Third Bridge Forum

Third Bridge Forumは、専門家と投資家がタイムリーで適切な投資トピックについて話し合うことができるオープンディスカッションのプラットフォームです。マクロ経済のトレンド、市場開拓、特定企業のイベントなどどのようなトピックであっても、弊社のチームが適切なトピックと有識者を選出し、複数のクライアントに対し対話を公開します。

クライアントは、グループカンファレンスコールの参加、過去のカンファレンスコールの記録の閲覧、アセット・クラス特定のイベントにおいて他の投資家との投資アイディアの交換を行っていただくことができます。

カンファレンスコール

弊社では常に市場の活動を追跡し、クライアントが関心を持つホットトピックのディスカッションを企画するようにしています。弊社が最も適切な話し手を特定し、弊社の専門モデレーターが1時間コールを実施(その話し手にインタビューを行う)、主要な質問についての解説・回答が得られるよう司会進行します。クライアントの方々には、コールにダイヤルインし聴講、もしくは、コールの記録をリクエストすることができます。

Ideas Dinner (アイデアズ・ディナー)

弊社のIdeas Dinnerは、クライアントの方々に他の同業者グループと情報交換をしていただける画期的な方法です。厳選されたバイサイドアナリストのグループを招待し、特定の資産クラスに注目するアイディア共有セッションを行います。これらのイベントは、投資の仮説について他の優秀な市場参加者と話し合うことのできるユニークな機会です。

Sample Conference Calls

  • UK Online Grocery Retail in 2017

    Former Main Board Director at Iceland Foods and former CEO at Aldi UK & Ireland

    Agenda

    1. Primer on the economics of online food retail in the UK
    2. Analysis of supply and demand-side drivers of profitability for online grocery retail 2017-2020
    3. Analysis of Ocado’s FY 2016 results and outlook for trading in 2017
  • Global Oil Sector Update

    Former Senior EVP, Strategies & Development, and Charmain of Petrochemicals Group at ENI

    Agenda

    1. Detailed review of supply-side dynamics shaping the market
    2. Assessment of requirements/conditions necessary for a structural rebound in oil prices
    3. Review of economics of shale/viability of shale in the current pricing environment
    4. Assessment of supply strategies of Middle East exporters (Iran, Iraq and Saudi Arabia)
    5. Outlook for oil prices in 2016-17 (opinion on price floor in the short term and ceiling in 2016)
  • The Global Macroeconomic Implications of a China Slowdown

    Former Division Chief, European Department at the International Monetary Fund

    Agenda

    1. China’s economic future 2017-2020: possible scenarios
    2. The likelihood of a financial crisis, and the conditions necessary to sharply raise the risk of a financial crisis in China
    3. Policy options available to the Chinese government to mitigate the impact of a hard landing, and an analysis of the second order implications of short-terms fixes
    4. In-depth analysis of the supply and demand-side transmission mechanisms of a Chinese economic slowdown to international markets
    5. GDP scenario analysis 2017-2020
    6. Scenario analysis for US-China relations and the macroeconomic impact on both countries
  • Global Elevator Sector

    Former Managing Director at Wittur Group Singapore

    Agenda

    1. The changing technology landscape for elevator OEMs and elevator component suppliers
    2. Update on trends and drivers in the Chinese market, discussion of risks and opportunities for OEMs and component suppliers, EBIT resilience of OEMs
    3. Strengths and weaknesses of the four major OEMs and their relative positioning for profitable growth
    4. Profitability drivers for key component suppliers, outlook into the medium term
  • Disruption in the Payments Value Chain 2017-2020

    Former CFO, Chief Commercial Officer & Chief Digital Officer at Visa Europe

    Agenda

    1. Key trends shaping competition, regulation, and disruption across the payments value chain
    2. Competitive and strategic analysis of Visa and Mastercard in the European market
    3. Mastercard VocaLink acquisition, and the significance of the deal for other market participants
    4. Discussion of emerging value creation models in fintech
    5. Outlook for the UK and European start-up ecosystem and accelerators
  • European Telecom Network Infrastructure 2017-2020

    Former CTO & Managing Director at Unitymedia GmbH and former Chief Technology Information Officer at T-Mobile Netherlands B.V

    Agenda

    1. A framework for looking at telecom and cable operator capital allocation
    2. Key themes regarding the applications driving network investment strategies of operators
    3. The logic of fixed-mobile M&A and the implications from a network perspective
    4. The value case for cable in Europe
    5. Myths vs reality for IoT applications
    6. Competitive analysis of telecom network infrastructure vendors
  • IoT-Led Disruption in the Autos Industry – Autonomous Vehicles

    Former Head of IoT & M2M Platforms at Cisco

    Agenda

    1. Review of the main disruptive technologies enabling new business models in the autos industry (ADAS, software, 5G)
    2. Timing and market impact asessment of these technologies for the auto industry
    3. Next generation in-vehicle architecture and launch by geography: how to balance between velocity of features and functionalities and safety
    4. Barriers to technology uptake (ADAS and semi/full-autonomous drive accidents)
    5. Review of the competitive landscape for security technologies for connected, software-defined, or autonomous cars
  • L Brands – Stores Operations Assessment

    Former Chief Stores Officer at L Brands Inc.

    Agenda

    1. Overview of L Brands' competitive positioning, with a focus on Victoria's Secret and Bath and Body Works
    2. Discussion on trends in same-store sales, drivers of performance declines, exposure to malls and opportunities to grow square footage without ROIC declines
    3. Opinions on the recent strategy initiatives implemented in the last 12 months with a focus on the implications of the shift towards active wear and away from swimwear
    4. Outlook for 2017 with commentary on the company's ability to adapt to changing retail conditions
  • Global Education Publishing Trends

    Former President, Higher Education Group at The McGraw-Hill Companies Inc.

