The case for businesses to create and deliver products and services that treat people fairly and meets individuals’ needs and aspirations is being increasingly debated.
Many financial services players are trying to implement new strategies to provide their clients with investment tools that not only maximise returns, but are also fair, sustainable and transparent.
Based on his experience with senior executives of BSR member companies and his participation in the World Economic Forum and COP21, Mr. Aron Cramer will present his view on the environmental, social and corporate governance issues faced by global financial institutions.
Aron will give an overview of the main sustainability trends across industries and will discuss the impact these are having on financial services. The discussion will include:
· How climate issues are affecting businesses.
· Financial firms as stewards of sustainability practices.
· How corporate governance plays a role addressing environmental and social issues
· Sustainability trends, and UN`s Sustainable Development Goals.
In February 2016, the Bank of Japan introduced QQE with a negative interest rate. This has had a number of legal implications which are currently being discussed by the Financial Law Board, which is an independent body advising the Bank of Japan.
Mr. Akihiro Wani, from Ito & Mitomi / Morrison & Foerster LLP and a member of the Financial Law Board, will address some of the key legal implications of negative interest rates in Japan and its operational effects on financial firms including:
· The mechanism of NIR in the Japanese banking system (effective from February 16, 2016).
· What is “interest” ?
· The treatment of NIR in a “freedom to contract“ jurisdiction.
· How to interpret contracts in which there is no explicit provision regarding NIR. Is it an implied agreement of the parties?
· A zero floor approach or non-zero floor approach.
· The impact on different transactions: loans, bonds, derivatives and structured products.
· The Financial Law Board’s paper of February 19, 2016.
Mr. Vito Giudici, Senior Partner, Mc Kinsey & Company Japan
In the last decade, the Asia-Pacific banking sector is emerging from a golden age when it was one of the largest sources of global banking profits.
The momentum from this golden decade seems to be fading as a result of slowing macroeconomic indicators, disruption from “attackers” (including competition from Fintech firms) and weakening balance sheets. This presents new challenges for financial firms operating in the region who are experiencing slower growth.
An expert from Mc Kinsey and Company will present their strategic view on the 2016 Asia-Pacific banking industry and will discuss developments and opportunities across Asia-Pacific including Japan. The presentation will focus on:
· Focused growth: wealth management and other areas for development.
· Drive a value-focused digital transformation: how market players can capitalise on technology to control costs.
· Strengthening balance sheets: solutions to address the growing volume of non-performing assets, while working to improve risk management as a longer fix.
· Enabling the organisation: building partnerships and forming alliances with FinTech and others to bring out new products and services much faster than in the past.
· Talent management: how banks need to revise their approach to enable innovation.
Mr. Mark Dimont, Product Manager, News and Social Media Applications, Bloomberg LP
Social media is a tool that is beginning to be used more extensively by financial services firms for a variety of purposes.
Mark Dimont from Bloomberg LP will set out the latest global trends in the use of social media in the financial industry. The presentation will cover:
· Recent global trends and key social media players.
· Case studies of how financial firms are currently using social media and possible uses for service marketing, recruitment, investor relations, thought leadership and other purposes.
· Adapting social media to different audiences.
· Current global regulatory guidance.
· How other players (e.g. regulators and central banks) use social media.
