2017
Amundi
World Investment Forum
29th & 30th
June 2017
Disruptive Trends: Exploring New Opportunities

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Programme

2 days to discover and share. Amundi World Investment Forum at a glance.

Disruptive trends
worth 2 great days.

  • 13:30
    Opening speech |Yves Perrier, CEO of Amundi Group /
  • 13:45
    Keynote Address |Professor Martin Feldstein, Professor of Economics at Harvard University /
  • 14:25
    Roundtable |Geopolitical landscape: Brexit, Trump, European elections, populism and terrorism: how much is too much? /
  • 15:45
    Roundtable |Identifying macro trends and disruptive factors /
  • 16:35
    Roundtable |Reviewing asset and risk allocation: how to cope with disruptive events? /
  • 17:35
    Conclusion |Laurent Bertiau, Global Head of Institutional Clients at Amundi /
  • 9:00
    Opening speech |Fathi Jerfel, Global Head of Retail Division at Amundi /
  • 9:10
    Keynote address |Angus Deaton, 2015 Nobel Prize in Economics /
  • 9:40
    Roundtable |How do sovereign institutions enhance their yield and maximize the benefits of their long term investment horizon? /
  • 10:50
    Roundtable |How pension fund and insurance companies match long term objective with short term considerations? /
  • 11:30
    Roundtable |How do distributors tackle the game-changing challenges that lie ahead? /
  • 12:10
    Conclusion |Xavier Musca, Chairman of Amundi, Deputy CEO of Crédit Agricole S.A. /
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Speakers

Have a look on those who will convert disruptive trends into concrete words.

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#AmundiWIF17

Baroness Catherine Ashton
Former EU High Representative for foreign and security policy /Vice President of commission

In November 2009 Catherine Ashton was appointed as the EU’s first High Representative of the Union for Foreign Affairs and Security Policy/Vice-President of the European Commission.

This new position was created under the Lisbon Treaty and the holder is charged with coordinating the EU’s  Common foreign and security policy. The post combines previously separate roles – to make EU foreign policy more consistent and coherent.

The High Representative/Vice-President is supported in her work by the European External Action (EEAS), formed on 1 January 2011 by merging Commission and Council foreign policy departments and bringing in diplomats from national diplomatic services.

In May 2012, Catherine Ashton was honored with the Business Med Blue Award. The award was presented to her in recognition of her efforts in promoting peace and economic development in the Mediterranean region. The Blue award – also known as “Mare Nostrum” – is a prize awarded each year to a personality selected by the Union of Mediterranean Confederations of Enterprises.

As EU Foreign Affairs chief her portfolio includes a wide variety of roles: traditional diplomacy; coordinating other foreign policy tools  – development assistance, trade, humanitarian aid and crisis response; building consensus between the 27 EU countries and their respective priorities – often through monthly meetings of EU foreign ministers – which she chairs; attending regular meetings of leaders of EU countries in the European Council; representing the EU at international fora such as the United Nations; heading the European Defence Agency and the EU Institute for Security Studies.

Prior to taking up her current position, Catherine Ashton was the member of the Commission responsible for trade.

She led major negotiations on the Free Trade Agreement with Korea, finalised in October 2009, and solved a number of high-profile trade disputes with major trading partners.  She also championed trade as a means of promoting development around the world, putting the EU’s economic relationship with African, Caribbean and Pacific countries on a firmer footing.

Catherine Ashton also represented the EU in the Doha Round of world trade talks and built on strong bilateral trade and investment relationships.

In 1999 she was made a Labour life peer as a result of her work towards building communities.

In June 2001 she was appointed Parliamentary Under-Secretary of State in the Department of Education and Skills. In 2002 she was made responsible for the « Sure Start » initiative in the same department.

In September 2004, Mrs Ashton was appointed Parliamentary Under-Secretary in the Department for Constitutional Affairs.

In 2005 she was voted “Minister of the Year” by The House Magazine and “Peer of the Year” by Channel 4. In 2006 she won the “Politician of the Year” award at the annual Stonewall Awards.

In June 2007 Catherine Ashton was appointed to the Cabinet of the British Labour Government as Leader of the upper Parliamentary chamber, the House of Lords.

Jean-Jacques Barbéris
Co-Head Institutional Clients Coverage at Amundi

Jean-Jacques Barbéris is the Co-Head of Institutional Clients Coverage and an Executive Board member at Amundi. Jean-Jacques started his career in the French Treasury Directorate General where he served in units in charge of commodities and financial markets from 2008 to 2012. He became then member of the cabinet of Pierre Moscovici, Minister of Economy and Finance, masterminding France funding policy agenda, contributing notably to the creation of BPI France, the French Public Investment Bank. Before joining Amundi, he acted as advisor for Economic and Financial affairs in the cabinet of the French President of the Republic, where he served from 2013-2016.

Jean-Jacques Barbéris is a graduate from Ecole Normale Supérieure Lettres et Sciences Humaines, agrégé in History, and alumni at both Sciences-Po Paris and Ecole Nationale d’Administration. He has been lecturer in advanced economics at Sciences-Po Paris from 2009 to 2012.

