Asia Summit 2015

Asia Summit 2015

Program


Thursday, September 17, 2015

Thu 9/17
8:00 am - 4:00 pm

Registration & Networking

Thu 9/17
9:00 am - 10:00 am

A World in Turmoil: Finding Opportunities Amid Volatility

China's stock market turmoil and currency devaluation can be added to a list of uncertainties that threatens to disrupt the global economy's uptrend. Greece's default, structural challenges in the BRIC economies -- from Brazil's infrastructure problems and Russia's commodity dependency to India's overdue labor law reforms - along with the prospect of a U.S. interest rate hike, are fueling fear of renewed financial turmoil. What are the chances these challenges will stall growth? And what can we do to lessen their impact? Other developments require attention, as well. As manufacturing in parts of China, South Korea and Taiwan moves elsewhere in Asia, will financial and business services step into the void? Will a new tier of emerging cities -- Jakarta, Hanoi and Delhi as well as China's eastern coastal cities -- benefit from the outflow? With these dynamics unfolding during a time of volatile recovery, navigating the commercial opportunities and dangers will be difficult. Our expert panel will offer insights and help chart a course for turbulent times.

Introduction By

Michael L. Klowden

President and CEO, Milken Institute

Moderator

Haslinda Amin

News Correspondent and Anchor, Bloomberg Television

Speakers

Piyush Gupta

CEO and Director, DBS Group; Director, DBS Bank

Michael Milken

Chairman, Milken Institute

Scott Minerd

Managing Partner, Chairman of Investments and Global Chief Investment Officer, Guggenheim Partners

Thu 9/17
10:15 am - 11:15 am

Hyper-Aging: What Leaders Should Know About the Global Demographic Shift

Population aging, the product of increasing longevity and lower birth rates, has profound implications for business, government, civil society and individuals across the globe. Asia includes some of the world's most rapidly aging populations. While aging presents significant health, financial and social challenges, an understanding of the opportunities created by longer lives is emerging. Retirement is being reimagined as older adults turn away from age segregation and mass leisure to continue their work, launch businesses, pursue new education and purposefully contribute to their communities. A longevity economy is developing as markets recognize the demand for products and services for this growing demographic. Healthy, productive and purposeful aging holds promise for strengthening societies, expanding economies, and improving the lives of people of all ages. How can companies and policymakers respond effectively to the changing demographic landscape? How can investors capitalize on the aging shift? Our panelists offer a global perspective on the opportunities and challenges of this life-changing phenomenon.

Moderator

Paul Irving

Chairman, Center for the Future of Aging, Milken Institute

Speakers

Hiroko Akiyama

Professor, Institute of Gerontology, University of Tokyo

André Bourbonnais

President and CEO, PSP Investments

Donald Kanak

Chairman, Prudential Corporation Asia

Jacqueline (Jackie) Wong

CEO, Temasek Trust; CEO and Executive Director, Temasek Management Services

Thu 9/17
10:15 am - 11:15 am

Modi's Second Year: Realism After Optimism

Prime Minister Narendra Modi's relentless diplomacy and free-market reforms raised hopes that India would rocket ahead as Asia's new growth engine. While IBM, Microsoft and most recently, FitBit, have launched operations in India, many other companies are still waiting in the wings, reluctant to commit because of the country's difficult business climate. What is stopping India from true economic liftoff? What do investors need to know about navigating the Indian bureaucracy, political landscape, local regulations and business culture? How can effective partnerships be built with local companies? Join this panel for a candid, detailed discussion on the nation's inner workings and the implications for investors.

Moderator

L. Brooks Entwistle

Partner and CEO, Everstone Group

Speakers

Gunit Chadha

Co-CEO, Asia Pacific, and Member, Global Group Executive Committee, Deutsche Bank AG

Vinod Kumar

Managing Director, Tata Communications Ltd.; CEO, Tata Communications Ltd. Group

Rashesh Shah

Chairman and CEO, Edelweiss Group

Shivnath Thukral

Group President, Corporate Branding and Strategic Initiatives, Essar Group

Thu 9/17
10:15 am - 11:15 am

Women Leaders in Finance Hosted by UBS AG (By invitation only)

This roundtable series convenes a select group of senior women for an off-the-record discussion hosted by Milken Institute Chairman Michael Milken. Participants will have the opportunity to discuss challenges and opportunities related to economics and finance in Asia. The session will also offer guests an opportunity to network and receive uncensored insights from their peers.

