The Hon. Barry O’Farrell, MP
Premier of New South Wales
Minister for Western Sydney
Overview
After the Boom: Australia has enjoyed more than two decades of recession-free growth, weathering storms from the Asian financial crisis of 1997 to the 2008 global credit freeze, and more recently, the U.S. and European fiscal crisis. In 2013, Australia’s resilience will undergo another test from weaker growth in major developed economies, and the debate about its dependence on China will re-emerge as the resource investment boom nears a peak.
With a sound banking system, tame inflation and its proximity to a burgeoning middle class in Asia, Australia is well positioned to meet the latest challenges. But can the nation prosper long term with a currency that’s among the strongest in the world? What will the catalyst for growth be, if productivity doesn’t improve? Is China’s new growth model likely to deliver enough demand for Australian exporters to achieve their lofty targets? How willing will the RBA be to cut rates further, given its expectations for robust growth?
The Bloomberg Australia Economic Summit will examine these and other issues confronting the nation in 2013. We will convene government officials, business leaders and industry titans in banking, economics, energy and commodities and examine Australia’s position as standout performer in a world economy that’s struggling to find a leader.
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Venue
Bloomberg L.P. | Sydney, Australia
Registration
For information on individual and group rates, contact Elena Tchainikova at +1 212 617 4820 or etchainikova@bloomberg.net.
Sponsorship Opportunities
For sponsorship opportunities, contact Sue Ann Timco at +1 212 617 3644 or stimco@bloomberg.net.
| 8:00 am | PARTICIPANT CHECK-IN & BREAKFAST |
| 8:50 am | WELCOME & OPENING REMARKS Ed Johnson, Sydney Bureau Chief, Bloomberg News Host: William Pesek, Asia-Pacific Columnist, Bloomberg View |
| 9:00 am | A SPECIAL ADDRESS FROM TREASURER WAYNE SWAN The Hon. Wayne Swan, MP, Deputy Prime Minister and Treasurer, Commonwealth of Australia |
| 9:15 am | A CONVERSATION WITH TREASURER WAYNE SWAN With federal elections due September 14, we'll ask Treasurer and Deputy Prime Minister Wayne Swan how the Labor government plans to cope with an ageing population, increase education spending and introduce national disability insurance whilst balancing the budget. As the nation's mining investment boom peaks and manufacturers struggle under a high Australian dollar, how will the government extend 21 years of economic growth? The Hon. Wayne Swan, MP, Deputy Prime Minister and Treasurer, Commonwealth of Australia Interviewed by: Matthew Winkler, Editor-in-Chief, Bloomberg News |
| 9:35 am | AUSTRALIA'S DOLLAR & THE PERILS OF SAFE-HAVEN STATUS The Aussie has become the Swiss Franc of the South Pacific, buoyed by the country's stable AAA rating and yields double those of its peers. While the currency's strength is restraining inflation, it's blamed for hurting manufacturing, tourism and retail and has led to calls for the RBA to consider intervention. Will so-called safe-haven flows from central banks keep the world's fifth most traded currency above parity and how would that reshape the nation's economy? Would a hard landing in China or a U.S.-led recovery trigger the sort of volatility that saw the Aussie drop 40 percent in three months in 2008? How safe is the Australian dollar? Speakers: Anne Anderson, Managing Director, Head of Fixed Income, Asia Pacific, UBS Global Asset Management Ray Attrill, Co-Head of FX Strategy | Fixed Income, Currencies & Commodities, National Australia Bank (NAB) Robert Mead, Head, Portfolio Management, PIMCO Global Advisors Warwick J. McKibbin, Chair in Public Policy, ANU Centre for Applied Macroeconomic Analysis (CAMA) | Crawford School of Public Policy, Australian National University (ANU); Senior Fellow, The Brookings Institution Interviewed by: Candice Zachariahs, FX and Government Bonds Reporter, Bloomberg News |
