Brochure 3rd international banking and finance forum

3rd INTERNATIONAL BANKING AND FINANCE FORUM RESTORING CONFIDENCE IN FINANCIAL SERVICES

19 NOVEMBER 2013 CLIFFORD CHANCE, 10 UPPER BANK STREET, LONDON E14 5JJ

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MEET YOUR GLOBAL NETWORK 100+ EVENTS : JUNE-JULY 2014, LIVERPOOL UK The International Festival for Business 2014 will be an ambitious global showcase for great British industries and sectors. It will connect UK businesses to new markets, new products and new partners.

Welcome Rudi Guraziu, Chief Executive, IBDE rd

I am pleased to welcome you all to the “3 International Banking and Finance Forum - Restoring Confidence in Financial Services”.

The past two decades have witnessed both tremendous change and tremendous growth in the financial sector in countries across the globe and especially the UK. But, many countries in the world have experienced profound banking crises, sometimes leading to costly bank bailouts, bank failures and overall disruption in economic activity. This has tremendously damaged public trust in banks and financial services. The changes in the banking landscape and banking crises have focused policy makers’ and industry participants’ attention on the appropriate role and structure of banking supervision and regulation. The subsequent sovereign debt crisis in the Eurozone and the complex relationship between sovereign and bank debt poses further problems for policymakers. The crisis seems to be over, with most countries across Europe being officially out of recession, but this has clearly demonstrated the close global interconnectedness of the financial system. The vulnerabilities exposed in the crisis affect banks and states globally while regulatory policy is organised along national boundaries – raising difficult policy coordination issues in the international regulatory field.

IBDE forums in this series aim to encourage greater focus on best practice in banking and finance in the quest to restore confidence in financial services as well as to reinforce the position of the UK as a financial centre of European and global strategic importance.

Taking place at the heart of the UK’s Financial Centre, today’s event brings together a wide range of policymakers, industry practitioners, diplomats as well as economic and financial experts from participating sectors and institutions to explore the progress and remaining challenges in restoring trust and confidence in financial services as well as to discuss the financial sector regulatory reforms after the banking union and the recent report of the Parliamentary Commission on Banking Standards: The impact on international competitiveness, efficiency and financial stability and non-banking activities. In addition, the forum will explore the role that the banks and finance should play in the economy to help the world prosper.

We are delighted to welcome such a diverse number of distinguished speakers who will be able to discuss these and other issues in detail. There will also be an opportunity to ask questions; so please feel free to participate in the debate.

We are grateful to Malcolm Sweeting and Simon Gleeson and colleagues at Clifford Chance for their generous support and for hosting this meeting. I wish also to thank all our distinguished speakers for accepting our invitation, in particular the Lithuanian Minister of Finance, Mr Rimantas Satzius, who has travelled to London to attend this meeting and all of you who have taken time out to be here today. Of course, I wish to thank our partners for supporting this event and in particular “Invest in Lithuania” for their trip to London. And finally I wish to thank my colleagues at IBDE and Clifford Chance (especially Ben and Rebecca) for their efforts and excellent job in putting together this conference. th

Our 4 International Banking and Finance Forum will kindly be hosted by Thomson Reuters on 13 February 2014 and I wish to invite you to consider some limited sponsorship and exhibition opportunities that are available for the forums in this series. For more information please contact us at info@ibde.org or visit www.ibde.org

IBDE – Integrating World Markets

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PROGRAMME

08:30

Registration, networking and refreshments

09:00

Opening of the Forum Welcome remarks: Malcolm Sweeting, Senior Partner, Clifford Chance Introduction: Rudi Guraziu, Chief Executive, IBDE Keynote: Hon. Rimantas Satzius, Minister of Finance, Republic of Lithuania

09:30

Session one: Rebuilding trust in banking and finance: progress & challenges Chair: Neil Sherlock, Partner, Head of Reputational Strategy, PwC Bjornar Lund, Chairman of Management Board and CEO, AB DNB Bankas Costas Michaelides, Global Head of Strategic Change, UBS Group Sue Langley, CEO, UK Financial Services, FSIO, UK Trade & Investment Giles Williams, Partner, Head of EMA Regulatory Centre of Excellence, KPMG Questions & Answers Session

