| Saturday, September 25, 1999 |
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8:45-10:30 |
Beyond the Crisis: The Outlook for Private Capital Flows to Emerging Markets
Joyce Chang is Managing Director and Head of the International Fixed Income Research Department for Chase Securities. She oversees fixed income research covering countries and corporations in Latin America, Asia, Central and Eastern Europe, the Middle East and Africa. Prior to joining Chase Securities, Ms. Chang was Managing Director of the International Emerging Markets Fixed Income Research Department at Merrill Lynch.
Andrew Crockett is General Manager of the Bank for International Settlements, and Chairman of the Financial Stability Forum. His previous appointments include Deputy Director of the International Monetary Fund's Research Department, and Executive Director of the Bank of England. He was also a member of the Monetary Committee of the European Union and Chairman of the OECD's Working Party Three.
Stanley Fischer is First Deputy Managing Director of the International Monetary Fund, a post he assumed in September 1994. Prior to his position at the Fund, Mr. Fischer was the Killian Professor and the Head of the Department of Economics at the Massachusetts Institute of Technology. From 1988 to 1990 he served as Vice President, Development Economics and Chief Economist at the World Bank.
Jeffrey A. Goldstein is Managing Director at the World Bank. As a member of the senior management team, he is responsible for corporate leadership and strategy, overseeing management of the institution's internal and external financial affairs. Prior to joining the Bank, Mr. Goldstein was Co-Chairman of BT Wolfensohn and a member of the Bankers Trust Company Management Committee. He has taught economics at Princeton University and worked at the Brookings Institution and the US Department of the Treasury. In these positions, his research and other work focused on international financial policy issues.
Arminio Fraga Neto is Governor of the Central Bank of Brazil. Previously, he was Managing Director of Soros Fund Management in New York, and from 1991 to 1992, he served as a board member and Director of International Affairs at the Central Bank of Brazil. Mr. Fraga teaches at the Graduate School of Economics at Getulio Vargas Foundation in Rio de Janeiro, and he has taught at the School of International Affairs at Columbia University in New York, the Wharton School in Philadelphia and the Catholic University in Rio de Janeiro.
J. Mark Mobius, is Managing Director of Templeton Asset Management Ltd., the emerging markets headquarters of Templeton Worldwide, Inc. He is responsible for research and portfolio management in emerging market countries. He is also President of the Templeton Emerging Markets Fund, Inc.
Anthony Neoh is Visiting Professor at Beijing University and Chief Advisor to the China Securities and Futures Commission. He was formerly the Chairman of the Hong Kong Securities and Futures Commission, and from 1996 to 1998 he was Chairman of the Technical Committee of the International Organization of Securities Commissions (IOSCO). He is a member of the Hong Kong Bar, the English Bar and the California Bar. He was appointed Queen's Counsel in 1990.
James D. Wolfensohn is President of the World Bank Group. Before joining the World Bank he was an international investment banker and a key supporter of the performing arts. He has held the positions of President and Chief Executive Officer of James D. Wolfensohn Inc., Executive Deputy Chairman and Managing Director of Schroders Ltd., Chairman of the Board of Trustees of the John F. Kennedy Center for the Performing Arts and of New York's Carnegie Hall. |
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| 11:00 - 12:30 |
Exchange Rate Systems for Emerging Markets: One Size Fits All?
Jeffrey Frankel holds the Harpel Chair at Harvard University's Kennedy School of Government. He also directs the National Bureau of Economic Research (NBER) program in International Finance and Macroeconomics. He served for two years on President Clinton's Council of Economic Advisers.
Ricardo Hausmann is the Chief Economist of the Inter-American Development Bank (IDB). Previously he was the Minister of Coordination and Planning of Venezuela and the Chairman of the Joint Development Committee of the International Monetary Fund and the World Bank. He is Professor of Economics at Instituto de Estudios Superiores de Administración of Venezuela.
Carola Kaps is US Economic Correspondent of the Frankfurter Allgemeine Zeitung (FAZ). Before joining the FAZ she worked with the German Parliament in Bonn. Ms. Kaps sits on the Board of the International Womens Media Foundation (IWMF) and is a member of the Selection Committee for the Bosch Fellowship. Ms. Kaps holds a Master Degree in Economics from the Johann Wolfgang v. Goethe University, Frankfurt.
