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Speaker Information
Eugen Doce - Housing Team: Frankfurt
School of finance and Management
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Since 2005 Mr. Doce works for the
International Advisory Services at
Frankfurt School of Finance &
Management as Project Manager. His
main tasks include the
implementation, backstopping and
controlling of housing finance
related projects in Armenia,
Georgia, Azerbaijan, Serbia, South
Africa, Namibia, Ghana and Uganda.
He is also actively involved in the
set up and management of housing
finance operations, including
implementation of minimum quality
standards for mortgage lending (IFC,
KfW and EBRD standards) and design
of training programs in the area of
housing finance. At Frankfurt School
of Finance & Management he has set
up the first “Housing Finance Summer
Academy”, a one-week training
targeting the management of
institutions involved in housing
finance.
Prior to the work at Frankfurt
School Mr. Doce has been working for
the banking sector in the Balkans
and Germany, dealing mostly with
credit processes for housing
improvement, and SME lending. He has
hands-on experience of the credit
process cycle and has successfully
managed loan portfolios. Mr. Doce
holds a Masters Degree in Business
Administration and European Studies.
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Dave A Smith - President
of Recapitalization Advisors Inc
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David A. Smith is the founder and
president of Recapitalization
Advisors, Inc. (Recap), a
Boston-based firm that recapitalizes
and preserves existing affordable
housing via innovative financial
transactions that deliver quality as
both good economics and good social
policy. With his entire 30-year
professional career focused on
affordable housing, David uniquely
combines the roles of practitioner
and theoretician, participant and
policymaker.
• Successful businessman. Recap is
the nation's foremost specialist on
the finance of existing affordable
housing, nationally recognized and
widely cited. Recap's clients
include federal and state government
agencies, non-profit and for-profit
owners and acquirers of affordable
housing.
• Transaction specialist. David has
personally completed more than 80
individual transactions involving
over 10,000 apartments with a
current value of over $400 million.
Most of these have been pathbreaking
innovations such as workout,
resyndication, and recapitalization
for preservation, prepayment, and
renewed affordability.
• Policy innovator and program
developer. Throughout his career,
David has volunteered to develop new
affordable housing tools:
legislation and financial products
such as preservation,
mark-to-market, enhanced vouchers,
and renewed affordability. During
2000 and 2001 he was a programmatic
advisor to the Millennial
Housing Commission concentrating on
LIHTC program performance and
proposals to provide relief from
contingent federal exit taxes. In
1996, he was one of ten individuals
selected by the Senate Housing
Subcommittee as a working group to
develop mark-to-market legislation
(enacted in 1998) to overhaul the
rental-debt structure of more than
4,000 HUD properties nationwide.
Later, Recap became a lead financial
restructurer, on HUD's behalf, on
more than 70 pioneer properties
going through mark-to-market. •
Program analyst and advisor. David
has been a prolific author (more
than 80 published articles former
contributing editor of Real Estate
Review, and a textbook) and
sought-after speaker or symposium
co-chair (more than 50 events) on
affordable
housing issues. Apart from
publishing Recap's occasional
electronic Web Updates, he has
testified before Congress on many
occasions, and has provided studies
to Congress, MHC, CBO, HUD, GAO,
OMB, NCSHA, FASB, and national trade
associations.
• Educator and advocate. In both
writing and speaking, David can
communicate affordable housing
concepts vividly, enthusiastically,
and memorably, making him a
sought-after teacher and advocate
for affordable housing. A 1975
Harvard graduate, for more than six
years David has taught housing
executives in a university setting,
chiefly as a Senior Research Fellow
at the University of Maryland School
of Public Affairs, as well as guest
lectures at Harvard and MIT.
• International consultant. In his
personal capacity, David is also the
founder of the Affordable Housing
Institute, which works worldwide
(outside the US) to help people
create, improve, sustain and
preserve affordable housing in their
individual countries. He has been
awarded the Lange Award by NAHRO for
his contribution to
international understanding of
housing finance and exchange of
information.
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Annik Lambert (Europe) - Secretary
General: European Mortgage
Federation.
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Annik Lambert is Secretary General
of the European Mortgage Federation,
the members of which grant 80% of
Europe’s outstanding mortgage loans.
Annik represents the interests of EU
mortgage lenders in discussions with
the European Institutions and
stakeholders in general on issues
relating to both the retail and
funding sides of the business.
Annik is a lawyer with a special
degree in Financial Law. She joined
the EMF in 1992, becoming Deputy
Secretary General in 1995 and
Secretary General in 2005. Between
1987 and 1992, Annik was the Head of
the Legal Department of a private
company. Prior to this, she worked
as a Barrister in Brussels from 1982
until 1987.
