The Finance Conference panels will include selected groups of 4 or 5 senior executives of banks/corporations who will discuss trends, issues of general interest, or controvertial topics in today's world of finance. The panels, moderated by a member of Wharton's faculty, will address particular topics within the areas of:

Accounting and Financial Reporting Panel: The Fine Line between Financial Management and Fraud
This panel will explore methods that companies have used to manage the appearance of their financial condition, both inside and outside the law. Examples include inflating revenue, disguising debt, and reporting expenses as capital expenditures.

Panelists include:
Patrick Finnegan, Senior Vice President, Moody's Investors Service
David S. Horowitz, Esquire, Assistant District Administrator, U.S. Securities and Exchange Commission
Christopher P. Johns, Senior Vice President and Controller, PG&E Corporation
Harish Raghavan, Global Head of Structured Products and Strategic Solutions Group, UBS Warburg
Gregory G. Weaver, National Managing Partner - Assurance Services, Deloitte & Touche
MODERATOR: Peggy Bishop-Lane, Director, MBA Program, Adjunct Associate Professor of Accounting, The Wharton School, University of Pennsylvania

Stock Option Accounting: The Future of Option-Based Compensation Incentives
This panel will tackle the controversial topic of stock option accounting by covering the rationale for expensing stock options and the future of option-based employee incentives.

Panelists include:
Neil Harper, Associate Principal, McKinsey & Company
Sanjiv Khattri, Assistant Treasurer, General Motors Corporation
Douglas L. Peterson, Chief Auditor, Citigroup
Jeremy Sloan, Vice President, Goldman Sachs
Gordon St. John, Principal and Benefit Consultant, Buck Consultants
MODERATOR: John E. Core, Associate Professor of Accounting, The Wharton School

Health Care Panel: Current state of the biotechnology and pharmaceutical sectors
This panel will explore current finance issues facing biotechnology and pharmaceuticals companies, focusing on potential industry consolidation opportunities.

Panelists include:
Charles V. Baltic, Managing Director, Health Care Investment Banking, Wachovia Securities
Clifford S. Cramer, Managing Director, Global Healthcare Investment Banking Group, Merrill Lynch
P. Sherrill Neff, Managing Partner, Quaker BioVentures
Jane Brennan Pritchett, Managing Director, CIBC World Markets
James S. Redpath, Director, Head of Health Care Mergers & Acquisitions for the Americas, Deutsche Bank
Eric Roberts, Managing Director and Co-Head of Global Healthcare, Lehman Brothers
MODERATOR: Sean Nicholson, Ph.D., Assistant Professor, The Wharton School

Future of Investment Banking Industry Structure: In search of the optimal business model for Investment Banking
This panel will provide a high quality debate between pure players and one-stop-shop's. After the panel, we would expect the audience to draw an informed conclusion on the importance of issues like lending capabilities or core expertise to attract investment banking business.

Panelists include:
Simon Canning, Managing Director, UBS Warburg
Tom Flanagan, Managing Director, Lehman Brothers Financial Sponsors Group
David Hartzell, Managing Director, CIBC
Coby J. Stilp, Director, Salomon Smith Barney
Parker A. Weil, Managing Director, Merrill Lynch
MODERATOR: Stephen M. Sammut, Lecturer, Department of Management, The Wharton School

Mergers, Acquisitions and Divestitures: Where are the deals? Factors affecting the 2003 Outlook.
This panel will discuss the key factors affecting decisions to pursue spin-offs, leveraged buy-outs, mergers, and other acquisitions and divestitures. Even if an organization would like to pursue a specific transaction, will current market conditions allow such a pursuit, and how are these conditions expected to change? What is the outlook for transactions in 2003?

Panelists include:
Steven J. Collins, Principal, Advent International
Drew Figdor, General Partner, Tiedemann Investment Group
Christopher Johnson, Managing Director, Leveraged Finance Group, Deutsche Bank
Tom Gallagher, Managing Director and Group Head, Defense, Aerospace & Technical Services Investment Banking, Wachovia Securities
Robert A. Newbold, Managing Principal, Graham Partners
MODERATOR: Andrew Metrick, Assistant Professor of Finance, The Wharton School

Structured Finance and Derivatives Panel: Are Structured Finance and Derivatives the future of Sales and Trading?
This panel will discuss the place of Structured Finance / Derivatives in the overall S&T Business Strategy, focusing on the characteristics, trends and drivers that might position this asset class as a core part of future growth in S&T.

Panelists include:
Michael D. Collins, Executive Director, Head of US Equity Risk Management, UBS Warburg
Dan Cummings, Managing Director, Merrill Lynch
Victor Park, Principal, Alternative Asset Investment Management
Robert W. Thompson, Director, CIBC Oppenheimer
MODERATOR: Krishna Ramaswamy, Professor of Investment Banking; Professor of Finance, The Wharton School