the US is the IPO destination of choice for global companies because “it’s the deepest market you can find — we’ve got the most comparable companies and an amazing group of investors that know how to pay for growth.”
M&A has seen a record-breaking activity as well, according to Jeffrey Liu, EY Global Technology Leader, Transaction Advisory Services.
"It’s fair to say that M&A is back,” Liu said, adding that 80% of multinational executives anticipate some form of M&A in the next 12 months. “Given the cycle time of how quickly value can be created or destroyed in industries these days, there’s almost a strategic imperative [to consider M&A].”
Panelists were just as confident when it came to discussing 2015. Liu predicted a 20%–30% increase in M&A deal volumes next year, and Brian Reilly of Barclays cautioned that the Federal Reserve is expected to raise interest rates in mid-2015, which will cause some volatility in the market may slow IPO growth.
quot;Volatility is not the friend of IPOs,” Reilly warned. “It’s been why [the IPO market has] been so strong over the past few years, because the market has been calm.”
Author, Communication Consultant
Author, keynote speaker and former Merrill Lynch stockbroker, Mark Jeffries has become a trusted adviser and communications consultant to some of the world’s largest and most successful corporations, agencies and partnerships. Dividing his time mostly between the United States, Canada and Europe, Mark is invited to deliver his highly effective keynotes on business communication to audiences across many industries. His speeches are relevant, entertaining and filled with instantly usable takeaway ideas. Mark has also mastered a fascinating niche — moderating major corporate events. Mark has become the go-to person for facilitating, moderating and emceeing multinational events for major organizations around the world. Mark has published two books: What’s up with your Handshake? and The Art of Business Seduction and has recently launched an innovative virtual training course entitled “The Art of Business Influence, Selling Without Selling.” Discussing the power of business influence, networking 2.0 and soft skills, Mark regularly appears as an expert guest on NBC’s Today Show, Fox Business, CNBC and BBC News and writes for The Huffington Post.
Head of Capital Markets
David Ethridge is an SVP and Head of Capital Markets at NYSE. Prior to joining NYSE, David spent over 20 years in global banking developing strategic and capital-raising plans for clients. During 10 years at Cowen and Company, David helped lead the company’s IPO, manage the firm’s private placements group and start financial sponsor coverage. David also spent 10 years in ECM and banking at JP Morgan and Bank of America. David graduated from Davidson College with a BA in Economics. He followed his undergraduate studies with a year as a Thomas J. Watson Fellow and then an MBA from Harvard Business School.
Jason Giordano is a Managing Director in the Private Equity Group at Blackstone. Since joining Blackstone in 2006, Mr. Giordano has been involved in the evaluation and execution of various investments in the consumer products, education, paper and packaging, and chemicals sectors, including investments in Pinnacle Foods, Birds Eye Foods, Wishbone, Crocs, Outerstuff, Acushnet (Titleist), Polymer Group, Fiberweb and Providencia. Before joining Blackstone, Mr. Giordano was employed by Bain Capital and Goldman, Sachs & Co. in various roles. Mr. Giordano received an AB from Dartmouth College and an MBA from Harvard Business School. He serves on the Board of Directors of Pinnacle Foods, Outerstuff, Polymer Group and HealthMarkets.
Principal, Ernst & Young LLP
EY Global Technology Leader, Transaction Advisory Services
Jeff Liu is the EY Global Technology Sector Head for Transaction Advisory Services. Jeff has served as a senior advisor to technology clients for almost 24 years, as a consultant at McKinsey & Company, and as a Technology group head at Deutsche Bank and Bank of America. He graduated from Harvard College and has an MBA and a JD from Stanford University.
Managing Director - Global Head of Equity Capital Markets
Brian M. Reilly is a managing director and Global Head of Equity Capital Markets at Barclays in New York. Mr. Reilly has over 20 years of experience executing over 100 capital markets and mergers and acquisitions transactions. Previously, he was Head of Asset Management within Investment Banking at Barclays and Head of the Communications, Media and Internet vertical within Equity Capital Markets at Lehman Brothers. He also worked as a corporate lawyer for Simpson Thacher & Bartlett in New York and as a clerk for a federal judge. Mr. Reilly earned his JD from Yale Law School and his BA from Yale University.