The Bellwether Series: Australia 2011

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August 23rd 2011
  • Four Seasons, Sydney

On August 23rd 2011, more than 150 Australia’s finance leaders gathered in Sydney for a timely examination of recent events in the global financial markets, and their implications for Australia and the Asia-Pacific region.

The Australia event opened with a keynote speech from Hon Penny Wong, Minister for Finance and Deregulation, Australian Government who spoke about the future for Australia’s financial sector and key policies for the year ahead. The second keynote presentation of the day was delivered by Ric Battellino, Deputy Governor, Reserve Bank of Australia, on the economic and financial conditions for Australia.

Click here to watch videos of the day's discussions. 

View photos of the event:

 

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Draft programme:

8.10am

Registration and refreshments 

 

 

 

 

9.00am 

Welcome remarks  

 

 

 

 

9.10am 

Keynote opening speech

An overview of the future of Australia's financial sector and key policies for the year ahead.

Hon Penny Wong, Minister for Finance and Deregulation, Government of Australia 

MODERATOR: Andrew Palmer, Finance Editor, The Economist 

 

 

 

 

9.40am 

Economist Group briefing: A global economic and financial outlook

2010 marked a year of broad recovery from the financial crisis. Whilst fears of a double-dip recession have receded, risks undoubtedly remain. How will growth and recovery play out in the year ahead? We examine scenarios for the year ahead, including conclusions from a recently conducted Economist Intelligence Unit survey of institutional investors sponsored by BNY Mellon.

  • What happens if China's growth slows? 
  • What will be the key drivers of global economic growth in the year ahead?
  • Is Asia on the right track towards more balanced and sustainable growth?
  • What major risks loom on the horizon?
  • What inflation trends can we expect?  

Andrew Palmer, Finance Editor, The Economist  

 

 

 

 

10.00am 

The rise of the East: Asia and the world in 2011

The global crisis has forced Asian countries to re-assess their export growth models and make structural changes to boost domestic demand. They are no longer just catching up; they are driving changes in the rest of the world. Have we reached a new chapter in the development of the global economy?  What does it mean for Australia?

  • In the year ahead, how will Asia’s participation in the global economic and financial system evolve?
  • Will Australia’s economy continue to benefit from the rebalancing of the global economy towards Asia’s emerging markets?
  • What is the future for ASX?  How can key exchanges across Asia be linked?

Tim Harcourt, Chief Economist, Austrade
Keith Pogson, Asia-Pacific Financial Services Leader , Ernst & Young
Michael Wesley, Executive Director, Lowy Institute
Jennifer Elliott, Group Managing Director, Asia-Pacific, Moody’s

MODERATOR: Tom Easton, Asia Business Editor, The Economist 

 

 

 

 

11.05am

Networking break

 

 

 

 

11.35am 

Financial innovation: the good, the bad—and the future?

The global debate on the value and costs of financial innovation continues. What counts as good and bad innovation, and what turns an innovation from one into the other?

  • Are the country' regulators doing enough to monitor and control innovation?
  • Capital controls: worrying trend or necessary evil?
  • Does innovation increase or reduce the risks of bubbles in assets like property?
  • Do financial institutions innovate for their customers or themselves?
  • Will we see financial services innovation move to emerging markets? 

Jeremy Cooper, Chairman, Retirement Income, Challenger Limited
Brian Johnson, Analyst, CLSA
Martin Fahy, Practice Leader, Asia-Pacific, The Hackett Group
Lee White, Executive General Manager, Members, The Institute of Chartered Accountants

MODERATOR: Andrew Palmer, Finance Editor, The Economist

 

 

 

 

12.40pm 

Luncheon  

 

 

 

 

2.00pm

Featured presentation by the Reserve Bank: Economic and financial conditions

Ric Battellino, Deputy Governor, Reserve Bank of Australia

MODERATOR: Tom Easton, Asia Business Editor, The Economist

 

 

 

 

2.35pm Currency markets: Hot air or impending crisis?

As increased inflows and currency appreciation persist, countries are turning to unorthodox measures to prevent their currencies from appreciating. Will beggar-thy-neighbour policies and "currency wars" be the defining trends of 2011 or can a new era of global consensus still emerge?

  • Is the rhetoric more out of hand than the reality?
  • Capital controls: worrying trend or necessary evil?
  • Will we see increasing intervention in a wider range of markets?
  • What should we expect from Asian currencies?  

