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FT US Banking Forum

Right-sizing Financial Regulation

New York |
Speakers include:
Sheila Bair

Sheila Bair

19th Chairman of the FDIC

Richard Davis

Richard Davis

US Bancorp

Bob Mundheim

Bob Mundheim

Shearman & Sterling

Overview

The financial services industry has spent nearly 10 years recovering from the 2008 financial crisis and responding to the plethora of rules, regulations and penalties it spawned. Now, with the surprise election of Donald Trump, the stage is set for a new era of change. The anticipation of this change in a Trump administration has energized the US business climate as evidenced by the bullish stock market, strengthening of the US dollar and the Federal Reserve’s tighter monetary policy. Hopes of corporate tax reform and infrastructure investment have companies considering ways to spend their cash stockpiles beyond dividend payments and stock buy backs. The financial community is particularly giddy with anticipation of an environment where costly and restrictive regulations may be relaxed if not repealed altogether.

As a well-respected and independent voice in the global banking sector, the Financial Times will convene high-level executives in the banking and asset management industries in New York to explore potential legislative and regulatory changes, their market implications, and what financial institutions and their advisors can do to influence Trump’s promised reshaping of the legal landscape. The event will bring together peer-level leaders from major US and international banks and asset managers, large regional banks, government officials and select service providers including law firms, accounting firms, consultancies, data and technology providers. The agenda will reflect timely opportunities and challenges in global financial services as the Republican majority Congress and Team Trump negotiate and potentially execute a reform agenda.

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fallback Add to my Calendar 09/12/2017 09:00:0009/12/2017 18:00:00trueFT US Banking ForumThe financial services industry has spent nearly 10 years recovering from the 2008 financial crisis and responding to the plethora of rules, regulations and penalties it spawned. Now, with the surprise election of Donald Trump, the stage is set for a new era of change. The anticipation of this change in a Trump administration has energized the US business climate as evidenced by the bullish stock market, strengthening of the US dollar and the Federal Reserve’s tighter monetary policy. Hopes of corporate tax reform and infrastructure investment have companies considering ways to spend their cash stockpiles beyond dividend payments and stock buy backs. The financial community is particularly giddy with anticipation of an environment where costly and restrictive regulations may be relaxed if not repealed altogether.As a well-respected and independent voice in the global banking sector, the Financial Times will convene high-level executives in the banking and asset management industries in New York to explore potential legislative and regulatory changes, their market implications, and what financial institutions and their advisors can do to influence Trump’s promised reshaping of the legal landscape. The event will bring together peer-level leaders from major US and international banks and asset managers, large regional banks, government officials and select service providers including law firms, accounting firms, consultancies, data and technology providers. The agenda will reflect timely opportunities and challenges in global financial services as the Republican majority Congress and Team Trump negotiate and potentially execute a reform agenda.FT-US-Banking-Forum986024883fb28ef47672553d27ef7b8bMM/DD/YYYY

Speakers (8)

Sheila Bair

Sheila Bair

19th Chairman of the FDIC
Richard Davis

Richard Davis

Chairman and Former CEO
US Bancorp

Richard Davis is Executive Chairman and former Chief Executive Officer of U.S. Bancorp, the fifth largest bank in the United States. He has served as Chairman of U.S. Bancorp since  2007 and served as CEO from 2006 to April 2017. He also served as President from  2004 to 2016 and held the role of COO from 2004 to 2006. Mr Davis was previously EVP at Bank of America and Security Pacific Bank prior to joining Star Banc, which was one of U.S. Bancorp’s legacy companies.

During his career, Mr Davis has served as Chairman of the Financial Services Roundtable, Chairman of the Consumer Bankers Association, Chairman of The Clearing House, and representative for the Ninth District of the Federal Reserve, where he was President of its Financial Advisory Committee. 

Mr. Davis also currently serves on the boards of Dow Chemical and Xcel Energy. He also on the board of the National American Red Cross, The Itasca Project, the Minnesota Business Partnership, The Minnesota Institute of Arts, the Twin Cities YMCA, and the University of San Diego. He was  one of three executive co-chairs that made the presentation to the NFL to secure the Super Bowl coming to Minneapolis in 2018. He continues to serve on the 2018 Super Bowl Host Committee.