Laurent Bertiau
Deputy Head Institutional and Corporate Clients Division at Amundi

Laurent Bertiau is in charge of the Institutional Business globally covering Sovereign Funds, Central Banks, Insurances companies, Corporates, Pension Funds, Banks, … and an Executive Board member at Amundi.

He’s been working with Amundi from its creation in 2010.

Prior to joining Amundi, Mr. Bertiau worked at Société Générale Group from 1981 to 2010.

There, between 1986 and 1993, he was a Fund Manager in the Fixed Income department at Société Générale Asset Management (SGAM). From 1993 to 1996, he was the President of Société Générale FIMAT Trading Management in Chicago. He then served as CEO of SGAM Singapore from 1997 to 2001, SGAM Japan from 2001 to 2004, and CEO Asia from 2005 to 2008. Mr. Bertiau was appointed as Global sales and Marketing Director from 2008 to 2009 and Deputy CEO from 2009 to 2010 of Société Générale Asset Management. Laurent Bertiau is a graduate of CESB (Centre d’Etudes Supérieures de Banque) and from the University of Caen in Economics.

Pascal Blanqué
Group CIO at Amundi

Pascal Blanqué has been Chief Investment Officer Group at AMUNDI (formerly known as Crédit Agricole Asset Management, CAAM) and member of the Executive Committee since February 2005. He has also been heading the third party distributors business since 2010 up to 2016 and the Institutional Business since 2010 up to 2017. From 2000 to 2005 he was Head of Economic Research and Chief Economist of Crédit Agricole. Before joining Crédit Agricole, Pascal Blanqué was Deputy Director of the Economic Research Department at Paribas (1997-2000) following four years as a strategist in asset allocation at Paribas Asset Management in London (1992- 1996). He began his career in institutional and private asset management at Paribas in 1991.

He is also Chairman of the Board of CPR AM since January 2007.

As an economist and a financial historian Pascal Blanqué is the author of several contributions. His research interests and his academic work focus on monetary issues, the functioning of financial markets and the philosophical foundations of economics. He taught and carried out research at Ecole Normale Supérieure, Ecole Polytechnique and Paris-Dauphine University. He is a member of the French Société d’Economie Politique and of The 300 Club.

Pascal Blanqué was awarded European CIO of the Year 2013 by Funds Europe Magazine and is the recipient of the Manager Lifetime Achievement Award 2016 by Institutional Investor.

Born in 1964, Pascal Blanqué studied at the Ecole Normale Supérieure. He is a graduate of Paris’s Institut d’Etudes Politiques and holds a Phd in Finance from Paris-Dauphine University.

Elisabeth Bourqui
Head of Pension Management at ABB Group

Elisabeth Bourqui was born in 1975 and she is a Swiss, French, and Canadian citizen.

Elisabeth Bourqui currently holds the position of Head of Pension Management at ABB Group in Zurich, Switzerland. ABB Pension Management operates in over 30 countries and manages close to $11bn of assets.

Before that, Elisabeth Bourqui was a Principal in Mercer’s Investment Consulting team in Montreal, Canada, and was, up to 2012, Head of Investment solutions for major North-American Pension Funds.

Prior to that, Dr Bourqui has worked for over 12 years in Investment Banking.

Dr Bourqui worked for Société Générale in New-York and her functions were related to the sale of structured derivatives solutions to Canadian institutional clients. She also worked for Société Générale’s Fixed Income Products department in Montreal (Canada) as a financial engineer specializing in structured products. At Credit Suisse in Zurich Elisabeth was also in charge of developing Risk Management Solutions.

She holds a PhD in Mathematics from the Swiss Federal Institute of Technology of Zurich (Switzerland). She conducted research as a collaboration between the ETH Zurich and Credit Suisse. As a part-time faculty member of the John Molson School of Business, Concordia University, Montreal, she gave lectures on derivatives.

Elisabeth is a member of the Swiss Society of Actuaries.

Mark Nicholas Cutis
Chief Investment Officer Special Situations at Abu Dhabi Investment Council

Mr. Mark Nicholas Cutis joined Abu Dhabi Investment Council in March 2008 to set up “Special Situations” Group.

This de novo unit has focused on investing globally, mainly direct but also in fund format. Focus has been on capturing idiosyncratic exposures with quality counterparties. Team looks for one off transactions which may not fit neatly in any standard asset classification and hence tend to be overlooked .

Portfolio has included exposure to EM banking plays, natural resources, Japanese REITS, capital relief trades for global banks, US subprime mortgages, specialty timber plays, bio pharmaceuticals, South Asian power plants as well as reinsurance during moments of stress. Invested across capital structure to optimize returns and reduce risk. Sensitive to broad long term asset allocation themes as well as identifying suitable partners to lead transactions.