Mark Delaney, Deputy Chief Executive and Chief Investment Officer, AustralianSuper
Terry Campbell, Senior Chairman, Goldman Sachs Australia and New Zealand
Michael Knox, Chief Economist and Director of Strategy, RBS Morgans
Huw McKay, Senior International Economist, Westpac

MODERATOR: Tom Easton, Asia Business Editor, The Economist 

    
3.30pm 

Networking break  

 

 

 

 

4.00pm 

The changing climate in financial markets

The debate is no longer if our climate is changing but how quickly. In the Asia-Pacific region, with its high concentration of economic activities in coastal areas, and heavy reliance on agriculture and natural resources, the economic repercussions will be far reaching for governments, companies and investors. How are the financial markets evolving to meet the risks—and capitalise on the opportunities—posed by climate change?

  • How can financial markets help to meet the economic challenges of climate change?
  • What new business opportunities are being created?
  • What can we expect from policy-makers in the year ahead?
  • How are carbon markets likely to evolve in Australia?

Russell Thomas, Chief Executive Officer & Managing Director, Financial Services Institute of Australasia
Brian Redican, Senior Economist, Macquarie 
John Connor, Chief Executive Officer, The Climate Institute
Paul Verschuer, Managing Director, Foreign Exchange, Commodities, Carbon, Energy, Equities, Westpac

MODERATOR: Robert Milliken, Australia Correspondent, The Economist 

 

 

 

 

4.50pm 

Growth and investment opportunities in Asia: The year ahead

The shift away from export driven growth in Asian economies is opening up new opportunities for investors. So too are changing consumption patterns and rapid urbanisation. This panel will examine Asia’s changing investment landscape and debate the best opportunities for investors in the year ahead.

  • Which countries and industries will offer the most exciting opportunities in the next 12 months?
  • What will be the biggest risks for investors in 2011?
  • Will Asia’s appetite for Australian investment continue to grow?

Alan Harden, Chief Executive Officer, BNY Mellon Asset Management, Asia-Pacific
Ben Ford, Senior Economist, Export Finance and Insurance Corporation
Gerard Doherty, Managing Director, Australia, Fidelity

MODERATOR: Tom Easton, Asia Business Editor, The Economist 

 

 

 

 

5.45pm

Closing summary remarks

Looking back over the day's discussion, debate and analysis, what were the key issues raised? What is the government's outlook for the future of finance for Australia?

Andrew Palmer, Finance Editor, The Economist
Tom Easton, Asia Business Editor, The Economist
Robert Milliken, Australia Correspondent, The Economist 

 

 

 

 

 6.00pm

Cocktail reception  

 

 

 

 

Hon Penny Wong, Minister for Finance and Deregulation, Government of Australia

Penny Wong was appointed Minister for Finance and Deregulation in the Gillard Labor government in September 2010. Prior to this post, Ms Wong was the Minister for Climate Change and Water from 2007 until 2010.

Ric Battellino, Deputy Governor, Reserve Bank of Australia

Ric Battellino is the Deputy Governor of the Reserve Bank of Australia and a member of the Reserve Bank Board. Prior to this he held senior positions in the Financial Markets and Economics areas of the Bank.

Andrew Palmer, Finance Editor, The Economist

Andrew Palmer has been the finance editor of The Economist since June 2009. He was previously the newspapers banking correspondent; in this role he authored two special reports on international banking.

Tom Easton, Asia Business Editor, The Economist

Thomas Easton is an award winning journalist who has been the Asia Business Editor of the Economist since 2006. Previously, he was the Economist's New York Bureau Chief and a Senior Editor at Forbes.

Robert Milliken, Australia Correspondent, The Economist

Robert Milliken is the Sydney-based Australia correspondent for The Economist newspaper and Economist.com. He writes on Australian politics, business and foreign affairs, and is widely travelled in Australia and the Asia-Pacific region.

Jeremy Cooper, Chairman, Retirement Income, Challenger Limited

Jeremy Cooper is Chairman, Retirement Income at Challenger Limited: a full-time executive role involving aspects of research, product development and public advocacy of Challenger's philosophies in a range of areas.

Keith Pogson, Asia-Pacific Financial Services Leader, Ernst & Young

Keith Pogson is the leader of Ernst & Young's Asia Pacific Financial Services Office, and one of three leaders running the financial-services business globally. He has been in the region for 15 years.