Bob Mundheim

Bob Mundheim

Of Counsel
Shearman & Sterling
Barbara  Novick

Barbara Novick

Vice Chairman
BlackRock

Barbara G. Novick is Vice Chairman and a member of BlackRock's Global Executive Committee, Corporate Risk Committee and Global Operating Committee. From the inception of the firm in 1988 to 2008, she headed the Global Client Group and oversaw global business development, marketing and client service across equity, fixed income, liquidity, alternative investment and real estate products for institutional and individual investors and their intermediaries worldwide. In her current role, Ms Novick heads the firm's efforts globally on government relations and public policy. In addition, she serves as a board member to the BlackRock Equity-Liquidity and BlackRock Closed End fund families, and is a member of the Executive Committee of the Investment Company Institute.

Prior to founding BlackRock in 1988, Ms Novick was a Vice President in the Mortgage Products Group at The First Boston Corporation. Ms. Novick joined First Boston in 1985 where she became head of the Portfolio Products Team. From 1982 to 1985, Ms. Novick was with Morgan Stanley.

Ms Novick has authored numerous articles on asset management and public policy issues. She is a member of CFA Institute's Future of Finance Advisory Council and MSCI’s Editorial Advisory Board and serves as a Trustee of Cornell University and the HCM Foundation. Ms Novick previously served on the boards of Robert Toigo Foundation (2007 - 2010), UJA-Federation (2009 - 2015) and Westchester Day School (2000 - 2005), served as both Treasurer and Trustee of Westchester Jewish Center (1994 - 2012) and coached in the Westchester Youth Soccer League (1999 - 2015). She earned a BA cum laude in economics from Cornell University.

Scott  Powell

Scott Powell

CEO
Santander US

Scott Powell is CEO of Santander US and Santander Bank. Since joining in 2015, he has been responsible for overall US strategy and management, overseeing Santander's US and Puerto Rico business units, as well as strategy and performance of Santander Bank. Previously, Mr Powell held a variety of senior positions at JP Morgan Chase & Co., including Head of Banking and Consumer Lending Operations, CEO of Consumer Banking and Retail Investments, Head of Consumer Lending, as well as Chief Risk Officer, Consumer. He also spent 14 years at Citi in a variety of risk management roles. Most recently, Mr Powell was Executive Chairman of National Flood Services. Mr Powell holds a BA from the University of Minnesota and an MBA from the University of Maryland. He currently serves on non-profit boards for both the Phipps Houses and The End Fund in New York City.

John Savercool

John Savercool

Managing Director
UBS Americas

John Savercool serves as Senior Lobbyist and Managing Director of UBS Americas, which covers all of the primary business units within UBS, including the Investment Bank, Wealth Management and Global Asset Management. In this capacity, Mr Savercool directs the firm's lobbying, political, and policy advocacy efforts at the federal level. He manages a small staff in Washington in support of this mission.

Mr Savercool is a 23-year veteran of Capitol Hill. He began his career with U.S. Congressman Mike Oxley, a Republican from Ohio and former chairman of the House Financial Services Committee. He then embarked on a 17-year career with then-U.S. Congressman Phil Gramm (Texas), who won election to the U.S. Senate in 1984. Mr Savercool joined Senator Gramm and worked with him until 1999 in a variety of capacities, including legislative assistant and deputy chief of staff. He also served as interim chief of staff for U.S. Senator Kay Bailey Hutchison in 1993.

In 2003, Mr Savercool was selected by UBS to become the firm's first full-time, senior lobbyist to direct the firm's advocacy activities in Washington. John also directs the firm's political action committee and manages the firm's political relationships in Washington. In 2006, he was appointed to the select UBS Investment Bank Operating Committee, which provides overall senior-level guidance to the bank in all facets of its operation.

Mr Savercool is a graduate of Frostburg State University (Maryland) and has played leadership roles in a number of federal, state and local political campaigns in Maryland and Texas.

Hal Scott

Hal Scott

Nomura Professor and Director of the Program on International Financial Systems (PIFS); Director of the Committee on Capital Markets Regulation
Harvard Law School

Hal Scott is the Nomura Professor and Director of the Program on International Financial Systems (PIFS) at Harvard Law School, where he has taught since 1975. He teaches courses on Capital Markets Regulation and International Finance. Professor Scott is also the Director of the Committee on Capital Markets Regulation, a bi-partisan non-profit organization dedicated to enhancing the competitiveness of US capital markets and ensuring the stability of the US financial system via research and advocacy. Additionally, he is a member of the Bretton Woods Committee, a member of the Market Monitoring Group of the Institute of International Finance, a past President of the International Academy of Consumer and Commercial Law, a past Governor of the American Stock Exchange (2002-2005), and a past independent director of Lazard, Ltd (2005-2016).  Professor Scott is the author of Connectedness and Contagion: Protecting the Financial System from Panics (MIT Press, 2016). His previous books include International Finance: Transactions, Policy, and Regulation (21st Edition, Foundation Press 2016) and The Global Financial Crisis (Foundation Press, 2009).