Previously at Shinsei Bank in Tokyo as Chief Investment Officer for 4 years in a more traditional asset allocation role. Before that for five years with HVB/Unicredito in NY and Tokyo. Prior work experience includes a 10 year stint at Merrill Lynch in NY and London in trading, as well as six years with EBRD in London as Treasurer. Have been allocating to alternatives managers since 6/1992

Core expertise is proprietary trading, ALM and asset allocation. Experience includes both direct “hands on management “of risk and risk takers as well as allocating to external managers in alternatives. Experience both on buy side as well as sell side. Worked in NY, London, Frankfurt, Tokyo, Moscow and now Abu Dhabi.

MBA from the Wharton School and a BA in Economics from Emory University. Elected to the Phi Beta Kappa Society. Speaks French and Greek and has a working knowledge of German. Currently studying Japanese and Spanish.

Adrian Dearnell
Founding Partner, EuroBusiness Media - Moderator

Adrian Dearnell is a bilingual Franco-American financial journalist, formerly a Bloomberg TV and BFM Business Radio anchor and former President of the Anglo-American Press Association of Paris.

With more than 20 years’ experience in financial television, Adrian has conducted 3,000 face-to-face interviews with top CEOs, investors, analysts and economists. He also regularly serves as the MC or panel moderator for many high-profile corporate events. In addition, Adrian coaches C-level executives on how to talk to the media and deliver winning investor presentations — topics on which he recently published two popular how-to books.

In 2002, Adrian founded EuroBusiness Media (EBM), a leading corporate communications agency specialized in strategic messaging: speech-writing, presentation coaching, media training, events consulting and video production.

Angus Deaton
2015 Nobel Prize in Economics

Professor Sir Angus Deaton, winner of the 2015 Nobel Prize in Economics, is one of the world’s foremost experts on the economics of well-being, health, and poverty. Distinguished for the groundbreaking use of household data analysis to establish links between individual human behaviours and societal outcomes, his work relies on real-world facts to inform big-picture economic thinking.

As Deaton points out in his book The Great Escape, the historical patterns that shape developing countries indicate that income inequality is often a consequence of progress. Advancements in medicine and technologies that promote healthy living and enable escape from destitution are denied to those who can’t afford them. This inhibits upward mobility and further widens the gap between rich and poor households.

To gain insights into the health and well being of developing nations, Deaton championed the use of household surveys to link consumption of goods and services with outcomes for, and insights into, the whole economy. For example, his studies measuring income against calorie intake in impoverished homes pointed to the value of giving poor countries economic assistance rather than food aid. His work on the distribution of household resources shed light on gender discrimination, as he found that in times of scarcity, families better provide for their boys than for their girls.

As a fundamental indicator of the health of an economy, Deaton’s use of household data proved more reliable and useful than income or gross domestic product metrics, and helped convert the development economics discipline from a reliance on theory to a grounding in the empirical.

Noted for being accessible as well as optimistic, Deaton has been lauded by the Nobel organisation as « immensely important to human welfare. » His work has helped transform modern microeconomics, macroeconomics and development economics; his findings have greatly influenced both practical policymaking and the scientific community, thus helping to not only analyse but to improve the world.

Deaton is a Senior Scholar and the Dwight D. Eisenhower Professor of Economics and International Affairs Emeritus at the Woodrow Wilson School of Public and International Affairs and the Economics Department at Princeton University and has taught at Cambridge University and the University of Bristol. He has widely published, including for the World Bank, and is a regular contributor to the Royal Economic Society newsletter. His book The Great Escape broke its publisher’s record for foreign rights sales.

In addition to his 2015 Nobel Prize for Economics, he is the recipient of numerous awards, including most recently being honoured with knighthood in the Queen’s Birthday Honours List for services to research in economics and international affairs. He also received the BBVA Foundation Frontiers of Knowledge Award and the first Frisch Medal. Deaton is a member of the National Academy of Sciences, and is a Fellow of the British Academy, the American Academy of Arts and Sciences, and the Econometric Society.

Bernard Descreux
Head of Asset Management at EDF S.A.

With his 15 people team, he is responsible for managing the financial assets that hedge the 22bn liability derived from the forthcoming costs of deconstruction of the French nuclear power plants and the long term storage of nuclear waste.

Part of these assets is managed internally:

– Government bonds and currency hedge by the Paris dealing room  ,

–  Infrastructure and real estate investments by EDF Invest .

The other part (corporate bonds and equity) is delegated to asset management companies mainly in Europe and the US.

Bernard  is also responsible for delegating to life insurers the asset management of the French defined benefits pension plans (9 bn€). He advises the supervisory boards of the Employee Savings Scheme and Employee Retirement Scheme (4 bn€ DC plans)

Bernard joined EDF S.A in 2011 after 22 years at La Banque Postale AM acting in the last ten years as CIO. Under his term, assets grew from 8 to 125bn and staff from 20 to 150 people.

Bernard graduated from Ecole Centrale de Paris (1986) as an engineer – economist. He is a chartered actuary (1990) and financial analyst (1995).

