Managing and Founding Principal
AQR Capital Management
The third annual Bloomberg Markets 50 Summit brings together the most influential people in global markets and finance. Join us as leading bankers, policymakers, economists, money managers and corporate executives appear before an elite audience of 200 investment professionals.
Speakers for this year’s event range from U.S. Treasury Secretary Jack Lew to Securities and Exchange Commission Chairman Mary Jo White to Blackstone Group founder Stephen Schwarzman and Highbridge Capital CEO Glenn Dubin.
This event is built around Bloomberg Markets magazine’s annual list of the Most Influential 50 in global finance, to be published in early September. This is an elite list, selected by the magazine’s editors and informed by the expertise of Bloomberg reporters and readers worldwide. The Most Influential 50 are people who move stock, bond, commodity and currency markets, who shape economies and build fortunes.
Speakers at Bloomberg Markets 50 summit are financial gurus and power brokers, and they are directly involved in the pressing economic and political issues of the day. Their insights on our stage will provoke thought, generate ideas and inform investment decisions.
Join the conversation. Follow @BBGLINK #BM50 on Twitter.
|7:45 am||PARTICIPANT CHECK-IN
|8:00 am||ATTENDEE BREAKFAST
Open to all Attendees
*Hosted by Thailand Convention & Exhibition Bureau
Southeast Asia is poised to become a single market by 2015, bringing together 10 nations and 600 million people into a unified economy. What are the lessons learned from Europe’s economic integration? What are the challenges and where are the opportunities for investors who want to get ahead of the coming ASEAN boom?
Dr. Surin Pitsuwan, Former Secretary General, Association of Southeast Asian Nations
|Concurrent||PRIVATE CFO BREAKFAST (8:30 - 10:00)
*Hosted by Visa, by Invitation Only
Rich Beckert, Executive Vice President and Chief Financial Officer, CA Technologies
*To request an invitation, please contact Kristen Hensley email@example.com.
|8:55 am||BLOOMBERG MARKETS 50 SUMMIT OFFICIAL PROGRAM BEGINS
Rob Dieterich, Senior Editor, Bloomberg Markets
Welcome & Opening Remarks:
Peter Grauer, Chairman, Bloomberg LP
|9:05 am||A CONVERSATION WITH MARY JO WHITE
Five years after the financial crisis, we’ll talk to the chair of the Securities and Exchange Commission about what the agency is doing to implement Dodd-Frank regulation and coordinate rules among U.S. and international regulators on the cross-border derivatives market. What’s the status of the Volcker rule and its ban on proprietary trading by banks, as well as the agency’s revised rule for money market funds?
Mary Jo White, Chair, Securities & Exchange Commission
Peter Cook, Chief Washington Correspondent, Bloomberg Television
|9:30 am||NEW ERA AT THE FEDERAL RESERVE
When Ben Bernanke steps down as chairman of the Federal Reserve on Jan. 31, 2014, he leaves behind a balance sheet that has ballooned to about $4 trillion, nearly double what he inherited. We’ll examine how these decisions will shape the U.S. economy in the coming decade, and whether they will leave as deep a mark as the Fed’s response to the financial crisis five years ago.
How will history judge Bernanke and what can the markets expect from his successor, faced with uncertainty over the unwinding of the Fed’s easy-money policies?
Dr. Randall Kroszner, Norman R. Bobins Professor of Economics, The University of Chicago Booth School of Business; Former Governor, U.S. Federal Reserve System
Laurence Meyer, Co-Founder and Senior Managing Director, Macroeconomic Advisers, LLC; Former Governor, Federal Reserve Board
Michael McKee, Economics Editor, Bloomberg Television & Bloomberg Radio; Co-Host, “Bloomberg On The Economy,” Bloomberg Radio
|10:00 am||FIVE YEARS LATER
We convene at the five-year anniversary of Lehman Brothers being swept away and the credit markets freezing. This panel will conduct a tour of the regulatory landscape, U.S. and worldwide, that has grown up since that storm hit.
Are we safer now? Are banks more secure? The economic rebound in the U.S. suggests to some that the concerns the last crisis spawned are finally receding. Is it because of new regulations or in spite of them? Or are we inflating the next bubble, be it in government debt or equities or real estate?
