Following the success of the inaugural US Banking Forum 2017, the Financial Times is once again hosting an exclusive event in New York for banking and asset management industry executives and their strategic partners. Participants will glean insights from financial services leaders, regulators, policy-makers and technologists, who will share their views on the dynamics shaping the sector and its customers today, and suggest ways to chart a course for a sustainable, secure and successful future.
FT US Banking Forum
Charting a Course for Stability and Success
Federal Deposit Insurance Corporation
Atlas Merchant Capital
H. Rodgin Cohen
Sullivan & Cromwell
By most accounts, 2018 has delivered a reprieve for banks in the form of US corporate tax reform, more clarity in the regulatory landscape, and an economic foundation that could pave the way for rising rates and increased business activity going forward. At the same time, an atmosphere of uncertainty persists and any number of surprises could yet derail the industry’s trajectory. The Forum will explore the regulatory and policy issues gaining the most traction in the lead up to the US midterm elections, as well as the key areas of risk dominating boardroom agendas.
The program also tackles head on the need for banks to find ways to grow in a long-term, sustainable manner. Many are looking to technology to drive growth and are redirecting resources to areas ripe for innovation, such as digital payments, artificial intelligence, blockchain, or cryptocurrencies. The stakes are high, and organizations that are able to identify new opportunities, respond quickly to changes while still managing and mitigating risk will be best able to position for future success.
Led by Financial Times journalists Patrick Jenkins, Laura Noonan and Rana Foroohar, the Forum will bring together senior leaders from major US and international banks, large regional banks, and smaller community banks. Participants can expect a day of lively exchanges and unique insights into the future of the sector and its place in the global financial ecosystem.
Keynote Speakers (5)
Jelena McWilliams currently serves as the 21st Chairman of the Federal Deposit Insurance Corporation. Previously, she was Executive Vice President, Chief Legal Officer and Corporate Secretary at Fifth Third Bank in Cincinnati, Ohio. Prior to joining Fifth Third Bank, Ms McWilliams worked in the United States Senate for six years, most recently as Chief Counsel and Deputy Staff Director with the Senate Committee on Banking, Housing and Urban Affairs, and previously as Assistant Chief Counsel with the Senate Small Business and Entrepreneurship Committee. From 2007 to 2010, she served as an attorney at the Federal Reserve Board of Governors. Before entering public service, she practiced corporate and securities law at Morrison & Foerster LLP in Palo Alto, California, and Hogan & Hartson LLP (now Hogan Lovells LLP) in Washington, DC. Ms McWilliams graduated with highest honors from the University of California at Berkeley with a Bachelor’s degree in Political Science, and earned her law degree from UC Berkeley School of Law.
Bob Diamond is Founding Partner and Chief Executive Officer of Atlas Merchant Capital (AMC), a global financial services investment firm with offices in New York and London. AMC brings its deep operating experience and extensive industry relationships to optimize business and financial performance. AMC currently manages investments across the US and Europe through its private equity fund. Mr Diamond was formerly Chief Executive Officer of Barclays plc. Before that he held a variety of senior executive positions at Credit Suisse and Morgan Stanley. Mr Diamond is a Life Trustee and former Chair of the Colby College Board of Trustees, a US Trustee of the Imperial War Museum, a Life Member of the Council on Foreign Relations, and a Director of the Diamond Foundation. He holds a Bachelor of Arts degree in Economics from Colby College in Maine and an MBA from the University of Connecticut, and was awarded Doctor of Humane Letters from the University of Connecticut and Doctor of Laws from Colby College.
H. Rodgin Cohen
H. Rodgin Cohen is Senior Chairman of Sullivan & Cromwell LLP. The primary focus of Mr Cohen’s practice is regulatory, enforcement, acquisition and securities law matters for US and non-US banking and other financial institutions and their trade associations, and corporate governance matters for a wide variety of organizations.
Mr Cohen advises the financial services industry on the full range of regulatory, compliance, enforcement and merger and acquisition matters, including multiagency investigations relating to compliance with anti-money laundering and sanctions issues. He frequently works with all the bank regulatory agencies, as well as multiple other governmental agencies. Key recent matters include the Volcker Rule, numbers other provisions of the Dodd-Frank Act, international capital and liquidity standards, and resolution planning. He provides corporate governance advice to a large number of financial and non-financial institutions, both regular clients and as special assignments, and is also a frequent advisor on the rise of strategic and corporate governance activism. An increasing part of Mr Cohen’s advice to senior management, banks and trade associations has related to cybersecurity.
Mr Cohen is or has been a member of the FDIC Systemic Resolution Advisory Committee, the National Security Agency Cyber Awareness Panel, the Treasury Advisory Committee on the Auditing Profession and The New York State Commission to Modernize the Regulation of Financial Services. He is or has also been Vice Chairman, Economic Studies Council of Brookings Institution and a member of the Bipartisan Policy Center Financial Regulatory Reform Initiative, The Pew Financial Reform Project, the IIF Special Committee for a Strategic Dialogue for Effective Regulation and The Financial Services Roundtable’s Blue Ribbon Commission on Enhancing Competitiveness.
