marcusevans-finance

Tax Officers Summit XVII: Shanna Steed Interview


Tax Professionals as Project Managers:
Advice from The Walt Disney Company Tax Director Shanna Steed











Shanna Steed, a speaker at the marcus evans Tax Officers Summit XVII Spring 2014, lists the project management skills and expertise that Tax Officers need to deliver tax projects.

Interview with: Shanna Steed, Director, Tax Provision, The Walt Disney Company


FOR IMMEDIATE RELEASE


Tax Officers today should develop good project management skills, in order to operate in today’s complex global business environment and enhance the delivery of tax projects, advises Shanna Steed, Director, Tax Provision, The Walt Disney Company. The primary skills required are good communication, organization and tax technical expertise, she adds.


A speaker at the marcus evans Tax Officers Summit XVII Spring 2014 in Palm Beach, Florida, May 15-17, Steed details the project management skills and expertise required of a tax leader.



Communication. Both written and oral communication skills are critical to understanding project scope and stakeholder requirements and then conveying those data points to the project team.


Understand all the parameters around what is requested. Some Tax Leaders are reluctant to have a full discussion with the person making the enquiry. They start the project or calculation based on assumptions and the deliverable does not meet expectations. This can create chaos within the tax department.


Organization. Front load the project. Understand time constraints, staffing needs, milestone and deliverable dates, and agree project components with stakeholders. Tax departments have ongoing regulatory and statutory deliverables. Layering on incremental work will cause stress. Step back, understand what staffing resources are available, match them to availability and skill set or get external resources as necessary.


Tax technical expertise. To achieve the intended result for a particular project, specific expertise may be required on a particular subject matter. Identify, build or acquire needed resources early.


Be agile. The tax function must be agile to handle requests and to move resources and capabilities to current priorities and requirements. Adapting quickly to changes in tax rules, as well as changes in business environment and operations are key to success.


Keep executive summaries simple. A finance professional without a tax technical background should be able to understand the key points without getting lost.


Good documentation. Keep a record of all project issues that arise and how each issue is resolved or mitigated.


Be audit ready. Develop audit-ready project files and documents.
 
Train staff. Continually build skills, so team members are prepared to respond to changes in the environment or company. Change is inevitable, so change management has to be part of the department’s culture. Be proactive in building personal and technical skills, but also have the technology tools to efficiently adapt to those changes.


Align with the business operations. Ensure the tax department has a seat at the table when various business initiatives are being discussed or planned, so that tax considerations are part of the initial discussion and not an afterthought.



Contact: Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits Division


Tel: + 357 22 849 313
Email: press@marcusevanscy.com



About the Tax Officers Summit XVII Spring 2014


This unique forum will take place at the PGA National Resort & Spa, Palm Beach Gardens, Florida, May 15-17, 2014. The Summit offers solution providers and tax executives an intimate environment for a focused discussion of key new drivers shaping the future of the tax industry. The Summit includes presentations on corporate tax management, international tax planning, corporate tax reform and transfer pricing policy.


For more information please send an email to info@marcusevanscy.com or visit the event website


marcus evans group – finance/insurance sector portal


The Finance Network – marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations.


                              


Please note that the Summit is a closed business event and the number of participants strictly limited.


About marcus evans Summits


marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, case studies, roundtables and one-on-one business meetings. For more information, please visit www.marcusevans.com


All rights reserved. The above content may be republished or reproduced. Kindly inform us by sending an email to press@marcusevanscy.com


 

European Pensions & Investments Summit 2014: Adair Turner News Release


What Pension Fund Investors Could Learn from Adair Turner







 

Adair Turner, a speaker at the marcus evans European Pensions & Investments Summit 2014, shares his outlook on the economy and what implications it may have on investors. 


Interview with: Adair Turner, Former Chairman, Financial Services Authority (FSA)



FOR IMMEDIATE RELEASE


A drop in interest rates in the past 15 years has induced a “ferocious ‘search for yield uplift’”, making some pension fund investors “susceptible to claims that clever financial structuring could deliver additional yield without apparent additional risk,” according to Adair Turner, Former Chairman, Financial Services Authority (FSA). “With extra returns almost always comes greater risk. Returns have to be earned by taking controlled and carefully managed risk,” he says.


Lord Turner is a speaker at the marcus evans European Pensions & Investments Summit 2014, in Montreux, Switzerland, 28 – 30 April.


What drove the financial crisis of 2008 and what factors are critical for a stable and growing economy?


Ahead of the 2008 crash, many central bankers and regulators believed that the global economy and financial system had become more stable, that a “Great Moderation” reigned. The orthodox assumption was that achieving low and stable inflation was sufficient to ensure macro-economic stability; and that financial innovation, securitisation, structuring and derivatives had increased the resilience of the financial system.