Michael Mussa has been Economic Counsellor and Director of the Department of Research at the International Monetary Fund since 1991. Previously, Mr. Mussa held the William H. Abbott Professorship of International Business Graduate School of Business of the University of Chicago. By appointment of President Ronald Reagan, Mr. Mussa served as a member of the US Council of Economic Advisers from August of 1986 to September 1988.
Roberto Zahler is President of Zahler & Co. From 1991 to 1996, Mr. Zahler was President of the Central Bank of Chile. Mr. Zahler, holds a Ph.D. in economics from the University of Chicago, has lectured at the Universidad de Chile and other institutions, and has published extensively on monetary and financial issues. |
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| 11:00 - 12:30 |
Bank and Corporate Restructuring after Crises: Which Prescriptions Work Best?
Mark Carawan is Managing Partner for Arthur Andersen's Global Privatization and Emerging Markets Practice. He has considerable experience in the area of financial sector restructuring, including: the establishment, design, development, and implementation of financial sector restructuring authorities and agencies; directing bank crisis resolution teams; and the restructuring of regulatory and supervisory functions following financial sector crises.
Hasung Jang is Professor of Finance in College of Business Administration, Korea University, and Chair of the Korean Minority Shareholders Right Activist Group. He received his M.B.A. from College of Business Administration, Korea University and his Ph.D. in Finance from the Wharton School, University of Pennsylvania. Mr. Jang has published extensively.
David A. Lipton is Senior Associate at the Carnegie Endowment for International Peace. Mr. Lipton served in the Clinton administration at the Treasury Department from 1993 to 1998 as Under Secretary of the Treasury for International Affairs, and before that as Assistant Secretary. He covered all aspects of international economic policy, and over the past year he led the Treasury's response to the financial crisis in Asia and the effort to modernize the international financial architecture.
Andrei Shleifer is Professor of Economics at Harvard University. He has published extensively on financial and governance issues. Mr. Shleifer worked as an advisor to the Government of Russia from 1991, and recently received the prestigious John B. Clark medal for best economist under the age of 40.
Lorenzo H. Zambrano is Chairman of the Board and Chief Executive Officer of CEMEX. Mr. Zambrano is also a member of the Board of Directors of several companies and cultural and academic institutions, including the Museum of Modern Art, the World Bank's Economic Development Institute, and the US-Mexico Commission for Educational and Cultural Exchange. |
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| 11:00 - 12:30 |
The Road Less Traveled: Public/Private Partnerships for Development *
Nick Butler is Group Policy Adviser of BP Amoco, assisting Sir John Browne, Group Chief Executive in the United Kingdom. Mr. Butler is a member of the Executive Council of the Royal Institute of International Affairs, Chatham House and Chairman of the Centre for European Reform. He is also a member of Global Issues group of the World Economic Forum.
Maria Livanos Cattaui is Secretary General of the International Chamber of Commerce (ICC). As chief executive of the world business organization, she has raised ICC's public profile, making it a more vigorous advocate of world business to international organizations and governments. By bringing heads of leading multinational and top UN officials together to take up a call from the UN Secretary General for a "global compact" of shared values in the areas of human rights, labor standards and the environment, Ms. Cattaui has strengthened ties between ICC and the United Nations. Before joining ICC, she was Managing Director of the World Economic Forum in Geneva and she developed the Annual Meeting in Davos into a "global summit".
Peter Eigen is Chairman of Transparency International, Germany. He has worked in economic development for 25 years, mainly as a World Bank manager of programmes in Africa and Latin America. Under Ford Foundation sponsorship, he provided legal and technical assistance to the governments of Botswana and Namibia, and taught law at the universities of Frankfurt and Georgetown. From 1988 to 1991 he was the Director of the Regional Mission for Eastern Africa of the World Bank.