Colm Kelleher, President Institutional Securities; Head, EMEA and Asia-Pacific, Morgan Stanley
Sallie Krawcheck, Co-Owner, 85 Broads
Lord Adair Turner, Senior Fellow, Institute for New Economic Thinking; Former Chairman, Financial Services Authority, United Kingdom
William D. Cohan Columnist, Bloomberg View; Author, Money and Power: How Goldman Sachs Came to Rule the World
|10:30 am||A CONVERSATION WITH STEVE SCHWARZMAN AND JIMMY LEE
Blackstone's Stephen Schwarzman and JPMorgan's Jimmy Lee stand as architects of the modern private equity industry, having fostered the development of both the equity and debt markets that fuel leveraged buyouts. The two long-time collaborators will discuss the factors driving the current deal market and the ongoing transformation of the global financial services industry.
James B. Lee, Jr., Vice Chairman, JPMorgan Chase
Stephen A. Schwarzman, Chairman, CEO & Co-Founder, Blackstone Group
Jason Kelly, Managing Editor, Bloomberg LINK; Author, The New Tycoons: Inside the Trillion Dollar Private Equity Industry that Owns Everything
|11:00 am||HOW GLOBALIZATION AND ACTIVISM ARE CHANGING M&A
Investment bankers have been waiting for a year that truly heralds their industry's revival. In 2011, the first half was strong, and the second half fizzled. In 2012, overall fee revenue rose, according to Bloomberg Markets. But this increase relied on the strength of corporate debt underwriting, while equities issuance and deal activity actually declined.
This panel will discuss where deals are being made and who the new players are in an increasingly globalized M&A marketplace. We’ll examine the different sources of capital and whether the US is being squeezed out of burgeoning deals in emerging markets. We’ll also discuss the role activism plays in today’s M&A.
Scott Barshay, Partner, Cravath Swaine & Moore
Kenneth Jacobs, Chairman & CEO, Lazard
Cristina Alesci, Reporter, Bloomberg News & Bloomberg Television
|11:25 am||WHEN ALTERNATIVES BECOME MAINSTREAM
Five years after the financial crisis, we’ll examine how the hedge fund business is changing and what it offers the investing public today as hedge fund managers increasingly gather assets from an ever-broader cross-section of the investing public.
When Bloomberg Markets published its most recent hedge fund ranking, we reported that the average return was 1.3 percent after fees, versus 14 percent during the same period for the Standard and Poor's 500. What is the value proposition for hedge fund managers in a period when long-only equities investing is outperforming?
Glenn Dubin, Chairman & Co-Founder, Highbridge Capital
Marc Lasry, Chairman, CEO and Co-Founder, Avenue Capital Group
Bruce Richards, CEO, Co-Managing Partner, Marathon Asset Management
Stephanie Ruhle, Co-Host, “Market Makers”, Bloomberg Television
|11:55 am||A CONVERSATION WITH NEW YORK’S ATTORNEY GENERAL
We’ll have a conversation with New York’s highest-ranking law enforcement officer on his effort to ensure a level playing field in financial markets. New York’s Attorney General will discuss the perception that Wall Street is a rigged casino—from secret deals for early access to market-moving data to risks associated with high-frequency trading—and his campaign to restore confidence and stability in the markets.
Eric Schneiderman, Attorney General, State of New York
Matt Winkler, Editor-in-Chief, Bloomberg News
*Hosted by Societe Generale Corporate and Investment Banking
|1:20 pm||WELCOME BACK REMARKS
Dr. Surin Pitsuwan, Former Secretary General, Association of Southeast Asian Nations
|1:30 pm||A CONVERSATION WITH PREET BHARARA
U.S. Attorney Preet Bharara’s insider trading investigation reaches ever higher and deeper in the hedge fund world. Beyond insider trading, we’ll talk to the sheriff of Wall Street about other white collar prosecutions involving cyber security and mortgage lending fraud by some of the most powerful financial institutions. In the five years since the financial crisis, what has changed and what hasn’t on Wall Street?