Introduction By

Tamera Hodges

Managing Director and Head of Prime Services Sales, Asia Pacific, UBS AG

Moderator

Michael Milken

Chairman, Milken Institute

Speakers

Tzu Mi Liew

Managing Director and Head of Fixed Income, GIC

Archana Parekh

Portfolio Manager, SeaTown Holdings

Sheila Patel

CEO, International, Goldman Sachs Asset Management

Min Lan Tan

Managing Director and Head of Asia Pacific Investment Office, UBS Wealth Management

Su Shan Tan

Managing Director and Group Head, Consumer Banking and Wealth Management, DBS Bank

Jing Ulrich

Managing Director and Vice Chairman of Asia-Pacific, JPMorgan Chase & Co.

Tracey Woon

Vice Chairman, ASEAN Corporate and Investment Banking, Citigroup, Singapore

Thu 9/17
12:00 pm - 2:00 pm

Asia's Future: Perspectives on Prospects and Challenges

Policy Perspectives: Asia's Prospects and Challenges Southeast Asia has grown in economic and strategic relevance with the expansion of markets in China and India. Join us as our special guests offer perspectives on global and regional issues, including the prospects and challenges faced by ASEAN, as well as those confronting individual Southeast Asian nations. Topics of discussion will include China's economic slowdown, the expansion of ISIS, the ASEAN Economic Community, the benefits of improved port, rail and road connectivity and proposed free-trade pacts such as the Trans-Pacific Partnership. This program will provide an opportunity to hear frank, unfiltered insights from our esteemed speakers. Business Perspectives: Preparing for Asia's Future Asia is experiencing new economic vulnerabilities as the world's fastest-growing region. To attain higher levels of development, Asian economies must achieve more inclusive and sustainable growth. How are global companies reaching new consumers and laying the foundations for Asia's future? In this panel, industry leaders and experts explore how companies are meeting the needs of Asia's diverse markets and discuss the latest innovations, initiatives and platforms to spur growth.

Welcoming Remarks

Heng Wing Chan

Chairman, Asia Center, Milken Institute

Introduction By

Kirk Wagar

U.S. Ambassador to Singapore

Moderators

Michael Milken

Chairman, Milken Institute

Kevin Sneader

Chairman, Asia, McKinsey & Co.

Speakers

Achal Agarwal

President, Asia Pacific Region, Kimberly-Clark Corporation

Tim Cofer

Executive Vice President and President, Asia-Pacific, Eastern Europe, Middle East and Africa, Mondelēz International

Sam Fischer

President, Greater China and Asia, Diageo

Luhut Binsar Panjaitan

Coordinating Minister for Political, Legal, and Security Affairs, Republic of Indonesia

Cesar Purisima

Secretary of Finance, Republic of the Philippines

Jing Ulrich

Managing Director and Vice Chairman of Asia-Pacific, JPMorgan Chase & Co.

Chris Wei

Chairman, Aviva Asia; Global Chairman, Aviva Digital

Thu 9/17
2:30 pm - 3:30 pm

Global Capital Markets Advisory Council Roundtable (By invitation only)

The GCMAC is made up of senior leadership from investment funds representing more than $18 trillion in assets under management. These off-the-record meetings are among a very small number of gatherings where senior investment officers and principals speak candidly about the issues driving their decisions and gather non-consensus views about financial markets and macroeconomic trends.

Moderator

Richard Ditizio

Executive Vice President and Chief Operating Officer, Milken Institute

Speakers

André Bourbonnais

President and CEO, PSP Investments

Michael Milken

Chairman, Milken Institute

Hiromichi Mizuno

Executive Managing Director and Chief Investment Officer, Government Pension Investment Fund, Japan

Yingyong Nilasena

Deputy Secretary General and Chief Investment Officer, Government Pension Fund, Thailand

