Since the ‘financial crisis’ of 2007-08, the future sovereign debt crisis in the European Union, and numerous financial scandals over the past two years – such as the mis-representation of Libor by banks such as Barclays, and major trading losses by J.P. Morgan’s London trading desk – significant questions of confidence have been raised concerning the viability of the system. The most substantive response to the credit crisis, as well as the sovereign debt crisis has been to strategize new, effective policy measures to restrict the proprietary trading activities of retail banks as well as to ensure adequate capital ratios in the case of future systemic shocks as part of Basel III. Despite the stress and lack of confidence in the system, global financial markets still remain the most important method of allocating capital in order to receive a return on investment and raise capital for projects and ventures. How, then, can the practice of finance be conducted in such a way that causes the minimum amount of systemic risk – risk to taxpayers, individuals and sovereigns – while continuing to provide liquidity where needed? In order to achieve this, how should the ‘banks be broken up’, that is to restrict certain corporate structures or risky activities in order to ensure solvency? Should further regulation be applied to the ‘shadow’ banking sector that, according to the New York Federal Reserve Bank, had over $15 trillion in liabilities in 2011? Is current regulation, in fact, suitable for the complexity of financial markets? Lastly, what is the role of financial innovation in this changed landscape?
Mr. Edmond Alphandéry sits on the Board of GDF SUEZ and is the President of its Strategic Committee. He served as Chairman of CNP Assurances in Paris from 1998 to 2012.
Prior to this appointment he was Chairman of Electricité de France. From 1993-1995 he worked as a Minister of the Economy in the Government of Edouard Balladur, where he launched a widespread program of privatization, including BNP, Elf, and Renault, and gave its independence to the Banque de France.
Mr. Alphandéry graduated in 1966 from Institut d’Etudes Politiques de Paris, and after studying at the University of Chicago and the University of California, Berkeley, he obtained his French Ph.D. in Economics in 1969 and his “Agrégation” in Political Economy in 1971.
He served as a Professor of Political Economy at the University of Paris. A former Member of the Consultative Committee of RWE AG, Mr. Alphandéry is presently a Board Member of Crédit Agricole CIB, of NEOVACS and sits on the European Advisory Panel of NOMURA Securities.
He also attends the Consultative Committee of the Banque de France and belongs to the French section of the “Trilateral Commission”.
He is the author of numerous articles and books devoted to economic and monetary affairs, as well as the founder of the “Euro50 Group” which gathers leading European personalities concerned with monetary policy of the European Central Bank.
With 15 years experience in digital journalism, as an editor, writer and blogger, Mr. Greg Bartalos is currently Editor-in-Chief of Barrons.com, the online complement to Barron's, the premier financial news magazine since 1921. Mr. Bartalos, who was Senior Editor of Barrons.com from 2001 to 2005, returned in 2008 to oversee the site's editorial content, partner relations and social media efforts.
Mr. Bartalos, based in New York, worked previously at Yahoo! Finance, as News Editor and Assistant Managing Editor, and at Bloomberg News as a reporter. He also was Managing Editor of Individual Investor Online and a reporter for Institutional Investor.
He has spoken at the Forbes.com Online Brand Leadership Forum about digital journalism and at an American Business Media panel discussion titled “It’s All About Search: Partnering to Get the Most Exposure for Your Content.” He also was a judge for the Jesse H. Neal National Business Journalism Awards.
Mr. Bartalos also contributes to the website for the Big Takeover, one of America’s oldest independently-produced music magazines. A graduate of Boston University, he lives in Scarsdale, NY, with his wife, Myra, and daughter, Clara.
Sir Paul is the Chairman of Schroder Income Growth Fund plc and a Director of ENRC plc, of the United Kingdom Accreditation Service, of Tempur-Pedic International Inc of Kentucky and of Abraaj Capital of Dubai.
His honorary offices include being an Alderman of the City of London, the President of the Chartered Institute of Marketing and of the Association of MBAs, the Chairman of the British-North American Committee, of the North American Advisory Council at the Royal Institute of International Affairs at Chatham House, of the British-Serbian Chamber of Commerce, of the Enterprise Education Trust, of the Museum of Brands and of St Dunstan’s College and Deputy Chairman of the American Management Association based in New York. He is a Member of the Togolese President’s International Advisory Council and a Member of the Advisory Boards for the UK-India Business Council, for HEC in Paris, for the Athens University of Economics and Business and for RANEPA in Moscow and is a Member of the Council of the Crown Agents. He has honorary degrees from Cambridge, Westminster and City universities.
Following his education at Cambridge University and at the Wharton Business School, Sir Paul worked for Cadbury Schweppes and then led the buyout of their food interests to form Premier Brands which was successfully sold in 1989. He was subsequently Chairman of Food from Britain, Director General of the Conservative Party and a Ministerial Adviser at the Cabinet Office. He has more recently been President of the Chartered Management Institute (2004-5), Chairman of the Royal Society of Arts (2003-6), Master of the Worshipful Company of Marketors (2005-6), Chairman of Teachers TV (2005-8), a Member of the Higher Education Funding Council for England (2008-2010) and a Director of Standard Bank Group Ltd of Johannesburg (2003-12). He was the key benefactor of the Judge Business School at the University of Cambridge.
As CEO, Jim Leech is responsible for the investment management and administration of the pensions of the 300,000 Ontario Teachers’ Pension Plan members.
