frontier markets: time to shine - the institute … markets: time to shine 1:00 pm – 4:30 pm day 1...

October 11-14, 2017 | Washington, D.C. 2 Ronald Reagan Building and International Trade Center

FRONTIER MARKETS: TIME TO SHINE 1:00 pm – 4:30 pm

DAY 1 - WEDNESDAY, OCTOBER 11

ATRIUM BALLROOM B ATRIUM BALLROOM B

G20: COMPACT WITH AFRICA8:00 am – 1:00 pm

8:00 am - 8:15 am WELCOME REMARKSTim Adams, President and Chief Executive Officer, IIF

8:15 am - 8:45 am KEYNOTE REMARKS

8:45 am - 9:00 am CAPITAL MARKETS DEVELOPMENT AND FINANCIAL INCLUSION IN AFRICA• Hung Tran, Executive Manager Director, IIF

9:00 am -10:00 am INVESTOR PANEL I

10:00 am - 10:30 am IN CONVERSATION • Christine Lagarde, Managing Director, IMF• Tim Adams, President and Chief Executive Officer, IIF

10:30 am - 11:00 am COFFEE BREAK

11:00 am - 12:00 pm INVESTOR PANEL II

12:00 pm - 1:00 pm NETWORKING LUNCH

FRONTIER MARKETS: TIME TO SHINE1:00 pm – 4:30 pm

ATRIUM BALLROOM B

1:00 pm – 1:45 pm FRONTIER MARKETS: INVESTOR PERSPECTIVES• Anupam Damani, Managing Director, Portfolio Manager, TIAA • Adam Kutas, Portfolio Manager, Fidelity Management and Research

Company• Brett Rowley, Managing Director, Emerging Markets, TCW• Anne Van Praagh, Managing Director, Head of Credit Strategy and

Research, Moody’s Investors Service

1:45 pm – 2:15 pm OUTLOOK AND OPPORTUNITIES FOR SRI LANKA• Indrajit Coomaraswamy, Governor, Central Bank of Sri Lanka

2:15 pm – 3:00 pm OUTLOOK AND OPPORTUNITIES FOR PARAGUAY• Martín Castellano, Deputy Chief Economist, Latin America, IIF

(moderator)• Hamid Faruqee, Division Chief, Regional Studies, Western

Hemisphere Department, IMF• Carlos Fernández Valdovinos, President, Central Bank of Paraguay• Lea Giménez, Minister of Finance, Paraguay

3:00 pm – 3:45 pm AFRICA

3:45 pm – 4:30 pm OUTLOOK AND OPPORTUNITIES FOR EMERGING EUROPE


DAY 2 - THURSDAY, OCTOBER 12

ATRIUM BALLROOM B

EMERGING MARKETS8:30 am – 3:30 pm

CASHING OUT: THE END OF PAPER CURRENCY?

1:30 pm – 4:00 pm

ATRIUM BALLROOM A

11:15 am - 12:00 pm CONVERSATION WITH EM CENTRAL BANK GOVERNORS

12:00 pm - 12:20 pm IN CONVERSATION - MENA OUTLOOK• Arif Amiri, Chief Executive Officer,

Dubai International Financial Center (DIFC)

12:20 pm - 1:15 pm NETWORKING LUNCH

1:15 pm - 2:00 pm EM CEOs• Zbigniew Jagiełło, President, PKO

Bank Polski • Murilo Portugal Filho, Executive

President, FEBRABAN

2:00 pm - 2:45 pm GROWTH PROSPECTS IN EM• Mohsen Fahmi, Managing Director

and Portfolio Manager, PIMCO • Ayako Fujita, Head of Economic

Research, Senior Economist, Nomura Asset Management Co., Ltd.