11:00

Networking and morning coffee

11:30

Session two: Financial sector regulatory reforms in the UK after the banking union and the PCBS report: The impact on UKFS’s international competitiveness, efficiency and financial stability and non-banking activities

Chair: James Nixon, Chief Economist, TheCityUK Simon Gleeson, Partner, Clifford Chance Charles Goodhart, Professor Emeritus of Banking and Finance, LSE David Marsh, Chairman, OMFIF Matthew Fell, Director for Competitive Markets, Confederation of British Industry (CBI) John Siena, Head of EMEA External and Regulatory Affairs, BNY Mellon

Questions & Answers Session 13:00

Networking lunch

14:00

Conference closes

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ORGANISER

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SPEAKERS

Rimantas Šadžius, Minister of Finance, Republic of Lithuania Rimantas Šadžius is the Minister of Finance of the Republic of Lithuania. In 1983 he graduated from Lomonosov Moscow State University, Faculty of Chemistry, and in 2002 graduated from Vilnius University with a master’s degree in law. Rimantas served as Vice Minister of Social Security and Labour in 2003-2004, Vice Minister of Health in 20042006 and Vice Minister of Finance in 2006-2007, as well as the Minister of Finance from 2007 to 2008.

Malcolm Sweeting, Senior Partner, Clifford Chance LLP Malcolm joined Clifford Chance in 1983. He became partner in Clifford Chance's Finance Practice in 1990, based in London. He has been a leader of the London banking group and was previously a member of the Firm's Partnership Council (1991-1993) and since January 2011 Senior Partner. He is European Advisory Board Member of Cheung Kong Graduate School of Business; Advisory Board Member of TheCityUK; Advisory Board Member of Heart of the City Charity and Fellow of the 48 Club.

Matthew Fell, Director for Competitive Markets, CBI Matthew Fell is Director for Competitive Markets, with responsibility for leading the CBI’s work on markets in the public and private sectors. Matthew joined the CBI in July 1999 as senior policy adviser for manufacturing and was appointed head of Enterprise in August 2002, with responsibility for CBI policymaking on small and medium-sized firms and entrepreneurial issues. Prior to taking up his current role, Matthew was head of Corporate Affairs at the CBI, with specific responsibility for regulatory and parliamentary affairs and helping to co-ordinate the CBI's broader work programme. Matthew is a member of the CBI’s Management Board, and in 2011 led the development of the CBI’s new web site.

Simon Gleeson, Partner, Clifford Chance Simon Gleeson joined Clifford Chance in 2007 as a partner in the firm's Financial Regulation group, where he specialises in financial markets law and regulation. He has advised Governments, regulators and public bodies as well as banks, investment firms, fund managers and other financial institutions on a wide range of regulatory issues. He advised the World Economic Forum on their report on their 2009 Report on The New Global Financial Architecture, and has worked with regulators and governments around the world on the establishment of regulatory regimes. He has been a member of the Financial Markets Law Committee, chairs the Institute of International Finance's Committee on Cross-Border Bank Resolution, has written numerous books and articles on financial regulation, and is the author of "International Regulation of Banking", recently published by Oxford University Press.

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Charles Goodhart, CBE, FBA, Professor Emeritus of Banking and Finance, LSE Charles is Emeritus Professor of Banking and Finance with the Financial Markets Group at the London School of Economics, having previously, 1987-2005, been its Deputy Director. Until his retirement in 2002, he had been the Norman Sosnow Professor of Banking and Finance at LSE since 1985. Before then, he had worked at the Bank of England for seventeen years as a monetary adviser, becoming a Chief Adviser in 1980.

In 1997 he was appointed one of the outside independent members of the Bank of England's new Monetary Policy Committee until May 2000. Earlier he had taught at Cambridge and LSE. Besides numerous articles, he has written a couple of books on monetary history; a graduate monetary textbook, Money, Information and Uncertainty (2nd Ed. 1989); two collections of papers on monetary policy, Monetary Theory and Practice (1984) and The Central Bank and The Financial System (1995); and a number of books and articles on Financial Stability, on which subject he was Adviser to the Governor of the Bank of England, 2002-2004, and numerous other studies relating to financial markets and to monetary policy and history.

His latest books include The Basel Committee on Banking Supervision: A History of the Early Years, 1974-1997, (2011), and The Regulatory Response to the Financial Crisis, (2009).