Manraj Sekhon

CEO and Chief Investment Officer, Fullerton Fund Management

Thu 9/17
2:30 pm - 3:30 pm

The Rising Sun: Japan's Resurgence in the Asia-Pacific Region

Japan has set its sights on the Southeast Asian and Chinese markets to make up for sluggish consumption by its aging consumers. Increasing tourism and strengthening links to the Association of Southeast Asian Nations (ASEAN) are key elements of Prime Minister Shinzo Abe's strategy to invigorate domestic markets. Tourism is up, thanks to a weaker yen, easier visa procedures and more duty-free shopping locations. Visitors from other Asian countries, particularly China, are snapping up real estate along with consumer goods such as skincare products and pharmaceuticals. Can tourists buy enough to support domestic producers? How are the locals adapting to the influx of foreigners? Japan and the Mekong countries -- Cambodia, Laos, Myanmar, Thailand and Vietnam -- plan to develop industrial infrastructure and enhance regional value chains by creating special economic zones. How will this be implemented, and which sectors will be involved? Can Japan reclaim its economic leadership position in Asia? Our diverse panel will offer insights into Japan's economic recovery and its role in a dynamic region.

Moderator

Kotaro Tamura

Asia Fellow, Milken Institute; Chairman, Japan Intelligence Initiative; Former Senator and Parliamentary Secretary for Economic and Fiscal Policy, Japan

Speakers

Paul Gruenwald

Managing Director and Chief Economist, Asia-Pacific, Standard & Poor's Ratings Services

Hiro Hirano

CEO, KKR Japan

Yuji Kage

Senior Advisor, Blackstone Group, Japan

Tatsuo Yamasaki

Former Vice Minister of Finance for International Affairs, Japan

Thu 9/17
3:45 pm - 4:45 pm

Macroprudential Regulation and Trade Finance: Unintended ... Opportunities? (By invitation only)

Following the financial crisis and subsequent global trade collapse, macroprudential regulation and trade finance came to the forefront of the economic debate. By aiming to mitigate systemic risk, macroprudential regulation of Western banks could limit the availability of trade finance in Asia. Specifically, the short-term nature of trade finance -- about 105 days for loans -- made it an easy target for European banks looking for places to deleverage under Basel III. In essence, Asia, the largest consumer of trade finance, may become the first casualty of Western macroprudential policy. This private session will provide a unique opportunity for Asian regulators to share their views on how, why and when macroprudential regulation has succeeded in Asia and to offer their take on Basel III. Participants also will discuss how it and other new regulations, such as Know Your Customer, may force changes in the composition of trade finance in Asia and what must be done to attract more non-bank financial intermediaries.

Moderator

Claude Lopez

Director, International Finance and Capital Markets Research, Milken Institute

Thu 9/17
3:45 pm - 4:45 pm

Treasure Hunters: Finding Value in Today's Market

Investors are becoming nervous about Europe's future and the effect of Chinese market interventions. After a multiyear bull market, where can investors find opportunities? We will ask our expert panel for their views on investing in the current environment. Which asset classes are providing the best bargains? What investment strategy provides the best chance of success? Which geography presents the most attractive risk-reward proposition? How do investors incorporate a margin of safety in their calculations, and what role does contrarian analysis play in digging up treasure where others see trash?

Moderator

Hans-Paul Bürkner

Chairman, The Boston Consulting Group

Speakers

Thomas Finke

Chairman and CEO, Babson Capital Management

Paul Horvarth

CEO, Orchard Global

Robert Petty

Managing Partner and Co-Founder, Clearwater Capital Partners

Takumi Shibata

Representative Director, President and CEO, Nikko Asset Management

Thu 9/17
5:00 pm - 6:00 pm

FinTech in Asia: What Comes Next? (By invitation only)

Financial technology, or FinTech, startups are blossoming across Asia with the promise of more efficient, lower-cost services for people and businesses underserved by traditional institutions. Backed by billions of dollars in venture capital, these digital platforms provide a range of services, from accessible loans to currency exchange and remittance services. What are the latest innovations in Asia's rapidly growing FinTech sector? How are banks responding and should they be concerned? How will regulators adapt to these insurgent companies, and can they balance protection and progress? This meeting will feature an interactive discussion, providing participants with an opportunity to hear frank insights from a diverse group of speakers.

