FIT Sponsorship
MEDIA, JOBS & RESOURCES FOR THE COMMON GOOD
NEWS  |  Leadership

Corporate Leaders to Study Future of Global Financial System


Wednesday, 27th January 2016 at 7:32 pm
Staff Reporter
A group of eight leaders in global finance and economics who met at the World Economic Forum  in Davos, Switzerland have agreed to join a high-level taskforce focused on the future of the global financial …

Wednesday, 27th January 2016
at 7:32 pm
Staff Reporter


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
Corporate Leaders to Study Future of Global Financial System
Wednesday, 27th January 2016 at 7:32 pm

A group of eight leaders in global finance and economics who met at the World Economic Forum  in Davos, Switzerland have agreed to join a high-level taskforce focused on the future of the global financial system.

The group, which was formed at the request of the Governor of the Bank of England and Chairman of the Financial Stability Board,  Mark Carney, and the Founder and Executive Chairman of the World Economic Forum, Professor Klaus Schwab, have been tasked to identify, analyse and propose recommendations in response to major transformative forces influencing the future of global finance and economics.

The taskforce, which met for the first time in Davos, comprises senior decision-makers from Citigroup, BlackRock, HSBC, Bank of America, Reserve Bank of India, IMF and the Chinese University of Hong Kong.

“The Taskforce is bringing focus to issues we all are dealing with as we help drive the real economy to responsible and sustainable growth. I appreciate the partnership among the members and with the World Economic Forum on these important matters,” CEO of Bank of America, Brian Moynihan, said.

A recent document authored by the Financial Services team of the World Economic Forum and Anders Borg, the Chair of the Forum’s Future of the Global Financial System Challenge, offered five critical areas for the group to explore during its inaugural meeting including financial inclusion as a means of poverty reduction, the impact of technology in redrawing the boundaries of the financial system, emerging markets, gaining a commitment to ensure that the financial system can meet society’s needs and the future and the impact of regulatory and monetary policies on systemic stability.

“The global financial system needs to take stock of important ongoing changes. Emerging market countries play an ever more crucial role in global markets and economics – financial governance, cooperation and coordination need to adapt to this reality,” Anders Borg said.

Head of Financial Services at the World Economic Forum, Giancarlo Bruno said that “as the institution for public-private cooperation, the Forum is uniquely positioned to unite the relevant stakeholders of the financial system in an effort to devise an effective framework that supports the international financial system of the future in fulfilling its mandate to society.”

He said the Taskforce would continue to explore these themes and others throughout 2016, with the ultimate objective of publishing a more comprehensive suite of recommendations and actions during the 2017 annual meeting in Davos.

The World Economic Forum is a Not for Profit global organisation established in 1971 for public-private cooperation and is based in Switzerland.



FEATURED SUPPLIERS


We specialise in data solutions consulting and IT profession...

DQUBE Solutions

NGO Recruitment is Australia’s not-for-profit sector recru...

NGO Recruitment

Yes we’re lawyers, but we do a lot more....

Moores

Helping the helpers fund their mission…...

FrontStream Pty Ltd (FrontStream AsiaPacific)

More Suppliers

Get more stories like this

FREE SOCIAL
SECTOR NEWS

YOU MAY ALSO LIKE

Oxfam Calls on Corporations to Take Action on Wealth Inequality

Ellie Cooper

Wednesday, 18th January 2017 at 1:05 pm

Australia Ranked in Top 10 Most Inclusive World Economies

Lina Caneva

Wednesday, 18th January 2017 at 10:34 am

Equal Pay for Women 118 Years Away

Xavier Smerdon

Monday, 23rd November 2015 at 11:45 am

Corporates and Public Misaligned on Trust

Lina Caneva

Wednesday, 28th January 2015 at 10:14 am

POPULAR

$110M Package Tackles Anxiety and Depression Among Young Australians

Wendy Williams

Tuesday, 9th January 2018 at 8:46 am

Social Enterprise Announces $500,000 Funding for Social and Affordable Housing

Luke Michael

Monday, 15th January 2018 at 11:26 am

Privatisation Poses New Challenges for NFPs Managing Their Workforce

Luke Michael

Tuesday, 9th January 2018 at 4:36 pm

White Ribbon Australia CEO Announces Retirement

Wendy Williams

Wednesday, 10th January 2018 at 5:15 pm

Write a Reply or Comment

Your email address will not be published. Required fields are marked *


FIT Sponsorship
pba inverse logo
Subscribe Twitter Facebook

The social sector's most essential news coverage. Delivered free to your inbox every Tuesday and Thursday morning.

You have Successfully Subscribed!