Programme

UNDERPINNING RUSSIA’S FINANCING ASPIRATIONS

Russia’s New Horizons
Panel
Pavilion 5, Conference Hall 5.3

In order for Russia to reach its potential as an international financial centre, it needs to build the institutional investor base that comes with mature insurance and pension investment systems. What are the practical steps and timelines for developing Russia’s institutional investment infrastructure?

Moderator:
Viatcheslav Pivovarov , Chief Executive Officer, Altera Capital

Panellists
Ruben Aganbegyan , Chairman of the Supervisory Board, Bank Otkritie Financial Corporation; Member of the Board of Directors, Otkritie Holding
Alexander Afanasiev , Chairman of the Executive Board, Moscow Exchange
Patrick Clackson , Chief Executive, Corporate and Investment Banking, EMEA, Barclays
Alexei Moiseev , Deputy Finance Minister of the Russian Federation
Dmitriy Pankin , Chairman of the Management Board, Eurasian Development Bank (EDB)
Sergey Shvetsov , First Deputy Governor, Central Bank of the Russian Federation
Denis Shulakov , First Vice-President, Gazprombank (Joint-Stock Company)

Broadcast

Key moments

Now is the time to make understandable regulation: perhaps not from the point of view of the details, which have to be discussed anyway, but rather from the point of view of what we’re trying to achieve. Because regulation is also a matter of trust.
Alexander Afanasiev
The key thing is the investment climate. The investment climate can stimulate development of the equity market and IPOs. In turn, this will boost capitalisation and once again make it profitable for shareholders to capitalise their companies and not skim money out of them. Shareholders will have an economic incentive to respect minority shareholders and develop their market.
Ruben Aganbegyan
The focus, to my mind, has to be on building talent, increasing liquidity and demonstrating that the legal system is predictable and independent.
Patrick Clackson
It seems to me that the country’s top leadership has begun placing very great significance on developing the financial markets, understanding that this represents the only opportunity for Russia to attain acceptable levels of economic growth.
Alexey Moiseev
I hope that the merger between the Federal Service for Financial Markets and the Central Bank will give us the necessary opportunities and tools to work toward faster responses, risk-oriented supervision, and appropriate penalties for market violators.
Dmitry Pankin
Boosting the savings rate can only be achieved through confidence in the national currency and low inflation. When there’s a real sense that by not spending today, you’ll get something tomorrow. And, long-term confidence in the rouble is a key factor and one of the key obligations of the Central Bank.
Sergey Shvetsov
We won’t survive without institutional investors. Let’s all take a look at the two or three basic tools that could be included in the list right away and expand the declaration for pension funds, and begin with something; infrastructure project bonds – that’s No. 1.
Denis Shulakov