Moderator

Neal Cross

Managing Director and Chief Innovation Officer, DBS Bank

Speakers

Douglas Arner

Professor, Faculty of Law, University of Hong Kong; Co-Director, Duke-HKU Asia America Institute in Transnational Law

Thomas Hyland

Co-Founder and Partner, Aspada Investment Advisors

Piyush Khaitan

Founder and Managing Director, NeoGrowth Credit

Soma Ramasamy

Senior Director, Asia-Pacific Strategy, Paypal

Thu 9/17
5:00 pm - 7:00 pm

Senior Regional Leaders Meeting (By invitation only)

The aim of this exclusive meeting is to bring together a select group of regional and global leaders to exchange ideas on Asia's most pressing economic and financial issues. This meeting will be an off-the-record discussion and an opportunity for guests to hear the candid views of leading investors and financial institutions.

Introduction By

Michael Milken

Chairman, Milken Institute

Thu 9/17
6:00 pm - 7:00 pm

Pre-Dinner Cocktails and Networking
Hosted by Standard & Poor's Ratings Services

Thu 9/17
7:00 pm - 9:00 pm

AIIB and the Evolving Multilateral Lending Landscape

The Asian Infrastructure Investment Bank, the Beijing-led initiative to finance improvements in road, rail and seaport connectivity, is an important step toward meeting the development needs of Asia's emerging economies. Others are responding to the region's appetite for infrastructure funding as well. Japan has announced a $110 billion fund, while the Asian Development Bank and the World Bank are pushing for internal reforms that would increase the overall pool of available capital. The AIIB's governance structure has been announced, but less is known about how it will actually work. Will it function solely at a government-to-government level or will it seek commercial investors? If the latter, what are the implications for the commercial market and risk management? Are there ways to increase AIIB's capital base by involving the private sector? Can global banks and investors be a part of this evolving landscape?

Introduction By

Heng Wing Chan

Chairman, Asia Center, Milken Institute

Moderator

Tommy Koh

Ambassador-at-Large, Ministry of Foreign Affairs, Singapore

Speakers

Jingdong Hua

Vice President and Treasurer, International Finance Corp.

Liqun Jin

President-Designate, Asian Infrastructure Investment Bank; Former Vice Minister of Finance, China

Clive Kerner

CEO, Clifford Capital

Tadashi Maeda

Representative Director and Senior Managing Director, Japan Bank for International Cooperation

Michael Milken

Chairman, Milken Institute

Elena Okorochenko

Managing Director and General Manager, Standard & Poor's Ratings Services, Singapore

Friday, September 18, 2015

Fri 9/18
7:00 am - 4:00 pm

Registration and Networking

Fri 9/18
8:00 am - 9:00 am

The View from Institutional Investors: Where Will Returns Come From?

Persistently low rates of return across traditional asset classes and growing liabilities are prompting pension and sovereign wealth funds to seek alternatives in search of better yields and returns. Increasingly, assets such as hedge funds, real estate and private equity are being added to portfolios. Are opportunities to be found with Asia-focused managers? Which geographies and strategies should investors embrace and which should they approach with caution? What changes are they considering to governance, compliance and asset allocation as they reassess risk-return strategies? Our panel of experts will share their views on the global macroeconomic environment and how it is driving their investment decisions.

Welcoming Remarks

Michael L. Klowden

President and CEO, Milken Institute

Moderator

Jonathan Nelson

Founder and CEO, Providence Equity Partners

Speakers

Gordon Fyfe

CEO and Chief Investment Officer, British Columbia Investment Management Corp.

Jeffrey Jaensubhakij

President, Public Markets, and Director, Equities, GIC

Hiromichi Mizuno

Executive Managing Director and Chief Investment Officer, Government Pension Investment Fund, Japan

Adrian Orr

CEO, New Zealand Superannuation Fund

Fri 9/18
9:15 am - 10:15 am

Global Risk

Advances in technology and global connectivity reinforce the interplay between geopolitics and economics, leading to complex new challenges. Cyberattacks have the potential to weaken and disrupt governments and businesses. The expansion of ISIS, and its ability to recruit educated professionals as well as teens into its ranks, illustrates the wide appeal of extremism. Increased tension over territorial claims in the South China Sea, the shale gas and oil revolution in the U.S., reliance on China as a growth driver, and conflict in Ukraine and the Middle East all place enormous pressure on strategic decision-making. Listen as a panel of experts considers the nature of these risks and what leaders can do to limit the damage.

