PROGRAMME " FINANCE & ETHICS"

Starting in 2007, the subprime crisis rapidly spread from the US to global capital markets generating devastating effects to the economy. The crisis and surrounding developments have given rise to a new debate on how market forces and incentives are to be aligned with efficiency and with principles of transparency, sufficient to assure public legitimacy of our financial institutions. This is the central question that will occupy us for the 25th Sustainability Executive Roundtable. Practitioners and academics will confront their respective views, and explore new territories and financial practices to create value from business activity while respecting also the necessity that these practices be viewed as legitimate in their broader social context.

Thursday 10 March

19.30

Cocktail and Dinner, INSEAD Cercle

Friday 11 March
08.00 - 08.30

Registration and welcome coffee

Venue: Amphitheatre Valeria & Rudolf Maag (O)
08.30 - 08.45 General presentation of the agenda
08.45 - 10.15

Finance and the real economy: a proper use of finance
Is responsible and ethical behaviour a prerequisite for sustainable success for corporations and banks?

Moderator: Dominique Jacquet, INSEAD

Robert-Jan Van de Kraats, CFO, Randstad Holding

Sebastian Grigg, Head of UK investment banking, Credit Suisse

Paul Dembinski, Director, Observatoire de la Finance
10.15 - 10.45 Break
10.45 - 12.00

Financial, economic & social performance? An answer from Socially Responsible Investment

Are social and environmental goals compatible with financial performance? Can social and environmental goals (CSR) help achieve financial performance?

Moderator: Dominique Jacquet, INSEAD

Bertrand Fournier, President, French Social Investment

Forum (FrenchSif)

Laurence Méhaignerie, President, Citizen Capital Partenaires

Christine Blondel, INSEAD
12.00 - 13.30

Lunch, INSEAD Cercle
13.30 - 15.00

Contributions from the academic world: Problems solved and unresolved
What are the power and limits of current models/theories of finance in the economy?

Moderator: David Shirreff, The Economist

Bernard Sinclair-Desgagné, HEC Montréal

Theo Vermaelen, INSEAD

Paul Kleindorfer, INSEAD

15.00 - 15.30

 Break
15.30 - 16.15

Responsibility and regulation: where should the balance lie with respect to financial innovation?

Keynote speaker: Tom Huertas, Alternate Chair, European Banking Authority and Banking Sector Director, Financial Services Authority, London

Thomas F. Huertas is Director, Banking Sector at the Financial Services Authority (UK). He is also Alternate Chairperson of the European Banking Authority (EBA), where he will carry out the functions of the Chairperson-elect in his absence. He is also a member of the Basel Committee on Banking Supervision and a Member of the Financial Stability Board’s Steering Group on Resolution. Prior to joining the FSA in 2004, Tom held a number of senior positions in Citigroup, including Chairman and CEO of Citibank Germany AG and Country Corporate Officer for Switzerland. He has published extensively on banking issues, including the recent book, Crisis: Cause, Containment and Cure. He holds a Ph.D. in economics from the University of Chicago and is guest lecturer in finance at the Johann Wolfgang von Goethe University in Frankfurt, Germany.
16.15 - 17.00

Conclusion & general discussion

Education, ethics and the role of B-Schools

Moderator: Luk van Wassenhove, INSEAD
Frank Brown, Former Dean, INSEAD
Craig Smith, INSEAD
Dominique Jacquet, INSEAD
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