Professor Martin Feldstein
Professor of Economics at Harvard University

Martin Feldstein is the George F. Baker Professor of Economics at Harvard University and President Emeritus of the National Bureau of Economic Research. He served as President and CEO of the NBER from 1977-82 and 1984-2008. He continues as a Research Associate of the NBER. The NBER is a private, nonprofit research organization that has specialized for nearly 100 years in producing nonpartisan studies of the American economy.

From 1982 through 1984, Martin Feldstein was Chairman of the Council of Economic Advisers and President Reagan’s chief economic adviser. He served as President of the American Economic Association in 2004. In 2006, President Bush appointed him to be a member of the President’s Foreign Intelligence Advisory Board. In 2009, President Obama appointed him to be a member of the President’s Economic Recovery Advisory Board.

Dr. Feldstein is a member of the American Philosophical Society, a Corresponding Fellow of the British Academy, a Fellow of the Econometric Society and a Fellow of the National Association of Business Economists. He is a Trustee of the Council on Foreign Relations and a member of the Trilateral Commission, the Group of 30, the American Academy of Arts and Sciences, and the Council of Academic Advisors of the American Enterprise Institute.

Dr. Feldstein has received honorary doctorates from several universities and is an Honorary Fellow of Nuffield College (Oxford), and Brasenose College (Oxford). In 1977, he received the John Bates Clark Medal of the American Economic Association, a prize awarded every two years to the economist under the age of 40 who is judged to have made the greatest contribution to economic science. He is the author of more than 300 research articles in economics.

Dr. Feldstein has been a director of several public corporations. He is also an economic adviser to several businesses and government organizations in the United States and abroad. He is a regular contributor to the Wall Street Journal and other publications.

Martin Feldstein is a graduate of Harvard College and Oxford University. He was born in New York City in 1939. His wife, Kathleen, is also an economist. The Feldsteins have two married daughters.

Nick Fitzpatrick
Group Editor of Funds Europe Ltd - Moderator

Nick Fitzpatrick is group editor of Funds Europe Ltd, which publishes fund management magazines for professional investors and fund selectors in Europe, Asia and the Middle East. He has been a financial journalist for 15 years, covering investment trends, the UCITS mutual funds industry, and regulation. He holds an undergraduate degree in Spanish.

Sir Simon Fraser
Former Permanent Secretary at the Foreign and Commonwealth Office

Simon Fraser is Managing Partner of Flint Global Ltd, a company that supports businesses in successfully handling major transactions, and in managing the impact of legislative and regulatory change in London, Europe and international markets.

Simon previously served as Permanent Secretary at the Foreign and Commonwealth Office (FCO) and head of the UK Diplomatic Service from August 2010 to July 2015. In this period he was on the UK’s National Security Council.

Prior to that Simon was Permanent Secretary at the UK Department for Business, Innovation and Skills. He has also served as Director General for Europe and Globalization in the FCO and as chief of staff to European Trade Commissioner Peter Mandelson. These roles have given him deep experience of working at the interface between government and business in the UK and the EU.

Simon’s particular foreign policy expertise is in Europe, trade and economic diplomacy, France and the Middle East. As well as spending six years in the European Commission, he has worked in the British Embassies in Baghdad and Damascus and as political counsellor at the British Embassy in Paris and Head of Policy Planning in the FCO.

As Permanent Secretary at the FCO during a period of great international upheaval and domestic austerity, Simon Fraser led an expansion of the UK’s diplomatic network while taking almost 25 per cent out of FCO running costs. He has a strong interest in leadership of people and organizations, and was the UK Civil Service champion for diversity and inclusion.

Matteo Germano
Global Head of Multi-asset Investments at Amundi

Matteo Germano is Amundi’s head of Multi-asset solutions investment platforms for both Retail and Institutional and Corporates, and an Executive Board member at Amundi. He is also CIO for Italy. He has been working in the investments industry since 1996. Previously he was the Global Head of Multi-Asset Investments at Pioneer Investments.

An Economics graduate of the University of Genoa, Matteo completed a MSc in Finance at the University of London before starting with Eurispes and Furman Selz. He then joined UniCredit, holding different research roles. At Pioneer, he first led the Global Research teams before moving to Multi Asset. He is a member of the Global Investment Committee and of several supervisory boards (Italy, Germany, Austria).

Robert J. Gordon
Bloomberg’s Fifty Most Influential Thinkers 2016

Robert J. Gordon is one of the world’s most influential economists. He has attracted worldwide attention from academics, print media, and the blogosphere by his controversial analysis predicting that future economic growth in the U. S. will be a mere fraction of its historic rate. He was selected for the Politico 50, those shaping the political debate in 2016 and on Bloomberg’s Fifty Most Influential 2016 list. In 2013 he was selected one of Bloomberg’s Top 10 Most Influential Thinkers.

In his acclaimed and best-selling 2016 book, The Rise and fall of American Growth, Bob argues that the true driver of economic growth over the last century was a series of one-time inventions whose impact has come and passed. Electricity, internal combustion engine, running water, indoor toilets, communications, entertainment, chemicals, petroleum — these created a wave of growth unmatched in human history. But they have had their effect: they have created all the U.S. growth they ever will. And the current wave of online and mobile innovations, by contrast, will never create the same sort of boom in growth that those more fundamental industrial innovations did.