• Arend Kapteyn, Managing Director, Chief Economist, UBS AG

• Changyong Rhee, Director, Asia and Pacific Department, IMF

2:45 pm - 3:30 pm RISING DEBT: HEADWINDS FOR EM GROWTH, CONCERNS FOR INVESTORS• Heather Hagerty, Global Sovereign

Debt Analyst, Fidelity Investments• James McCormack, Managing

Director, Global Head, Sovereign and Supranational Ratings, Fitch Ratings

• Josephine Shea, Director, Emerging Markets, Senior Portfolio Manager, Standish Mellon Asset Management

1:30 pm – 1:45 pm INTRODUCTION AND KEYNOTE REMARKS: THE PUBLIC FINANCE AND MONETARY POLICY CASE FOR A LESS-CASH SOCIETY• Kenneth Rogoff, Thomas D. Cabot

Professor of Public Policy and Professor of Economics, Harvard University

1:45 pm – 2:30 pm HOW AND WHY ARE COUNTRIES MOVING AWAY FROM CASH?• Conan French, Senior Advisor,

Innovations, IIF (moderator)• Javier Santamaría, Chair, European

Payments Council• Cecilia Skingsley, Deputy Governor,

Riksbank • Hank Uberoi, Chief Executive Officer and

Executive Director, Earthport

2:30 pm – 3:00 pm REMARKS AND IN CONVERSATION

3:00 pm – 3:45 pm OUTLOOK FOR A CASH-LITE ECOSYSTEM AND POLICY IMPLICATIONS• Conan French, Senior Advisor,

Innovations, IIF (moderator)• Grainne McNamara, Principal, Financial

Services, PwC • Ellen Richey, Vice Chairman and Chief

Risk Officer, Visa Inc.• Carolyn Wilkins, Senior Deputy

Governor, Bank of Canada

3:45 pm – 4:00 pm CLOSING REMARKS• Johan Torgeby, President and Chief

Executive Officer, SEB Group

8:30 am - 9:00 am KEYNOTE ADDRESS• Jerome H. Powell, Governor, Board of

Governors of the Federal Reserve System

9:00 am - 9:45 am FED TIGHTENING AND EM • Alejandro Díaz de León, Deputy Governor,

Banco de México • Kristin J. Forbes, Professor of Management

and Global Economics, MIT School of Management

• Boris Vladimirov, Partner, Portfolio Manager, Rokos Capital Management

• Ksenia Yudaeva, First Deputy Governor, Central Bank of Russia

9:45 am - 10:30 am PROTECTIONISM AND EM: WINNERS AND LOSERS• Lorenzo Giorgianni, Chief Economist,

Emerging Markets, Global Research Department, Tudor Investment Corporation

• David Loevinger, Managing Director, Emerging Markets Group, TCW

• Alberto Ramos, Managing Director, Head of Latin America Research, Goldman Sachs

• Ratna Sahay, Deputy Director, Monetary and Capital Markets Department, IMF

• Yasuyuki Sawada, Chief Economist, Asian Development Bank (ADB)

10:30 am - 11:15 am SUSTAINABILITY OF DOLLAR PEGS• Aasim Husain, Deputy Director, Middle East

and Central Asia Department, IMF• Mushtaq Khan, Chief Economist, Bank

Alfalah• Elina Ribakova, Managing Director and

Chief Economist EEMEA, Deutsche Bank • Brad Setser, Senior Fellow, Council on

Foreign Relations• Herbert Wigwe, Chief Executive Officer and

Group Managing Director, Access Bank Plc


DAY 3 - FRIDAY, OCTOBER 13

AMPHITHEATER | 8:30 am - 12:20 pm

8:30 am - 9:00 am WELCOME• Tim Adams, President and Chief Executive Officer, IIF

9:00 am - 9:50 am VIEWS FROM THE C-SUITE: GLOBAL OUTLOOK AND MACRO• Mary Callahan Erdoes, Chief Executive Officer, J.P. Morgan Asset Management • Martin Gilbert, Chief Executive, Aberdeen Asset Management• Nobuhide Hayashi, Chairman, Mizuho Bank Ltd. • Martin Wolf, Chief Economics Commentator, Financial Times (moderator) • Axel Weber, Chairman of the Board of Directors, UBS Group AG; Chairman, IIF

9:50 am - 10:40 am VIEWS FROM THE C-SUITE: EUROPE• Ana Botín, Executive Chairman, Grupo Santander• John Cryan, Chief Executive Officer, Deutsche Bank AG• Howard Davies, Chairman, Royal Bank of Scotland (moderator) • Jean Lemierre, Chairman of the Board, BNP Paribas• Andreas Treichl, Chairman and Chief Executive Officer, Erste Bank

10:40 am -11:30 am VIEWS FROM THE C-SUITE: WESTERN AND SOUTHERN HEMISPHERE• Ben Kruger, Group Chief Executive, Standard Bank Group Ltd. • Ian Narev, Chief Executive Officer, Commonwealth Bank of Australia• Brian Porter, President and Chief Executive Officer, Scotiabank• Roberto Setúbal, Co-Chairman of the Board of Directors, Itaú Unibanco Holding S.A.

