*Subject to change* FRIDAY, OCTOBER 12 7:30 am 8:25 am REGISTRATION AND REFRESHMENTS 8:25 am 8:30 am WELCOME Meeting Host: Lisa Oake, Chief Executive Officer of Oake Media, former CNBC Anchor Tim Adams, President and Chief Executive Officer, IIF 8:30 am - 9:00 am IN CONVERSATION Olaf Scholz, Federal Minister of Finance, Germany Axel A. Weber, Chairman of the Board of Directors, UBS Group AG; Chairman, IIF 9:00 am 9:45 am VIEWS FROM THE C-SUITE: GLOBAL OUTLOOK The panelists will discuss the economic and policy outlook and key risks for Asia and the global economy over the next year and its implications for financial markets and fund flows, as well as, the outlook for emerging market economies and the implications of structural economic challenges. In addition, they will focus on the impact of new technologies on the industry business model, and the growing role of sustainable investment strategies. Ali Ahmed Al Kuwari, Group Chief Executive Officer, Qatar National Bank Martin Gilbert, Chief Executive, Standard Life Aberdeen plc Jean Lemierre, Chairman of the Board, BNP Paribas Daniel Pinto, Co-President and Chief Operating Officer, JPMorgan Chase & Co. Axel A. Weber, Chairman of the Board of Directors, UBS Group AG; Chairman, IIF (moderator)
9:45 am 10:30 am GLOBAL ECONOMY AND MARKETS OUTLOOK Recent months have taken the discussion of the global economy increasingly away from synchronized growth in the direction of desynchronization. This session will discuss this phenomenon, against the backdrop of weaker indicators in Europe, increasing market turbulence in emerging markets, and potential for more trade tensions looking forward. This panel will debate the global growth picture, risks and potential for policy makers to help bolster and smooth the outlook. Robin Brooks, Managing Director and Chief Economist, IIF (moderator) Joyce Chang, Global Head of Research, J.P. Morgan s Corporate & Investment Bank Joachim Fels, Managing Director and Global Economic Advisor, PIMCO Janet Henry, Group Chief Economist, HSBC Holdings plc Virginie Maisonneuve, Chief Investment Officer, Eastspring Investments Michala Marcussen, Group Chief Economist and Head of Economic and Sector Research, Société Générale 10:30 am 10:50 am IN CONVERSATION H.E. Tharman Shanmugaratnam, Deputy Prime Minister and Coordinating Minister for Economic and Social Policies, Singapore Cabinet Tim Adams, President and Chief Executive Officer IIF 10:50 am 11:30 am EMINENT PERSONS GROUP ON GLOBAL FINANCIAL GOVERNANCE: DEVELOPMENT PANEL Sean Klimczak, Global Head of Infrastructure, Blackstone (moderator) Nora Lustig, Samuel Z. Stone Professor of Latin American Economics and Director of the Commitment to Equity Institute (CEQ), Tulane University Ngozi Okonjo-Iweala, Senior Advisor, Lazard Frères Nicholas Stern, Chair, Grantham Research University; IG Patel Professor of Economics and Government, The London School of Economics and Political Science 11:30 am 12:30 pm EMINENT PERSONS GROUP ON GLOBAL FINANCIAL GOVERNANCE: FINANCE PANEL Jacob Frenkel, Chairman, JPMorgan Chase International (moderator) Takatoshi Ito, Professor, International and Public Affairs, Columbia University John B. Taylor, Mary and Robert Raymond Professor of Economics, Stanford University; Senior Fellow in Economics, Hoover Institute, Stanford Institute for Economic Policy Research Andrés Velasco, Professor, Professional Practice, Faculty of International and Public Affairs, Columbia University
