An outstanding opportunity to open doors to new business across Europe.
Gideon Nell
Insight Investment Management Ltd
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Conference programme
For a full run down of the many sessions which will take place at Victoria Jungfrau, please read the Full Conference Programme below:
View the 2009 Conference Programme
If you would like to contribute or have any specific questions on 2010 conference sessions then please email the Conference Manager, Victoria Coles who would be delighted to hear from you.
For more information, read the 2008 Event Review, which took place at the Victoria-Jungfrau, Interlaken Switzerland.
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Opening Address 2010
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| The Global Economic Outlook |
| Dr. Klaus W. Wellershoff, CEO Wellershoff & Partners Ltd, Zurich |
Dr. Wellershoff is CEO of Wellershoff & Partners Ltd, an international consultancy specializing in macroeconomic and financial research.
Until spring 2009 Dr Wellershoff has had a long-standing career with UBS serving as its Chief Economist for 12 years. During the last six years with UBS he has also held the position as Global Head of Wealth Management Research and Chairman of the Investment Committee of its wealth management business. From 2006 until 2009 he additionally served as a member of the Group Managing Board of UBS.
He started his career with an apprenticeship with Sal. Oppenheim jr. & Cie. in Cologne. Thereafter, he graduated from the University of St. Gall with a major in economics and business administration. During his PhD studies at the University of St. Gall, he was invited by the Department of Economics at Harvard University, as a visiting fellow.
Dr Wellershoff is Member of the Board of Schindler Holding AG, the Institute of Economics at the University of St. Gallen, and the board of trustees of the World Demographic Association. |
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Highlights from Past Conference Programmes
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Opening Address
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| Opening keynote |
| David Bodanis |
David Bodanis is one of the world's top futurists. After a distinguished early career at Oxford, where he lectured on geopolitical trends, David worked for Shell's renowned scenario unit on the impact of technology on economic and social developments. Whether exploring past or future, historical breakthroughs or future possibilities; David has a rare gift for turning complex subjects into compelling stories.
In the business arena, David adapts traditional forecasting techniques to fast-changing industries. He advises companies and government agencies from BMW to Microsoft and the People's Republic of China. He has also worked with the Director of the World Economic Forum on designing the programme for Davos.
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The Global Economic Picture
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| Middle keynote |
| Prof. Norbert Walter, Chief Economist of Deutsche Bank Group and Head of Deutsche Bank Research |
Current green shoots on stock markets and some positive growth figures – especially in Asia – bring new hope to investors that the global recession has ended. However, the picture remains opaque for industrial economies. Whereas stock markets and production indicate a bottoming out, increasing unemployment rates and rising insolvencies are still drawing a dark picture.
To ensure sustainable future growth rates, world politics – especially in the G-20 – will have to reform the financial architecture and prevent relapses into protectionism. Cooperation in multilateral organisations now is a must.
The world after the crisis will be of different design: first, emerging markets, mostly in Asia, will grow faster than the rest and gain economic weight considerably. Second, the US president and administration must take a bold lead in multilateral negotiations in financial markets and environmental reform. The US will make a big effort to take a lead in the energy market by investing into new technologies. Europe will only remain competitive if governments and voters agree on fundamental social reforms that allow much higher participation rates in order to compensate for ageing and shrinking populations.
Norbert Walter (born in 1944) has been Chief Economist of Deutsche Bank Group since 1992. In 1968 he graduated in economics from Johann Wolfgang Goethe University in Frankfurt am Main and he also completed his doctorate there in 1971. He was employed at Frankfurt’s Institut für Kapitalmarktforschung from 1968 onwards but left in 1971 to join the Institute for World Economics in Kiel, where he subsequently became a professor and director in 1978. In 1987 he joined Deutsche Bank Group as Director of the Economics Department, Deutsche Bank Research. From 2000 to 2002 he was also a member of the Committee of Wise Men on the Regulation of European Securities Markets at the European Commission in Brussels. Since 2007 Norbert Walter has also been a member of the Business and Industry Advisory Committee of the OECD (BIAC).
As a chief economist Norbert Walter loves debate, and for the many people who see him in the evening news bulletins he is - as he says himself - like a cup of espresso: small, dark and strong.
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China in the global financial crisis: great opportunity for investors?
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| Conference session |
| Dr. Daniel V. Christen, Member of the Board of Directors of the Swiss-Chinese Chamber of Commerce & Past-Chairman Swiss-Chinese Chamber of Commerce Geneva |
As a result of 30 years of reform and opening-up, China’s economy has been increasingly integrated into the global economy, which made it more exposed and vulnerable to the potential risks of world economic and financial turbulences. The ongoing financial crisis, although originating in the United States, has had a clear impact on China.
The Chinese government has promptly taken an array of effective measures, aiming at providing relief, stimulating domestic demand, stabilizing trade and investment, facilitating industrial restructuring and technical innovation. The total stimulus package of the central government amounted to-date to approx. USD580 billion.
