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How Financial Compliance is Transforming the Diamond Industry, brought to you by De Beers

Wednesday, June 7
5:30 pm – 8:00 pm

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Location

NYSSA Conference Center
1540 Broadway #1010,
New York, NY 10036

 

Registration Deadline

Tuesday, June 6

Fees

Members: $25
Nonmembers: $65

Sponsor

Speakers

Paul Rowley, Executive Vice President, De Beers Group Sightholder Sales
Bernard Bradley, Executive Vice Presient, De Beers Group Sightholder Sales
Feriel Zerouki, Head of Government Relations, De Beers
Howard Davies, Vice President, Commercial Development, De Beers UK

Moderator
Tony Carroll, Director, Acorus Capital

Program Overview

From the master craftsmen in the time-honoured workshops of New York to the high-tech new factories of the east, a $20bn global industry exists to transform natural rough diamonds, the hardest substance known to man, into exquisite polished gemstones.

As an industry that has traditionally been synonymous with myth, magic and mystique, the midstream diamond business has seldom sought the limelight. However, over the past few years, a quiet revolution has taken place in the way in which the leaders of this sector have transformed their businesses from traditional and often secretive family partnerships into large modern corporations, with a firm foundation of world-class corporate and financial transparency.

As a result of this transformation, the most progressive businesses in the diamond industry’s midstream, and their working capital assets, have become increasingly investible. This is not only true for the international network of banks that already provide short-term working capital funding to the industry but, increasingly, also for non-bank investors.

Over the past 18 months, state wealth funds, major pension funds and international asset managers have moved towards taking long-term exposure to working capital assets in the diamond industry’s midstream, packaged as investment-grade commercial paper. Several such vehicles have already launched, and more are in the pipeline. Leading midstream companies are now also beginning to approach the bond markets for termed finance, as part of their structured portfolio of debt.

At this briefing, De Beers, the world’s leading diamond miner, and a business with expertise across the entire diamond value chain, will give a unique insight into the forces that are shaping the modern diamond industry, including the once-in-a-lifetime prospects for demand growth that are now emerging in China and India. The briefing’s focus with be squarely on the extraordinary businesses that operate in the industry’s midstream, and the financial and ethical compliance programmes that have now opened the door for them to a much wider world of financial opportunity. The picture that emerges is of a dynamic and modern industry on the cusp on a sparkling future, which it is facing with renewed confidence.

 

Agenda

5:30-6:00: Check-In

6:00-6:05: Opening Remark

Patrick Holert, CFA, CAIA

6:05-7:35: Panel

Paul Rowley — Introduction: The Diamond Industry Today
Bernard Bradley — The Diamond Midstream
Feriel Zerouki — Managing Compliance in the Diamond Industry
Howard Davies — Transforming the Diamond Industry’s Finances

Moderator

Tony Carroll, Director, Acorus Capital

7:35-7:40: Closing Remark

Harumi Urata-Thompson, CFA

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