What’s more, the U.S. is facing six devastating factors that will slow any growth that could come from new innovations: demography, education, inequality, globalisation, energy/environment, and debt. Between the loss of life-changing innovation and the drag of these six « headwinds », U.S. growth could fall below 0.5 percent per year for decades.

This new research joins his earlier studies showing that conventional data greatly understate the welfare of Europe relative to the U.S.; why European productivity growth has lagged that of the U.S. since 1995; why U.S. income inequality has widened since 1975; and why unemployment increased so much relative to the behaviour of output in the 2008-09 U.S. recession.

Robert’s books include Macroeconomics, twelfth edition, which has been translated into eight languages, and three scholarly books: The Measurement of Durable Goods Prices, The American Business Cycle, and The Economics of New Goods. His book of collected essays is Productivity Growth, Inflation, and Unemployment.

Robert J. Gordon is the Stanley G. Harris Professor in the Social Sciences and Professor of Economics at Northwestern University. He is a Fellow of the Econometric Society and the American Academy of Arts and Sciences, and a Distinguished Fellow of the American Economic Association. He is a Research Associate of the National Bureau of Economic Research and a member of the NBER’s Business Cycle Dating Committee, a Research Fellow of the Centre for Economic Policy Research (London) and the Observatoire Français des Conjunctures Economiques (OFCE, Paris), and an economic adviser to the Bureau of Economic Analysis.

 

Anthony Hilton
Economics and Business journalist - Moderator

Anthony Hilton is an economics and business journalist with more than 40 years experience in London as a columnist,  editor,  executive and main board director of Associated Newspapers, publishers of the Daily Mail, during which time he has won most of the awards in business journalism and been awarded an honorary degree from the University of Aberdeen.

He is currently senior business columnist for the Evening Standard and The Independent

In addition he has founded and chaired several media companies, and served as a director and adviser to a management consultancy and a Lloyd’s of London insurance company. He served 17 years as a pension trustee and currently serves on the investment advisory committee of the Harmsworth pension schemes. He has served as a visiting professor in Business and Economics at London Metropolitan University.

He has extensive experience in the not for profit centre having served on fund raising and organising committees of the St Johns Ambulance national appeal, London First, the Aberdeen University Sixth Century Appeal, the Essex University finance sub committee, and the Children’s Film Unit.

He is currently chair of Dance East one of the leading contemporary dance houses outside London.

Roel Huisman
Chief Retail Banking officer, TMB Bank PCL Thailand

Roel has been working as the Chief Retail Banking Officer of TMB Bank and Chairman of the Board of Directors of TMB Asset Management as of July 2015.

From 2010 until 2015, he was the CEO of ING-DiBa Austria (Austria’s market leading direct bank) and country CEO for ING Austria. As of June 2013, Roel also acted as Programme Director for ING´s global Cybercrime Resilience Programme, initiating and driving structural improvement measures to deal with the increasing threat of Cybercrime.

From 2006 until 2010, he worked at ING Retail in The Netherlands as Director of Payments. As part of this job, he managed the post-merger integration of ING’s two Dutch retail bank subsidiaries ING Bank and Postbank.

Between 2000 and 2006, Roel worked as Head of Giro Payments at Postbank, as a Programme Manager within ING Wholesale´s IT domain and as a business development manager at Wellowell, Nationale Nederlanden’s E-Commerce start-up (aggregator portal).

In 1999, Roel joined ING Group as a trainee in ING´s Global Management Programme.

Roel has a master’s degree in Law from the University of Leiden, the Netherlands and has completed the General Management Programme-CEDEP at INSEAD in Fontainebleau, France.

Dr Jeffrey Jaensubhakij
Group Chief Investment Officer - GIC

Dr Jeffrey Jaensubhakij was appointed as Group Chief Investment Officer on 1 January 2017. Dr Jeffrey Jaensubhakij  has been President, Public Markets and Director of Public Equities at GIC since April 2013, and was concurrently appointed Deputy Group Chief Investment Officer in Jun e2016. Dr Jaensubhakij joined GIC in 1998 as a Senior Economist covering the US economy. He has held asset allocation portfolio responsibilities as Co-Head of Asset Allocation Strategy in the Economics and Strategy Department, and form 2003 to 2011 was Head of Total Return Equities and the US Equities teams based in GIC’s New York Office. In 2011, he was appointed President, Europe responsible for coordinating GIC’s investment activities in Europe across public and private asset classes.

Dr Jaensubhakij holds a BA in Economics from Cambridge University, as welle as a Masters an PhD un Economics from Stanford University.

Philippe Ithurbide
Chief Economist at Amundi

Philippe Ithurbide joined Amundi as Global Head of Research, Analysis and Strategy in July 2010.