Kevin J. Stiroh is Executive Vice President of the Federal Reserve Bank of New York and Head of the Supervision Group, which is responsible for supervising a range of financial institutions in the Second District of the Federal Reserve System. Mr Stiroh is a member of the Bank’s Management Committee and the Federal Reserve’s Supervision Committee and Large Institution Supervision Coordinating Committee (LISCC). Mr Stiroh joined the Bank in March 1999 as an economist in the Research and Statistics Group and has held a range of positions in the Research and Statistics, Supervision, Markets, and Integrated Policy Analysis groups. He played a leadership role in the development and execution of supervisory stress testing including the Supervisory Capital Assessment Program (SCAP) and the Comprehensive Capital Analysis and Review (CCAR); led work related to financial institution analysis, market monitoring, financial stability, and the discount window; and participated in international working groups on macroprudential supervision, collateral usage, and the reform of reference interest rates. He became head of the Supervision Group in October 2015. Mr Stiroh's academic research includes work on productivity and the sources of economic growth, the economic impact of information technology, and the efficiency and behavior of financial institutions. This research has been published in the American Economic Review, Brookings Papers on Economic Activity, Journal of Banking and Finance, Journal of Economic Perspectives, Journal of Money, Credit and Banking, Review of Economics and Statistics and other academic and business publications. Mr Stiroh holds a Bachelor’s degree from Swarthmore College in Economics and Psychology and an MA and PhD from Harvard University in Economics.
Steve Strongin is Head of Global Investment Research at Goldman Sachs. He is a member of the Management Committee, Firmwide Client and Business Standards Committee and Firmwide Reputational Risk Committee. He is also Co-Chair of the Firmwide Technology Risk Committee. He previously served as Global Head of Strategy Research and Co-Chief Operating Officer of Global Investment Research, as well as Global Head of Commodities Research. Mr Strongin joined Goldman Sachs in 1994 and was named Managing Director in 1998 and Partner in 2002. Prior to joining the firm, he spent 12 years at the Federal Reserve Bank of Chicago, most recently as the Director of Monetary Policy Research. Previously, he was an economist at the Center for the Study of Economy and State at the University of Chicago and a researcher at PanHeuristics, a think tank focused on military strategy and energy policy. He serves as a Director on the board of Ocean Conservancy. In addition, he is a member of the Visiting Committee to the College at the University of Chicago, a member of the Advisory Board to the RAND Center for Corporate Ethics and Governance, and a member of the Jury of the World Resources Institute’s Ross Prize for Cities. Mr Strongin earned undergraduate and graduate degrees in Economics from the University of Chicago and a graduate degree in Management from Northwestern University’s Kellogg School of Management.
Rich Baich is Wells Fargo's Chief Information Security Officer and leads the Enterprise Information Security organization, within Corporate Risk. The four teams in his organization include Enterprise Information Security Strategy and Oversight, Enterprise Access Management, Information Security Engineering and Services, and Cyber Defense and Monitoring. Prior to joining Wells Fargo in 2012, he was a Principal at Deloitte & Touche, where he led the Global Cyber Threat and Vulnerability Management practice. His other security leadership roles include serving as the Naval Information Warfare officer for the NSA, Senior Director for Professional Services at Network Services (now McAfee). After 9/11, he served as Special Assistant to the Deputy Director for the National Infrastructure Protection Center at the FBI. Mr Baich recently retired from the US military after more than 20 years of service in various roles. In 2005, he authored Winning as a CISO, a leadership sourcebook for security executives. For his security and pioneering leadership, he received the Information Security Executive of the Year in Georgia award in 2004. He was selected as an advisor for the 44th President’s Commission on Cyber Security and is currently serving as a Strategic Advisor for both the California Governor’s Cybersecurity Task Force and the International Consortium of Minority Cybersecurity Professionals. Mr Baich holds an MBA and a Master’s degree in Management from the University of Maryland and a Bachelor’s degree from the United States Naval Academy. He is a graduate of the Joint Forces Staff College and the Naval War College. He qualified as an Information Warfare Officer and has numerous security industry certifications.
Jeremy K. Balkin serves as Head of Innovation for HSBC Bank USA based in New York, where he serves on the retail bank management committee and is responsible for the fintech innovation and exponential growth strategy for North America. He also serves on the board of the Samsung Council for Emerging Technology and is the multi-award winning author of two books, Investing with Impact: Why Finance is a Force for Good, and Millennialization of Everything: How to Win When Millennials Rule the World. Mr Balkin previously served as an adviser to The Hon. Malcolm Turnbull, Australia’s 29th Prime Minister and as an executive at Macquarie Bank. In 2017, he was named among the Top 35 Millennial Influencers in USA by the NBT Movement in Washington DC and received the Advance Global Australian Award from the Prime Minister of Australia. He has run six marathons and also received the UNSW Alumni Award for Achievement and been designated a Young Global Leader by the World Economic Forum.