Achim Steiner is Secretary General of the World Commission on Dams (WCD). He has worked with public and non-governmental organizations in Asia, Africa, Europe, and the United States. Prior to joining the WCD, he served as Chief Technical Advisor of the Mekong River Commission and as Senior Policy Advisor for IUCN in Washington, DC. |
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| 12:30-1:45 |
Keynote Luncheon: Results First
Hilde Frafjord Johnson is Norwegian Minister of International Development and Human Rights. She has held several central posts as a KrF (Christian Democrat) politician. She is an advisory member of the Norwegian Helsinki Committee for Human Rights and a member of the Inter-Church Advisory Committee for International Issues. |
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| 2:00-3:15 |
Dealing with Volatility: The Role of Risk Management
Howard Davies is Chairman of the Financial Services Authority, the UK's single financial regulator. Mr. Davies previously served for two years as Deputy Governor of the Bank of England and spent three years as Director General of the Confederation of British Industry. From 1987 to 1992, he was Controller of the Audit Commission.
Peter Garber is Global Risk Strategist in Global Markets Research in Deutsche Bank (UK) and Professor of Economics at Brown University. He has been a professor at the University of Rochester and the University of Virginia. He received his Ph.D. in economics from the University of Chicago and his B.A. from Princeton University. He has been a visiting scholar at the Board of Governors of the Federal Reserve of the United States, the Bank of Japan and the IMF.
Philippe Jorion is Professor of Finance and Vice Dean at the Graduate School of Management, University of California. His research has been in the field of international finance and risk management and he has also consulted for various institutions, developing quantitative models for the management of portfolios invested in foreign stocks and bonds.
Danièle Nouy is Secretary General of the Basel Committee on Banking Supervision. The Committee cooperates with all major international organizations (IMF, the World Bank) and other international supervisory or regulatory bodies (IOSCO, IAIS, IASC). Ms. Nouy previously served as the Director of the Associate to the General Secretary at the Commission Bancaire. Ms. Nouy has also represented France on the Basel Committee on Banking Supervision and was Chairman of the Basel Committee sub-group in charge of derivatives.
Pedro Pou is President of Banco Central de la Repúblic Argentina. Prior to this assignment, he was a member of the Board of Directors and Vice President of the Argentine Central Bank. Mr. Pou has also served as Minister of Economy of the province of Buenos Aires and Adviser to the Secretary for Economic Programming in the Ministry of Economy. |
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| 2:00-3:15 |
Countries' Use of Capital Controls
Zeti Akhtar Aziz is Deputy Governor of Bank Negara Malaysia, where she has served for twenty years. She has been directly involved in financial policy reforms, restructuring and development during this period. She has also served in several international forums and expert groups relating to capital flows and financial sector development as well as regional developments and co-operation.
E. Gerald Corrigan is Managing Director at Goldman, Sachs & Co., where he serves as co-chair of both the Risk Committee and the Global Compliance and Controls Committee, and is also a member of the firm's Commitments Committee. Mr. Corrigan joined Goldman Sachs having served at the Federal Reserve System for 25 years, culminating in his position as President and Chief Executive Officer of the Federal Reserve Bank of New York.
R. Barry Johnston is Chief of the Monetary and Exchange Policy Analysis Division of the Monetary and Exchange Affairs Department at the International Monetary Fund. He was Chief of the Exchange Regime and Market Operations Division with responsibility for exchange rates and currency convertibility issues before assuming his present position. Prior to joining the Fund, Mr. Johnston worked for the Bank of England, the Bank for International Settlements, and the British Treasury.
Miguel A. Kiguel is Chief of the Argentine Cabinet of Advisors, Ministry of Economy, Public Works & Services. Prior to his current position, Mr. Kiguel was Deputy General Manager for Economics and Finance at the Central Bank of Argentina. He has also served as Principal and Senior Economist for the Development Economics and Chief Economist Office at the World Bank. He was Assistant Professor at the University of Maryland, and an Adjunct Professor at The Georgetown University.