11:30 am - 12:20 pm VIEWS FROM THE C-SUITE: ASIA• Sergio Ermotti, Group Chief Executive Officer, UBS Group AG• Datuk Abdul Farid Alias, Group President and Chief Executive Officer, Maybank • Raymond McDaniel, President and Chief Executive Officer, Moody’s Corporation• Jose Viñals, Group Chairman, Standard Chartered Plc.

LUNCH: ATRIUM HALL

12:30 pm - 2:00 pm VIEWS FROM THE C-SUITE: U.S.• Tim Adams, President and Chief Executive Officer, IIF (moderator)• Jamie Dimon, Chairman and Chief Executive Officer, JPMorgan Chase & Co. • Laurence D. Fink, Chairman and Chief Executive Officer, BlackRock, Inc.• James Gorman, Chairman and Chief Executive Officer, Morgan Stanley


DAY 3 - FRIDAY, OCTOBER 13

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AMPHITHEATER ATRIUM BALLROOM A ATRIUM BALLROOM B

GLOBAL MONETARY POLICY: THE $13 TRILLION CHALLENGE• Lorenzo Bini Smaghi, Chairman, Société Générale• Richard Clarida, Managing Director, Global Strategic Advisor,

PIMCO (moderator)• Jacob Frenkel, Chairman, JPMorgan Chase International• Randall Kroszner, Norman R. Robins Professor of Economics,

University of Chicago Booth School of Business• Sayuri Shirai, Professor, Keio University; Visiting Scholar, Asian

Development Bank Institute

VIEWS FROM THE C-SUITE: MARKET INFRASTRUCTURE• Michael Bodson, President and Chief Executive Officer, DTCC• Carsten Kengeter, Chief Executive Officer, Deutsche Börse AG• Steven Maijoor, Chair, European Securities & Markets Authority

(ESMA)• Richard Teng, Chief Executive Officer, Financial Services

Regulatory Authority, Abu Dhabi Global Market (ADGM)

CHINESE INTERNET FINANCE• Conan French, Senior Advisor, Innovations, IIF (moderator)• Chen Long, Chief Strategy Officer, Ant Financial• Jared Shu, Head of Strategy, Webank • So Lan Ip, Vice President and Chief Risk Officer, Ping An

Insurance Company

NEW DATA FOR OLD PROBLEMS• Filippo Altissimo, Head of Global Research, Tudor Investment

Corporation • Jessica Donohue, Executive Vice President, Global Head

of Performance & Analytics, State Street Global Services (moderator)

• Marcel Kasumovich, Chief Strategist, TSE Capital• David Soloff, Chief Executive Officer, Premise

THE STATE OF GLOBAL FINANCIAL REGULATION• William Coen, Secretary General, Basel Committee, Bank for

International Settlements• Frédéric Oudéa, Chief Executive Officer, Société Générale• Andrés Portilla, Managing Director, Regulatory Affairs, IIF

(moderator)• Sid Sankaran, Executive Vice President, Chief Financial Officer,

AIG• Victoria Saporta, Head of Prudential Policy Division, Bank of

England

FINANCIAL REGULATORY REFORM UNDER THE TRUMP ADMINISTRATION• Joe Carapiet, Senior Counsel, U.S. Senate Committee on

Banking, Housing, and Urban Affairs• Sandie O’Connor, Chief Regulatory Affairs Officer, JPMorgan

Chase & Co. • Craig Philips, Counselor to the Secretary, U.S. Department of the

Treasury• Candida Wolff, Executive Vice President, Head of Global

Government Affairs, Citi

U.S. POLICY AND ECONOMIC UPDATE• Celia Dallas, Chief Investment Strategist, Cambridge