| 10:15 am | A CONVERSATION WITH THE RBA’S CHRISTOPHER KENT We'll ask Reserve Bank of Australia Assistant Governor Christopher Kent to assess the state of the domestic economy and get his perspective on its outlook as resource investment peaks. We'll discuss his views on growth prospects around the Asia-Pacific region, the U.S. and Europe, and how well Australia may fare as the global economy struggles to emerge from a slowdown. We'll also examine near-term concerns, including a high local dollar and the state of the housing industry, and delve into the longer-term challenges of structural change and productivity. Christopher Kent, Assistant Governor (Economic), Reserve Bank of Australia (RBA) Interviewed by: Michael Heath, Asia Economy Reporter, Bloomberg News |
| 10:40 am | A CONVERSATION WITH NSW PREMIER BARRY O’FARRELL We'll ask New South Wales Premier Barry O'Farrell for his assessment of Australia's largest state economy and his efforts to get the budget back in black as a drop in coal prices sees mining royalties fall. Is the timing right to sell the state's power stations? How does his government plan to ease infrastructure bottlenecks that are hampering growth? Can Sydney rise to the challenge of being an Asian financial hub? The Hon. Barry O’Farrell, MP, Premier of New South Wales; Minister for Western Sydney Interviewed by: Ed Johnson, Sydney Bureau Chief, Bloomberg News |
| 11:05 am | A CONVERSATION WITH BHP BILLITON’S GRAHAM KERR We'll ask Graham Kerr, chief financial officer of the world's biggest miner, how BHP is coping with much lower demand growth as shareholders demand value for their money. What are BHP and its competitors doing to cope with the high Australian dollar crimping returns as commodity prices retreat from their highs? What innovative ways is the miner exploring to get ahead of the competition? How much of the slide in the relative productivity at Australian mining operations is down to the strength of the local currency? Graham Kerr, Group Executive and CFO, BHP Billiton Interviewed by: Laurie Hays, Executive Editor, Company News, Bloomberg News |
| 11:30 am | AUSTRALIA'S PROPERTY MARKET: SAFE AS HOUSES OR BUBBLE TROUBLE? Home prices slipped in 2012 as long-term property bears thought they'd finally been proved right. Then came the stabilization as a record run of interest rate cuts finally spurred buying. So has Australia's favorite asset class just proven once again it's as “safe as houses”, or is this just a pause in an inevitable down trend that will resume as the economy slows? As global investors seek out Australian government and bank debt in their quest for yield, the world is watching whether the Lucky Country can continue to escape the housing malaise that's weighed on developed economies around the world. Speakers: Bill Evans, Chief Economist, Westpac Banking Corp. Steve Keen, Author, Debunking Economics John Kim, Head of Australia Real Estate, CLSA Asia-Pacific Markets Alan Oster, Chief Economist, National Australia Bank Interviewed by: Sarah Gill, Reporter, Bloomberg First Word |
12:00 pm | LUNCH |
| 1:00 pm | WELCOME BACK REMARKS Ed Johnson, Sydney Bureau Chief, Bloomberg News Host: Dan Petrie, Economic Data Editor, Australia and New Zealand, Bloomberg News |
| 1:05 pm | A CONVERSATION WITH SHADOW TREASURER JOE HOCKEY We'll ask Shadow Treasurer Joe Hockey what a return to a Liberal-National coalition government would mean for Australia and its business community. How would a Tony Abbott-led government meet pledges to return the budget to surplus in an era of slower revenue growth? How would it respond to demands for improved productivity and changes to workplace relations legislation? How would it maintain trend growth in an environment of government spending cuts and a waning mining investment boom? Hon. Joe Hockey, MP, Federal Member for North Sydney and the Shadow Treasurer, Commonwealth of Australia Interviewed by: Chris Anstey, Managing Editor, Asia Economy & Government, Bloomberg News |
