Inaugural Symposium:
Financial Centres of the Future -- What Role for Australia?
Tuesday, May 20, 2008
Park Hyatt, Melbourne
Arranged by: Melbourne Centre for Financial Studies
In association with: IFSA, AFMA, ABA and Finsia
Sponsored by: National Australia Bank
AGENDA
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Welcome and introduction: Richard Gilbert, CEO, Investment and Financial Services Association
Keynote opening speaker: John Stewart, Group CEO, National Australia Bank
"Why Australia should aspire to be a global financial services centre" |
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Panel 1: Characteristics of International Banking Centres
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Chair: David Bell, Chief Executive, Australian Bankers' Association
* Steven Gregg, Director, McKinsey & Co
* Prof Ian Harper, Executive Director, Centre for Business and Public Policy, Melbourne Business School
* Prof Michael Skully, Professor of Banking and Finance, Monash University |
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This session considered the characteristics of international banking centres and assess Australia's position in the region. The panel explored banking opportunities for Australian based institutions across a range of services. Finally, speakers considered reform options that would enable Australia to more effectively compete in the region. |
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Panel 2: The export potential of Australian Funds Management Services |
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Chair: Dr Martin Fahy, Chief Executive Officer, Financial Services Institute of Australasia
* Stephen Dunne: CEO, AMP Capital Investors
* Prof Kevin Davis, Director, Melbourne Centre for Financial Studies
* Dr Don Russell, Director Institutional Investment, BNY Mellon Asset Management
* Barrie Dunstan, Bureau Chief, Melbourne Australian Financial Review |
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Australia's funds management sector is one of the largest and most sophisticated in the world, with around $1.3 trillion under management. Australia is also fortunate to be in the same time zone as many of the region's fastest growing economies. Additionally, many of these economies are undergoing pension system reforms at the same time as modernising their financial markets and financial regulatory systems. |
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Against this backdrop, the panel considered the export potential of the Australian funds management sector and highlighted the tax and regulatory challenges faced by the sector in seeking to increase funds management exports. |
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Panel 3: Regional growth and financial services opportunities |
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Chair: Australian Financial Markets Association representative, Chris Dalton, Managing Director, Standard & Poor's, Australia and New Zealand
* Stuart Crosby: CEO, Computershare
* Jeremy Duffield, Managing Director, Vanguard Investments Australia
* Philip Gardiner, Managing Director Institutional Business, Goldman Sachs JBWere Asset Management
* Sally Capp, Chief Executive Officer, Committee for Melbourne |
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The panel explored the range of opportunities available for Australian financial services firms in the region. The panel provided their views on regional markets and their growth potential. Speakers commented on the opportunities available to a broad range of complementary and enabling service providers to the industry as cross-border financial services activity increases. |
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Keynote closing address: |
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Introduced by Prof Kevin Davis Director, Melbourne Centre for Financial Studies
Keynote closing speaker: The Hon Dr Craig Emerson MP, Minister for Small Business, Independent Contractors and the Service Economy and Minister Assisting the Finance Minister on Deregulation
"The role of Government in developing a global financial services centre" |
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Conclusion
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Gallery
(Please click picture for large view)
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Richard Gilbert |
John Stewart |
John Stewart |
John Stewart and audience |
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John Stewart and media |
Roger Love and Bala Balachandran |
David Bell and John Unkles |
David Bell |
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Prof. Michael Skully |
Steven Gregg |
Steven Gregg |
Prof. Ian Harper and panel |
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Prof. Ian Harper |
David Bell and panel |
Steven Gregg, David Bell, Prof. Michael Skully and Prof. Ian Harper |
Dr. Martin Fahy |
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Barrie Dunstan |
Dr. Don Russell |
Dr. Don Russell |
Stephen Dunne |
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Prof. Kevin Davis |
Prof. Kevin Davis |
Prof. Kevin Davis, Dr. Don russell, Barrie Dunstan and Stephen Dunne |
John Moutsopoulos and Andrew Francis |
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Jacqui Cincotta and Malindi Mishra |
Chris Dalton |
Philip Gardner |
Jeremy Duffield |
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Stuart Crosby |
Stuart Crosby |
Sally Capp |
Sally Capp |
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Philip Gardner, Sally Capp, Chris Dalton, Jeremy Duffield and Stuart Crosby |
The Hon Dr Craig Emerson MP |
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