Associates LLC• Megan Greene, Chief Economist, Managing Director, Manulife

Asset Management• Douglas Holtz-Eakin, President, American Action Forum• Rohit Kumar, Principal and Co-Leader, PwC• Ambassador Kristen Silverberg, Managing Director, IIF

(moderator)

EUROPE ECONOMIC AND POLITICAL OUTLOOK• Jörg Asmussen, Managing Director, Lazard Frères• Stephanie Flanders, Head, Bloomberg Economics (moderator)• Michala Marcussen, Global Head of Economics, Société

Générale • Reza Moghadam, Vice Chairman for Sovereign and the Official

Institutions, Morgan Stanley• Jean Pisani-Ferry, Professor, Sciences Po

BOLSTERING AML: REGTECH AND REGULATORY REFORM• Jennifer Calvery, Global Head of Financial Crime Threat

Mitigation, HSBC Holdings plc • Jay Collins, Vice Chairman, Corporate Investment Banking, Citi

(moderator)• David Lewis, Executive Secretary, Financial Action Task Force• Alistair Rennie, General Manager, Solutions, IBM Watson

Financial Services• Gurjeet Singh, Co-Founder and Executive Chairman, Ayasdi• Valerie Tay, Executive Director, Anti-Money Laundering

Department, Monetary Authority of Singapore

THE FUTURE OF THE EUROPEAN FINANCIAL SECTOR• Douglas Elliott, Partner, Oliver Wyman (moderator)• Sabine Lautenschläger, Member of the Executive Board,

European Central Bank• Marcus Schenck, President, Co-Head of Corporate and

Investment Bank, Deutsche Bank AG• Huw van Steenis, Global Head of Strategy, Schroders plc

CYBERSECURITY AND FINANCIAL STABILITY• Martin Boer, Director, Regulatory Affairs, IIF (moderator)• Beth Dugan, Deputy Comptroller for Operational Risk, Office

of the Comptroller of the Currency (OCC) • Mary Kirwan, Managing Director, Head of Financial Crime

Compliance, Credit Suisse AG• Susan Nash, Member, Secretariat to the Financial Stability

Board, Bank for International Settlements• Greg Rattray, Head, Global Cyber Partnership and

Government Strategy, JPMorgan Chase & Co.

THE FUTURE OF RISK MANAGEMENT• Craig Broderick, Chief Risk Officer, Goldman Sachs • Tom Campanile, Partner, EY• Holger Harreis, Partner, McKinsey & Company

CONCURRENT SESSIONS 2:10 pm - 6:00 pm

NETWORKING RECEPTION (Atrium Hall) 6:00 pm - 7:30 pm


DAY 4 - SATURDAY, OCTOBER 14

AMPHITHEATER

ATRIUM HALL

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8:00 am - 9:00 am BREAKFAST CONVERSATION• Lawrence H. Summers, Charles W. Eliot University Professor and President Emeritus, Harvard University• Tim Adams, President and Chief Executive Officer, IIF

ROBOTS/AI AND THE FUTURE OF WORK• David Autor, Ford Professor of Economics and Associate Head,

MIT Department of Economics• Mitali Das, Deputy Division Chief, Research Department, IMF• Greg Ip, Chief Economics Commentator, Wall Street Journal

(moderator)• Susan Lund, Principal, Director of Research, McKinsey and

Company

CHINA OUTLOOK: WHAT TO EXPECT AFTER 19TH PARTY CONGRESS• Brian Coulton, Chief Economist, Fitch Ratings• James Daniel, Assistant Director, Asia Pacific Department, IMF • Gene Ma, Chief Economist, China, IIF (moderator)• Helen Qiao, Greater China Chief Economist, Head of Asia

Economics, Bank of America Merrill Lynch (BAML)• Pingkang Yu, Senior Managing Director , Changjiang Pension

Insurance Co., Ltd.