Preet Bharara, U.S. Attorney for the Southern District of New York, U.S. Department of Justice
Stephanie Ruhle, Co-Host, “Market Makers”, Bloomberg Television
|1:55 pm||THE GRAND UNBARGAIN
Last year the national obsession was on whether the US would fall headlong over a fiscal cliff. While that didn’t happen, sequestration did. In this session, we'll examine how improvements in the short-term deficit outlook, along with longer-term debt and demographic trends, continue to be worrisome.
Bloomberg Markets, reporter Richard Rubin declared it to be the Grand Unbargain, a significant reduction of the budget deficit that nobody seemed to embrace, accept or take credit for.
David Malpass, President & Founder, Encima Global; Former Deputy Assistant Treasury Secretary, U.S. Department of Treasury
Peter Orszag, Columnist, Bloomberg View; Vice Chairman, Global Banking, Citigroup; Former Director, Office of Management & Budget; Former Director, Congressional Budget Office
Michael McKee, Economics Editor, Bloomberg Television & Bloomberg Radio; Co-Host, “Bloomberg on the Economy,” Bloomberg Radio
|2:25 pm||REAL ESTATE REALITY CHECK
The U.S. housing market is showing signs of an exuberance that one might have expected to disappear for a generation or more, given the scale of the bust we suffered just half a decade ago. Commercial real estate is, too, is surging.
This panel will ask whether the soaring prices seen in some parts of the U.S. are sustainable. How far can prices rise before real worry sets in? How vulnerable is the real estate market at the first sign of a shift at the Fed and the end of cheap money?
Richard LeFrak, Chairman, President & CEO, LeFrak Organization
Steven Witkoff, Chairman & CEO, Witkoff Group
Douglas Yearley, CEO & Director, Toll Brothers
Larry Edelman, Managing Editor, Investing, Real Estate and Personal Finance, Bloomberg News
|3:05 pm||CHINA SHIFTING GEARS
Four years after China’s growth helped lead the global economy out of a recession, the country’s stock market has lost more money for investors than any other in the world. As money has poured into real estate, so too have concerns of an impending bubble. With China and other emerging markets slowing, is the engine of global economic growth once again shifting to developed economies like the U.S., and a recovering European market?
James Chanos, President & Founder, Kynikos Associates
Jim O’Neill, Former Chairman, Goldman Sachs Asset Management
Tom Keene, Editor-at-Large, Bloomberg News; Co-Host, “Bloomberg Surveillance”, Bloomberg TV & Radio
|3:30 pm||MARKET RISKS: CYBER SECURITY, CLIMATE CHANGE AND GEOPOLITICS
We’ll examine the triple threat of cyber security, climate change and geopolitical instability in the Middle East to markets around the world. We’ll look at the exposure of specific sectors and industries to each or all of these threats. What instruments, insurance and strategies can financial firms develop and employ to hedge against these risks or to position themselves for opportunities?
Eileen Claussen, President, Center for Climate & Energy Solution; Former Special Assistant to President and Senior Director for Global Environmental Affairs, National Security Council
Jane Holl Lute, President & CEO, Council on CyberSecurity; Former Deputy Secretary, Department of Homeland Security; Former Assistant Secretary-General, United Nations
Ken Robinson, Chief Executive Officer, PLC Global Solutions
Tim O’Brien, Publisher, Bloomberg View
|4:05 pm||THE CHALLENGES OF MEETING PENSION OBLIGATIONS
New York City will pay $8 billion this year toward retirement benefits, a cost that has risen more than fivefold since 2002. Beyond New York, the total market value of the assets of 109 U.S. state pension plans last year was 69 percent of projected liabilities. With interest rates near record lows and equity markets approaching new highs, how can institutional investors earn enough to meet future pension obligations?
This session will bring together a global investment manager and a pension fund CIO to discuss strategies that will boost net returns and most importantly, help sponsors secure the retirement of U.S. public workers. Beyond strategies, what practices must change to make returns commensurate with fees?
Clifford S. Asness, Ph.D., Managing and Founding Principal, AQR Capital Management
Lawrence M. Schloss, Chief Investment Officer, City of New York
Erik Schatzker, Host, “Market Makers”, Bloomberg Television
|4:30 pm||A CONVERSATION WITH THE U.S. TREASURY SECRETARY
Jacob J. Lew, Secretary of the Treasury, United States Department of the Treasury, will participate in a one-on-one session on the upcoming budgetary debate, the debt ceiling and the sequester as the end of the fiscal year approaches.