Sue Langley, CEO UK Financial Services, FSIO, UK Trade & Investment Sue Langley is the CEO of UK Financial Services – UKTI and a Non-Executive Director for UK Asset Resolution. Previously she was Director of Market Operations and a member of the Executive Group for Lloyd's of London, Chairman of Lloyds Japan and Director of Lloyd’s Asia. Prior to this Sue was Chief Operating Officer and a member of the Executive Team for the Hiscox Group, joining from PriceWaterhouseCoopers Consultancy. Sue is a member of the Government’s Women in Business Council and a Vice President of the Insurance Institute of London (IIL), receiving the IIL President’s Award in recognition of her contribution to the Institute and a previous recipient of the Women in the City Achievement Award.

The Financial Services Investment Organisation (FSIO) will attract high value investment into the UK’s financial services sector. It will take strategic direction from the Treasury-led Financial Services, Trade and Investment Board and will work closely with industry bodies.

Bjørnar Lund, Chairman of Management Board and CEO, AB DNB Bankas Bjørnar Lund (born 1963) has been working as the Chief Executive Officer and the chairman of the Management Board of AB DNB Bankas since May 2011. Bjørnar Lund worked in Norway’s DNB bank ASA since 1987. He has an extensive experience from various managerial positions within corporate and retail operations at DNB. In addition, he has international experience working abroad as head of the Nordic Desk in DNB bank ASA Singapore. Bjørnar Lund has a Master’s degree in Science of Business from BI Norwegian School of Management. AB DNB Bankas, fully owned by Norway’s largest financial institution DNB, is a universal commercial bank that provides a comprehensive range of financial services to more than 800 000 individual and corporate customers in Lithuania.

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David Marsh, Chairman, OMFIF David Marsh is Chairman and Co-Founder of OMFIF. He is Senior Advisor to Londonbased asset management company, Soditic CBIP LLP, Chairman of the Advisory Board of independent investment bank, London & Oxford Capital Markets and Chairman of management consultancy, SCCO International. Previously, he worked for City merchant bank, Robert Fleming, corporate finance boutique, Hawkpoint and German management consultancy, Droege. Between 1978 and 1995 he worked for the Financial Times in France and Germany as European Editor. Marsh is a Board Member of Henderson Eurotrust, the British Chamber of Commerce in Germany and the Institute for Corporate Cultural Affairs, Deputy Chairman of the German-British Forum, Advisory Board Member of Centre for European Reform and visiting Professor at Sheffield University.

He was made Commander of the British Empire in 2000 and was awarded the German Order of Merit (Bundesverdienstkreuz) in 2003. Marsh has written five books: 'Europe's Deadlock: How the Crisis Could Be Solved - And Why It Won't Happen' (2013); 'The Euro – The Politics of the New Global Currency' (2009 – re-released in 2011 as 'The Battle for the New Global Currency'); 'Germany and Europe – The Crisis of Unity' (1994); 'The Bundesbank – The Bank that Rules Europe' (1992); and 'Germany – Rich, Bothered and Divided' (1989). He is a frequent media commentator in Europe and the US.

Costas Michaelides, Global Head of Strategic Change, UBS Group Costas Michaelides is Global Head of Strategic Change at UBS. Before this role, Costas was the Credit Suisse Chief Operating Officer for the EMEA region and before that the CSFB Chief Operating Officer for EMEA. Costas joined Credit Suisse during the merger with DLJ where he was Chief Operating Officer International. Before, Costas was Chief Financial Officer and Chief Administrative Offer for Merrill Lunch in EMEA. Prior to these positions, Costas held senior Treasury roles at Salomon Brothers and Exxon.

Costas holds a BA in Economics and Political Science, a Master's in Economics, a Master's in Business Administration (Finance), and a PhD in International Affairs. Costas was a Fulbright Fellow and a Bronfman Fellow. He held several board positions and served on the Board of British Bankers Association.

James Nixon, Chief Economist, TheCityUK James joined TheCityUK in September 2013 to take on the new role of Chief Economist.

James brings to TheCityUK extensive experience from both the private and public sectors, having previously been Chief European Economist at Société Générale CIB. Before his move to investment banking, James held senior positions at both the Bank of England and the European Central Bank where he was responsible for coordinating the respective institutions’ forecasts. Before this James held a position as a Research Fellow at London Business School, having begun his career as a forecaster in HM Treasury.