| 1:30 pm | END OF THE BOOM? THE OUTLOOK FOR AUSTRALIAN COMMODITIES What are the prospects for Australia's energy and mining industry as resource investment peaks and global deleveraging affects the prices of the nation's key commodities? We'll discuss the potential for M&A in the sector amid lagging stock prices and the outlook for commodity exports. We'll also look at the prospects for further exploration in a high cost environment and the efforts companies are making to reduce costs and raise productivity. Speakers: Ken Hoffman, Global Head, Metals and Mining Research, Bloomberg Industries Jock O’Callaghan, Partner - Energy, Utilities & Mining Leader, Australia, PwC Tom Price, Global Commodity Analyst, UBS Interviewed by: Laurie Hays, Executive Editor, Company News, Bloomberg News |
| 2:00 pm | COAL, GAS AND WIND – AUSTRALIA'S CHANGING ENERGY MIX Australia, long dependent on coal, now has a price on carbon emissions, a A$10 billion clean-energy bank and a 20 percent renewable energy target. Gas prices are rising, electricity demand is falling and the opposition leader is vowing to repeal the climate change legislation. We'll examine the implications for Australia's energy mix and the economy. What opportunities does the carbon price create and would it survive a change of government? What's the future for coal-fired generation as the carbon price drives up costs? How high will gas prices go and how will stricter regulation impact exploration? Will wind and solar be competitive without subsidies? Speakers: Jillian Broadbent AO, Chair, Clean Energy Finance Corporation (CEFC); Member of the Board, Reserve Bank of Australia (RBA) Michael Fraser, Managing Director and CEO, AGL Energy Limited Mark Schneider, Head, Power Investment, Investec Bank Martijn Wilder AM, Partner, Baker & McKenzie; Chair, Low Carbon Australia; Board Member CEFC Interviewed by: Seb Henbest, Manager and Head of Research, Australia, Bloomberg New Energy Finance |
| 2:30 pm | WOMEN IN LEADERSHIP: AUSTRALIA'S GENDER IMBALANCE Less than 15 percent of board positions in ASX top 200 companies are held by women and Australia ranked 25th in the World Economic Forum's Global Gender Gap report – behind Nicaragua, Cuba and Burundi. Prime Minister Julia Gillard has criticized the nation's “blokey” culture and accused the opposition leader of misogyny. But is her government doing enough to close the gender gap in Australia's board rooms? Women executives from Australia's financial and corporate sectors will discuss the intricacies of working in male dominated fields and strategies for increasing diversity. We'll explore how to increase the number of women in senior roles and the economic costs of failing to tap the nation's talent pool. Speakers: Pru Bennett, Head, Corporate Governance and Responsible Investment, Asia Pacific Region, BlackRock Launa Inman, Managing Director and CEO, Billabong International Limited Fabienne Michaux, Managing Director, Chief Credit Officer – Asia Pacific, Standard & Poor’s Ratings Services Interviewed by: Matthew Winkler, Editor-in-Chief, Bloomberg News |
| 3:00 pm | AUSTRALIA: BACK TO THE INDUSTRIAL MUSEUM? Australian manufacturing faces the biggest crisis since the Button plan – which scrapped tariffs and consolidated the industry almost 30 years ago – as the currency's longest streak above parity since the 1983 float leaves companies uncompetitive. Are government subsidies delaying the inevitable for an industry that must rationalize or die? In what areas can Australia compete and what must the nation do now to gain an edge in Asia? We’ll examine what Australian manufacturing will look like in a decade. Can government make the hard call on companies and sectors that won't survive? Speakers: Terry Davis, Group Managing Director, Coca-Cola Amatil (CCA) Paul Howes, National Secretary, The Australian Workers’ Union Heather Ridout, Member of the Board, Reserve Bank of Australia (RBA); Trustee Director, AustralianSuper; Former Chief Executive, Australian Industry Group (Ai Group) Interviewed by: William Pesek, Asia-Pacific Columnist, Bloomberg View |
| 3:30 pm | CLOSING REMARKS, SUMMIT ADJOURNS, COCKTAIL RECEPTION FOLLOWS |
The Hon. Wayne Swan, MP
Deputy Prime Minister and Treasurer
Commonwealth of Australia
SPEAKER BIOS
To read the bio of a confirmed program speaker, please click on the name of the speaker.