From 2006 to 2010, he has worked at “Caisse de Dépôt et Placement du Québec”. A member of the Executive Committee and of the asset allocation committee he was, in turn, Executive Vice President in charge of fixed income, currency and credit from 2007 to 2009, and of multi-asset class overlay strategy subsequently. He was previously in charge of strategic investment in the fixed income and credit division. Prior to that, he worked for Société Générale (SGCIB) from 1991 to 2006 as head of research in foreign exchange, fixed income and commodities, having joined as chief economist. Member of the board of SG’s pension fund (2000-2006), he was in charge of asset allocation. In 1989 he was appointed chief economist at the Manufacturers Hanover Bank France after serving in the same role at the Banque Française de Commerce Extérieur.

Philippe Ithurbide started his career as teacher/researcher at the University of Bordeaux, Laboratoire d‘Analyse et de Recherche Economiques (CNRS) in 1982. For more than 20 years he taught at several universities, in France, in Spain, in Colombia, in the US, and at HEC Paris.

Born in 1958, Philippe Ithurbide holds a PhD in International Economics and Finance from the University of Bordeaux. He is, amongst other activities, member of the board of “OEE”, (L’Obervatoire de l’Epargne Européenne) and in charge of the Asset Management working group at Finance Innovation, (Paris-Europlace).

Fathi Jerfel
Global Head Retail Clients Division at Amundi

Fathi Jerfel is the Global Head Retail Clients Division and an Executive Board member at Amundi.

From 2010 to February 2016, Fathi Jerfel has been responsible for the management of the “Investment Solutions for Retail Network Division”. Since January 2008, Fathi Jerfel has been a member of the General Management Committee of Crédit Agricole Asset Management, heading up the specialized management division including structured and guaranteed investment management, alternative investments, real estate management, multi-management and private equity. In January 2005, Fathi Jerfel became CEO of Crédit Agricole Structured Asset Management (CASAM), the subsidiary dedicated to structured asset management, guaranteed funds, alternative management account platform and Exchange Traded Funds. In March 2003, he became a member of Crédit Agricole Asset Management’s Executive Committee. Fathi joined CAAM in 1996 and assumed the role of Head of Structured and Convertible Management and Quantitative Research in 2002.

He started his career at Crédit Lyonnais where he held various positions in financial engineering (1992-1996), fixed income management (1990-1992) and trading (1986-1989). Fathi Jerfel holds an engineering degree from École Polytechnique (1983) and a specialized engineering degree from the Institut Français du Pétrole (1986). He also holds a post-graduate degree in Economics (Petroleum Management) (1986).

Enrico Letta
Former Prime Minister, Italy

Enrico Letta is the Dean of the Paris School of International Affairs (PSIA) at Sciences Po in Paris. He was the Prime Minister of Italy from April 2013 to February 2014.

Before he served as Minister for EU Affairs (1998-1999), as Minister for Industry, Commerce and Crafts (January-April 2000, during the second D’Alema Government), as Minister for Industry, Commerce and Crafts and Foreign Trade (2000-2001, during the second Amato Government) and as Undersecretary of State to the Prime Minister of the centre- left government led by Romano Prodi from 2006 to 2008.

Between 2001 and 2015 he was Member of the Italian Parliament, excluding between 2004 and 2006 when he was Member of the European Parliament. He also served as deputy Secretary of the Democratic Party (PD) from 2009 to 2013.

From 1993 to May 2013 he managed an independent think tank, Arel, founded by the late Beniamino Andreatta. He was also Vice Chairman of Aspen Institute Italia, President of the Italy-Spain Dialogue Forum, and a member of the Trilateral Commission.

He was born in Pisa (Tuscany) in 1966 and he spent the rst years of his life in Strasbourg. He graduated in International Law at the University of Pisa and obtained a PhD in European Union Law at the School for Advanced Studies “Sant’Anna” of Pisa.

His whole career and thought have been shaped by a strong commitment to Europe.

He is the author of many books on international and economic affairs, with particular reference to EU enlargement, including:

  • Euro sì – Morire per Maastricht (Laterza, 1997);
  • Dialogo intorno all’Europa (with L. Caracciolo, Laterza, 2002); L’allargamento dell’Unione Europea (Il Mulino, 2003);
  • L’Europa a Venticinque (Il Mulino, 2005);
  • In questo momento sta nascendo un bambino (Rizzoli, 2007);
  • Costruire una Cattedrale (Mondadori, 2009);
  • L’Europa è nita? (with L. Caracciolo, ADD Editore 2010);
  • Andare insieme, andare lontano (Mondadori, 2015).
Jean-Marie Masse
Chief Investment Officer - International Finance Corporation (IFC)

Mr. Masse joined IFC in 1994 and brings 25 years of direct investment experience, with a focus on banking, insurance, funds, asset management and specialty finance across Europe, Russia & CIS, Africa, Asia and Latin America.

Mr. Masse is the Transaction Manager, leading the GCBF. Mr. Masse currently oversees a global portfolio of equity and quasi equity invested in emerging markets financial institutions.

Mr. Masse is a French national and holds a MBA from INSEAD, an Ingénieur Agronome diploma (Master of Science degree-equivalent) from a leading engineering school in France, and is an IFC Global Leadership Program alumni.