Richard Berner is Executive-in-Residence at the Center for Global Economy and Business at the NYU Stern School of Business, and Adjunct Professor in the Department of Economics. Mr Berner served as the first Director of the Office of Financial Research (OFR) from 2013 until 2017 and was Counselor to the Secretary of the Treasury from April 2011 to 2013. Previously, he was a Managing Director, Co-Head of Global Economics and Chief US Economist at Morgan Stanley from 1999 to 2011. He was also Executive Vice President and Chief Economist at Mellon Bank and a member of Mellon's Senior Management Committee (1992-99). Previously, he served as a Principal and Senior Economist for Morgan Stanley, as a Director and Senior Economist for Salomon Brothers (1985-91), as Economist for Morgan Guaranty Trust Company (1982-85), and as Director of the Washington, DC office of Wharton Econometrics (1980-82). Mr Berner also served on the research staff of the Federal Reserve in Washington, where he co-directed the Fed’s model-based forecast and was a member of the team that developed the Fed’s first multicountry model used for international policy analysis (1972-80). He is an Advisor to FinRegLab, an innovation center that tests new technologies and data to inform public policy and promote a responsible and inclusive financial marketplace. He is also a member of the Milken Fintech initiative, led by former OCC head Tom Curry and former Treasury official Melissa Koide. Additionally, he is a Senior Advisor to MacroPolicy Perspectives, an economic consulting firm. Mr Berner has been a member of the Economic Advisory Panel of the Federal Reserve Bank of New York, a member of the Panel of Economic Advisers of the Congressional Budget Office, a member of the Executive Committee of the Board of Directors of the National Bureau of Economic Research, a member of the Advisory Committee of the Bureau of Economic Analysis, Department of Commerce, a member of the Board of Directors of the Penn Institute for Economic Research, and a member of the Board of Advisors of Macroeconomic Advisers, LLC. He served as an Associate for the Counterparty Risk Management Policy Group II. He is a Past President and Fellow of the National Association for Business Economics and is the past Chair of the Economic Advisory Panel of the Bond Market Association. He is the winner of forecasting awards from Market News and the National Association for Business Economics, the 2007 recipient of the William Butler Award for Excellence in Business Economics, and has been a member of Time’s Board of Economists. He has been an Adjunct Professor of Economics at Carnegie-Mellon University and at George Washington University. Mr Berner received his Bachelor’s degree magna cum laude in Economics from Harvard College in 1968, and his PhD in Economics from the University of Pennsylvania in 1976. He researched his dissertation under the supervision of Professor Lawrence Klein, and was funded by SSRC-Ford Foundation grants at both the University of Louvain, Belgium, and at the University of Bologna, Italy from 1971-72.
Chad Borton is the President of USAA Bank and he serves as a Director on the USAA Bank Board of Directors. He leads the $75bn bank to provide a full range of deposit, mortgage, real estate, and lending products and services to help provide financial security for over eight million military families. Prior to joining USAA in May 2017, he served as Executive Vice President and Head of Consumer Banking at Fifth Third Bank. There, he was responsible for retail and business banking, digital banking, auto lending, mortgage and consumer credit, collections, and business controls. Before joining Fifth Third, he served in several senior leadership positions at JP Morgan Chase, including Head of Branch Administration, Consumer Bank CFO, and Head of the Retail Distribution Network. Prior to joining JP Morgan Chase, he held roles at Wachovia and McKinsey & Co. He currently serves on the board of the Consumer Bankers Association. A former Army officer, Mr Borton holds a Bachelor’s degree in Business Economics and Public Policy from Indiana University. He also holds a Master’s degree in Business Administration from Harvard Business School.
Charles Cascarilla is the CEO and Co-Founder of Paxos. With over 15 years of experience in financial services, he has a unique perspective and interest in integrating blockchain technology with traditional systems. Since 2005, Mr Cascarilla has been a Partner and Co-Founder at institutional asset management complex Cedar Hill Capital Partners LLC (and its venture capital subsidiary, Liberty City Ventures LLC, founded in 2012). Earlier in his career, he was a portfolio manager at Claiborne Capital and worked at both Bank of America Securities LLC and Goldman Sachs & Co. He also serves on the board of several charities and private companies including Project ALS and The Centurion Foundation. Charles holds a BBA in Finance from the University of Notre Dame and is a CFA charterholder.
Sriniketh Chakravarthi leads Cognizant’s North American Banking and Financial Services (BFS) business unit. During his tenure at Cognizant, he has held multiple roles, including BFS leader in Continental Europe and BFS leader for Business Process Services in North America. He also led corporate development for Asia Pacific and was instrumental in setting up and expanding Cognizant’s footprint in China and in the Asia Pacific region. He holds a Bachelor’s degree in Engineering from the National Institute of Technology, Jamshedpur, and an MBA in Finance from the Indian Institute of Management, Calcutta.
Shawn Connors is a Principal in the Financial Services (FS) Advisory Practice at PwC in New York. He is a recognized thought leader and advisor to CIO, risk, and audit organizations on IT strategy, governance, enterprise integration, information protection, operational risk, IT audit, and vendor management. He also has extensive experience designing and implementing IT governance, operational risk, data and information management, information security, and identity management solutions for large enterprise environments, as well as leading global integration and deployment projects for financial services organizations. His experience includes developing and implementing a technology risk management function at a NY-based financial services organization; acting as interim head of technology risk management for one year to support regulatory remediation efforts, organizational development, and integration with broader risk and IT (corporate and line of business) organization; acting as lead partner on all information security and technology risk management projects for NY-based bank holding company with global operations; and leading a two-year renovation effort to rebuild an information security capability for a large Fortune 100 organization that had been breached.
Mr. Andrew Eisen is a managing director and heads product management for enterprise data management (EDM) and cloud strategy at IHS Markit. He is responsible for products, including EDM, EDM Warehouse, EDM Reporting, hosted software and managed services. Additionally, he heads cloud strategy for the organisation. Mr Eisen has nearly 20 years of experience creating leading edge software products for the financial services community. During his 8+ year tenure at the firm, he has held multiple roles, including leading collaboration services, desktop and parsing businesses. Prior to joining Markit, now IHS Markit, in 2009, he was responsible for designing and building a proprietary investment research platform at Telsey Advisory Group. He has also had strategic consulting and product management roles at Morgan Stanley, Visible Path, Oracle and Accenture. Mr. Eisen holds an Honors Business Administration (HBA) degree from the Richard Ivey School of Business in London, Canada.
Mitchell Eitel is Managing Partner of the Financial Services Group and Co-Managing Partner of the global General Practice Group at Sullivan & Cromwell. He has a broad practice covering the needs of Sullivan & Cromwell’s financial services clients, focusing largely on governance and on the corporate, securities and regulatory aspects of mergers and acquisitions and other transactional matters for banking and other financial services firms, as well as financial technology companies. Mr Eitel has worked on many of the largest, most complex transactions in the industry, including the major transactions of the financial crisis. In addition to transactional work, he works with our financial services clients on a wide range of regulatory and enforcement matters. These have included subjects such as resolution planning, anti-money laundering, consumer compliance, cyber-security and other areas of regulatory scrutiny. Law360 recently stated Mr Eitel “has for years been one of the banking bar’s preeminent voices.”