12:30 pm 1:55 pm LUNCH CONVERSATION: GLOBAL OUTLOOK-CRITICAL TRENDS AND CHALLENGES CONFRONTING TODAY S POLICYMAKERS Today it seems as if many countries around the globe are suffering from policy uncertainty. Geopolitics, burgeoning trade wars, and a rising populism are just some of the concerns that could threaten to disrupt the current arc of global growth. These panelists will offer their insights into how policymakers should be thinking about the challenges they re confronting today and what they should be preparing for a vis-à-vis challenges down the road. Tim Adams, President and Chief Executive Officer, IIF (moderator) Stephanie Flanders, Senior Executive Editor for Economics, Bloomberg News; Head, Bloomberg Economics Martin Wolf, Associate Editor and Chief Economics Commentator, Financial Times, London 2:00 pm 2:45 pm GLOBAL FINANCIAL REGULATION: AVOIDING FRAGMENTATION, ASSESSING IMPACT AND ADDRESSING NEW CHALLENGES This panel will analyze the evolution of the global financial regulatory agenda, taking stock on the accomplishment of G20 policy goals and emerging new policy challenges and priorities. What regulatory priorities remain to be achieved? What emerging risks need to be addressed and is the regulatory framework suited for them? Have we achieved a full understanding of regulatory impact on the economy and potential unintended consequences? Dietrich Domanski, Secretary General, Financial Stability Board Hiro Hayasaki, Counsellor on Global Strategy to President and the Board of Directors, The Norinchukin Bank Group Ryozo Himino, Vice Minister, International Affairs, Financial Services Agency (JFSA) Thomas B. Leonardi, Executive Vice President, Government Affairs, Public Policy and Communications, AIG Andrés Portilla, Managing Director, Regulatory Affairs, IIF (moderator) José Viñals, Group Chairman, Standard Chartered Plc
2:45 pm 3:30 pm G3 MONETARY POLICY: WHERE ARE WE ON THE PATH TO NORMALIZATION, AND WHAT ARE THE CHALLENGES? The Federal Reserve is well on the path to normalization, having now hiked rates six times and continuing to pursue balance sheet roll-off. At the same time, market volatility has picked up substantially, not least in emerging markets where there seems to be growing fallout from the move to higher global interest rates. This panel will discuss the outlook for further policy normalization, considering also the fact that underlying inflation in the Euro zone and Japan remains very low (and certainly below ECB and BoJ inflation forecasts). Lorenzo Bini Smaghi, Chairman of the Board, Société Générale Howard Davies, Chairman, Royal Bank of Scotland (moderator) Jacob Frenkel, Chairman, JPMorgan Chase International Randall Kroszner, Norman R. Bobins Professor of Economics, University of Chicago s Booth School of Business Catherine L. Mann, Managing Director and Global Chief Economist, Citi Sayuri Shirai, Professor, Keio University; Visiting Scholar, Asian Development Bank Institute 3:30 pm 4:15 pm VIEWS FROM THE C-SUITE: ASIA OUTLOOK This session provides the perspectives of senior financial executives operating in Asia. The panelists will discuss the challenges and opportunities amid the Federal Reserve increase in rates, trade uncertainty, China s Belt & Road initiative, regional cooperation, and rise of financial technology. Samir Assaf, Chief Executive, Global Banking and Markets, HSBC Datuk Abdul Farid Alias, Group President and Chief Executive Officer, Maybank Shri Rajnish Kumar, Chairman, State Bank of India Takehiko Nakao, President and Chairperson, Board of Directors, Asian Development Bank Chartsiri Sophonpanich, President, Bangkok Bank
4:15 pm 5:00 pm CAPITAL FLOWS TO EMERGING MARKETS: RISKS AND OPPORTUNITIES With the U.S. Federal Reserve continuing to tighten monetary policy and global trade tensions on the rise, the outlook for capital flows to EM has become significantly more uncertain. This session will look at emerging markets vulnerabilities and risks ahead, but also at opportunities including moves to open China s financial markets and financial market deepening, particularly in EM Asia. Claire Dissaux, Head of Global Economics and Strategy, Managing Director, Millennium Global Rob Drijkoningen, Managing Director, Co-Head of the Emerging Markets Debt team and Senior Portfolio Manager, Neuberger Berman Sonja Gibbs, Senior Director, Global Capital Markets, IIF (moderator) Scott Grimberg, Portfolio Manager, Global Fixed Income, CalPERS Salmaan Jaffery, Chief Business Development Officer, Dubai International Financial Centre