Jacob J. Lew, Secretary, U.S. Department of Treasury
Albert R. Hunt, Columnist, Bloomberg View; Executive Editor, Bloomberg News; Host, Political Capital
|5:00 pm||CLOSING REMARKS & SUMMIT ADJOURNS
PAST CONFERENCE AGENDA:
AGENDA: Bloomberg Markets 50 Summit - Sep 2012 New York
Managing and Founding Principal
Cravath, Swaine & Moore LLP
Executive Vice President and Chief Financial Officer
U.S. Attorney for the Southern District of New York
U.S. Department of Justice
President & Founder
President, Center for Climate and Energy Solutions
President, Strategies for the Global Environment
Chairman & Co-Founder
President & CEO
Council on CyberSecurity
Chairman & CEO
President, Institutional Securities
Head, EMEA and Asia-Pacific
Norman R. Bobins Professor of Economics
The University of Chicago Booth School of Business
Chairman, CEO and Co-Founder
Avenue Capital Group
JPMorgan Chase & Co.
Chairman, President and CEO
Secretary of the Treasury
United States Department of the Treasury
Co-Founder and Senior Managing Director
Macroeconomic Advisers, LLC
Goldman Sachs Asset Management
Vice Chairman, Global Banking
Former Secretary General
Association of Southeast Asian
CEO and Co-Managing Partner
Marathon Asset Management, LP
Chief Executive Officer
PLC Global Solutions, Inc.
Deputy Comptroller for Pensions, Chief Investment Officer
City of New York
New York State
Chairman, CEO & Co-Founder
Senior Fellow, Institute for New Economic Thinking;
Former Chairman, Financial Services Authority, United Kingdom
U.S. Securities & Exchange Commission
Chairman and CEO
The Witkoff Group
CEO and Director
Private Equity Reporter
Bloomberg News & Bloomberg Television
Columnist, Bloomberg View
Author, Money and Power: How Goldman Sachs Came to Rule the World
Chief Washington Correspondent
Managing Editor, Investing, Real Estate and Personal Finance
Executive Editor, Bloomberg News
Host, “Political Capital with Al Hunt”, Bloomberg Television
Columnist, Bloomberg View
Editor-at-Large, Bloomberg News
Co-Host, “Bloomberg Surveillance”, Bloomberg TV & Radio
Managing Editor, Bloomberg LINK
Author, The New Tycoons: Inside the Trillion Dollar Private Equity Industry that Owns Everything
Economics Editor, Bloomberg Television & Bloomberg Radio
Co-Host, “Bloomberg On The Economy”, Bloomberg Radio
Co-Host, “Market Makers”
Anchor and Editor-at-Large
Visa Commercial solutions provide precisely the right tools for CFOs of large and mid-size companies who are ultimately accountable for their fiscal vision and success. Visa’s innovative products and services include a range of commercial payment programs, information management and consulting services that help corporations and governments manage expenses, streamline operations and improve their bottom line. Senior financial executives can gain greater transparency with enhanced data, the ability to institute control over payments and improve cost management. They can also develop an intelligent payment process and turn spend data into actionable insights with Visa Commercial solutions. Visa streamlines and automates the payment process enabling direct and secure payments to suppliers and allows companies to collect spend data more efficiently. As a global leader in commercial payments, Visa offers flexible payment solutions backed by the reliability, security and scale of Visa’s global acceptance infrastructure.
Thailand Convention & Exhibition Bureau (TCEB)
The fast growing MICE sector demands the very best support: Thailand’s talent pool of highly qualified professionals is not only service-minded, but has your success on their minds all year round. TCEB’s main objectives are to promote meetings, incentive travel, conventions and exhibitions to make Thailand a preferred MICE destination in Asia. TCEB works under key strategic models to be your business partner, providing creative ideas for your business events and advising solutions from our capable resources. Furthermore, we have formed numerous collaborations to support your business success, just as it will help making the right connections and establishing collaborations between partners that will spur lasting advancement and success for your business events. For more information, visit www.tceb.or.th
Societe Generale Corporate & Investment Banking
Societe Generale is one of the largest European financial services groups. Based on a diversified universal banking model, the Group combines financial solidity with a strategy of sustainable growth, and aims to be the reference for relationship banking, recognized on its markets, close to clients, and chosen for the quality and commitment of its teams. Its 157,000 employees based in 85 countries accompany more than 33 million clients throughout the world.