Annabel Fan is the Global Head of Financial Services for beqom, where she oversees the global go-to-market organization for Financial Services. With over 20 years of experience, she leverages her deep experience in driving technology to help deliver strategic solutions for organizational effectiveness at financial institutions. Ms Fan has successfully launched new products or opened new markets for a number of enterprise software companies with a focus on risk and regulatory compliance in Financial Services. Prior to beqom, she held multiple senior positions at Workday and SAP, where she was responsible for new product introduction and market expansion across multiple lines of business and geographies. Most recently, she was the Head of Financial Services for Workday, where she led the development of product strategy, sales and market development of Workday’s product portfolio for Financial Services and was responsible for driving Workday’s hyper growth across the industry. At SAP, Ms Fan led SAP’s Go-to-Market strategy for Financial Services in North America, one of 3 strategic Industries for SAP, and also held positions in marketing and sales. Prior to SAP, she was a M&A and Corporate Finance attorney in New York and Hong Kong for Skadden, Arps, Slate Meagher & Flom and Gibson, Dunn & Crutcher, where her practice included mergers and acquisitions and corporate finance. She has deep international experience in Asia and Europe and speaks Mandarin. Ms Fan has an undergraduate degree in English Literature and East Asian Studies from Columbia College, a JD from Columbia Law School and an MBA from the Wharton School of the University of Pennsylvania.
Tina Fordham is Managing Director and Chief Global Political Analyst at Citi Research. The first and only chief political analyst to work for a major financial institution, Ms Fordham has pioneered incorporating political analysis within traditional banking research, establishing it as a critical input into the decision-making process for companies and investors during a period when political risks, especially in the advanced economies, have accelerated. She joined Citi in 2003 and has established a loyal following of corporate boards, institutional investors and governments, as well as Citi’s senior management, about the implications of macro global political developments. Ms Fordham is a member of the Corporate and Investment Bank’s Diversity Board and the Veteran's Network at Citi, and sits on the International Advisory Council for the foreign policy think tank Carnegie Europe and the Advisory Council for Columbia University’s School for International and Public Affairs. Previously she served in the UK Prime Minister’s Strategy Unit and as Head of Global Political Risk at Eurasia Group, launching its financial markets research business in 1999. A frequent commentator on the BBC, CNBC, and Bloomberg as well as at Davos, Ms Fordham earned her Master's degree at the School of International and Public Affairs at Columbia University.
Jewell D. Hoover is a former Deputy Comptroller with the Comptroller of the Currency (OCC) and enjoyed a 28-year career with the government agency. In her capacity as Deputy Comptroller for the Western District, she served as the Chief Executive Officer and helped develop policy, systems and programs to achieve agency goals. In addition to overseeing a multi-million dollar budget, her responsibilities included supervisory oversight for hundreds of national banks, developing working relationships with banking officials, trade associations and FDIC and Federal Reserve Bank officials on a senior executive level. After retirement, she was the Principal of Hoover and Associates, LLC, a bank consulting firm. A broad array of services was provided by the firm including strategic planning, corporate governance advice, bank director education and expert opinions for litigated matters on banking law. She closed her bank consulting firm in 2014. Ms Hoover is a member of the Board of Directors for Fifth Third Bank in Cincinnati, OH; where she chairs the Risk Committee; Board Member, Audit Committee Chair and Secretary/Treasurer for AARP in Washington, DC; Board Member and Treasurer for The Foundation for the Carolinas in Charlotte, NC; Board of Advisors for the University of North Carolina Center for Banking and Finance and Board of Advisors for American Association for Bank Directors in Washington, DC. She is a former member of the Board of Trustees for Wingate University and the North Carolina Banking Commission (Gubernatorial appointment). She is co-author of The Ultimate Guide for Bank Directors. Ms Hoover is a graduate of West Virginia State College with a BS in Business Education and an MA from Marshall University in Educational Administration and Supervision.
W. Bradford Hu is the Chief Risk Officer for Citigroup. In this role, he leads the Global Risk Management Organization, which is responsible for proactively identifying, evaluating, mitigating and reporting on Citi’s risks across all businesses and regions. Mr Hu reports to Citigroup CEO Michael Corbat and is a member of Citi’s Operating Committee. Before assuming this role in January 2013, he served as Chief Risk Officer for Citi Asia Pacific, where he was responsible for managing the firm’s risks across all of Citi’s businesses in the region’s 17 markets, including consumer banking, corporate and investment banking, securities and trading and private banking services. Prior to joining Citi in 2008, he worked at Morgan Stanley for more than 20 years, where he served as CEO of Morgan Stanley Taiwan and held a number of senior leadership roles in Firm Management, the Global Equity Division, Global Capital Markets, and Investment Banking. Mr Hu has more than 15 years of experience in Asia, having worked and lived in Hong Kong, Tokyo and Taipei. He is a member of the Financial Advisory Roundtable of the Federal Reserve Bank of New York and a member of the Board of Trustees for the Global Association of Risk Professionals. Mr Hu graduated from the Massachusetts Institute of Technology in 1985, earning SB and SM degrees in Electrical Engineering and Computer Science with a concentration in Economics, and received his MBA with High Distinction from the Amos Tuck School of Business Administration, Dartmouth College, where he was elected Edward Tuck Scholar.