Dani Rodrik is Rafiq Hariri Professor of International Political Economy at Harvard University's Kennedy School of Government. He was previously on the faculty of Columbia University. He is affiliated with the National Bureau of Economic Research, Centre for Economic Policy Research (London), and Overseas Development Council. He also serves on advisory committees for the Institute for International Economics and the Economic Research Forum for the Arab Countries, Iran and Turkey. |
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| 2:00-3:15 |
Monitoring Financial Systems
Manuel Conthe is Vice President for Financial Operations and Network Head for the Private Sector and Infrastructure at the World Bank. Prior to joining the Bank Group, he was the Chief Economic Counselor to the EU in Brussels. From 1995 to 1996 he served as Deputy Minister for Economy, Government of Spain, after serving for seven years as Director General of the Treasury and Financial Policy. He was also a member of the Board of Directors of the Bank of Spain and has served as a full member of the EU's Monetary Committee.
Arminio Fraga Neto is Governor of the Central Bank of Brazil. Previously, he was Managing Director of Soros Fund Management in New York, and from 1991 to 1992, he served as a board member and Director of International Affairs at the Central Bank of Brazil. Mr. Fraga teaches at the Graduate School of Economics at Getulio Vargas Foundation in Rio de Janeiro, and he has taught at the School of International Affairs at Columbia University in New York, the Wharton School in Philadelphia and the Catholic University in Rio de Janeiro.
Stefan Ingves is Director of the Monetary and Exchange Affairs Department at the International Monetary Fund. Before joining the Fund, he was the First Deputy Director of the Central Bank of Sweden. He has also served as Director General of the Swedish Bank Support Authority; Undersecretary at the Swedish Ministry of Finance; and member of the executive boards of the National Debt Office, the Stockholm Stock Exchange, and the National Center Securities Depository Company
Tommaso Padoa-Schioppa is a Member of the Executive Board of the European Central Bank. His previous appointments include Director General for Economic and Financial Affairs at the Commission of the European Communities, Deputy Director General of the Banca d'Italia, and Chairman of Commissione Nazionale per le Società e la Borsa (CONSOB).
Gregory Root is President of Thomson Financial BankWatch. He has over 23 years of bank-rating experience, including over four years as a Vice President in the bank-rating group at Standard and Poor's, and ten years at the BankWatch division of Keefe, Bruyette & Woods, Inc., an investment banking firm specializing in the banking industry. He is considered an expert on international banking and is a frequent speaker at conferences and seminars. He is a graduate of Hamilton College, and holds an M.B.A. from Syracuse University. |
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| 3:45-5:00 |
Managing Political Risk and Facilitating Foreign Direct Investment
Isabel Martin Castella is currently responsible for the International Project Finance Department of Banco Central Hispano Americano in Spain. Prior to this, she was Director of the National Institute of Industry responsible for privatization, from 1985-86, and was in-charge of Import Services of the Spanish Ministry of Commerce from 1980-83.
Richard Frank is Managing Partner and Chief Operating Officer of Darby Overseas Investments, Ltd., a private emerging markets investment firm in Washington, D.C. Previously, he served as Managing Director of the World Bank, responsible for operations in Latin America and South Asia, and served as Chairman of the Bank's Finance Committee. He also served as Chief Financial Officer for the International Finance Corporation.
John D. Hushon is President of El Paso Energy International Company that has interests in energy infrastructure in 16 countries on five continents and is one of the largest independent power producers in the world. Prior to joining El Paso Energy, Mr. Hushon was a partner in a multinational legal firm where he was extensively involved in acquisitions, joint ventures and international energy project finance. Mr. Hushon earned a B.A. from Brown University and a law degree from Harvard Law School.
Clive Tobin is President and Chief Executive Officer of XL Capital Ltd. He joined XL in 1995 as Vice President of Specialty Reinsurance, and he was later made Senior Vice President at XL Capital Products before being appointed an Executive Vice President of XLI and head of XL Structured Enterprise Risk. Mr. Tobin's prior experience includes Senior Vice President for Risk Management Services at US Trust; President of Rockefeller Insurance Company; and President of Acadia Risk Management Services, Inc. |
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| 3:45-5:00 |
The Private Sector, Crisis Prevention and Resolution: Bailing Out or Bailing In?
Morris Goldstein is the Dennis Weatherstone Senior Fellow at the Institute for International Economics. He has held several senior staff positions at the International Monetary Fund, including Deputy Director of its Research Department. He has written extensively on international economic policy and on international capital markets.
