| Conference Proceedings |
Saturday, 31st July 2010 |
Conference Proceedings for The 2008 Global Financial Services Centres Conference
Monday 16th and Tuesday 17th June 2008, Dublin (The Royal Hospital Kilmainham)
|
Main Conference - Day 1
| Time Slot |
Event |
Speakers |
Papers |
| 08:30 |
Welcome Address
Ken O'Brien, Conference Director
Session chair: Patrick Young
|
Ken O'Brien, Conference Director & CEO, Fintel Publications Ltd
Patrick L Young, Chairman |
 Download
|
| 08:40 |
Developing a Positive Regulatory & Fiscal Governance Environment for Successful Financial Centres.
The 'Trans Atlantic Financial Centres' of the USA-EU include 22 of the top 50 financial centres in
the world, according to the recently published GFCI Index.
Commissioner Charlie McCreevy, the EU Commissioner who has espoused the agenda of
promoting the EU's regulation as a positive contributor to the EU economy speaks on how the 17 top centres within his remit can prosper in the context of increasing competition for business in a
hard pressed financial services environment. |
Charlie McCreevy, Commissioner for the Internal Market, European Commission |
Download
[00:16:47] |
| 09:00 |
Developing a Positive Regulatory & Fiscal Governance Environment for Successful Financial Centres(2)
SEC Commissioner Paul Atkins speaks on how SEC regulation can proceed while ensuring that
global financial centres, such as no 2 ranked New York, no 8th ranked Chicago, 11th ranked Boston,
12th ranked San Francisco, and 20th ranked Washington can prosper and retain financial services employment, while encouraging an open trans Atlantic financial services regulatory and trading dialogue. |
Paul S. Atkins, Member TARP Oversight Panel, US Congress, & Former Commissioner SEC, Securities and Exchange Commission |
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[00:23:58] |
| 09:20 |
Global Financial Centres - Rise and Fall
- Winners and losers around the world
- Global Financial Centres Index: methodology and operation
- Winning strategies: old categories, new entrants
- Policy implications: the non-zero-sum game of global finance
- Success: what makes a successful global financial centre? |
Professor Michael Mainelli, Executive Chairman, Z/Yen |
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[00:28:20] |
| 10:20 |
Tax Competition: A Threat or a Saviour?
What influence does tax have on location decisions?
How are governments reacting
Tax Competition: the Liechtenstein factor |
Jeffrey Owens, Head of Centre for Tax Policy and Administration, OECD |
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[00:22:55] |
| 10:40 |
The Liechtenstein-Germany debate. Offshore/Onshore. Money laundering. |
Pat Wall, Partner, PricewaterhouseCoopers |
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|
| 11:20 |
The Future of Europe's Financial Centres
European financial centres face a future of intensified competition, as the single market starts to affect their prospects as well. Although the European financial sector is thriving, the recent strong growth should be no reason for complacency. The new EU measures, most importantly the prospectus and MiFID directives, directly affect the competitive position of financial centres. |
Rym Ayadi, Head Financial Institutions & Prudential Policy Unit, Centre for European Policy Studies |
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|
| 11:40 |
Is London guilty of resting on its laurels as a global financial centre?
- Has London grown uncompetitive?
- Are recent UK tax changes driving business to more attractive jurisdictions?
- Is London shackled by excessive regulation?
- Getting to grips with London's poor infrastructure and skills base
- Prospects for growth |
Keith Boyfield, Managing Director, Keith Boyfield Associates |
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|
| 12:20 |
Panel Discussion - London v New York
& the top financial centres in North America & Europe versus the rising financial services centres
|
Panelists will include:
Michael Mainelli, Executive Chairman, Z/Yen
Keith Boyfield, Managing Director, Keith Boyfield Associates
Sandra Boss, Partner, McKinsey & Co
Patrick L Young, Chairman
Rym Ayadi, Head Financial Institutions & Prudential Policy Unit, Centre for European Policy Studies |
Download
|
| 14:15 |
The "Accidental" versus the "Deliberate" centre:
a different way of analysing financial centres.