Ellen Zimiles

Ellen Zimiles

Managing Director
Navigant

Ellen Zimiles is a managing director and head of Navigant’s Global Investigations and Compliance practice as well as the Financial Services Advisory and Compliance segment leader. She has more than 30 years of litigation and investigation experience involving many high-profile money laundering, fraud, and forfeiture cases. 

Ms Zimiles is a leading authority on Foreign Account Tax Compliance Act and an internationally recognized expert in anti-money laundering program development, corporate governance, regulatory and corporate compliance, fraud control, and public corruption matters. She has worked with a multitude of financial institutions preparing for regulatory exams, developing remediation programs, and serving as regulatory liaison.

As an assistant U.S. attorney in the Southern District of New York for more than 10 years, Ms Zimiles served in the civil and criminal divisions and was chief of the forfeiture unit for more than six years. In recognition for her contributions as a federal prosecutor, Ms Zimiles received the Department of Justice’s John Marshall Award for Outstanding Service and the Department of Health and Human Services’ Integrity Award.

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Chair and Moderators (3)

Martin Arnold

Martin Arnold

Banking Editor
Financial Times

Martin Arnold has worked for the Financial Times since 1999 and been Banking Editor since January 2014, leading the FT's global coverage of banks and overseeing the 10-person financial services reporting team. His two previous jobs were as Deputy Companies Editor, helping to oversee the corporate coverage online and in print, and as Private Equity Correspondent, when he won the BVCA award of private equity correspondent of the year for 2007. Before that, he spent five years as Paris Correspondent, covering the French political scene, the presidential elections, and several industry sectors including finance. Early on in his career he covered technology for FT.com in London and worked in New York covering consumer industries during the dotcom boom and bust of 1999-2000.

Caroline  Binham

Caroline Binham

Financial Regulation Correspondent
Financial Times

Caroline Binham covers the gamut of financial regulation for the FT, from benchmark-rigging scandals to ringfencing. She was previously the FT's award-winning legal correspondent, with a particular focus on white-collar crime. Prior to joining the FT six years ago, Ms Binham covered financial regulation during the crisis at Bloomberg News. In a previous journalistic life, she worked at Conde Nast for titles including Tatler and Traveler. She has lived and worked in Paris, Rome and New York.

Ben  McLannahan

Ben McLannahan

US Banking Editor
Financial Times

Ben McLannahan is US Banking Editor for the Financial Times, covering Wall Street investment banks and other financial institutions. He is based in New York. Previously, Mr McLannahan was a correspondent for three years in Tokyo, where he focused on capital markets and economics. Before that, he covered Asia for the FT's Lex column, based in Hong Kong. He joined the Lex team in London in August 2007 from Institutional Investor magazine, where he served for two years as London correspondent. Before that he was at the Economist Group, writing for a range of publications including CFO Europe and Intelligent Life. He graduated with a Master's degree in English from Cambridge University.

Agenda - 12th Sep

  • 9:00am
    Welcome
  • 9:10am
    Keynote address: Financial Crisis Regulations 10 Years On

    A view of how Dodd Frank, the Volcker Rule and other hallmarks of the dark days following the failure of Lehman Brothers are faring in today’s political climate.

  • 9:40am
    Panel Discussion: The Regulatory Landscape for Asset Managers

    How both independent and bank-owned asset managers view current regulation and increased scrutiny in areas such as liquidity risk management, use of derivatives, swing pricing and disclosure. How have growth, complexity and technology set the stage for new regulation? What new products, fund types and investment strategies are of particular concern to the SEC and other regulatory bodies?

  • 10:30am
    Panel Discussion: The Latest on Banking Legislation, Supervision and Enforcement

    A look at what is happening across the banking spectrum including the big question of whether we are headed into a new Glass-Steagall-type era. Do major banks truly threaten the global economy? Would Glass-Steagall have prevented the financial crisis? Can conflicts of interest and excessive risking-taking be resolved in other ways? What about ring-fencing as in the Vickers system in the UK? Will a bipartisan bill see its way through Congress? What are we hearing from the key regulatory agencies?