Anne Anderson
Managing Director, Head of Fixed Income, Asia Pacific
UBS Global Asset Management
Ray Attrill
Co-Head of FX Strategy | Fixed Income, Currencies & Commodities
National Australia Bank (NAB)
Pru Bennett
Head, Corporate Governance and Responsible Investment, Asia Pacific Region
BlackRock
Jillian Broadbent AO
Chair, Clean Energy Finance Corporation (CEFC)
Member of the Board, Reserve Bank of Australia (RBA)
Terry Davis
Group Managing Director
Coca-Cola Amatil (CCA)
Bill Evans
Chief Economist
Westpac Banking Corp.
Michael Fraser
Managing Director and CEO
AGL Energy Limited
Hon. Joe Hockey, MP
Federal Member for North Sydney and the Shadow Treasurer
Commonwealth of Australia
Ken Hoffman
Global Head, Metals and Mining Research
Bloomberg Industries
Paul Howes
National Secretary
The Australian Workers’ Union
Launa Inman
Managing Director and CEO
Billabong International Limited
Steve Keen
Author, Debunking Economics
Christopher Kent
Assistant Governor (Economic)
Reserve Bank of Australia (RBA)
Graham Kerr
Group Executive and CFO
BHP Billiton
John Kim
Head of Australia Real Estate
CLSA Asia-Pacific Markets
Warwick J. McKibbin
Chair in Public Policy, ANU Centre for Applied Macroeconomic Analysis (CAMA) | Crawford School of Public Policy, Australian National University (ANU)
Senior Fellow, The Brookings Institution
Robert Mead
Head of Portfolio Management, Australia
Head of Asia-Pacific Credit Portfolio Management
PIMCO
Fabienne Michaux
Managing Director, Chief Credit Officer – Asia Pacific
Standard & Poor’s Ratings Services
Jock O’Callaghan
Partner – Energy, Utilities & Mining Leader, Australia
PwC
Alan Oster
Group Chief Economist
National Australia Bank Ltd.
Tom Price
Global Commodity Analyst
UBS
Heather Ridout
Member of the Board, Reserve Bank of Australia (RBA)
Trustee Director, AustralianSuper
Former Chief Executive, Australian Industry Group (Ai Group)
Mark Schneider
Head of the Power Investment
Investec Bank
Martijn Wilder
Partner
Baker & McKenzie
Matthew Winkler
Editor-in-Chief
Bloomberg News
Chris Anstey
Managing Editor, Asia Economy & Government
Bloomberg News
Sarah Gill
Reporter
Bloomberg First Word
Laurie Hays
Executive Editor, Company News
Bloomberg News
Michael Heath
Asia Economy Editor
Bloomberg News
Seb Henbest
Manager and Head of Research, Australia
Bloomberg New Energy Finance
Ed Johnson
Sydney Bureau Chief
Bloomberg News
William Pesek
Asia-Pacific Columnist
Bloomberg View
Dan Petrie
Economic Data Editor, Australia and New Zealand
Bloomberg News
Candice Zachariahs
FX and Government Bonds Reporter
Bloomberg News
Association of Financial Advisers (AFA)
The Association of Financial Advisers is a professional organisation that has been serving the financial advising industry for over 66 years. Its aim is to provide members with a robust united voice, continually improve practices and focus firmly on the exciting, dynamic future of the financial advising industry. With six decades of success behind it, the association’s ongoing relevance is due to its philosophy of being an association of advisers run by advisers. This means advisers set the agenda, decide which issues to tackle and shape the organisation’s strategic plan.
For more information, visit http://www.afa.asn.au
Australian Chamber of Commerce and Industry (ACCI)
The Australian Chamber of Commerce and Industry (ACCI) is Australia’s most established, representative and largest peak council of Australian business organisations. As a member based organisation, it combines the brand strength of the international, national and local chamber of commerce movement with the capacity of Australia’s specialist business associations.
The ACCI network represents in excess of 300,000 private enterprises engaging over three million employees or contractors. Eight-five (85) per cent are small and medium businesses.
ACCI’s core service is private sector advocacy, representation and policy development on national and international matters that impact business. We embrace the multiple traditions of business advocacy, from trade and commerce, to economics and tax, to employment, labour and social policy.