Barry Hurewitz is the Founder and Global Head of UBS Evidence Lab Innovations, one of the largest and most experienced primary research teams in the world. Prior to his current role, Mr Hurewitz served as the Global COO for UBS Investment Research. During his tenure, UBS Research was voted the top global equity research provider in the world by Institutional Investor magazine. Before joining UBS, Mr Hurewitz was the Global COO of Investment Research at Morgan Stanley from 2000 through 2013, where he founded Morgan Stanley’s primary research practice, AlphaWise. Prior to joining Morgan Stanley, Mr Hurewitz served as Executive Vice President and General Manager of CNN/Money and as a consultant at McKinsey & Company. Mr Hurewitz earned his MBA from Harvard Business School in 1995 where he graduated with highest distinction and as a Baker Scholar.
Kathryn Judge is a Professor of Law at Columbia Law School. She is an editor of the Journal of Financial Regulation, a Research Member of the European Corporate Governance Institute, and a member of the Financial Research Advisory Council of the Office of Financial Research. She is an expert on financial markets and regulation, including banking, the 2008 financial crisis, regulatory architecture, central bank governance, and regulatory accountability. She has had two articles selected by peers as among the top business law articles of the year, and her scholarship has been published in numerous leading journals, including the Stanford Law Review, Harvard Law Review, The University of Chicago Law Review, Virginia Law Review, and Columbia Law Review. Prior to joining the Law School, Ms Judge clerked for Judge Richard Posner of the 7th Circuit Court of Appeals and Justice Stephen Breyer of the Supreme Court. She also worked as a Corporate Associate with Latham & Watkins. She is a graduate of Stanford Law School, where she earned the Urban A. Sontheimer Honor (second in class), and Wesleyan University.
Veena Khanna is Director of Strategy and Implementation at Key Private Bank, where she is responsible for the creation, development, and execution of the bank's wealth management strategies and initiatives. She works closely with a multi-disciplinary team of wealth advisors and strategists to deliver innovative ideas and solutions to affluent clients in areas that include Trust, Investment Management, Advice, Banking, and Family Wealth. She and her team are relationship-focused and work with a “local” delivery model to meet individual client needs. Prior to joining Key, she was a practicing attorney for the law firm of Witschey & Witschey Co, LPA in Akron, Ohio, where she focused her practice on litigation, estate planning, and real estate law. She earned a Bachelor’s degree in Business Administration from the University of Cincinnati and a JD from the University of Akron, School of Law. Ms Khanna is licensed to practice law in Ohio and is a Certified Trust and Financial Advisor (CTFA). She supports a variety of local organizations, having served as a Trustee for the Ohio Women’s Bar Association, and is currently a member of the Estate Planning Council of Cleveland, Estate Planning Discussion Forum – Cleveland, and the Cleveland Metro Bar Association. She also serves on the Board of Trustees for Medworks, USA, a nonprofit organization that provides healthcare to the uninsured and underinsured. Ms Khanna is a member of the Key Executive Women’s Network and a 2010 recipient of the YWCA Women of Professional Excellence Award. She has also been named one of the “50 Most Influential Women in Private Wealth” for 2016 by Private Asset Management (PAM) magazine.
Jeff McMillan is Managing Director, Chief Analytics & Data Officer for Morgan Stanley Wealth Management. In this capacity, he is focused on driving organic growth through the use of the latest analytical, machine learning and artificial intelligent capabilities. Prior to this, his roles at Morgan Stanley included Head of Advisor Platforms and Digital Strategy, Head of Product Platforms as well as the COO for the Investment Strategy Group. Before joining Morgan Stanley in 2009, he served as Head of Business Strategy for Merrill Lynch Research. Mr McMillan is a graduate of the United States Military Academy at West Point where he received a BS in Economics. Following this he served on active duty as an Armor Officer and Scout Platoon Leader in South Korea and Fort Knox, KY.
Ertem Osmanoglu is the Financial Services Cybersecurity and Privacy Leader at PwC where he helps PwC clients' transform their businesses to be more resilient, agile and innovative, leading them through the cultural change required to embed cybersecurity at all levels of the organization. He is focused on enabling business performance through cybersecurity capabilities at the intersection of risk and regulatory matters, including risk culture and board governance. He has led teams for large global clients with information security, digital transformation, IT risk management and infrastructure service needs. He has held number of leadership positions in the areas of financial services and technology innovation over the last 22 years. He is a frequent speaker and guest lecturer at industry events and the author of numerous information security articles and two books. He enjoys hearing about new ideas and technologies in human-centric innovation, blockchain, cybersecurity and machine learning that will reshape our industry and create massive market opportunities.
Joseph E. Rockey is Executive Vice President and Chief Risk Officer of The PNC Financial Services Group, Inc. He leads PNC’s enterprise-wide independent risk management program, including credit, compliance, operational and market risk. Mr Rockey joined PNC in 1999 as Senior Vice President and Chief Financial Officer of PNC Secured Finance. He became Director of Strategic Planning and Head of Corporate Bank Marketing in 2001. In 2003, he was promoted to Executive Vice President for Interdependent Business Activities, leading cross-business strategies designed to enhance customer service and client relationships. In 2004, he was appointed to lead Branch Distribution where he managed day-to-day operations, sales and service delivery in PNC’s branch network. In 2005, he established the mass-affluent focused PNC Private Client Group. Along the way, Mr Rockey led the integration of the United National (2003/2004), Riggs National (2004/2005) and Mercantile Bankshares (2006/2007) acquisitions. In 2007, he was selected to head PNC’s Commercial Banking business as well as PNC’s Investor Real Estate program. He joined Risk Management in 2011 to lead PNC’s Basel program and became Chief Risk Officer in 2014. Mr Rockey has been a certified public accountant and certified information systems auditor. He has a BS in Business Administration from Duquesne University.
