“Brexit” and Asset Management
Held on Tuesday, June 20, 2017
In association with ICI Global and the London Institute of Banking & Finance
Dan Waters (ICI Global)
Tim Stumpff (Principal Global Investors)
Janice Olyarchuk (Comgest)
Madison Marriage (FT)
Wholesale banks have responded to “Brexit” by announcing thousands of job cuts and hinting at relocation. Trading venues, dealers and regulators are agonising publicly over the fate of Euro-clearing. Two of the UK’s big financial trade bodies have just merged to lobby harder on Brexit. So, what is the asset management industry up to?
That is not so clear. As Sam Woods put it in a joint FCA/BoE letter to the industry, “the level of planning is uneven across firms and plans may not be being sufficiently tested against the most adverse potential outcomes."
Whatever the industry is up to, it seems that light touch solutions are off the table – both ESMA and EIOPA are standing firm against brass plates and letterboxes.
So what should international asset managers be doing, and what do they need from policy makers and regulators? To find out, we are delighted to welcome Dan Waters, Managing Director of ICI Global, the international arm of the Investment Company Institute. Prior to joining ICI Global, Dan was asset management sector leader at the FSA, UK rep at IOSCO and CESR, and head of international enforcement at the U.S. CFTC. Few people understand the domestic and international implications of Brexit better than Dan.
That said, he won’t have things all his own way. Joining him we are delighted to welcome:
- Tim Stumpff is the Chief Executive Officer of Principal Global Investors Europe. He joined Principal in 2003, and has previously been president of Morley Financial Services and president of Liongate Capital Management.
- Janice Olyarchuk, group head of compliance, legal and risk at Comgest Asset Management. Previously, she was head of legal for Bank of Ireland Global Markets.
- Madison Marriage, asset management correspondent for the FT and deputy editor of FTfm. Prior to joining the FT, Madison was a correspondent for Investment Europe and at Hedge Funds Review.
- Angus Canvin was (until very recently) head of Brexit for the Investment Association. He has worked at both the BoE and FCA, been a national expert at the European Parliament, and is a former director of government affairs with Goldman Sachs.
If you (or a colleague) would like to join us, please register online here or call the CSFI on 020 7621 1056. Wine, refreshments and sandwiches will be available courtesy of the LIBF. Sincerely yours,