Moderator

Noeleen Heyzer

Former Under-Secretary-General, United Nations

Speakers

Jing Huang

Lee Foundation Professor on U.S.-China Relations and Director, Centre on Asia and Globalisation, Lee Kuan Yew School of Public Policy, National University of Singapore

Vuk Jeremić

President, Center for International Relations and Sustainable Development; Editor-in-Chief, Horizons

Parag Khanna

Managing Partner, Hybrid Reality Pte. Ltd.; Global Contributor, CNN

James McCormack

Global Head of Sovereign and Supranational Ratings, Fitch Ratings

Fri 9/18
10:00 am - 12:00 pm

Family Program (By invitation only)

The Family Program provides a private setting where prominent families can discuss important issues facing them today -- from family dynamics and creating a meaningful legacy to intergenerational succession planning and raising children amid great affluence. This off-the-record roundtable discussion offers a select group of influential individuals, families and philanthropists firsthand information and access to thought leaders.

Moderator

Richard Ditizio

Executive Vice President and Chief Operating Officer, Milken Institute

Fri 9/18
10:30 am - 11:30 am

Opening China's Market and What It Means for Investors

As China moves toward a market-driven economy by opening its capital account and liberalizing its currency, foreign investors are trying to understand what it means for them. The dramatic intervention in response to the decline in equity markets and the devaluation of its currency demonstrate the disconnect between the government's goal of maintaining economic and social stability and the requirement of free markets to allow supply and demand to set prices. Should countries move from free markets to managed economies in times of stress? The panel of experts will discuss investor sentiment, the evolution of the Chinese market and what it will take to rebuild investor confidence.

Moderator

Kevin Lu

Member, Global Executive Board, and CEO, Partners Group (Singapore) Pte. Ltd.

Speakers

Greg Donohugh

CEO, Double Haven (Hong Kong)

Teck Sien Lau

Partner and Chief Investment Officer, Hopu Investments

Minggao Shen

Head of China Research and Greater China Chief Economist, Citigroup Global Markets Asia

Xuan Yan

President, Greater China, Nielsen

Frank Yao

Vice Chairman, Asia, and Senior Portfolio Manager, Greater China Investment Team, Neuberger Berman

Fri 9/18
10:30 am - 11:30 am

Technology and Innovation: Catching the Next Wave of Investment

Risk-takers and disruptors are deploying their smarts and strategies to turn established business models upside down. Huge investments are starting to pay off as social media, global supply chains, advanced product design and innovative health-care technology change the way we think, communicate, work and play. Which technologies will have the greatest impact on society? Who among Asia's top investors are financing these groundbreaking efforts? As smartphones become more pervasive in Asia--the world's next great consumer market--where can venture capitalists and other investors find new opportunities? When will the next wave of innovation hit, and what will the technology landscape look like in the next five to 10 years?

Moderator

Newley Purnell

Tech Asia, Wall Street Journal

Speakers

Maximilian Bittner

CEO, Lazada Group

Jenny Lee

Managing Partner, GGV Capital

Thomas Magnanti

President, Singapore University of Technology and Design; Institute Professor, MIT

Nick Nash

Group President, Garena

John Riady

Director, Lippo Group; Co-Founder, MatahariMall.com

Fri 9/18
12:00 pm - 1:30 pm

China's Growing Movie Industry: Does It Still Need Hollywood?

The global box office is king, and demand for international movies and television has never been greater. Asia is at the forefront of a new entertainment paradigm, with many of its distributors aggressively exporting films around the world. In fact, China, with the world's fastest-growing movie industry, is expected to surpass Hollywood in box-office revenue by 2017. The growth of the Asian market has sparked drives to co-produce and co-finance movies with big Hollywood studios. But does China's industry, rich with skilled filmmakers and solid financial backing, really need Hollywood's help? What is the key to reaching a growing, and increasingly prosperous, middle class in East Asia? Who holds the advantage, and how do companies determine what the new consumers actually want? Can new streaming services combat piracy and also provide an effective means to deliver content to consumers' homes?