ACCI’s institutional role is international. It is officially recognised as Australia’s business representative in councils of the world, including the International Chamber of Commerce, the International Organisation of Employers, the OECD and the UN-related International Labour Organisation.
http://acci.asn.au/
Australian Institute of Superannuation Trustees (AIST)
The Australian Institute of Superannuation Trustees (AIST) is the peak representative body of Australia’s $500 billion not-for-profit superannuation sector. AIST’s members are the trustee directors and staff of industry, corporate and public-sector superannuation funds, who manage the superannuation accounts of almost two-thirds of the Australian workforce.
AIST plays a key role in policy development and advocates on behalf of its members to the Government and relevant stakeholders, and also offers a range of services including professional development, research, compliance, events (both national and international)and other consulting services as well as member support.
ASFA
ASFA is the peak policy, research and advocacy body for Australia’s superannuation industry. It is a not-for-profit, sector-neutral, and non-party political national organisation whose aim is to advance effective retirement outcomes for members of funds through research, advocacy and the development of policy.
ASFA’s focus is on whole of system issues and its core strategies are aimed at encouraging industry best practice, advocating for a system that plays a productive role in the Australian economy, and ensuring the industry delivers on its primary purpose of providing decent retirement incomes. Our membership – which includes superannuation funds from the corporate, industry, retail and public sectors, as well as superannuation service providers, self-managed and small APRA funds – represents over 90 per cent of Australians with superannuation.
Eurekahedge
Eurekahedge is the world’s largest independent data provider and research house focusing on alternative investments. We are headquartered in Singapore and have representative offices in New York and London. We maintain coverage on over 26,000 alternative funds globally. Our global alternative research covers hedge funds, funds of funds, private equity funds, Islamic funds, real estate funds, long-only absolute return funds and enhanced equity funds (130/30) and socially responsible investment funds (SRI).
For more information, please contact us at marketing@eurekahedge.com or +65 6212 0925 (Head Office – Singapore) or visit www.eurekahedge.com. Also, you are able to reach us through our US Office lines at either +1 646-710-4898 or +1 646-710-4899
The Finance Brokers Association of Australia (FBAA)
FBAA was formed in the belief that the establishment of measurable standards of proper professional practice in sourcing domestic and commercial funding was in the best interests of its customers/consumers and vital to the integrity and future well-being of the finance/mortgage broking industry.
Published within an industry recognised Code of Practice, these standards have been adopted by an increasing number of industry professionals who offer domestic finance, commercial finance, lease and motor vehicle finance, business and debtor finance, as finance/mortgage brokers.
The FBAA has established complaints and disciplinary procedures designed to eliminate unacceptable working practices amongst its members, by providing an Internal disputes Resolution Process (designed to meet Australian Standards). The Association also exists to safeguard both its Members and their clients/consumers against restrictive practices within the industry.
In the interests of members and their clients, the FBAA monitors legislation and makes representations to Ministers and Members of Parliament both state and federal as appropriate.
Sydney Business Chamber
The Sydney Business Chamber is a division of NSW’s largest business peak body the NSW Business Chamber and represents Sydney’s leading corporations.
Since 1825, the Sydney Business Chamber has been providing the opportunity for businesses to work together to maximise and enhance their business potential, and to contribute to the economic health of the city and the broader region.
The Sydney Business Chamber’s main priority is to identify, develop and promote the major issues that contribute to economic activity and growth in Sydney and to reduce barriers that threaten our global competitiveness. www.nswbusinesschamber.com.au
INFORMATION FOR PARTICIPANTS:
VENUE LOCATION:
1 Bligh Street | Level 27
Sydney | NSW 2000 | Australia
PARKING:
CHIFLEY PLAZA
37 PITT STREET
SPEAKING OPPORTUNITIES:
Please email Ms. Christine Ong to see about opportunities for an executive to join the conference program. Please include a bio of the executive that you would like to nominate as a possible speaker.
PRESS QUESTIONS:
Please email Ms. Angela Martin with any press related questions. If you are a journalist who would like to attend and cover the summit, please send your full contact details (name / title / company / mobile phone / email) to Angela Martin.
BLOOMBERG NEWS: AUSTRALIA
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