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Neil Sherlock, Partner, Head of Reputational Strategy, PwC Neil Sherlock was appointed in July 2013 as the PwC Partner, Head of Reputational Strategy. Neil served in the current Coalition Government as a special adviser to the Deputy Prime Minister, Rt Hon Nick Clegg MP covering business issues and political reform. On leaving Oxford University after gaining a first class degree in Philosophy, Politics and Economics and being President of the Oxford Union Neil joined KPMG and was a Partner from 1999-2011. Neil has been a member of the Armed Forces Pay Review Body, served on the Alan Milburn Commission which looked at social mobility within the professions and was the Chair of the charity Working Families. He is married to Baroness Parminter and they have two daughters at school.

John Siena, Assistant General Counsel, Head EMEA External & Regulatory Affairs, The Bank of New York Mellon John is based in London and heads The Bank of New York Mellon’s Office of External and Regulatory Affairs for the EMEA region. He advises BNY Mellon’s EMEA Executive Management on regulatory and legislative matters and oversees and advises on regulatory strategy and interacting with policy makers as necessary. John is responsible for interaction with regulatory and government authorities, industry associations and committees and for the continuous evaluation of all legal and regulatory matters of importance to BNY Mellon. He also currently lectures at King’s College London, on Financial Law and Institutional Investment, an LL.M. course covering legal aspects of financial transactions undertaken by institutional investors. John received his Juris Doctorate at the University of Virginia School of Law (1988) and his undergraduate degree (B.A.) at the University of Illinois at Urbana-Champaign (1985).

In addition to participating in various industry associations, governmental and legal bodies, he serves as Chair of the European Focus Group, Association of Global Custodians (AGC), and as Chair of the Legal Committee of Association for Financial Markets in Europe (AFME). He also sits on AFME’s Prudential Regulation Board and is a country representative in the European Trustee and Depositary Forum (ETDF).

John was admitted to the Illinois Bar in 1988.

Giles Williams, Partner, Head of EMA Regulatory Centre of Excellence, KPMG Giles leads KPMG’s Financial Services Regulatory Centre of Excellence for the EMA region, providing specialist advice to clients on how to respond to the breadth of regulatory developments. He regularly engages with regulators, policymakers and task forces on the major initiatives designed to improve financial stability, transparency and trust. This enables him to bring a wide and practical perspective to discussions on key financial, regulatory, operational and corporate governance issues. Giles has worked extensively with major financial services firms to help them execute global programmes as they deal with the challenges of a fast changing global market, particularly in relation to the changing regulatory agenda.

He has worked with clients across Europe, the United States and Asia Pacific.

IBDE – Integrating World Markets

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Rudi Guraziu, Chief Executive, IBDE Rudi is founder and Chief Executive of IBDE (International Business and Diplomatic Exchange). He is a member of the International Steering Group & Thematic Board of the International Festival for Business 2014. Rudi was one of the principals in the running of a large pharmaceutical business for a decade until 2000. For many years, following that, he has been actively engaged with business leaders and diplomats as an expert on international affairs. Before founding IBDE, he initiated the establishment of the Centre for Business and Parliamentary Dialogue. For much of that time he has worked with different parliaments particularly in the relationship between legislative bodies and economic operators. His expertise covers trade & investment promotion, international affairs with a particular focus on EU affairs, public policy, financial services, political risk, business and commercial diplomacy. His research interests are in exploring the impact of international events and turning crises into opportunities. He holds an MA in International Relations (distinction).

ABOUT IBDE International Business and Diplomatic Exchange (IBDE) is a London based non-profit organisation, whose aim is to provide leadership in promoting international trade and investment flows through facilitating dialogue and resource-sharing between the global business, policy-making and diplomatic communities - providing an independent, accessible platform for debate on international business and political issues impacting global markets. Through selected events such as investment forums, round-tables, workshops, conferences, seminars and networking opportunities, IBDE supports international businesses in identifying key business and investment opportunities and strategies within the international economic and political context.