The importance of local cultural perspectives |
Aidan Walsh, Tax Partner - Financial Services Group, Ernst & Young |
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|
| 14:35 |
The basis for regulatory modernisation in the EU and US in the future
- The Report by the EU-US Coalition on Financial Regulation
- The implications for European and North American financial centres |
Anthony Belchambers, Chief Executive, Futures and Options Association (FOA) |
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|
| 14:55 |
The Middle East Financial Centres
- Overview of development of financial centres
- Development of Middle East financial centres in the context of the above and their characteristics
- Comparative analysis of the ME financial centres. |
Jane Dellar, Managing Director, Bahrain Financial Services |
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|
| 16:10 |
The compliance quadrant. |
Cormac Murphy, Partner, Financial Services Risk Management, Ernst & Young |
Download
|
| 16:30 |
Global Financial Centres from a multinational corporation perspective: IBM |
Bernd Schumacher, Partner, IBM Global Business Services |
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|
| 16:50 |
Roundtable: Offshore Centres, European and other Regional Centres, and Emerging Centres |
(Chair) Patrick L Young, Chairman
Enrique Prados Del Amo, President, Asocacion de Mercados Financieros
Akkie Lansberg, Managing Director, Holland Financial Centre
Hartmut Schwesinger, Director, FrankfurtRhineMain
Andrew Rigby, Partner, Brodies LLP |
Download
|
Day 2
| Time Slot |
Event |
Speakers |
Papers |
| 08:50 |
Opening Address |
Brian Lenihan, Minister for Finance, Ireland, Department of Finance |
Download
|
| 09:05 |
International Financial Services - Ireland's advantage |
Barry O'Leary, CEO, IDA Ireland |
Download
|
| 09:25 |
Global Funds Industry – How the credit crisis is impacting on hedge fund and general fund valuation issues – issues, and potentials for centres to gain advantage, e.g. Jersey's new unregulated hedge funds regime. |
Paul Ellis, Head, HSBC Alternative Fund Services Ireland |
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|
| 09:40 |
Cross-border pension pooling and the emerging reality of Pan-European pension plans
- The evolution of cross-border pension pooling
- Why should a Pan-European pension plan appeal to transnational companies?
- What are the key criteria for the selection of the right jurisdiction for a Pan-European pension plan? |
Martin Jack, Managing Director, Northern Trust Global Advisers |
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|
| 10:00 |
Round Table on Fund Administration & Pension Pooling developments |
Panelists will include:
(Chair) Gerry Brady, Country Head, Northern Trust (Ireland) Ltd
John Bohan, Managing Director, Apex Fund Services Ireland
Tim Burggraaf, Representative of Holland Financial Centre and Partner, Mercer |
Download
Download
|
| 11:10 |
The Credit Crisis & it's impact on key financial centres
- Why the crisis had to happen
- Key impacts & implications for the future - Equities,Bonds,FX & Money Markets
- Key Financial Centres - winners & losers
Response: by Chand Kohli, partner banking & financial services, PricewaterhouseCoopers, co-publisher of the "Banking Banana Skins Report" (May 2008), published by the Centre for the Study of Financial Innovation, London, (CSFI), and PricewaterhouseCoopers |
John Coffey, Head of Treasury ALM, BNP Paribas (Dublin) Branch
Chand Kohli, Partner, Banking & Financial Services, PricewaterhouseCoopers |
Download
Download
|
| 12:15 |
An "all island" financial services industry
|
Leslie Morrison, Chief Executive, Invest Northern Ireland |
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|
| 14:00 |
Cross border life assurance product innovation
- Developments in insurance savings products with guarantees
- Variable Annuities and GMXBs
- Developments in Portfolio Bond products |
Mike Claffey, Director, Life Strategies |
Download
|
| 16:20 |
Developing a Positive Regulatory Environment for Successful Financial Centres: Ireland |
Patrick Neary, Chief Executive, Financial Regulator |
Download
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