Mr. Leech joined Teachers’ in 2001 to lead Teachers’ Private Capital and was appointed President and CEO in2007. Under his leadership, Teachers’ Private Capital became one of the world’s leading private equity investors.
He has a solid reputation for building successful businesses with strong management teams. He was previously the President and CEO of Unicorp Canada Corporation, one of Canada's first public merchant banks, and Union Energy Inc., then one of North America's largest integrated energy and pipeline companies.
He holds a B.Sc. (Honours Math and Physics)from the Royal Military College of Canada and an MBA from Queen's University, and is a graduate of the Institute of Corporate Directors.
Mr. Leech serves on the boards of Toronto General and Western Hospital Foundation, the MasterCard Foundation and was a founding director of Right To Play International. He also chairs the advisory board of the Queen's School of Business and participates onthe advisory board for The Learning Partnership, the advisory council for the Toronto Board of Trade and the Toronto Financial Services Leadership Council.
He is a recipient of the Queen's Diamond Jubilee medal in recognition of his work with the True Patriot Love Foundation.
Mr. Roy Niederhoffer graduated magna cum laude from Harvard in 1987 with a degree in Computational Neuroscience. After working for another hedge fund for 5 years, he founded R. G. Niederhoffer Capital Management, Inc. (“RGNCM”), in 1993. Since then, RGNCM has employed a quantitative, behavioral finance-based strategy to trade equities, fixed income, foreign exchange and commodities to provide returns that are both valuable on a stand-alone basis and also provide significant downside protection to clients' portfolios.
Mr. Niederhoffer also serves on the Board of several arts organizations including the New York City Opera and the Harmony Program. He is an accomplished classical and jazz pianist, plays violin with the Park Avenue Chamber Symphony, and is an avid skier. He, his wife and his three children reside in New York City.
Dr. Richard Robb
Dr. Richard Robb is CEO of Christofferson, Robb and Company, a New York and London-based investment management firm that invests in credit and renewable energy markets in Europe and emerging markets.
In addition, he is a Professor of Professional Practice in International Finance at Columbia's School of International and Public Affairs (SIPA), where he teaches courses in microeconomics, economic foundations of capital markets and finance. Prior to arriving at SIPA in 2001, he was the global head of the derivatives and securities subsidiaries of the Dai-Ichi Kangyo Bank, Ltd.
His publications include "Testing the Mixture of Exponential Hypothesis and Estimating the Mixing Distribution by the Method of Moments," with James Heckman and J. R. Walker in the Journal of the American Statistical Association (1990) and "Alternative Methods for Evaluating the Impact of Interventions: An Overview" with James Heckman in the Journal of Econometrics (1985).
Dr. Robb holds a BA from Duke University (1981) and a PhD in economics from the University of Chicago (1985).
Leo M. Tilman is a recognized authority on financial markets,corporate strategy,and risk management and President of L.M. Tilman & Co., a strategic advisory firm that serves governments, financial institutions, corporations, and institutional investors worldwide. Through thought leadership in finance and risk management, L.M. Tilman & Co. helps its clients create lasting economic value. Prior to founding the firm, he held senior positions with BlackRock as well as Bear Stearns, where he was Chief Institutional Strategist and Senior Managing Director.
Mr. Tilman teaches graduate-level finance at Columbia University and is the author of three books translated into several foreign languages: Financial Darwinism (2009), Asset/Liability Management (2003), and Risk Management (2000.) In 2010, in collaboration with the Nobel economist Edmund Phelps, he co-authored a Harvard Business Review proposal to create of the First National Bank of Innovation – a novel financial institution dedicated to financing innovative entrepreneurial projects and fostering economic dynamism.
Mr. Tilman has been profiled as a Business Visionary by Forbes, a distinction given to “influential authors, decision makers, and thought leaders in the field of business.” He is a contributing editor of The Journal of Risk Finance and serves on the advisory board of the Center on Capitalism and Society at Columbia University and on the board of directors of Atlantic Partnership. Mr. Tilman was honored by the World Economic Forum among a select group of executives, public figures and intellectuals recognized for “their professional accomplishments, commitment to society and potential to contribute to shaping the future of the world.” He holds B.A. and M.A. degrees in mathematics from Columbia University and has completed executive education.
Dr. Paul Wilmott
Mr. Paul Wilmott is the founder of Wilmott Magazine and Wilmott.com and is a financial consultant specializing in derivatives, risk management and quantitative finance. He has worked with many leading US and European financial institutions. Dr. Wilmott founded the Diploma in Mathematical Finance at Oxford University and the journal Applied Mathematical Finance.
He is the author of “Paul Wilmott Introduces Quantitative Finance” (2007), “Paul Wilmott on Quantitative Finance” (2006), “Frequently Asked Questions in Quantitative Finance” (2009) and other financial textbooks. He has written over 100 research articles on finance and mathematics.
He was also a founding partner of the volatility arbitrage hedge fund Caissa Capital which managed $170 million and which was regularly ranked leader in its class. His responsibilities there included forecasting, derivatives pricing, and risk management.
Dr. Wilmott is the proprietor of www.wilmott.com, the popular quantitative finance community website, the quant magazine “Wilmott” and is the Course Director for the Certificate in Quantitative Finance. He studied mathematics at St Catherine’s College, Oxford, where he also received his PhD.