Financial Markets: The End of Globalization?
Isolationist tendencies are gaining ground across the world: this can be seen with Brexit and with the rhetoric coming from the US Government and many European politicians. Does this mean that we will be seeing trends towards a reversal of globalization, particularly on financial markets? Russia is an example of an open financial market with liberal legislation. On the other hand, there are countries with successfully developing economies – like China, for example – which have significant limitations on cross-border financial transactions. What model is the most effective for developing economies? Throughout the world, national legislation with respect to financial institutions is becoming stricter, complicating the work of traditional banks and stock exchanges in global markets. At the same time, new digital solutions in the financial sector have no regard for national borders and jurisdictions. A process of disintermediation – the removal of the intermediary functions of financial organizations – is under way. What is the future of traditional financial institutions in these circumstances?
Alexey Kudrin , Chairman of the Board, Center for Strategic Research Foundation; Deputy Chairman, Economic Council under the President of the Russian Federation
Anatoly Aksakov , Chairman of the Committee of the State Duma of the Federal Assembly of the Russian Federation on Financial Markets; President, Association of Regional Banks of Russia (Association ‘Russia’)
Alexander Afanasiev , Chairman of the Executive Board, Moscow Exchange
Hans-Paul Buerkner , Chairman, The Boston Consulting Group
Christian Keller , Managing Director, Head of Economics Research, Barclays
Christian Sewing , President, Head of Private and Commercial Bank (including Postbank), Deutsche Bank AG
Sergey Shvetsov , First Deputy Governor, Central Bank of the Russian Federation
Alexey Yakovitskiy , Global Chief Executive Officer, VTB Capital Holding
Front row participants:
Oleg Mukhamedshin , Deputy Chief Executive Officer, Director for Strategy, Business Development and Financial Markets, RUSAL