He received a record 26 World Bank Group Performance Awards for Outstanding Achievements, and regularly represents IFC in global forums and with the press.

Vincent Mortier
Deputy CIO at Amundi

Vincent Mortier is Deputy Chief Investment Officer (CIO) and an Executive Board member at Amundi. He has been working in the investment industry since 1996 and has been with the Group since 2015. He was also Global Head of Multi-Asset until 2016. He is responsible for assisting Pascal Blanqué in his CIO role, managing directly the multi-asset business line and overseeing Amundi’s business in Greater China and South-East Asia.

Vincent started his career at Société Générale in 1996. He held several senior positions within the Group, rising to the position of Chief Financial Officer of the Global Banking and Investor Solutions (GBIS) division in 2013. He was previously CFO of Société Générale Corporate and Investment Banking (SG CIB), Co-Head of Equity Finance (SG CIB) and Head of Strategy and Development – Global Equities and Derivatives Solutions (SG CIB). He also sat on the SG GBIS Executive Committee.

Vincent holds an MBA from ESCP Europe Business School.

Xavier Musca
Deputy CEO of Crédit Agricole S.A.

Xavier Musca was appointed Deputy Chief Executive Officer in charge of International Retail and Commercial Banking, Asset Management and Insurance on 17 July 2012.

From 2002 to 2004, Xavier Musca was Principal Private Secretary to the Minister for the Economy, Finance and Industry, Francis Mer. In 2004, he was appointed Director of the Treasury. In this capacity he chaired the Paris Club and the Economic and Financial Committee of the European Union, composed of senior officials from Europe’s national administrations and central banks. He left the Treasury on 26 February 2009 to join the Office of the French President as Deputy Secretary General in charge of economic affairs. On 27 February 2011, he was appointed Secretary General of the President’s Office.

Xavier Musca is a graduate of Sciences Po Paris and École Nationale d’Administration.

Christian Pellis
Global Head of Distribution at Amundi

Christian Pellis is the Global Head of Distribution and an Executive Board member at Amundi. He has a wide experience in the distribution segment across Europe. Before joining Amundi in January 2013, he worked as Head of Distribution at LGT Capital Management where he was also member of the Executive Board (2010-2012).

Christian was Head of European Distribution at Threadneedle’s UK operation in London with a particular focus on the distribution and institutional business in Europe and Latin America (2004-2010). Christian spent much of his career at Threadneedle Investments, first in Frankfurt, as Regional Sales Director for Europe (1998-2001), then at Threadneedle’s UK operation in London, where he held a similar position with responsibility for developing new markets in Europe and Latin America (2002-2004). Christian’s early career was spent at Fleming Fund Management in Luxembourg (1993-1998) where he held management positions in client services and marketing.

Yves Perrier
Chief Executive Officer of Amundi

Yves Perrier Chief Executive Officer of Amundi Yves Perrier, member of Crédit Agricole S.A. Executive Committee (since 2003) is Head of Asset Management, Insurances and Real estate since September 2015. As such, he is Chief Executive Officer of Amundi Asset Management and also supervises Crédit Agricole Insurance and Crédit Agricole Immobilier (real estate division of Crédit Agricole). Previously he was Head of Asset Management, Securities and Investor Services at Crédit Agricole S.A. from September 2007 till August 2015. During that period, he oversaw the creation of Amundi and was also Chairman of the Board of Directors of CACEIS, a leading European fund custodian and administrator. Previously (2003-2007), he served as Deputy Chief Executive Officer of Calyon (CACIB today) with responsibility for structured finance, brokerage, risk, support functions and international network. Yves Perrier began his career in audit and consulting (1977-1987). He then joined Société Générale where he held a number of positions between 1987 and 1999, namely Chief Financial Officer (1995-1999), before moving to Crédit Lyonnais as a member of its Executive Committee with responsibility for finance, risk and audit functions (1999-2003). From May 2015 to May 2017, he was also Chairman of the AFG (Association Française de la Gestion financière). Born in 1954, Yves Perrier is a graduate of the ESSEC business school and is a Certified Public Accountant (CPA).

Professor Raghuram Rajan
Former Governor of the Reserve Bank of India

Raghuram Rajan is the Katherine Dusak Miller Distinguished Service Professor of Finance at the Booth School of Business at the University of Chicago. He was the Governor of the Reserve Bank of India between 2013 and 2016, and also served as Vice-Chairman of the Board of the Bank for International Settlements between 2015 and 2016. Dr. Rajan was the Chief Economist and Director of Research at the International Monetary Fund from 2003 to 2006.

Dr. Rajan’s research interests are in banking, corporate finance, and economic development, especially the role finance plays in it. He co-authored Saving Capitalism from the Capitalists with Luigi Zingales in 2003. He then wrote Fault Lines: How Hidden Fractures Still Threaten the World Economy, for which he was awarded the Financial Times-Goldman Sachs prize for best business book in 2010.

