The Bellwether Series: Australia

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July 28th 2010

Sofitel Sydney Wentworth, Sydney, Australia

The team at Economist Conferences were delighted to bring together 150 policymakers, regulators and business leaders to debate and shape the future of finance at The Bellwether Series: Australia on July 28th 2010 in Sydney. Our panel of distinguished guest speakers, including The Hon. Wayne Swan MP, Deputy Prime Minster and Treasurer, engaged in a series of critical discussions on economic policy, new business and investment opportunities and the future outlook for Australia's economy.

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Learn first-hand about government plans to maintain Australia's financial growth
Gain insights into new inbound and outbound investment opportunities for Australia
Have a voice in a discussion with the policymakers and business leaders
Equip your business for the challenges ahead
Network and benchmark the leading investors, executives and policymakers in Australia and the region

8:20am	Registration and refreshments
8:50am	Chairman's welcome Charles Goddard, Editorial Director, Asia-Pacific, Economist Intelligence Unit
9:00am	Setting the scene: The outlook for Australia's economy and the future of finance As the dust begins to settle over Australia's political landscape, we ask Mark Johnson, Chairman of the Australia Financial Centre Forum where this leaves the Australian economy its financial markets. Mark Johnson, Chairman, Australia Financial Centre Task-Force Interviewed by: Robert Milliken, Australia Correspondent, The Economist
9:30am	Keynote address: What next for Australia? The government perspective The Australian economy has proven its resilience in the face of massive, synchronised recessions in almost all of the world's major economies. Nevertheless, significant challenges and risks remain as the global economy and financial markets still remain in a fragile state. In order to maintain Australia's growth, what challenges lie ahead for the government - what is the future of regulation, intervention and policy? The Hon. Wayne Swan MP, Deputy Prime Minister and Treasurer, Government of Australia Moderated by: Charles Goddard, Editorial Director, Asia-Pacific, Economist Intelligence Unit
10:15am	The changing global and Australian financial-services landscape A closer look at strategic trends in the global financial-services industry in the wake of the financial crisis. How is the global investment banking industry changing? Will Australian financial institutions ever unlock their true potential and emerge on the global stage as major force? Can Australia compete as an Asia-Pacific or global financial services hub in the future? What is the future of Islamic finance in Australia? Panelists: The Hon. Chris Bowen MP, Minister for Financial Services, Superannuation and Corporate Law; Minister for Human Services, Government of Australia Matin Fahy, Managing Director and Chief Executive Officer, Financial Services Institute of Australasia Ian Saines, Group Executive Institutional Banking and Markets, Commonwealth Bank Moderated by: Matthew Valencia, Wall Street Editor, The Economist
11:00am	Networking coffee and tea break
11:30am	The outlook for risk management—roles of the regulatory institutions, the Reserve Bank and the financial institutions themselves The creation of financial innovations such as structured products and securitisation has largely been blamed for the financial crisis. Efforts to restore trust in the system and chart a path to recovery are well under way, but what steps are needed to prevent another crisis? Strong risk prevention and a solid framework of regulation that allow for responsible innovation are central to this progress. What are the implications of international regulatory initiatives for Australia? What initiatives are currently being reviewed by the regulatory authorities? How are regulators and the Reserve Bank creating a secure financial framework? Is Australia's financial regulation stifling innovation? Should regulators clamp down on the creators of these products? Should new financial innovation be about reducing complexity? Panelists: Art Certosimo, Senior Executive Vice President and Chief Executive Officer of Alternative Investment and Broker-Dealer Services, BNY Mellon Jon Denovan, Senior Partner, Banking and Finance, Gadens Lawyers Rory Matthews, Chief Executive Officer and Managing Director, Veda Advantage Group Moderated by: Matthew Valencia, Wall Street Editor, *The Economist* Co-Moderator: Melissa Long, Anchor, Bloomberg
12:30pm	Lunch
1:50pm	The outlook for global currencies and the Australian Dollar—is there a paradigm shift? The US dollar has played the role of the world’s leading reserve currency but some could argue that it has contributed to the global imbalances that we see today. What geopolitical and economic implications will we face if a shift in the balance of power among major currencies continues? Panelists: Professor Warwick McKibbin, Director, Research School of Economics, The Australian National University, Board Member, Reserve Bank of Australia Dr Andrew Stoeckel, Founding Chairman, The Centre for International Economics Huw McKay, Senior International Economist, Westpac Economics, Westpac Institutional Bank Mardi Dungey, Professor of Economics and Finance, University of Tasmania Moderated by: Charles Goddard, Editorial Director, Asia-Pacific, Economist Intelligence Unit
2:30pm	Global and Australian investment opportunities: The regions, markets and sectors of the future Looking forward, where are the growth opportunities within and outside Australia? Has the medium-term investment outlook for the US and EU structurally changed due to rising government debt levels and banking sector bad debts? Is developing Asia the most attractive regional market over the medium-term or are there asset market bubbles building? How attractive are Australian investment opportunities within this global landscape? Panelists: Nicholas Moore, Chief Executive Officer, Macquarie Group Keith Pogson, Global Financial Services Leader, Asia Pacific, Ernst & Young David Stuart, Head of Dynamic Asset Allocation, Australia and New Zealand, Mercer Moderated by: Matthew Valencia, Wall Street Editor, The Economist
3:10pm	Assessing Australia's external financing vulnerabilities Major new mining and energy projects are planned over the medium-term, which will boost GDP and export growth. With increased inflow of investment money, the future for the commodities sector looks bright, but also brings with it increasing external debt levels to finance large new projects. Can Australia mitigate its dependence on fluctuating commodity prices? How vulnerable is Australia to rising foreign debt levels? Is the banking sector vulnerable to external refinancing risks? Panelists: Steve Hess, Vice President, Senior Credit Officer, Sovereign Risk Group, Moody's Investor Service Michael Stutchbury, Economic Editor, *The Australian* Alberto Calderon, Group Executive and Chief Commercial Officer, BHP Billiton Moderated by: Robert Milliken, Australia Correspondent, The Economist
3:50pm	Networking coffee and tea break
4:20pm	The outlook for the Australian asset management industry The recent rally in asset prices has bolstered the confidence and risk appetite among both asset managers and their clients. It will be sometime, however, before the global industry fully regains its footing. With this in mind we examine the future of Australia's flourishing asset management industry. Panelists: David Murray, Chairman, Future Fund Mark Delaney, Chief Investment Officer, AustralianSuper Moderated by: Charles Goddard, Editorial Director, Asia-Pacific, The Economist Intelligence Unit
5:00pm	Keynote summary response The Hon. Lindsay Tanner MP, Minister for Finance and Deregulation, Government of Australia Moderated by: Charles Goddard, Editorial Director, Asia-Pacific, Economist Intelligence Unit
5:45pm	Concluding remarks Charles Goddard, Editorial Director, Asia-Pacific, Economist Intelligence Unit
6:000pm	Cocktail reception Welcome remarks by: The Honourable Eric Roozendaal MLC, Treasurer, Special Minister of State, Minister for State and Regional Development, New South Wales Government