Authority Adam McCabe, Head of Asian Fixed Income, Standard Life Aberdeen plc 5:00 pm 5:45 pm GLOBAL TRADE: NAVIGATING THE TIDES OF PROTECTIONISM As trade tensions mount, the risk of retaliation, escalation and disruption to supply chains has risen. While many countries and regional groupings are looking to bolster support for a global approach to trade, the task is challenging. This panel will look at the implications of changing U.S. trade policies in Asia and around the world and assess the broader outlook for global trade. Tim Adams, President and Chief Executive Officer, IIF (moderator) Taimur Baig, Managing Director and Chief Economist, Group Research, DBS Bank Mitali Das, Deputy Division Chief, Strategy, Policy and Review Department, IMF Sergei Guriev, Chief Economist, European Bank for Reconstruction and Development Clay Lowery, Managing Director, Rock Creek Global Advisors Paul Sheard, Senior Fellow, Mossavar-Rahmani Center for Business and Government, Harvard Kennedy School
5:45 pm 6:30 pm DEBT AND DEMOGRAPHICS Almost a decade after the collapse of Lehman Brothers, global debt continues to hit new record highs. With little progress on deleveraging to date, what are the implications of rising global rates, particularly for highly leveraged borrowers? This panel will focus on the implications of adverse debt and demographic dynamics, both for policymakers and for financial markets. John Daley, Chief Executive, Grattan Institute Heather Hagerty, Research Analyst, Macro Research Team, Fixed Income Division, Fidelity Investments Richard C. Koo, Chief Economist, Nomura Research Institute James McCormack, Managing Director, Global Head of Sovereign and Supranational Ratings, Fitch Ratings Reza Moghadam, Vice Chairman, Sovereigns and the Official Institutions, Morgan Stanley Hung Tran, Executive Managing Director, Global Capital Markets, IIF (moderator) 6:30 pm 8:30 pm NETWORKING RECEPTION SATURDAY, OCTOBER 13 8:00 am 9:00 am REGISTRATION AND REFRESHMENTS Meeting Host: Lisa Oake, Chief Executive Officer of Oake Media, former CNBC Anchor 9:00 am 9:45 am VIEWS FROM THE C-SUITE: INNOVATION Digital transformation and innovation have moved to the top of the agenda in the C-Suite. Keeping pace in a data and AI driven marketplace, changing customer demands, and charting a course through partnerships and new competition are some of the challenges financial service leaders are grappling with for the future of finance. José Antonio Alvarez, Chief Executive Officer, Santander Piyush Gupta, Chief Executive Officer and Director, DBS Group Conan French, Senior Advisor, Innovation and Fintech, IIF (moderator) Jonathan Larsen, Chief Innovation Officer, Ping An Group; Chairman and Chief Executive Officer, Ping An Global Voyager Fund
9:45 am 10:30 am REGULATING DIGITAL FINANCE: ENSURING A LEVEL PLAYING FIELD With the emergence of new entrants, the traditional boundaries between sectors are fading, presenting new challenges for regulatory and supervisory frameworks that have previously been sector-specific. This can give rise to anomalies and asymmetries between competing firms with the potential for market distortions and presenting new challenges for how policymakers and officials supervise the financial system and how firms respond. Brad Carr, Senior Director, Digital Finance Regulation and Policy, IIF (moderator) José-Manuel González-Parámo, Executive Board Director, BBVA John Lee, Country Chief Executive Officer and Chief Executive Officer, Maybank Singapore Bènèdicte Nolens, Board Member, Fintech Association of Hong Kong; Advisory Council Member, Global Digital Finance, Invest Hong Kong Huw Van Steenis, Senior Adviser to the Governor, Bank of England 10:30 am 11:00 am KEYNOTE REMARKS/ IN CONVERSATION 11:00 am 11:45 am THE FUTURE OF ASIAN DIGITAL FINANCE There is a diverse and vibrant landscape of new developments in digital finance across Asia, as institutions harness new technologies and channels to transform services and reach new customer segments. It is