AMPHITHEATER

BREXIT UPDATE: HARD, SOFT OR OVER EASY?• Simon Nixon, Chief European Commentator, Wall Street

Journal (mode rator)• Faryar Shirzad, Global Co-Head, Office of Government Affairs,

Goldman Sachs • Gerard Lyons, Chief Economic Adviser, Advisory Board, Parker

Fitzgerald• Andreas Dombret, Member of the Executive Board, Deutsche

Bundesbank

ATRIUM BALLROOM A

INFRASTRUCTURE• Sara Bonesteel, Chief Investment Officer, Retirement Business,

Global Portfolio Management, Prudential Insurance • Marcelia Freeman, Vice President, Capital Development, EIG

Partners• Fabio Gallia, Chief Executive Officer, Cassa Depositi e Prestiti• John Garvey, Global Financial Services Leader, PwC US• Hung Tran, Executive Managing Director, IIF (moderator)• Glenn Youngkin, Chief Operating Officer, The Carlyle Group

MARKETS AND INVESTMENT• Blaise Antin, Managing Director, Sovereign Group Head, TCW • Pascal Blanqué, Chief Investment Officer, Amundi• Lisa Emsbo-Mattingly, Director of Research, Fidelity

Investments• Sonja Gibbs, Senior Director, Global Capital Markets, IIF

(moderator)• Isabelle Mateos y Lago, Managing Director, Chief Multi-Asset

Strategist, BlackRock

AI AND THE FUTURE OF FINANCE• Doug Shulman, Senior Executive Vice President, Global Head,

Client Service Delivery, BNY Mellon • Axel Lehmann, Group Chief Operating Officer, UBS Group AG

EMERGING MARKETS POLITICAL RISK• Katinka Barysch, Director, Political Relations, Allianz SE

(moderator)• Meral Karasulu, Director of Fixed Income Research, Global

Debt Team, Oppenheimer Funds • Jonathan Lemco, Principal and Senior Analyst, Vanguard Group• Mario Mesquita, Chief Economist, Itaú Unibanco Holding S.A.• Lupin Rahman, Executive Vice President, Global Head of

Sovereign Credit, PIMCO

ENERGY• Sarah Cottle, Vice President, Global Head of Metals and

Agriculture, Co-Head of Content, S&P Global Platts • Bejoy Das Gupta, Chief Economist, Asia Pacific, IIF (moderator)• Steven Fries, Chief Economist, Shell International • Ed Morse, Global Head of Commodities, Citi

GLOBAL CAPITAL FLOWS• Joyce Chang, Managing Director, Global Head of Research,

J.P. Morgan Chase & Co. (moderator)• Hyun Song Shin, Economic Adviser, Head of Research, Bank

for International Settlements• Richard Lacaille, Executive Vice President, Global Chief

Investment Officer, State Street Global Advisors• Nouriel Roubini, Chairman, Roubini Global Economics

ATRIUM BALLROOM B

CONCURRENT SESSIONS | 10:00 am — 12:50 pm

9:00 am - 9:50 am VIEWS FROM THE C-SUITE: GLOBAL MARKETS AND MACRO• Tim Adams, President and Chief Executive Officer, IIF• Douglas Peterson, President and Chief Executive Officer, S&P Global• Daniel Pinto, Chief Executive Officer, Corporate & Investment Bank, J.P. Morgan


DAY 4 - SATURDAY, OCTOBER 14

AMPHITHEATER

ATRIUM HALL

1:00 pm - 2:30 pm LUNCH: BIG THINK• Tim Adams, President and Chief Executive Officer, IIF• Mohamed El-Erian, Chief Economic Advisor, Allianz SE• Ravi Menon, Managing Director, Monetary Authority of Singapore • Gillian Tett, U.S. Managing Editor, Financial Times