Alan Harden, Chief Executive Officer, BNY Mellon Asset Management, Asia Pacific

Alan Harden is CEO of Asia-Pacific for BNY Mellon Asset Management. Based in Hong Kong, he is responsible for all aspects of BNY Mellon Asset Management's development in the region.

John Connor, Chief Executive Officer, The Climate Institute

John Connor is CEO of Climate Institute, an independent, non-partisan research organisation with a vision of a resilient Australia prospering in a low carbon global economy, participating fully and fairly in international climate change solutions.

Gerard Doherty, Managing Director, FIL Investment Management, Australia

Gerard Doherty is the managing director for Fidelity's operations in Australia. He joined the firm in 2008 and has more than 30 years experience in the investment and financial services industry.

Tim Harcourt, Chief Economist, Austrade

Tim Harcourt is the chief economist of the Austrade, providing analyses of the global economy to help Australian exporters to devise international business strategies. Before joining, he gained a wide range of experiences in the financial sector.

Michael Wesley, Executive Director, Lowy Institute

Michael Wesley is the Executive Director of the Lowy Institute for International Policy. Previously he was Professor of International Relations and Director of the Griffith Asia Institute at Griffith University.

Huw McKay, Executive Director, Westpac

Huw McKay is the Executive Director and Senior International Economist at Westpac. He joined Westpac's Economic Research team in 2000 and is the bank's spokesperson on pan-Asian economic and market issues.

Brian Johnson, Analyst, CLSA

Brian Johnson is Australia’s most renowned bank analyst with 23 years’ experience. He joined CLSA in Sydney in April 2009 and initiated coverage of the Australian banking sector in June 2009, with his report Jaws closing.

Martin Fahy, Practice Leader, Asia Pacific, The Hackett Group

Martin Fahy is the Asia Pacific Practice Leader for the Hackett Group, a global strategic business advisory firm, specialising in transformation consulting services and globalisation advice. Mr

Mark Delaney, Deputy Chief Executive and Chief Investment Officer, AustralianSuper

Mark Delaney was appointed chief investment officer and deputy CEO of AustralianSuper in July 2006 after STA and ARF merged. He has the formidable responsibility of investing currently around $38.7 billion of members' retirement savings.

Russell Thomas, Chief Executive Officer & Managing Director, Financial Services Institute of Australasia

Russell Thomas was appointed the new CEO and Managing Director of Finsia in May 2011. Prior to joining Finsia, Mr Thomas had several roles in legal publishing and professional education with LexisNexis.

Ben Ford, Senior Economist, Export Finance and Insurance Corporation

Benjamin Ford undertakes country and political risk assessment and economic analysis at the Export Finance and Insurance Corporation (EFIC). He also provides in-depth briefings for clients, industry and government on economic and geopolitical issues.

Lee White, Executive General Manager – Members, Institute of Chartered Accountants in Australia

Lee White is responsible for leading policy and practice developments for the Institute of Chartered Accountants in Australia across all areas of the accounting profession.

Jennifer Elliott, Managing Director and Regional Head, Asia-Pacific, Moody's

Jennifer Elliott is the Managing Director and Regional Head of Asia Pacific, and in that capacity has management and oversight of Moody's business in the region. Ms Elliot has a career of more than 16 years with Moody's.

Terrence Campbell, Senior Chairman, Goldman Sachs Australia and New Zealand

Recognised as one of Australia's pre-eminent brokers, Terrence Campbell is Senior Chairman of Goldman Sachs Australia and New Zealand having stepped down as Chief Executive in February 2007.

Brian Redican, Division Director and Senior Economist, Macquarie

Brian Redican is a Division Director and the Senior Economist at Macquarie. He has worked for Macquarie since 1999 and is responsible for Australian economic and policy research.

Michael Knox, Director of Strategy and Chief Economist, RBS Morgans Limited

Michael Knox was appointed Director of Strategy and Chief Economist at RBS Morgans Limited in 1998. Prior to this, he held several high-ranking positions with the firm and joined the Board of Morgan Stockbroking in 1996.

Paul Verschuer, Managing Director, Foreign Exchange, Commodities, Carbon, Energy, Equities, Westpac Institutional Bank

Paul Verschuer is a managing director and a member of the executive team of the Westpac Institutional Bank (WIB). He also holds many specific global responsibilities within Westpac Institutional Bank.

Founding sponsor:

BYN

Lead sponsor:

EY

Supporting sponsor:

Luncheon host:

Gadens laywers

Public affairs agency:

Republic

Supporting organisations:

 

 

 

 

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