Samuel Woodall, III
Samuel Woodall, III is a Partner in Sullivan & Cromwell’s General Practice Group. Mr Woodall came to the Firm from Capitol Hill, where he served as Deputy Staff Director of the Oversight and Investigations Subcommittee of the House Committee on Banking, Finance, and Urban Affairs. He represents a variety of clients before the US Congress, as well as executive branch and independent federal regulatory agencies, including the Department of the Treasury, the Federal Reserve, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and the Financial Stability Oversight Council. Mr Woodall has participated, on behalf of the Firm’s clients, in the Congressional deliberations leading to enactment of the Gramm-Leach-Bliley Act, the USA PATRIOT Act, the Sarbanes-Oxley Act, the Financial Services Regulatory Relief Act, the Dodd-Frank Wall Street Reform and Consumer Protection Act, and, most recently, the Economic Growth, Regulatory Relief, and Consumer Protection Act. Mr Woodall received the Burton Award for Legal Writing in 2011 for “Introducing Dodd-Frank,” co-authored with Sergio Galvis and published in Latin Lawyer. He also oversees production of the S&C Financial Services Digest, a weekly client publication that tracks legislative, regulatory and judicial developments in the financial services industry.
Chairs and Moderators (4)
Patrick Jenkins has been Financial Editor and Assistant Editor at the Financial Times since 2014. In this role, he shapes the FT’s overall financial coverage, with a focus on financial services and investment. He works closely with the editors of Markets, Lex, FT Money, FTfm and the financial services team. He also contributes to leader writing and comment, while continuing to write for the Inside Finance column.
Previously, Mr Jenkins was Banking Editor from 2009 until 2014, leading the 10-strong global financial services reporting team. Prior to this he was Companies Editor, and before that Editor of International Company News. Prior to taking up this post, Mr Jenkins spent four years in Germany as Frankfurt Correspondent for the FT. He joined the FT Group in 1996 editing the newsletter FT world insurance report, before becoming a UK companies reporter in 2000.
Rana Foroohar is Global Business Columnist and an Associate Editor at the Financial Times, based in New York. She is also CNN’s global economic analyst. Her book, “Makers and Takers: The Rise of Finance and the Fall of American Business” (Crown), about why the capital markets no longer support business, was shortlisted for the Financial Times McKinsey Book of the Year award in 2016.
Prior to joining the FT and CNN, Foroohar spent 6 years at TIME, as an assistant managing editor and economic columnist. She previously spent 13 years at Newsweek, as an economic and foreign affairs editor and a foreign correspondent covering Europe and the Middle East. During that time, she was awarded the German Marshall Fund’s Peter Weitz Prize for transatlantic reporting. She has also received awards and fellowships from institutions such as the Johns Hopkins School of International Affairs and the East West Center. She is a life member of the Council on Foreign Relations.
Laura Noonan is the FT’s Investment Banking Correspondent, where she writes on some of the world’s biggest banks and on industry trends. Before joining the FT in 2015, Ms Noonan covered European banking for Reuters, and the Irish banking crisis for the Irish Independent. She is also a CFA charterholder.
Edward Luce is the Washington columnist and commentator for the Financial Times. He writes a weekly column, FT’s leaders/editorials on American politics and the economy and other articles. Mr Luce has worked for the FT since 1995 as Philippines correspondent, capital markets editor, South Asia bureau chief in New Delhi and Washington bureau chief between 2006 and 2011.
Agenda - 1st Nov
8:00amRegistration and Breakfast
8:45amWelcome and Opening Remarks
Patrick Jenkins, Financial Editor, Financial Times
8:50amFT Swamp Notes: Live from New York
An atmosphere of uncertainty persists in the US, particularly in the run-up to the US midterm elections. Which signals currently give us the most to be optimistic about? Concerned about? This opening dialogue will discuss the biggest themes driving US politics, business and markets today. Swamp Notes, written twice a week by Ed Luce and Rana Foroohar, is the FT’s newsletter on money and power in America, capturing the stories behind the headlines in Washington and how they are resonating with the business community, from Wall Street to Silicon Valley. Ed and Rana bring their dialogue from screen to the live stage.
Tina Fordham, Managing Director and Chief Global Political Analyst, Citi Research
In conversation with: Rana Foroohar, Global Business Columnist, Financial Times and Edward Luce, US National Editor, Financial Times
Jelena McWilliams, 21st Chairman of the Federal Deposit Insurance Corporation
In conversation with: Rana Foroohar, Global Business Columnist, Financial Times
9:35amPanel Discussion: Regulatory Rundown – Changing Referees, Changing Rules, and a Clearer Landscape
As the Trump administration’s regulators have taken up their posts and communicated their priorities, the regulatory landscape has begun to take shape and provide more clarity for all players. This panel will explore the areas of rulemaking, oversight and enforcement getting the most attention – and traction – under new leadership, and where questions still remain about key laws, policies and people.
- Some view the relief offered to small and medium-sized banks as merely the beginning of the Dodd-Frank legislative rollback. Will there be more to come?
- What lies ahead for Volcker 2.0?
- How will regulators tackle the modernization of the Community Reinvestment Act?
- Focus is now turning to ILC and fintech charters for nonbanks. How will regulators’ approach to innovation shift under new leadership?
- Where are there still gaps, and what can be done to mitigate potential systemic risks and other shocks that may come up in the next market downturn?