also a region where a handful of new big tech entrants have achieved astounding growth and are demonstrating the power of scale and data in the new digital economy. This panel will explore new developments and trends across the region as we look at where the market is headed next. Loren Bushkar, Managing Director, Global Membership, IIF (moderator) Stephen Long, Managing Director, Global Banking, Moody's Investors Service Alex Manson, Head of Scventures, Standard Chartered Sopnendu Mohanty, Chief FinTech Officer, Monetary Authority of Singapore Zia Zaman, Chief Innovation Officer, Senior Vice President, MetLife Asia, Head of LumenLab, MetLife Innovation Centre
11:45 am 12:30 pm REGTECH TO RISKTECH: INNOVATIVE OPPORTUNITIES IN MANAGING RISK RegTech has presented opportunities for banks and insurers to managing their regulatory compliance requirements, but the opportunities presented by innovative technologies extend beyond compliance, with ways for firms to manage risk more effectively. These opportunities, leveraging technologies such as machine learning and distributed ledger, enable a more efficient and agile Risk Management function, as well as, to keep pace with faster channels for customer fulfillment. These technologies can also bring new challenges for organizations to overcome, and there can be substantial barriers to their effective adoption. David Gall, Group Chief Risk Officer, NAB So Lan Ip, Senior Vice President and Chief Risk Officer, Ping An Group Kevin Nixon, Global and Asia Pacific Lead, Centre for Regulatory Strategy, Deloitte (moderator) David Thomas, Group Chief Risk Officer, CIMB Group 12:30 pm 1:55 pm LUNCH CONVERSATION: OPPORTUNITIES AND CHALLENGES OF THE NEW ASIAN CENTURY Many have heralded the 21st Century as the Asian Century. The decade of 2010 to 2020 may turn out to be the best Asia has ever experienced: the middle-class population has skyrocketed; Asia s share of global GDP has been steadily increasing and the number of people living below the poverty line has fallen precipitously. Yet many are less certain about the near- and longer-term outlook, citing risks that could derail Asia s growth and stability. A shift away from globalization could jeopardize progress in Emerging Asia, given how closely many regional economies are integrated into global supply chains. Demographic headwinds such as aging populations and a shrinking labor force in some countries--including China--could place constraints on economic growth, and real security challenges remain. This session will bring together senior government officials and financial executives for a candid discussion about what they see as some of the opportunities and challenges on Asia s horizon. Tim Adams, President and Chief Executive Officer, IIF (moderator) Ravi Menon, Managing Director, Monetary Authority of Singapore Bill Winters, Group Chief Executive, Standard Chartered PLC
2:00 pm 2:45 pm FINANCING SUSTAINABLE GROWTH AND INFRASTRUCTURE IN ASIA AND BEYOND Banks and investors worldwide are looking for ways to scale up financing for greener global infrastructure, in support of the UN Sustainable Development Goals. However, the task is complex and challenging: significant barriers to mobilizing both public and private sector funding remain. This session will look at ways to overcome these barriers, as well as, initiatives underway to help bridge the sustainable infrastructure financing gap. Steve Barnett, Head of Financial Centre Development, Abu Dhabi Global Market Sonja Gibbs, Senior Director, Global Capital Markets, IIF (moderator) Jérôme Haegeli, Group Chief Economist, Swiss Re Mark Moseley, Chief Operating Officer, Global Infrastructure Hub Arun Sharma, Chief Investment Officer, Financial Institutions Group, IFC Synthya Roesly, Chairwoman and Executive Director, Indonesia Eximbank 2:45 pm 3:15 pm KEYNOTE REMARKS/ IN CONVERSATION 3:15 pm 3:45 pm KEYNOTE REMARKS/ IN CONVERSATION 3:45 pm 4:15 pm KEYNOTE REMARKS/ IN CONVERSATION 4:15 pm 5:00 pm CLOSING RECEPTION