Pablo E. Guidotti is Deputy Minister of Finance and Secretary of the Treasury of Argentina. He has held several positions at the Central Bank, including Second Vice President, Member of the Board of Directors, and Advisor to the Bank's President. He has also been a member of the executive board for the Trust Fund for Bank Capitalization and was Professor of Money and Banking at the University Torcuato Di Tella.
John Lipsky is Chief Economist and Director of Research, The Chase Manhattan Bank. He is a member of the Chase Manhattan Corporation's Policy Council, and is responsible for the corporation's economic and financial market research. Previously he was Chief Economist at Solomon Brothers, and he also served for a decade at the IMF dealing with exchange rate surveillance issues and capital market developments.
Ernest Stern is Managing Director of J.P. Morgan, and is the senior client relationship manager for J.P. Morgan's activities in Emerging Markets. Previously, he worked for the World Bank for 23 years, including as Chief Operating Officer, Chief Financial Officer, and Managing Director. Prior to joining the Bank, Mr. Stern served for 13 years with USAID.
Alexander Swoboda is Senior Policy Advisor and Resident Scholar in the International Monetary Fund's Research Department. He is on leave from the University of Geneva and the Graduate Institute of International Studies, where he is Professor of International Economics. He is also the Founding Director of the International Center of Monetary and Banking Studies was recently elected to the Council of the Swiss National Bank. |
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| 3:45-5:00 |
Private Flows and Social Investments: Laying the Foundation for a New Financial Architecture *
Ricardo Bayón is developing a new NGO, the Institute for Finance and Sustainability (InFinS), a body concerned with the linkage between finance and sustainable development. Previously, Mr. Bayón was Finance Coordinator at The World Conservation Union (IUCN), where he also served as Director of Communications and Special Assistant to the Director General. He also helped organize the "Global Forum," the series of NGO events at the 1992 Earth Summit in Rio de Janeiro, Brazil.
Mark Malloch Brown is Administrator for the United Nations Development Program. He previously served as World Bank Vice President for External Affairs and United Nations Affairs. Mr. Malloch Brown has also worked in the private sector where he advised corporations, governments, and political candidates on strategic communications. Mr. Malloch Brown founded, and edited, The Economist Development Report. Earlier in his career he was Deputy Chief of the UNHCR emergency unit in Geneva.
Cezary Stypulkowski is President of Bank Handlowy w Warszawie, S.A., Poland. In 1981, he was Adviser to the Polish Minister of Economic Reform. He later went on to be Adviser to the Chairman of the Economic Consulting Council and Adviser to the Polish Deputy Prime Minister and Secretary of the Council of Ministers' Committee for Economic Reform. He also worked for two years at Citibank, N.A. in New York.
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| 5:30-6:30 |
Keynote: Needed: Two Billion Jobs - The Challenge ff Youth Employment
Kofi Annan is Secretary General of the United Nations. He assumed office after more than three decades with the organization, including senior positions in peacekeeping, management, administration, budget, finance, and personnel and refugee assistance. During the Persian Gulf crisis of 1990 to 1991, Mr. Annan helped to negotiate the release of Western hostages held by Iraq and to relieve the plight of 500,000 Asians stranded in Iraq and Kuwait. From 1995 to 1996, as special representative of Secretary General Boutros Boutros Ghali, he assisted in implementing a peace agreement in the former Yugoslavia.
Mats Karlsson is Vice President for External Affairs and for United Nations Affairs. He is responsible for corporate leadership and strategy, managing the Bank's global communications programs, and for outreach to key constituencies ¯ government officials, parliamentarians, NGOs, business, and academics. Mr. Karlsson also oversees the Bank's relations with the United Nations. Prior to joining the World Bank, Mr. Karlsson was the State Secretary for International Development Cooperation at the Swedish Ministry of Foreign Affairs.
James D. Wolfensohn is President of the World Bank Group. Before joining the World Bank he was an international investment banker and a key supporter of the performing arts. He has held the positions of President and Chief Executive Officer of James D. Wolfensohn Inc., Executive Deputy Chairman and Managing Director of Schroders Ltd., Chairman of the Board of Trustees of the John F. Kennedy Center for the Performing Arts and of New York's Carnegie Hall. |
