Our History
An Introduction to AMERICATALYST, The Event, by Toni Moss, CEO, AmeriCatalyst LLC
To understand AMERICATALYST events, it’s helpful to know a bit about our history. The precursor to AmeriCatalyst LLC, established in 2010 in Austin, Texas is the Amsterdam-based EuroCatalyst BV, established in 2000. Both firms specialize in market positioning and business development for companies operating or investing in the housing ecosphere. As a veteran executive in North American and European mortgage markets, I have hands-on experience in the granular aspects of eighteen housing finance markets around the world.
From 2000 to 2009, EuroCatalyst was a leader in establishing cross-border mortgage operations throughout the EuroZone for investment banks, banks, servicers, mortgage lenders, and fintech firms. I also advised institutional investors on the underlying dynamics of each market and the related risks in mortgage-backed securities (MBS) and covered bonds. This institutional experience widened my perspective on the fragility of mortgage markets and the systemic risk posed by specific MBS and related derivatives in a global marketplace. In my work throughout Europe from 1996 to 2002, I came to believe that the forces of globalization would amplify this systemic risk, leading mortgage markets to collapse.
In 2001, I tried to convince the U.S. Federal Reserve, the IMF, the European Central Bank and the World Economic Forum to hold a summit about the potential for the implosion of mortgage markets. At that time, however, no one wanted to hear my thesis that mortgage markets were the epicenter of the global economic faultline and were likely to implode, that we would never really recover (we would only adapt) and that the backlash and aftermath would lead to nationalism around the world. After all, the party was just getting started. So in 2002, Shirley Jackson left her 20-year role as the Deputy Managing Editor at the Japan Times in Tokyo to join the executive team at EuroCatalyst, and we created that conference ourselves.
We gave the event purpose, prioritizing its content over its profit. We made it invitation-only, curating a powerful community of senior participants that spanned the highest levels of global industry oversight, to issuers and investors, and CEOs from all sectors of primary and secondary mortgage markets in a peer-to-peer environment. We limited participation to enhance the intimacy of collaboration. We made it interactive, giving the audience a voice synchronized with the stage. We gave it a soundtrack, using music, multimedia and art to further editorialize the sessions. We made it intellectually challenging, taking everyone out of their comfort zone to elicit a dialogue that just didn’t happen anywhere else. We made bold written predictions in our event narratives each year that, in retrospect, have been far more accurate than most economists and unparalleled in terms of accurately predicting and previewing the next big thing. And finally, we asked the experts to debate topics in the context of globalization. Why? Because the forces of globalization have created a world increasingly beyond our control and understanding. The rest, as they say, is history.
EUROCATALYST was held across Europe from 2002 to 2009. In 2005 we launched an additional event in London called EUROPESERVICING to prepare European lenders for the crisis that we knew was coming. In 2009, we brought EUROCATALYST to Austin, Texas and from 2010 onwards established the annual AMERICATALYST event. Our last event was AMERICATALYST 2020, ENTROPY: Surviving the New Abnormal. Held in Dallas, the event ended three days before Covid hit. The following year, Shirley Jackson passed away. Despite many requests for AMERICATALYST to return, truly the last thing our industry needs is yet another conference – even if ours has been considered among the best, and certainly the most influential in the industry. We’ve done that. Were I to return, it would be in an entirely different format. Our 2024 Extreme Climate Summit, “Going to Extremes,” is that evolution. I hope you’ll join me for what promises to be the most important event I’ve ever created on a topic that will define the destiny of our industry.
If you would like to learn more about our history, click on one of the links below, or click here to read “Our History” from the beginning.
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2000: EUROCATALYST BV IS ESTABLISHED IN NAARDEN VESTING, NL
By 2000, I had been living and working in The Netherlands for four years. My employer, Bouwfonds Nederlandse Gemeenten/STATER, was owned by the municipalities of the Dutch government and was acquired later that year by ABN Amro. As the Director of Corporate and Business Development, my job was to increase the value of the company…
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2001: THE TIPPING POINT
In 2001, I began to turn my accidental “research clearinghouse” into a more formal network that brought together all of the most important market players from each EU country to meet and collaborate with their counterparts. Hence the name, “EuroCatalyst”. At that time, there were 12 distinct national EU markets, each one having their own…
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2002: EUROCATALYST LAUNCHES ITS SIGNATURE EVENT IN MADRID
I decided to hold the first event in Madrid because I thought that if mortgage markets were to implode, Spain would get hit the worst. At that time, Spain had experienced the most dramatic rise in house prices due to a phenomenon that no one wanted to discuss publicly: In the buildup to the launch…
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2003: NATIONAL MARKET ROAD SHOWS + EUROCATALYST 2003 | LISBON
In 2003 we once again undertook a series of national market “road shows” throughout the year to promote the event and discuss its upcoming program topics. EUROCATALYST 2003 was held in Lisbon, Portugal, to highlight the fact that Portugal had the highest volume of mortgage-backed securities issuance in Europe that year. The event theme was…
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2004: INVESTMENT FOCUS | NORDIC COVERED BONDS
By 2004, mortgage-backed securities and covered bonds were in fierce competition to attract an alpha-hungry global investor base. At the same time, national market covered bond issuers were in fierce competition with each other. In 2004, we undertook a one-year market positioning mandate for all covered bond issuers in the Nordic countries (Denmark, Sweden, Norway…
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2004: EUROCATALYST 2004 | BERLIN
EUROCATALYST 2004 was held in Berlin to draw attention to the weakened status of German banks and its implications across the EU banking sector. As the world’s third-largest economy (in terms of GDP) in 2004, the German economy continued to bear the weight of economic integration between East and West Germany. Exacerbating the burden, its…
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2005: EUROPESERVICING | AMSTERDAM
By 2005, so little attention was paid to servicing that we created a new event, EUROPESERVICING, to motivate underappreciated services and drive improvements in the sector throughout Europe. It is the first time that an event dedicated to servicing in Europe was ever held. One of the main advertisements for the event stated, “Sure, Europe…
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2005: EUROCATALYST 2005 | ROME
In 2005, EUROCATALYST was held in Rome with the support of the Italian Banking Association. The opening session, “Retail Markets at Wholesale Prices: Gauging the Impact of Globalization on Mortgage Markets” directly questioned the rationality of commoditizing high-risk mortgage assets on a global scale. In the mortgage funding session, “Securitization and Lending Anarchy”, the discussion…
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2006: EUROPESERVICING LONDON
In 2006, EUROCATALYST was not held due to my immediate concern that mortgage markets were about to blow up. I thought that all of our efforts and industry wide attention should be focused on servicing in anticipation of the collapse. This year, we placed ads in European industry publications with tongue-in-cheek advertising that said, “Who…
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2007: EUROCATALYST | MADRID
EUROCATALYST returned in 2007 to Madrid, where it all started five years earlier. The theme that year was “Quemando La Casa” (Burning Down the House). On July 29, 2007, President George W. Bush stated, “the fundamentals of our economy are strong…I’m told there is enough liquidity in the system to enable markets to correct”. In…
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2008: EUROPESERVICING LONDON
By 2008, servicing was finally sexy. While no one created any calendars of bare-chested servicing executives, services were now the first responders on the front lines of an unprecedented economic firestorm. In our event advertising, we re-purposed the EUROPESERVICING 2005 ad, “Do I Really Need to Care About Mortgage Servicing?” by scratching out the title…