Banking & Capital Markets

 


The Banking & Capital Markets Industry Partners are top companies in the Banking, Brokerage, Stock Exchange and Credit Card sectors.

Partners participate in setting the global and industry agendas through collaborative involvement in projects, dialogue series, and communities that are designed based on the interests of the Banking and Capital Markets' community. Topics range from challenging business issues, to core policy recommendations, to corporate social responsibility.

These activities leverage the Forum’s unparalleled ability to convene senior decision makers from all different sectors, creating an effective platform for collaboration, innovation, and leadership.

Industry Partners’ enjoy privileged access to the Forum’s networks across business, government, academia, and non-governmental organizations. Industry Partnership also allows a company’s CEO or Chairman to participate in the Financial Services Governors community at the Forum's Annual Meeting in Davos.

Key annual milestones in the Industry Partnership Programme are the Financial Services Governors’ Meeting at the World Economic Forum Annual Meeting in Davos; the Industry Partnership Strategists Meeting in the Fall in New York; the Financial Services Roundtable in conjunction with a Forum Regional Summit; and project working sessions.

Portfolio of Industry Initiatives/Projects

Financial services industry initiatives are shaped by Industry Partners in collaboration with the public and multilateral sectors, academia and Forum project teams. Initiatives provide opportunities for sustained interaction through dedicated activities throughout the year. Senior, multistakeholder steering committees and working groups ensure the strategic direction and quality of the work. The current portfolio of Financial Services initiatives includes:

  • Accelerating Local Capital Market Development 
    Capital markets play a critical role in economic development through the efficient allocation of domestic and international savings into productive investments. However, in many emerging economies, capital markets remain underdeveloped or are altogether non-existent. This presents several challenges: domestic institutions, such as pension funds and insurers, struggle to match their liabilities with appropriate local assets; foreign investors struggle to fund important assets, such as infrastructure, due to information asymmetry, transaction costs and unhedgeable currency exposure; local companies with access often resort to raising capital in G10 foreign currencies, putting them at risk of severe exchange rate volatility, etc. This project asks whether the process of developing a well-functioning local currency capital market can be accelerated and what concrete initiatives need to be catalysed. Specific areas of focus include: a) accelerating the development of local corporate bond markets; b) creative approaches to developing market infrastructure for local equity and bond markets and c) the role of local market players: pension funds, insurers and fund managers, in achieving these objectives.
  • Benchmarking Financial Systems
    A mature, stable, and sophisticated financial system helps corporations secure funding for entrepreneurship and expansion, generate jobs, and facilitate economic growth. Many fast-growing emerging market economies, including the BRICS and a number of countries in the Middle East and East Asia, have developed fully-functioning financial markets. However, creating stronger legal and regulatory standards and aspiring toward greater financial stability, among other goals, are critical for further economic development. Benchmarking Financial Systems provides a quantitative assessment of the maturity of select financial systems around the world. In addition, it seeks to generate strategic insights and dialogue between market practitioners and policymakers in order to assist in the formation of new business models, market strategies, and shape the policy reform agenda.
  • Disruptive Innovations in Financial Services
    With the accelerating pace and adoption of technological change, a number of emerging, or existing, technologies have the potential to significantly disrupt the traditional business models across financial services. Although these changes have the potential to negatively impact profitability and market share, they also represent an enormous opportunity for financial institutions that are adaptive. A competitive advantage exists for those financial institutions that can identify, adopt and/or adapt to truly game-changing technologies, with the potential of rendering successful businesses more nimble, competitive and efficient.
  • Promoting Global Financial Inclusion
    Financial exclusion represents a market failure. While proven demand for financial services exists, supply has not developed for various reasons. Today, over half of the world's working-age population (~2.5 billion adults) does not use quality, affordable financial services. The Financial Inclusion initiative focuses on different dimensions of financial inclusion, including: access to credit, savings, payments, insurance, financial capability, enabling a favourable and consistent regulatory environment, building trust in the system, and the delivery of funds via technology. The initiative aims to use the Forum’s unique multistakeholder platform to facilitate opportunities for cross-industry and cross-sector collaboration to jointly tackle key issues, share common pitfalls and best practices, and identify a joint innovation agenda.
  • The Role of Financial Services in Society
    In recent years, the financial services industry has come under increased scrutiny, in particular for its role in contributing to the financial crisis, and in light of on-going scandals. The resulting deterioration of public confidence has led many to question the role of financial services in society. Building on a multi-year effort, led by chief executives and senior managers of financial institutions, regulators, economists, academics and civil society representatives to restore trust in the financial system, questions remain on a number of critical issues, including: improving conduct within the industry, managing trade-offs between innovation and safety, and supporting credit growth without creating asset bubbles. The Role of Financial Services in Society initiative provides an opportunity for the financial services community to address these questions and assess how the industry can better contribute to economic and social value creation.

Global Agenda Councils
The Banking and Capital Markets Industry Partners also has 4 related councils for the 2010 - 2011 Global Agenda Councils:  
Future of Banking
Future of Financing & Capital Markets
Global Financial System

For more information contact: financialservices@weforum.org 
Gian Carlo Bruno, Senior Director, Head of Financial Services, Giancarlo.bruno@weforum.org 
Matthew Blake, Associate Director, Head of Banking & Capital Markets, matthew.blake@weforum.org 
Nadia Guillot, Senior Community Manager, Banking & Captial Markets, nadia.guillot@weforum.org
Lisa Donegan, Senior Community Manager, Banking & Capital Markets, lisa.donegan@weforum.org
Gilles Fuchs, Senior Community Manager, Banking & Capital Markets, Gilles.Fuchs@weforum.org 
Todd Glass, Senior Project Associate, Banking & Capital Markets, Todd.Glass@weforum.org
Michael Koenitzer, Associate Director, Head of Project Management Financial Services, Michael.Koenitzer@weforum.org
Tiffany Hart, Team Coordinator, Banking & Capital Markets, Tiffany.Hart@weforum.org