But, what does all this mean in real terms when it comes to investing in China? The session will look at China’s economic pedigree compared to that of other emerging markets, and at the plan behind China’s impressive development. After a critical SWOT-assessment of China, recommendations for a suitable approach will also be presented.
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Applied Client Economics: measurable return with the right service proposition
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| Conference session |
| Tilmann F. Spohr, Chief Client Officer & Managing Director, Bank Sarasin & Cie (Zurich) |
The current economic downturn drives Financial Institutions into financial situations they have never faced before, next to an enormous loss of reputation and trust of their clients. In this session Tilmann Sphor will address the questions of,
• Which is the most adequate response to this malaise?
• Which strategic steps will guarantee business success? - And, give a competitive advantage.
Tilmann will explain how a systematic Client Management approach best and most effectively drives revenue and asset growth, is cost effective and has very low risk whilst delivering great return and rebuilds the reputation.
Tilmann will also look at the economic rational behind satisfied clients, the driving initiatives, the concrete actions that will be highly effective and will increase client satisfaction and how these can make a “measurable” impact for service and advice in (Private) Banking (the "Service Proposition").
Tilmann will share his "Golden Rules" of Advice and highlight his experiences with a number of Client Management approaches and measures, including the systematic Client Advisory approach and delivering a solution to the client as opposed to just selling a financial product. Tilmann will finish with some concrete measures to be taken back home and start working on tomorrow.
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The importance of due diligence: case study on Madoff
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| Conference session |
| Frank Casey, President, Fortune Asset Management (USA) |
Frank Casey, President of Fortune Group, USA was named in the congressional hearings by Harry Markopoulos as one of his Team of investment professionals that alerted the SEC to a suspected massive fraud at Madoff over many years.
Frank will discuss the difficulties he and his team faced trying to get their suspicions heard, he will highlight the red flags that alerted him and his team to the fraud 10-years ago as well as examining standard due diligence criteria that should have warned industry analysts to avoid potential dangers.
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The next chapter in banking regulation in Europe: past, present and what the future holds
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| Conference session |
| Dr Martin Maurer, Secretary General, Association of Foreign Banks in Switzerland |
| Turner Review, Larosière report, IMF studies, Financial Stability Forum documents, CEBS working papers – there is a wealth of analyses and reports of how to mend the regulatory framework after the financial meltdown. The past seem to be fairly well understood, at least the failures of the existing regulatory framework have been carefully studied. At present extensions and revision of the regulatory framework are proposed - despite the quite voluminous existing prescriptions. But there are some aspects missing, which may determine what the future holds. The failure of the institutional set up is largely ignored. Moreover, the future may require a different set-up that just more-of-the-same. |
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Banking secrecy in Europe: good, bad or ugly?
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| Conference session |
| Dr Martin Maurer, Secretary General, Association of Foreign Banks in Switzerland |
| Banking secrecy is widely attacked, although most OECD countries do have a banking secrecy law. Some countries value the privacy concept which lies at the heart of “banking secrecy” higher than transparency. This is neither bad nor ugly. The separation of privacy from the tax aspect may give rise to a “good” banking secrecy. Switzerland is at the tipping point – with the adherence of Switzerland to the full application of Art 26 of the OECD Tax Convention, the tax issue is further de-linked from protection of privacy. Contrary to the popular notion that privacy is eroded, this is a further step in assuring to protect personal information. Looking at trends we may soon be confronted with countries pursuing the road to tax compliance with privacy and transparent jurisdiction with secrecy features due to lacking or missing KYC rules. |
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The ongoing impact of the credit crunch in Europe: next steps & moving forward
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| Panel session |
| Jörgen Hoolme, Michel Arni, Hans-Georg Basilio & Michael Pechner |
A session looking at issues such as,
- how to increase confidence in the banking/investment sector
- ways to keep clients investing, improve investment flows
- keeping clients money safe
- panel members industry forecast for what lies ahead, and the next steps on moving forward
Chairman: Jörgen Hoolme, Director of Private Banking, Dresdner Bank Luxembourg S.A.
Panellists: Michel Arni, Chairman, Valartis Wealth Management
Hans-Georg Basilio, Wertpapierexperte, HypoVereinsbank AG
Michael Pechner, Director, Head of Transaction Banking Sales, Fortis Bank NV
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Advising clients on social investing
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| Conference session |
| Dr Maximilian Martin, Senior Partner and Chief Strategist, IJ Partners, Geneva |
A new generation of entrepreneurs is launching sustainable and profitable ventures across a variety of regions and sectors. From an investor's perspective, this opens up exciting new possibilities. But despite the momentum, real barriers remain. What are the challenges that practitioners face in realizing impact investing objectives? And where are the emerging opportunities?
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