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Alex Pollock (USA) -
Resident Fellow: American Enterprise
Institute
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Alex J. Pollock has been a resident
fellow at AEI since 2004, focusing
on financial policy issues,
including government-sponsored
enterprises, retirement finance,
housing finance, corporate
governance, and accounting
standards. He has written
extensively on the housing bubble
and bust and is the author of the
one-page mortgage disclosure
proposal. Previously, he spent
thirty-five years in banking,
including twelve years as president
and chief executive officer of the
Federal Home Loan Bank of Chicago,
while also writing numerous articles
on financial systems and management.
He is a director of Allied Capital
Corporation, the Chicago Mercantile
Exchange, the Great Lakes Higher
Education Corporation, the
International Union for Housing
Finance, and chairman of the board
of the Great Books Foundation. He is
a graduate of Williams College,
University of Chicago, and Princeton
University. |
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Renu. S. Karnad (Asia) - Executive Director
: Housing Development Finance
corporation Ltd (India)
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Academic Qualification –
1984-85 : Princeton University,
Woodrow Wilson School of
International Affairs,
Parvin Fellow
1974-77 : Bachelors in Law (L.L.B),
University of Bombay
1972-74 : Masters in Economics,
Delhi School of Economics
1969-72 : Bachelor of Arts in
Economics (Hons), University of
Delhi
Number of Years of service – 30
years
Current Organisation - HDFC Ltd
Designation - Joint Managing
Director
Member of the Board of HDFC
Role & Responsibilities with the
Organisation
Renu Sud Karnad joined HDFC in 1978
and has held various
responsibilities in Mumbai and
Delhi. She started her career in the
legal and credit department at HDFC
and over the years she has assumed
the leadership of the lending
business in HDFC. Add to this that
she is the first woman to become a
member of the board of India’s
largest home loan company, when she
rose up the ranks to become its
first woman joint managing director
in 2007.
Ms Karnad oversees the lending
operations of HDFC at a pan India
level and In this capacity has
played a crucial role in HDFC’s
landmark achievement of crossing Rs.
1000 billion in home loan approvals
and disbursements in 2006. Her role
includes framing of policies and
strategies relating to mortgage
lending by HDFC, development of new
retail products and expanding the
branch network within and outside
India.
As a member of the Investment
Committee of HDFC, she is part of
the decision making process for
investments made by the corporation
in debt, equity and other related
treasury products. She plays an
active role in the development of
new asset and liability products, as
well as in the introduction of
innovative and structured products
such as mortgage-backed securities.
She also coordinates
resource-raising functions of HDFC
from domestic as well as
international markets. In this
sphere, her responsibilities include
negotiating and finalizing financing
facilities from multilateral
agencies such as the World Bank, the
Asian Development Bank etc.
Apart from being the brand guardian,
Ms Karnad is the guiding force
behind formulation of the
organization’s communication
strategy and public image. She also
oversees the development of crucial
models for service delivery
mechanisms, customer relationship
management, distribution channels
and motivating employees.
Additionally she is responsible for
liaising with the various Ministries
in the Government of India and the
State Governments on various matters
pertaining to HDFC's operations in
particular and the Housing Industry
in general, as well as coordinating
with regulators like the National
Housing Bank.
Having been a part of the real
estate and mortgage industry in
India from its nascent phase, she
has developed a rich experience and
wealth of knowledge on the subject.
She is widely consulted by the
industry on real estate matters and
in this connection has served as a
director with the Asian Real Estate
Society. She is also the Chairperson
of HDFC Property Venture, which is
the country’s first property venture
capital company and is one of the
biggest domestic real estate funds
in India.
She is a director on the board of
several Indian and multinational
companies that includes the Egyptian
Housing Finance Company, ICI
Limited, Motor Industries Company
Limited (MICO), Ascendas Pte Ltd.,
Feedback Ventures, S.A.E, Mother
Dairy Fruit and Vegetables promoted
by National Dairy Development Board,
Indraprastha Medical Corporation
Ltd. and Sparsh BPO Services
Limited. Also driving strong
synergies between the HDFC group
companies, she is a director on the
board of HDFC Bank, HDFC Asset
Management, HDFC Standard Life
Insurance, HDFC General Insurance,
Credit Information Bureau, HDFC
Realty, HDFC Property Ventures, GRUH
Finance and Home Loan Services India
Private Ltd.
As a leader, one of her core
strengths has been her humane
approach to her colleagues. Apart
from being a very empathetic and
warm person, she is also a strong
believer in the capability of her
teammates and is easily able to mix
with the younger generation, always
egging them on. One of her cherished
qualities has been the ability to
own up to a mistake - an attribute
that helps gain the confidence of
one’s team – and at the same time
give credit to her team. She is
always seen encouraging employees to
establish goals and provides them
with a free hand to plan and
execute. She also spends time with
colleagues to understand their
aspirations, problems on their job
and is willing to go out and help
them in their personal lives, which
makes a difference. She believes
that demonstration leadership is the
best way to inculcate its qualities
among the company’s managers,
especially on areas likes being fair
and just, imparting values of the
organisation, leading from the
front, standing up for colleagues,
encouraging team spirit among
others.