Introduction By

Laura Deal Lacey

Managing Director, Asia Center, Milken Institute

Moderator

Kevin Klowden

Managing Director, California Center, and Managing Economist, Milken Institute

Speakers

Chris Bremble

CEO, Base Media

Ellen Eliasoph

President and CEO, Village Roadshow Entertainment Group Asia

James Fong

CEO, Oriental DreamWorks

Rose Kuo

CEO and Artistic Director, Qingdao International Film Festival Planning Team, Wanda Cultural Industry Group

Peter Shiao

Founder and CEO, Orb Media Group; Chairman Emeritus, U.S.-China Film Summit

Fri 9/18
12:15 pm - 1:45 pm

Milken Institute Young Leaders Circle Lunch and Program (By invitation only)

Moderator

Curtis S. Chin

Asia Fellow, Milken Institute; Former U.S. Ambassador to the Asian Development Bank

Speaker

Eric Cantor

Vice Chairman and Managing Director, Moelis & Co.; Former Majority Leader, U.S. House of Representatives

Fri 9/18
2:00 pm - 3:00 pm

How to Build a Great Hedge Fund in Asia

In the hedge fund industry, 90 percent of assets are controlled by only 11 percent of the funds. With so much money concentrated in so few funds, this market is one of the toughest for new managers. It is particularly true in Asia, where only a few managers have been able to grow to the size of their U.S. and European counterparts. Industry veterans would argue that people are the secret to achieving great performance and client trust. Our panel will discuss how managers can pick the right strategies and talent to build a world-class investment team. They will address a wide range of questions: Is a key-man fund better than the multi-manager model? Which do institutional clients prefer and which is easier to scale? How do you attract the best analysts and portfolio managers? When the fund is down, what keeps investors in the game? What is the secret to building a successful hedge fund?

Moderator

Alvin Tay

Managing Director and Head of Asia-Pacific, Cambridge Associates

Speakers

Hyder Ahmad

Founder and Chief Investment Officer, Broad Peak Investment Advisers Pte Ltd

Adam Levinson

Founder, Managing Partner and CEO, Graticule Asset Management Asia

Manraj Sekhon

CEO and Chief Investment Officer, Fullerton Fund Management

Nick Taylor

Founder and Chief Investment Officer, Senrigan Capital Group

Danny Yong

Chief Investment Officer and Founding Partner, Dymon Asia Capital

Fri 9/18
2:00 pm - 3:00 pm

U.S. Overview: A Bright Outlook or Looming Uncertainties?

The U.S. economy continues to expand, buoyed by job growth, low energy prices and increased consumer spending. Those aren't the only reasons for optimism. Key trade agreements such as the Trans-Pacific Partnership appear to be on track and, in another sign of confidence, the Federal Reserve has signaled its intention to raise interest rates this year. Yet questions remain about the strength of the recovery and America's political direction. U.S. exports have fallen as the dollar has risen in value against the euro, yen and most other world currencies, slowing growth. Will the economy slow further? And what will an interest rate hike mean for equity markets and emerging economies, two beneficiaries of near-zero rates? What issues will shape the presidential race, and what are the consequences for Asia?

Moderator

Heng Chee Chan

Ambassador-at-Large, Ministry of Foreign Affairs, Singapore

Speakers

Eric Cantor

Vice Chairman and Managing Director, Moelis & Co.; Former Majority Leader, U.S. House of Representatives

Ross DeVol

Chief Research Officer, Milken Institute

T. Bondurant French

Executive Chairman, Adams Street Partners

Amy Wilkinson

Professor, Stanford Graduate School of Business; Author, “The Creator’s Code”

Fri 9/18
3:15 pm - 4:30 pm

Global Capital Markets: Taking Stock of Recent Developments

The plunge in Chinese equities after a long surge, along with the country's slower economic growth, produced ripple effects in global and regional markets. How have they affected stock markets, liquidity, banking and investment globally? Are the measures undertaken by regulators enough to quell volatility? What other emerging markets are poised to take off? What will an increase in U.S. interest rates mean for equities and emerging economies? As demand rises with incomes, will commodity prices turn up? In the longer term, how will innovation and changing technology, financial structures and business models influence capital markets and the companies that rely on them?

Moderator

Martin Soong

Anchor, CNBC

Speakers

David Bonderman

Founding Partner, TPG

Joshua Harris

Co-Founder and Member, Board of Directors, Apollo Global Management

Michael ByungJu Kim

Partner and Founder, MBK Partners

Michael Milken

Chairman, Milken Institute

Fri 9/18
4:15 pm - 5:15 pm

Milken Institute Young Leaders Circle Reception (By invitation only)

Fri 9/18
4:30 pm - 5:30 pm

Closing Cocktails