IBDE prides itself for its excellent partnerships with prestigious institutions and organisations such as European Union, City of London, Foreign & Commonwealth Office, Embassies and Corporates as well as leading academic institutions such as University of Oxford, UCL, University of East Anglia, Cass Business School etc. IBDE’s overarching concept, linking commerce with policymaking, academia and diplomacy at all levels, commits the organisation to using its influence to help both businesses and embassies secure new business, trade and investment opportunities.

IBDE is proud to be the official partner of the International Festival for Business (IFB) 2014. The IFB, the first of its kind for more than a generation, will be an “Olympics for Business” with over 100 world-class events from June to July 2014 in Liverpool. It will attract more than 250,000 business delegates from across the globe. The Festival is officially supported and funded by the UK Government and Prime Minister The Rt Hon David Cameron MP has offered his full personal support.

Contact: International Business and Diplomatic Exchange 1 Northumberland Avenue, Trafalgar Square, London WC2N 5BW, United Kingdom Tel: +44 (0) 20 7193 1485 Fax: (+44) 0 20 3318 9199 - Email: info@ibde.org Website: www.ibde.org

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FORTHCOMING EVENTS The First Transatlantic Trade & Investment Partnership Forum Exploring Benefits & Pitfalls of the EU-US Trade Agreement Date: 12 December 2013 Time: 13:00 - 18:00, followed by a networking reception Venue: Europe House, London SW1P The European Energy Forum Energy Infrastructure & Security Challenges and Solutions for Europe Date: 16 January 2014 Time: 09.00 -17.00, followed by networking reception Venue: Great Hall, King's College London, Strand, London WC2R Organised in partnership with the European Centre for Energy and Resource Security (EUCERS) 4th International Banking and Finance Forum Restoring Confidence in Financial Services Date: 13 February 2014 Time: 08.30 - 13.00, followed by a networking lunch Venue: Thomson Reuters, Canary Wharf, London Global Economic Forum 2014 Exploring Strategic Business & Investment Opportunities Date: 16-17 June 2014 Venue: Liverpool, UK Part of the International Festival for Business 2014 programme 5th International Banking & Finance Forum Restoring Growth and Confidence in World Markets Date: 2–3 July 2014 Venue: Liverpool, UK Part of the Intentional Festival for Business 2014 programme Global PPP Forum Examining the Future of PPPs & Project Finance in the World Date: July 2014 Venue: Liverpool, UK Part of the International Festival for Business 2014 Speaking, sponsorship and exhibition opportunities are available for the above events.

For details please contact us at events@ibde.org or ring 020 7193 1485

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IBDE – Integrating World Markets

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Invest Lithuania is a government agency that provides free advice and introductions to experts on the ground for global companies interested in doing business in Lithuania. The agency serves as a point of contact for foreign companies and guides international businesses through every step of the process of setting up operations in Lithuania.

Invest Lithuania also provides information on Lithuania's highly skilled yet cost-competitive labour force, tax incentives and financing options. The agency has worked with numerous well-known global companies that have taken advantage of many incentives to expand their businesses by placing some aspects of their operations in Lithuania.

Amongst our clients are Western Union, Barclays, Euromonitor International, Citco, Thermo Fisher Scientific, IBM, Coca-Cola, IKEA, Philip Morris Baltic, Computer Science Corporation (CSC) and Teva Pharmaceutical Industries. www.investlithuania.com

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International Law Firm of the Year Chambers Global Awards 2013 Clifford Chance LLP

“We were unanimous in our decision,” said Chambers & Partners. “Clifford Chance’s continued international expansion and involvement in cutting-edge deals and cases has earned it this much coveted title of International Law Firm of the Year.”

CITY OF LONDON The World's Pre-eminent Financial Centre

Integrating World Markets Principle Objectives:  to provide assistance in increasing international trade and investment flows  to identify and promote new business opportunities and to support wealth creation  to promote sound investment practice  to promote responsible banking and finance  to promote project finance and public private partnerships  to promote good governance and corporate social responsibility  to promote the concept of business and commercial diplomacy  to provide assistance in integrating developing countries into the global markets  to undertake research to support our promotional activities

MEMBERSHIP For membership packages please contact us at: info@ibde.org or visit our website

International Business and Diplomatic Exchange 1 Northumberland Avenue, Trafalgar Square, London WC2N 5BW Tel: 020 7193 1485 Email: info@ibde.org

Fax: 020 3318 9199 Web: www.ibde.org