Richard Berner, Former Director of the Office of Financial Research and Executive-in-Residence at the Center for Global Economy and Business, NYU Stern School of Business
Kathryn Judge, Professor of Law, Columbia Law School
Samuel Woodall, III, Partner, General Practice Group, Sullivan & Cromwell
Moderated by: Rana Foroohar, Global Business Columnist, Financial Times
10:10amHow the Post-Crisis Regulatory Regime Has Influenced Shifts in Banking Institutions’ Business Models
Kevin Stiroh, Executive Vice President and Head of Supervision, Federal Reserve Bank of New York
10:25amPanel Discussion: Spotlight on Risk Management
Risk management at the board and executive level is once more in the spotlight, and financial institutions are revisiting their risk management frameworks. As the debate continues over who should be held accountable when there are business practice failures, Chief Risk Officers and Risk Committee members must keep up to date on the key risks facing the banking industry today, while also expanding their awareness and understanding of the new technologies and business models that are driving innovation in the industry. How are views on risk management shifting in light of new realities in the industry? How are banks changing their approach to risk culture?
Mitchell Eitel, Managing Partner, Financial Services Group, Sullivan & Cromwell
Jewell Hoover,President, Hoover & Associatesand Chair of the Risk and Compliance Committee, Fifth Third Bank
Bradford Hu, Chief Risk Officer, Citi
Joseph Rockey, Chief Risk Officer, PNC Financial Services Group
Kevin Stiroh, Executive Vice President and Head of Supervision, Federal Reserve Bank of New York
Moderated by: Patrick Jenkins, Financial Editor, Financial Times
11:30amAn Industry in Transition: Considerations for the Future
H. Rodgin Cohen, Senior Chairman, Sullivan & Cromwell
In conversation with: Patrick Jenkins, Financial Editor, Financial Times
11:55amBuilding Digital Trust
Ertem Osmanoglu, Financial Services Cybersecurity and Privacy Leader, PwC
1:15pmAre Banks Protected Enough on the Cyber Front?
As the opportunities for defrauding banks and their customers continue to grow, so do investments in cyber security. This breakout session will discuss new steps financial services providers are taking to manage these ever-increasing and rapidly changing risks.
- How have cyber defence strategies evolved in response to the increasing digitalization of banking services?
- How are federal and state government departments and agencies working together with banks to better protect financial services transactions infrastructure?
- What known unknowns should still concern banks and their regulators?
Rich Baich, Chief Information Security Officer, Wells Fargo
Shawn Connors, Partner, Cyber Products and Solutions Leader, PwC
In conversation with: Patrick Jenkins,Financial Editor, Financial Times
1:45pmConsumer Finance 3.0: Combating Customer Inertia
Chad Borton, President, USAA Bank
Brad Conner, Vice Chairman, Consumer Banking, Citizens Financial Group
In conversation with: Laura Noonan, US Banking Editor, Financial Times
2:05pmWhat Will It Take To Make Crypto Mainstream?
People have very mixed experiences with crypto; some have made or lost a lot of money on bitcoin, some find the concepts mysterious and some find them endlessly intriguing. As digital assets evolve from fringe holdings to more mainstream assets, institutional investors are starting to explore their potential--with mixed success. Beyond functioning as a speculative investment, bitcoin and other digital assets have valuable technology at the core. Blockchain technology holds the promise of mobilizing assets and reducing settlement risk, unlocking large amounts of capital. In this breakout session, Paxos CEO & Co-Founder Charles Cascarilla will outline the current landscape for crypto assets, how institutional investors can ensure they are ready to take advantage of this new market and how to consider the value that blockchain technology brings to the world.
- How are institutional investors and operators expanding into crypto assets? What's working and what isn't?
- What is the regulatory outlook for crypto assets?
- What are stablecoins? How do they accelerate digital asset adoption?
- How will settlement change in this new landscape?
- How should custody work for these new asset classes?
- What are the common issues that investors have when entering the market?
- What other applications for blockchain technology should investors be aware of?
Charles Cascarilla, Founder and CEO, Paxos
In conversation with: Laura Noonan, US Banking Editor, Financial Times
2:35pmEngines of Innovation: Driving Success in a Digital Ecosystem
Much credit has been given to financial services firms for their willingness to embrace technological innovation through fintech investments, strategic partnerships, consortiums and the like. With the first wave of digital transformation is firmly underway, what’s next? Technology costs are accelerating, and banks must remain nimble in the face of rapidly evolving customer expectations and increasing competition from digital-first players. Where are banks making real gains through robotic process automation, artificial intelligence, machine learning, and other innovations? What new capabilities are next on the horizon?
Jeremy Balkin, Head of Innovation, HSBC Bank USA, N.A.
Sriniketh Chakravarthi, SVP, Practice Leader, Banking and Financial Services, Cognizant
Barry Hurewitz, Global Head of Evidence Lab Innovations, UBS
Veena Khanna, SVP, Director of Strategy and Implementation, Key Private Bank
Moderated by: Laura Noonan, US Banking Editor, Financial Times
3:15pmPanel Discussion: Keeping Pace in a Data-Centric World
The financial system is moving into a digital realm, and access to and control of data is quickly becoming a key competitive advantage for banks and nonbanks alike. Handled appropriately, data can unlock key insights to inform investment strategy, improve engagement and satisfaction levels of key stakeholders, and drive growth in new markets. At the same time, the increasing proliferation of and reliance on data can be a challenge for financial services firms as they grapple with privacy and security implications; high profile breaches or misuse of data can attract regulatory scrutiny and cause heavy reputational damage. What steps are firms taking to position for success in this new data-centric reality? Subject matter experts from various parts of the bank weigh in on key considerations for developing a firmwide data strategy.