At the core of Société Générale’s universal banking business model, the Corporate & Investment Bank is a well diversified and leading player with nearly 12,000 professionals present in 33 countries across Europe, the Americas and Asia-Pacific. Standing by its clients across sectors, the Corporate & Investment Bank tailors solutions for them by capitalizing on its worldwide expertise in investment banking, global finance, and global markets.
* For Corporates, Financial Institutions and Public Sector clients: providing a global advisory approach (M&A, debt, equity transaction, capital structure, and asset & liability management), as well as quality capital raising solutions across the debt and equity spectrum, optimized financing and expert risk management responses notably in the realm of foreign exchange and rates derivatives.
* For Investors: offering reliable and sound investment opportunities and risk management solutions through its integrated global markets platform delivering seamless access to markets (equity, rates, credit, currencies, commodities and derivatives), as well as advice and solid financial engineering, quality of execution and forward looking research across asset classes.
Bloomberg LINK produces invitation-only, in-person gatherings that combine world-class editorial programming with peer-to-peer networking amongst the who’s who in influential communities. With the content driven by Bloomberg’s 2,000 journalists in over 150 bureaus around the world, Bloomberg LINK gatherings bring together decision-makers in finance, economics, culture, politics and technology to break news and discuss today’s most relevant issues.
Sponsors of Bloomberg LINK events play an integral role in the experience of each conference. We work closely with sponsors to enhance the experience for participants, while simultaneously reaching mutually agreed upon objectives. Sponsorship programs are integrated into the conference experience, which minimizes activation costs beyond the fee. Our goal: customer satisfaction and measurable impact. All we ask is that our sponsors bring a creative eye to the table and we’ll do the rest.
For sponsorship opportunities, please contact Sue Ann Timco at +1 212 617 3644 or firstname.lastname@example.org.
The New-York Historical Society
170 Central Park West (at 77th Street)
New York, NY 10024
+1 212 873 3400
MAP / DIRECTIONS / PARKING
Please email Christine Ong to inquire about speaking opportunities on this year's program. Please include a bio of the executive that you would like to suggest as a possible speaker.
PRESS QUESTIONS & INQUIRIES:
Please email 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.
2012 BLOOMBERG MARKETS 50 SUMMIT: SESSION VIDEOSSep 13, 2012 | New York
VIDEO | KASHKARI, ROSS, STERN ON U.S. ECONOMY, FISCAL CLIFF
VIDEO | REINHART, JOHNSON, CALLOW ON EURO'S FUTURE, ECB
VIDEO | HONEYWELL'S COTE ON FISCAL CLIFF, GLOBAL ECONOMY
VIDEO | MCCAUGHEY, OUDEA, PARR ON OUTLOOK FOR GLOBAL BANKS
VIDEO | BOVE, BREEDEN, DORGAN, KRAWCHECK ON BANK INDUSTRY
VIDEO | U.S. ATTORNEY PREET BHARARA ON INSIDER TRADING
VIDEO | CHAO, DIAMOND, HARRIS ON U.S. JOBS MARKET, TAX CODE
VIDEO | AQR'S ASNESS DISCUSSES HEDGE FUND PERFORMANCE, FEES
VIDEO | STOCKS WON'T REPEAT LOST DECADE, GUNDLACH SAYS
VIDEO | MORGAN STANLEY'S PORAT ON REGULATION, FED
VIDEO | AL ZAIN, BROWNSTEIN, CHRISS ON FED, ALTERNATIVES
VIDEO | BLINDER, MELTZER, TAYLOR, WARSH ON FED POLICY
VIDEO | COHEN, EINHORN, EVEILLARD, LEVKOVICH ON FED
VIDEO | M&A MAY RECOVER AFTER ELECTION, JPMORGAN’S LEE SAYS
VIDEO | HOLLAND, MOYO, WALTER DISCUSS CHINA'S ECONOMY
VIDEO | COHEN, PARKER, WEINBERG, WEISS DISCUSS M&A OUTLOOK
BLOOMBERG MARKETS MAGAZINE
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