Social Activities
As a part of its social objectives,
HDFC has been making consistent
efforts over the years towards
economic and social upliftment of
the marginalised sections of
society. This responsibility was
embraced in its nascent years and is
ingrained in the corporate
philosophy and core values of the
corporation. HDFC's endeavor towards
this objective has since grown to
encompass a variety of initiatives
that seek to make a positive
contribution to the economic
development of our growing community
and improve the quality of life.
This is being accomplished by
adopting different structured
mechanisms, which address diverse
socially relevant issues. One of the
initiatives involves the extension
of financial support by way of grant
funding towards development
initiatives belonging to different
social sectors, such as education,
women & child welfare programmes,
causes of the disabled, vocational
training and community development
programmes among others.
Involvement in activities leading to
development and enhancement of
participation of women
HDFC has had a long-standing
partnership with NGOs such as Mobile
Crèches, Om Creations Trust, VIDYA
Integrated Development for Youth &
Adults and Charities Aid Foundation
among others towards their women and
child development programs.
Financial inclusions for making
available banking and financial
services to rural areas /
underprivileged sections
HDFC has also been actively involved
in the field of microfinance
providing financial and other
services to constituencies that are
overlooked by the traditional
banking sector. Today, a large
proportion of HDFC’s activities in
the microfinance sector are confined
to credit. . HDFC has created a
micro-finance facility to finance
small income generating activities
for Economically Weaker Section
(EWS) households . An accompanying
objective is to enhance their income
levels and gradually build up
capacities of EWS families to absorb
shelter finance from HDFC through
its Low-Income Housing product.
Activities related to banking and
financial services field
In order to build a direct
experience in savings and credit
operations at the ground level, HDFC
invested in a pioneering
Microfinance Institution set up in
1998, to offer professional services
to the low-income communities,
mostly women, formed into Self Help
Groups. The Indian Association for
Savings and Credit (IASC) is the
outcome of a seven-year association
between the Palmyrah Workers
Development Society (PWDS), a south
based NGO and HDFC, which have come
together as equity partners (50:50),
to combine community skills with
financial expertise. The IASC has
achieved a breakeven in its
operations during financial year
2002. IASC has also expanded its
outreach by opening new regional
offices in Tamil Nadu and Kerala and
is now on a transition path into
becoming a for-profit NBFC.
Any other distinctive achievements
Her long and successful spell with
the mortgage sector has also
resulted in her being elected as the
President of the International Union
for Housing Finance (IUHF) in 2006,
which is an association of housing
finance and mortgage firms from
around the world. |
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Soula Proxenos - Managing
Director : International Housing
Solutions (UK and SA)
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Soula Proxenos is Managing Director
International Housing Solutions and
Principal for MMA Financial. As
Managing Director for International
Housing Solutions—a global fund
manager providing funding for
developers and others in affordable
housing--Soula is primarily
responsible for country operations
and business development. IHS
recently had its first close on its
new fund: South African Workforce
Housing.
From 1999 to 2006, Soula was
Managing Director of Fannie Mae’s
International Housing Financial
Services. She had responsibility for
Fannie Mae’s international
consulting services and training
programs, assisting in the
development of market-based housing
finance systems in over 35
countries.
Before joining Fannie Mae, Soula was
the Director of the Council on
Financial Competition at the
Corporate Executive Board,
Washington, DC. Her book on branch
banking strategies, Next Generation
Network Management, was published by
the CEB in 1999.
Soula has more than 20 years of
financial services experience. She
has managed international marketing
and sales teams, developed strategic
alliances, and opened new markets
for the international divisions of
South African and European financial
services companies.
Ms. Proxenos received an M. B. A.
from the University of Stellenbosch,
in South Africa. |
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Andre Asselin -
Executive Director: Canada Housing
and Mortgage Corporation |
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Mr. Asselin is an executive of the
Canada Mortgage and Housing
Corporation (CMHC), Canada’s Housing
Agency and largest mortgage
insurance and securitization agency.
CMHC is $100 Billion commercial
organization, currently selling its
expertise in more than 30 countries
Mr. Asselin has studied at the
University of British Columbia and
obtained an MBA from the University
of Ottawa. He has worked at the CMHC
for 28 years in increasingly
important functions, currently as
Executive Director, CMHC
International. Prior to working with
CMHC, Mr. Asselin had practiced as a
Real Estate Appraiser and Land
Economist.
Mr. Asselin has been involved in the
development of mortgage lending
standards for Russia and leads work
focused on implementing a
comprehensive market housing
strategy for Algeria. Mr. Asselin
has also led important mortgage
financing or policy projects in
Palestine, Mali, Finland, Serbia and
Latvia. |
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