Rich Baich, Chief Information Security Officer, Wells Fargo
Andrew Eisen, Managing Director, EDM Product Management & Cloud Strategy, IHS Markit
Annabel Fan, Global Head of Financial Services, beqom
Jeff McMillan, Chief Analytics & Data Officer, Morgan Stanley Wealth Management
Moderated by: Laura Noonan, US Banking Editor, Financial Times
3:55pmThe Path to Stability and Success
Steve Strongin, Head of Global Investment Research, Goldman Sachs
In conversation with: Patrick Jenkins, Financial Editor, Financial Times
Bob Diamond, Founding Partner and CEO, Atlas Merchant Capital and Chairman, Atlas Mara
In conversation with: Patrick Jenkins, Financial Editor, Financial Times
Patrick Jenkins, Financial Editor, Financial Times
- Gain timely insights into how the current economic, political and regulatory landscape is impacting the industry outlook.
- Discuss key challenges and opportunities for banks as they manage the impact of new technologies, emerging risks, and increased competition from nonbanks.
- Hear how bank leaders are prioritizing investments for the future, particularly with respect to technology innovation and other drivers of long-term, sustainable growth.
- Network with senior peers from across the US banking ecosystem, including current and former regulators, C-suite executives, Board members, stakeholders, and senior journalists from the Financial Times
FT Live has a reputation for delivering very senior board level audiences to attend a wide range of world class thought-leadership events across the globe for nearly 40 years. The FT US Banking Forum will be attended by senior banking professionals with job titles including:
- Chief Executive Officer
- Chief Information Officer
- Chief Information Security Officer
- Chief Risk Officer
- Chief Operating Officer
- Chief Compliance Officer
- Chief Financial Officer
- Chief Technology Officer
- General Counsel
- Heads/Directors/VPs of Operations, Strategy, Planning, Performance, Investment, Relationship Management, Corporate Development
- Heads/Directors/VPs of Digital, Mobile, Payments, Transactions, Technology
- Heads/Directors/VPs of Financial Crime, Risk, Finance, Legal & Compliance, Policy, Regulation
- Treasury executives
Places will also be made available to senior representatives of professional service firms, law firms, technology and payments companies, government officials and business consultancies.
Strategic Partners (2)
With offices in 158 countries and more than 250,000 people, PwC is among the world's leading professional services networks. We help organizations and individuals create the value they’re looking for by delivering quality audit, tax and advisory services. As the needs of PwC's clients and stakeholders have changed, so has PwC. We look at the world through the eyes of clients, anticipating and listening to their needs, helping them to solve problems while capitalizing on the opportunities brought on by new technologies. PwC's mission is to build trust in society and solve important problems. We work alongside our clients to deliver solutions and tackle challenges using the strength of our all business services lines and our global network of firms. PwC’s global Cybersecurity & Privacy practice of 3,300+ practitioners includes specialized consultants, former law enforcement agents, cyber-forensic investigators, intelligence analysts, technologists, attorneys and industry leaders in cybersecurity and privacy. Our team has deep experience helping global businesses across industries strategically assess, design, deploy and improve cybersecurity programs.
Sullivan & Cromwell LLP provides the highest quality legal advice and representation to clients worldwide. The firm’s record of success and unparalleled client service has set it apart for more than 130 years and made the firm a model for the modern practice of law. Today, S&C is a leader in each of its core practice areas and geographic markets. The firm advises on major domestic and cross-border M&A, finance and corporate transactions, significant litigation and corporate investigations, and complex regulatory, tax and estate planning matters. Sullivan & Cromwell’s Financial Institutions Group is at the vanguard of the critical issues and developments affecting global financial institutions, including U.S. and non-U.S. banking organizations, insurance companies, investment funds and asset managers. Sullivan & Cromwell comprises approximately 875 lawyers who conduct a seamless, global practice through a network of 13 offices located in key financial centers in Asia, Australia, Europe and the United States. The firm is headquartered in New York.
Associate Sponsors (4)
beqom provides a Total Compensation cloud solution that addresses all aspects of compensation and performance for both Sales & HR. Its platform allows business managers to lead, align and motivate their employees. beqom focuses exclusively on managing compensation for large enterprises who cannot afford to compromise on their compensation strategy. This exclusive focus on compensation enables beqom to address the needs of global industry leaders. As a result companies like Microsoft, Vodafone and CNHi have selected beqom to manage their compensation and performance processes...making their people happy. For more information, visit www.beqom.com
Cognizant is one of the world's leading professional services companies, transforming clients & business, operating and technology models for the digital era. Our unique industry-based, consultative approach helps clients envision, build and run more innovative and efficient businesses. Headquartered in the U.S., Cognizant is ranked 195 on the Fortune 500 and is consistently listed among the most admired companies in the world. Learn how Cognizant helps clients lead with digital at www.cognizant.com or follow us @Cognizant.
IHS Markit (Nasdaq: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.
Paxos is on a mission to modernize finance by mobilizing assets at the speed of the internet.
Paxos is building a future where all assets—from money to commodities to securities—will be digitized and can move instantaneously, 24/7. Settlement risk will cease to exist, so trillions of dollars of trapped capital can go to work in a global, frictionless economy.
Today, as the first regulated Trust company with blockchain expertise, Paxos is uniquely positioned to mobilize and custody assets digitally.
Visit www.paxos.com for more information on Paxos and its institutional-grade products like the Paxos Standard token and Paxos Confirmation Service for precious metals. Visit www.itBit.com for the crypto-asset exchange and related services including escrow, custody and OTC trading.
PAX and Paxos Standard are trademarks of Paxos Trust Company, LLC