2:30 pm - 6:00 pm CONVERSATIONS WITH POLICYMAKERS


WEDNESDAY, OCTOBER 11ATRIUM BALLROOM B

G20: COMPACT WITH AFRICA8:00 am – 1:00 pm

FRONTIER MARKETS: TIME TO SHINE1:00 pm – 4:30 pm

THURSDAY, OCTOBER 12ATRIUM BALLROOM A ATRIUM BALLROOM B

EMERGING MARKETS

INTRODUCTION AND KEYNOTE ADDRESS

8:30 am – 9:00 am

FED TIGHTENING AND EM9:00 am – 9:45 am

PROTECTIONISM AND EM: WINNERS AND LOSERS

9:45 am – 10:30 am

SUSTAINABILITY OF DOLLAR PEGS10:30 am – 11:15 am

CONVERSATION WITH EM CENTRAL BANK GOVERNORS 11:15 am – 12:00 pm

IN CONVERSATION 12:00 pm – 12:20 pm

NETWORKING LUNCH 12:20 pm – 1:15 pm

EM CEOs1:15 pm – 2:00 pm

GROWTH PROSPECTS IN EM2:00 pm – 2:45 pm

RISING DEBT: HEADWINDS FOR EM GROWTH, CONCERNS FOR INVESTORS

2:45 pm – 3:30 pm

CASHING OUT: THE END OF PAPER CURRENCY?

INTRODUCTION AND KEYNOTE REMARKS

1:30 pm – 1:45 pm

HOW AND WHY ARE COUNTRIES MOVING AWAY FROM CASH?

1:45 pm – 2:30 pm

REMARKS AND IN CONVERSATION2:30 pm – 3:00 pm

OUTLOOK FOR A CASH-LITE ECOSYSTEM AND POLICY

IMPLICATIONS3:00 pm – 3:45 pm

CLOSING REMARKS3:45 pm – 4:00 pm

FRIDAY, OCTOBER 13AMPHITHEATER

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8:30 am – 9:00 am WELCOME

9:00 am – 9:50 am VIEWS FROM THE C-SUITE: GLOBAL OUTLOOK

9:50 am – 10:40 am VIEWS FROM THE C-SUITE: EUROPE

10:40 am – 11:30 am VIEWS FROM THE C-SUITE: WESTERN AND SOUTHERN HEMISPHERE

11:30 am – 12:20 pm VIEWS FROM THE C-SUITE: ASIA

12:30 pm – 2:00 pm LUNCH: VIEWS FROM THE C-SUITE: U.S. (Atrium Hall)


2:10 pm – 3:00 pm GLOBAL MONETARY POLICY: THE $13 TRILLION CHALLENGE CHINESE INTERNET FINANCE THE STATE OF GLOBAL FINANCIAL

REGULATION

3:10 pm – 4:00 pm VIEWS FROM THE C-SUITE: MARKET INFRASTRUCTURE NEW DATA FOR OLD PROBLEMS

FINANCIAL REGULATORY REFORM UNDER THE TRUMP

ADMINISTRATION

4:10 pm – 5:00 pm U.S. POLICY AND ECONOMIC UPDATE BOLSTERING AML: REGTECH AND REG REFORM

THE FUTURE OF THE EUROPEAN FINANCIAL SECTOR

5:10 pm – 6:00 pm EUROPE ECONOMIC AND POLITICAL OUTLOOK

CYBERSECURITY AND FINANCIAL STABILITY

THE FUTURE OF RISK MANAGEMENT

6:00 pm – 7:30 pm NETWORKING RECEPTION (Atrium Hall)

SATURDAY, OCTOBER 148:00 am – 9:00 am BREAKFAST CONVERSATION (Atrium Hall)

AMPHITHEATER

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9:05 am – 9:50 am VIEWS FROM THE C-SUITE: GLOBAL MARKETS AND MACRO


10:00 am – 10:50 am ROBOTS/AI AND THE FUTURE OF WORK INFRASTRUCTURE EMERGING MARKETS POLITICAL

RISK

11:00 am – 11:50 am CHINA OUTLOOK: WHAT TO EXPECT AFTER 19TH PARTY CONGRESS

MARKETS AND INVESTMENT ENERGY

12:00 pm – 12:50 pm BREXIT UPDATE: HARD, SOFT OR OVER EASY? AI AND THE FUTURE OF FINANCE GLOBAL CAPITAL FLOWS

1:00 pm – 2:30 pm LUNCH: BIG THINK (Atrium Hall)

AMPHITHEATER

2:30 pm - 6:00 pm CONVERSATIONS WITH POLICYMAKERS

AGENDA AT-A-GLANCE

frontier markets: time to shine - the institute … markets: time to shine 1:00 pm – 4:30 pm day 1...

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