Dr. Rajan was the President of the American Finance Association in 2011 and is a member of the American Academy of Arts and Sciences and the Group of Thirty. In 2003, the American Finance Association awarded Dr. Rajan the inaugural Fischer Black Prize for the best finance researcher under the age of 40. The other awards he has received include the Deutsche Bank Prize for Financial Economics in 2013, Euromoney magazine’s Central Banker of the Year Award 2014 and The Banker magazine’s Global Central Banker of the Year award in 2016. In that year, Time magazine chose Dr. Rajan as one of the 100 most influential people in the world.

Frédéric Samama
Co-Head Institutional Clients Coverage at Amundi

Frédéric Samama is the Co-Head of Institutional Clients Coverage at Amundi. He joined Amundi in 2009 and he is the founder of the SWF Research Initiative. Formerly, he oversaw Corporate Equity Derivatives within Credit Agricole Corporate Investment Banking in New York and Paris. During his tenure, he developed and implemented the first international leveraged employee share purchase program, a technology now widely used among French companies. He has advised the French Government in different areas (employee investing mechanisms, market regulation, climate finance, etc.) and has a long track record of innovation at the crossroads of finance and government policy. Over the past few years, his action has been focused on climate change with a mix of financial innovation, research and policy making recommendations.

He is a graduate of the Stanford Executive Program and holds a diploma from Neomia Business School.

Dr. Jürgen Stark
Former member of the Executive Board and the Governing Council of the European Central Bank

Jürgen Stark was a member of the Executive Board and the Governing Council of the European Central Bank (ECB) from 2006 to 2011. He was responsible for Economics, Statistics and Information Systems. He resigned from this position in December 2011.

Before joining the European Central Bank, Jürgen Stark was Vice-President of the Deutsche Bundesbank, where he held responsibility for European and International Affairs. Prior to this he served as State Secretary (Deputy Minister) for European and International Affairs at the German Federal Ministry of Finance and as Personal Representative of the Federal Chancellor in the preparation of G7/G8 Economic Summits (Sherpa) for four years. Before that he held various positions at the Ministry of Finance, the Federal Chancellery and the Federal Ministry of Economics dealing with national and international monetary and financial issues. For about thirty years he was involved in the European project.

Jürgen Stark served as a Member of the Economic and Financial Committee of the EU (from 1999 to 2011 and from 1995 as a Member of the then Monetary Committee). From 1995 until 2006 he was a Member of the G7-, G10- and G20-Deputies (from 1999), and of the ESCB’s International Relations Committee as well as Alternate Governor for Germany at the IMF and a Deputy Member of the Board of Directors of the Bank for International Settlements (from 1998). Furthermore, he was Member of the Financial Stability Forum and Member of the Committee on the Global Financial System (1998-2006). From 1995 to 1999 he was Member of the Supervisory Board of Deutsche Bahn and Deutsche Telekom.

Since 1999 he has been Deputy Chairman of the Administrative Council and of the Board of Trustees of the ifo Institute in Munich and, from 2003 to 2014, Chairman of the Board of Trustees of the University of Hildesheim Foundation (Lower Saxony).

After his resignation from the ECB, Jürgen Stark has joined different Boards of Trustees of German Foundations, including Bertelsmann Foundation and Senckenberg Society. After the cooling off period of twelve months he set up a business as Consultant in 2012.

His publications include many articles and papers in professional journals on public finances, European monetary integration, institution building and the global financial system.

Jürgen Stark was born in Gau-Odernheim (Rhineland Palatinate) in 1948. He studied economics at the universities of Hohenheim and Tübingen and graduated in 1973. He gained a Doctorate in economics 1975 and was appointed honorary professor by Tübingen University in 2005.

Els Verhoyen
Head of Savings & Investment Services at ING

Els Verhoyen has been the Head of Savings & Investment Services at ING Belgium since May 2011. After graduating cum laude master of law at the University of Leuven and a Research Assistantship at the university of Michigan law school (Ann Arbor, USA) she joined ING (at that time still BBL) in 1988. Her previous experiences include Head of Legal & Compliance with the Asset Management Company of ING and Commercial Director for Private Banking. Her education also includes postgraduate degrees in financial management at KUL and at the Vlerick business.

Wim Vermeir
Group Head of Investments, Ageas

Wim Vermeir is Group Head of Investments for Ageas (since June 2012) and CIO of AG insurance (April 2011). Ageas is an international insurance company, ranked among the top 20 insurance companies in Europe with activities in Europe and Asia In Belgium, Ageas is the market leader for individual life and employee benefits, as well as a leading non-life player, through AG Insurance. Before joining AG/Ageas, Wim held different positions at Dexia Asset Management between 1995 and 2006, amongst others equity manager, head of socially responsible investing, head of global balanced management and head of equity . In 2006, he was appointed CIO for Traditional Investments and member of the executive committee at Dexia Asset Management. Wim started his career at University Ghent and Vlerick School of Management as research assistant in corporate finance. He holds a degree of civil engineer in physics (University Ghent) and an MBA (Vlerick School of Management).

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