The annual FIBI International Banking Conference took place on Wednesday 20th November in the College Green Hotel, attended by more than 140 business leaders. The theme of this year’s conference was Looking ahead after a year of elections and the discussion on the day looked at the changing geopolitical landscape and the evolving regulatory climate and assessed the impact on international banks operating in Ireland.
The conference was moderated by Joe Lynam, Newstalk Business Editor with an opening keynote from FIBI Chair Fernando Vicario, Chief Executive Officer, Bank of America Europe DAC, in which he highlighted the continued strong performance of the Irish economy and the financial services industry while underlining some of the geopolitical challenges to that success. This was followed by a keynote address from Vasileios Madouros, Deputy Governor, Monetary and Financial Stability, Central Bank of Ireland who charted Ireland’s development as a significant financial centre in Europe.
The first panel addressed What are our CEOs focused on now and into the future? with Fiona Gallagher, Chief Executive Officer, Wells Fargo Bank International; Davinia Conlan, Citi Ireland Country Head; Nicola Vavasour, Chief Executive Officer, Scotiabank (Ireland) DAC; and Ian Nelson, Partner, Head of Financial Services and Head of Regulatory, KPMG. It was noted that while the international banking sector is not immune from the domestic pressures in housing and talent shortages, the long-term resilience of the sector and its ability to adapt to market conditions was highlighted.
The next section of the conference focused on The regulatory horizon – bedding down or plenty more to come! with a keynote from Martin Merlin, Director, Financial Markets, DG FISMA, European Commission, who noted that even though the last 5 years have been among the most turbulent in the history of the European Union, a number of steps were taken to improve EU investment fund regulations regarding AIFMD and UCITS. The policy agenda for the new Commission recognises that Europe is not where it should be and sets out a path for the Savings and Investment Union to enhance its competitiveness moving forward. He then joined the panel discussion which included Enda Kilcullen, Chief Executive Officer, TD Securities; Virginie Saade, Managing Director, Head of Government and Regulatory Policy, EMEA, Citadel Securities; and Michael J. McGrath, Assistant Secretary General, Finance Services Division, Department of Finance. There was some agreement for a tempering of the pace of new regulations but less confidence from member institutions that this will actually happen. The concern was raised from policy makers of the risk of jeopardising some of the regulatory framework that has contributed the resilience demonstrated in the sector in recent years.
Owen Lewis, Partner, Head of Management Consulting, Head of Banking and Capital Markets, KPMG gave an overview of global insights for international banks on value-led transformation. He highlighted the potential for AI tools to support members in determining the applicable regulations for particular
activities. This was followed by a panel of economists which included James Pomeroy, Global Economist, HSBC; Ruben Segura-Cayuela, Head of Europe Economics Research, Bank of America; and David
Purdue, Chief Economist, National Treasury Management Agency who discussed
the global outlook after the year of elections. The strengths and weaknesses of a range of
global market participants was discussed in some detail. The significant potential of Indian trade,
the mixed picture across the EU and some of the challenges to the strong
performance of the Irish economy were considered.
Finally, a much-anticipated fireside chat was held with José Manuel Campa, Chairperson, European Banking Authority and Francesco Ceccato, Chief Executive Officer, Barclays Europe. In a wide-ranging discussion, the very real threats posed by climate change and the imperatives for the whole financial sector to play its role in supporting the critical transition financing was discussed in some detail.
Brian Hayes, CEO of BPFI delivered the closing remarks to the conference and cautioned all industry stakeholders not to take Ireland’s success for granted.
We would like to thank our conference sponsors KPMG, Matheson and IOB.
To find out more about the Federation of International Banks in Ireland visit here.