  • 11:20am
    Networking Break
  • 11:40am
    Debate: A Look at What’s Driving Action (and Inaction) in Washington

    A review of the current political climate from inside the Beltway. Where's the momentum? Where are we with regulatory reform? Tax reform? Infrastructure spending? Healthcare reform? Will we have another debt ceiling crisis and what affect will it have on the business and political mood of the nation? How might all of this play out in the 2018 midterm elections?

  • 12:30pm
    Interview: The SEC Agenda: Vision, Priorities and Obstacles

    A look into the Commission’s docket and how regulation, revision and enforcement choices are likely to change under the new administration. Will the effort continue to reduce the regulatory burden on issuers including the reduction of duplicate and overlapping disclosure? What about changes that pave the way for more initial public offerings?

  • 1:00pm
    Lunch
  • 2:00pm
    Panel Discussion: Who’s Looking Out for the Consumer?

    Regulation of consumer finance saw dramatic changes after the 2008 crisis. The industry is poised for another major shift. Will there be continued regulatory focus on fair lending compliance and violations? Or will the pendulum swing towards concerns about access to credit and instances of redlining? Will the new administration restrict the scope and authority of the Consumer Financial Protection Bureau? What structural changes can we expect? Dare we hope for long-term stability through legislation such as the Financial Choice Act?

  • 2:50pm
    Panel Discussion: Operations Cost, Risk and Compliance Challenges

    Concerns about IT infrastructure and cyber resilience abound. At the same time, the rising cost of regulatory compliance is putting pressure on banks' and asset managers' productivity and their ability to compete locally and globally. In what ways are operations failures leading to compliance failures and what is being done? What are we seeing in the way of fraud and is AML compliance helping? What product and cost trade-offs are being made? Do innovations in AI, automation and virtual workforces hold promise?

  • 3:40pm
    CEO Forum: The View from the Top

    How leaders feel about the prospects for sustained economic expansion and corporate profits, critical areas of focus, and new threats that could throw the global financial system off course once again. Is the optimistic mood about economic expansion and sustained corporate profits sustainable? What key indicators do you monitor most closely? What threatens to spoil the party? What bubbles are you watching?

  • 4:30pm
    Cocktail Reception
  • 5:30pm
    Close

Who Will I Meet?

This Forum is for senior banking professionals with job titles including: 

  • Chief Risk Officer
  • Chief Operating Officer
  • Chief Compliance Officer
  • Chief Financial Officer
  • General Counsel
  • Heads/Directors/VPs of Risk
  • Heads/Directors/VPs of Financial Crime
  • Treasury executives

A limited number of places will also be made available to senior representatives of professional service firms, technology and payments companies, government officials and business consultancies.

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Why Should I Attend?

  • Hear global and regional bank leaders' views on the current regulatory landscape and how they are working to reshape it
  • Gain insights into how regulatory agencies view their top priorities and the obstacles they face in improving the regulatory environment for all stakeholders
  • Understand how prominent economists and academics view the next business cycle and where the key leverage points will be
  • Network with peers from across the US banking ecosystem, and with senior journalists from the Financial Times
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Founding Partner (1)

At Shearman & Sterling, we harness the intellectual strength and client service skills of our lawyers across our extensive global footprint to benefit our clients. As one of the first law firms to establish a presence in key international markets, we have led the way in supporting clients wherever they do business. We work on first-in-kind, first-in-country matters around the world, pioneering new legal territory on ground-breaking deals and precedent-setting matters. We are honored to have partnered with our clients on these historic developments and continue to build on our reputation as one of the world’s elite firms – a firm that clients rely on for work on complex, bet-the-company matters. From major financial centers to emerging markets, we have the reach, depth and cross-border perspective necessary to handle complex business matters worldwide.

We represent many of the world’s leading corporations, financial institutions, emerging growth companies, governments and state-owned enterprises on cross-border transactions as well as exclusively local matters. With a deep understanding of our clients’ businesses forged through collaboration, we develop creative ways to help accomplish their goals and are ideally situated to support them as they navigate the challenges of our 21st century global economy.

Associate Sponsor (1)

Navigant Consulting, Inc. (NYSE: NCI) is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage, and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the firm primarily serves clients in the healthcare, energy, and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about 

Venue

Apella
450 East 29th Street
New York 10016

United States of America

Tel: +1 (212)706-4100

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CONTACT US

Heather Wolf
ODX Program Director, Financial Times Live
Simon Carkeek
Sponsorship Opportunities
Financial Times
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Delegate Booking and Registration Enquiries
Financial Times
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Media Partner & Press Inquiries
Financial Times