Calyon arranged in Milan three conferences dealing with the economic and credit outlook for 2009:

• “Economic Outlook ’09” held on March 19th, 2009 at the Hotel Park Hyatt and on March 20th, 2009 at the Hotel Four seasons. The guest speaker was Nouriel Roubini, Professor of Economics and International Business at the New York University’s Stern School of Business and Chairman of RGE Monitor.
• “Credit Outlook ’09” held on March 16th, 2009 at the Hotel Park Hyatt. The guest speakers were Edward I. Altman, Max L.Heine Professor of Finance at the New York University’s Stern School of Business and Jean-François Paren, Head of Credit Research at Calyon.

The conferences attracted over 500 participants representing 256 Italian clients. The formats adopted were:

• One to ones with core issuers,
• one to ones with core investors, 
• two breakfast presentations for the real money community,
• two corporate clients events jointly arranged with Cariparma and Friuladria.