Note: Economist Conferences maintains the right to postpone or reschedule any conferences for events outside of its direct control including and not limited to weather, security/political or health, disease risk and/or any Force Majeure events.

Chairmen:

Charles Goddard

Editorial Director, Asia-Pacific

Economist Intelligence Unit

Matthew Valencia

Wall Street Editor

The Economist

Guest Chairman:

Robert Milliken

Australia Correspondent

The Economist

Confirmed Speakers:

	The Hon. Wayne Swan MP Deputy Prime Minister and Treasurer Government of Australia		The Hon. Lindsay Tanner MP Minister for Finance and Deregulation Government of Australia
	The Hon. Chris Bowen MP Minister for Financial Services, Superannuation and Corporate Law; Minister for Human Services Government of Australia		Mark Delaney Chief Investmetn Officer AustralianSuper
	Ian Saines Group Executive Institutional Banking and Markets Commonwealth Bank		David Murray Chairman Future Fund
	Nicholas Moore Chief Executive Officer Macquarie Group		Mark Johnson Chairman Australia Financial Centre Forum
	Dr. Martin Fahy Chief Executive Officer FINSIA - Financial Services Institute of Australasia		Art Certosimo Senior Executive Vice President and Chief Executive Officer of Alternative Investment and Broker-Dealer Services BNY Mellon
	Rory Matthews Chief Executive Officer and Managing Director Veda Advantage Group		Jon Denovan Senior Partner, Banking and Finance Gadens Lawyers
	Steven Hess Vice President, Senior Credit Officer, Sovereign Risk Group Moody's Investor Service		Keith Pogson Global & Far East Financial Services Leader Ernst & Young
	Prof Warwick McKibbin Director, Research School of Economics The Australian National University Board Member Reserve Bank of Australia		Michael Stutchbury Economic Editor The Australian
	Alberto Calderon Group Executive and Chief Commercial Officer BHP Billiton		Dr Andrew Stoeckel Founding Chairman The Centre for International Economics
	Huw McKay Senior International Economist, Westpac Economics Westpac Institutional Bank		David Stuart Head of Dynamic Asset Allocation, Australia and New Zealand Mercer
	Melissa Long Anchor Bloomberg Television		Mardi Dungey Professor of Economics and Finance University of Tasmania