    Agenda

    1. Overview of trends in the global education publishing sector
    2. Discussion on Pearson Education, McGraw-Hill and Cengage Learning and where digital courseware will lead
    3. Thoughts on the transition in the industry to digital solutions over physical textbooks and where the industry will go in 2017 and beyond
  • Frontier Communications – Revenue & Margin Driver Analysis

    Former EVP & CFO at Frontier Communications

    Agenda

    1. Overview of the wireline telecommunications market with a focus on secular declines and increasing competition
    2. Analysis of the drivers behind recent declines in revenue and EBITDA margins with commentary on gross additions and churn activity
    3. Evaluation of the company's acquisition of Verizon's wireline assets in California, Texas and Florida with commentary on potential challenges to integration or synergy realisation
    4. Outlook for H2 2017 with opinions on capital spend at Frontier may shape up
  • Panel Discussion: Neiman Marcus Group – Vendor Relationships

    Former President & COO at Coach Inc.
    Former SVP, Sales & Merchandising at Theory
    Former President at J Brand

    Agenda

    1. Discussion on how different vendors are approaching direct-to-consumer initiatives, channel mix, and subsequent implications for department stores
    2. Comparative analysis on how vendors perceive Neiman Marcus Group, Nordstrom, Saks Fifth Avenue, and others
    3. Examination of Neiman Marcus Group's relationship with brands with a particular focus on the company's ability to secure exclusivity, pass discounts back to vendors, and vendor frustrations with NMG's "see now, buy now" initiatives
    4. Outlook for 2017 and beyond with commentary on Neiman Marcus Group's value proposition in the mid to long term
  • Global Education Publishing Trends

    Former President, Higher Education Group at The McGraw-Hill Companies Inc.

    Agenda

    1. Overview of trends in the global education publishing sector
    2. Discussion on Pearson Education, McGraw-Hill and Cengage Learning and where digital courseware will lead
    3. Thoughts on the transition in the industry to digital solutions over physical textbooks and where the industry will go in 2017 and beyond
  • Frontier Communications – Revenue & Margin Driver Analysis

    Former EVP & CFO at Frontier Communications

    Agenda

    1. Overview of the wireline telecommunications market with a focus on secular declines and increasing competition
    2. Analysis of the drivers behind recent declines in revenue and EBITDA margins with commentary on gross additions and churn activity
    3. Evaluation of the company's acquisition of Verizon's wireline assets in California, Texas and Florida with commentary on potential challenges to integration or synergy realisation
    4. Outlook for H2 2017 with opinions on capital spend at Frontier may shape up
  • Online Delivery Vendor Analysis

    Current CEO at Pizza Express International

    Agenda

    1. Comparison of Deliveroo vs Just Eat; service quality, pricing, scale
    2. How the economics work for restaurants, including the infrastructure required, the necessary restructuring of restaurants, ROIC, and breakeven volume levels
    3. Discussion on the importance of scale
    4. Who is set to win the battle for branded restaurant delivery
  • Freight Forwarding Disruption

    Founder & current CEO at Freightos

    Agenda

    1. Overview of structural changes shaping the freight forwarding industry
    2. Breakdown of the competitive landscape and relative positioning of major players, such as Freightos, Flexport, Amazon, Alibaba, and large incumbents
    3. Discussion on the business models and understanding of the long-run economics of some offerings
    4. How the incumbents can adapt to the disruption and potential winners and losers
  • Panel Discussion: UK Social Care

    Current CEO at Voyage Care Ltd.
    Former Finance Director at Bupa Care Services UK

    Agenda

    1. Overview of the risks and potential outcome of current regulatory reviews
    2. Funding challenges and opportunities for growth in UK social care
    3. Potential to expand beyond elderly care to include mental health and child care
    4. Competitive analysis of the major operators such as Bupa, Barchester, FSHC and Avery
  • Stada LBO & EU Generics

    Former VP, UK, Ireland & Nordics at Stada Arzneimittel AG

    Agenda

    1. Update on the Stada sale and the strategic rationale by recent bids
    2. Competitive landscape; Stada, Teva, Sanofi
    3. Tendering dynamics across EU; pricing, process, developments
    4. Discussion on opportunities and dynamics within OTC and biosimilars
  • Sephora & Beauty Retail

    Former CEO, Italy at Sephora

    Agenda

    1. Update on structural trends driving the growth in specialist retailers such as Sephora and Ulta
    2. Strategic positioning of Coty, Estée Lauder and L’Oréal and the opportunity to roll out their own retail presence
    3. Retailer/brand buying power dynamics and growth in online
    4. Outlook of future beauty distribution networks
  • Global Iron Ore Sector Update

    Former Head of Iron Ore Assets at Glencore

    Agenda

    1. Update on market trends and drivers
    2. Assessment of the sustainability of current iron ore price levels
    3. Discussion on the competitive landscape
    4. Medium to long-term outlook on the sector
  • Global Shipping Update

    Former CEO Asia-Pacific Region at Maersk A/S

    Agenda

    1. Review of recent developments, overcapacity and lagging demand growth, and expectations on ongoing charter rates
    2. Discussion on the performance and strategies of key players, including Maersk, CMA CGM, and MSC
    3. Views on the scope for further sector consolidation, and outlook for the sector in 2016-17

Meet the Forum senior team