Carlos Stilianopoulos - Caja Madrid Carlos joined Banco Espanol de Credito (Banesto) in 1990 and was head of Eurobond trading until 1993. He then joined Santander Investment, taking responsibility for origination and primary trading, also overseeing senior funding for Banco Santander between 1993 and 1995. In 1998, he joined Caja Madrid as head of origination and syndication, responsible for all bond, loan and equity origination and syndication for the bank. Since November 2000, he has been head

The main theme in the covered bond market of 2006 has been the addition of new jurisdictions as fresh legislation is passed. Most notably, this included the much-anticipated and successful opening of the US covered bond market courtesy of Washington Mutual in a move widely expected to open the floodgates for more US mortgage lenders looking to latch onto the coattails of this success. The implications of this development could eventually be far reaching for traditional European issuers of covere

IFR: It looks as if it is going to be another record year for jumbo covered bond issuance and that this is a trend likely to continue in the future. How will covered bond issuers reach out to new investors in this environment? Carlos Stilianapoulos (Caja Madrid): I think there are two main ways of reaching out to new investors. One is through roadshows and opening new markets, which is a strategy that many borrowers are already undertaking. This is especially true of the Asian region, which is p