Investment Advisory Summit, Hong Kong 2013
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|8:30am – 9:00am||Registration and Coffee|
|9:00am – 9:05am||Welcome and opening comments
Editor, Asian Private Banker
|9:05am – 9:40am||Session 1 | Keynote address
Executive Director, Enforcement Division
Securities and Futures Commission
|9:40am – 10:20am||Session 2 | Opportunities for Asian investors
In treacherous mountain passes and unchartered territory, the navigator must proceed with care. Having a ‘blind spot’ can be lethal. As market sentiment selectively improves, we review opportunities and challenges for investors across a range of asset classes, products and structures. We explore how the professionals covering this growing sector can adjust to the market, regulatory and demographic transformations.
Bernard Wai, Head of Private Investor Product Sales Asia,
Osamu Takashima, Head of Japan FX Strategy,
|10:20am – 10:50am||Coffee break|
|10:50am – 11:30am||Session 3 | Regulatory headwinds for private banking: Which way are they blowing?
Management responsibility, open communication, and transforming culture: Hong Kong, Singapore and regional perspectives on these regulatory preoccupations and how these preoccupations are changing regulators’ behaviour, and how to manage the risks.
Private banking is a key growth area for many global financial institutions, particularly in Asia where the market is not as developed and personal wealth is on the rise. With a host of new regulations in place on both a local and international level, what are its effects on private banking? We will examine some of the recent private bank mis-selling cases in Hong Kong and Singapore, and the impact these decisions will have on both private banks and their clients. Will the courts’ views signal a need for stronger regulation or will the current ones suffice and what can the private banking industry expect in the next few years?
Donna Wacker, Partner, Clifford Chance
Edward Johnson, Senior Associate, Clifford Chance
|11:30am – 12:10pm||Session 4 | Buy hard
To dispel the myth surrounding Europe and Japan and take a closer look into some of the attractive value propositions these places offer to investors. For some time now, investors have been rightly afraid to invest in any of these two places for various reasons. Europe, for example, has been penalised by the worsening political situation. But below the headline risks, a lot of great companies are continuing to generate steady profits, thanks to their diversification of businesses and broader clients coverage. Finding those pearls has been very rewarding recently and we believe it is a good time to go fishing for more. In Japan the situation is different but with a new government in place and a central bank looking to boost growth, it might also be a good time to play this theme. And it may be the right one this time!
Richard Mak, Managing Director,
Belle Liang, Head of Investment Advisory,
|12:10pm – 12:50pm||Session 5 | Building global Private Banking models to prepare for the elimination of inducements.
As regulators globally begin to focus on inducements, the business model of private banks and asset managers is set to undergo fundamental change. While the full impact of the changes is unclear, it is likely that inducements in their current form will no longer exist. In Europe, where advice or discretionary portfolio management is on an ‘independent basis’, the acceptance of fees, commissions or nonmonetary benefits will be prohibited under MiFiD II Level 1. In addition, individual European countries have been given the freedom to take these eliminations further with the UK and Netherlands choosing to do so.
This has far reaching implications for private banks in Asia. Andrew will share examples of regulatory change in the US, India, and UK, as well as examine the impact of this on the industry as a whole and on Asia in particular. In this light he will discuss the opportunities and challenges private banks in Asia have to build more sustainable business.
Andrew Hendry, Managing Director, Asia,
|12:50pm – 2:30pm||Luncheon|
|12:50pm – 2:30pm||Session 6 | Breakout Session
a. Long-term Savings – Case Studies on Delivering Solutions
b. Partners in growth: Wealth management in the Asian Era
c. Challenges in investing in the emerging markets: Looking beyond BRIC
|3:15pm – 4:15pm||High Tea and networking session|
Credit Suisse Private Banking
Alfred Mak, Head of Investment Products and Advisory Department
Bank of East Asia
Belle Liang, Head of Investment Advisory
Hang Seng Private Bank
Rocky Cheung, Senior Vice President, Head of Investment Team
Private Banking, DBS Bank
Angel Wu, Regional Head of Products & Solutions, Asia
ABN AMRO Private Banking
Pranay Gupta, Chief Investment Officer
Lombard Odier Darier Hentsch (Asia) Limited
Richard Mak, Head of Advisory Services, Asia
Pictet & Cie
Victor Choi, Head of Markets & Investment Solutions, Asia
Credit Agricole Private Banking
Harmen Overdijk, Head of Investments, Asia Pacific
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