But it all ended in disaster. The fundamental drivers of that disaster were: (i) a sustained rise in real economy private sector leverage, with private credit growing relentlessly faster than nominal GDP; (ii) an explosion of complexity within the financial system which, far from making the system safer, increased the danger of self-reinforcing reflexive reactions between different credit and derivatives markets which resulted in first excessive exuberance and then a collapse.


To ensure a more stable economy, central banks need to be focused not just on low and stable rate of inflation, but on the control of the credit cycle.


What lessons did pension investors learn from the crisis? Were they guilty of “pre-crisis delusions”?


There is no free lunch. With extra returns almost always comes greater risk. Nominal and real interest rates fell relentlessly in the 15 years running up to the crisis. In 1990, a pension fund could buy a 20-year GBP or USD index-linked bond giving a guaranteed real return of over three per cent; by 2007 the equivalent was 1.5 per cent. Not surprisingly, this induced a ferocious “search for yield uplift”. That made some pension fund investors susceptible to claims that clever financial structuring could deliver additional yield without apparent additional risk.


And that helped drive the uncontrolled growth of real economy credit packaged into apparently low risk securities, particularly in the US.


Global economic activity strengthened in the second half of 2013. What is your growth forecast? What vulnerabilities still need to be managed better?


The US economy is now recovering reasonably well – but with a very low rate of employment. The UK is also recovering, but in a very unbalanced fashion, too reliant on house price increases and on London’s extraordinary success. The Eurozone faces the real danger of deflation, and the ECB will need to take offsetting measures. 2014 is the crunch year for Abe-economics: the April sales tax increase may produce a significant slowdown; expect to see still more radical stimulative action from the Bank of Japan.


But the most important economy to watch is China. Since 2008, growth has been sustained by extraordinary credit growth. The authorities know they need to slow the boom down, but achieving a soft landing is very difficult. If they do not manage the transition well, China could be the origin of the next financial crisis.


What implications does that carry for pension funds and other asset managers in Europe?


We are in a period of very low nominal and real interest rates on risk-free or very low risk bonds. In the Eurozone and Japan that will remain so for many years; even in the US and UK rates may stay lower for longer than some market participants now think.


Returns therefore have to be earned by taking controlled and carefully assessed risk. Long-term infrastructure financing should provide opportunities for superior yield based on operating cash flows rather than “innovative” structuring. Higher yield dividend stocks may provide good long-term value. Focus on sustainable real economy investments: beware the complex highly leveraged structures which are bound to proliferate the longer ultra-low interest rates last.



Contact: Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits Division


Tel: + 357 22 849 313
Email:
press@marcusevanscy.com



About the European Pensions & Investments Summit 2014


This unique forum will take place at the Fairmont Le Montreux Palace, Montreux, Switzerland, 28 – 30 April 2014. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on increasing fund resilience, establishing a robust risk framework, capturing investment opportunities and assessing the true value of emerging market investments.


For more information please send an email to info@marcusevanscy.com or visit the event website


marcus evans group – investment sector portal 


The Investment Network – marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations.


                          


Please note that the Summit is a closed business event and the number of participants strictly limited.


About marcus evans Summits


marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, case studies, roundtables and one-to-one business meetings. For more information, please visit www.marcusevans.com 



All rights reserved. The above content may be republished or reproduced. Kindly inform us by sending an email to press@marcusevanscy.com

CFO Summit 2014: Derek Ambrose, Wayne Stokes and Sean Unwin News Release


Executive Perspectives:
Speakers from the CFO Summit 2014 Discuss…


How Could CFOs Enable Optimal Efficiency Along the Value Chain?


FOR IMMEDIATE RELEASE


Interviews with Dr Derek Ambrose, Wayne Stokes and Sean Unwin, speakers at the marcus evans CFO Summit 2014, taking place in Queensland, Australia, 16 – 18 March 2014.


Dr Derek Ambrose, CFO, Australian Reinsurance Pool Corporation







 

CFOs can optimise efficiency through their leadership style and behaviour, paying particular attention to the way they practice leadership accessibility and accountability. These simple actions will transform them into respected leaders delivering increased innovation, quality, responsiveness and productivity for the organisation, whilst at the same time improve employee participation, skills, knowledge and attributes, ensuring contribution to the greater good of the organisation and the individual.


CFOs need to understand they are now Chief Facilitating Officers, and their task base has a number of new dimensions. The CFO’s challenge is to supercharge the workforce to achieve competitive advantage, remove constraints, make the workplace a destination of fun and creativity, remove fear, and lead to create a different and unique workplace environment.


Wayne Stokes, CFO, Carnival Australia







 

Cruising is a complicated and intensive business, where customer experience is paramount. Our back-end value chain is customer-focused, whether this is the pre-cruise experience, on-board holiday experience or post-cruise interaction.


As CFO, and like every CFO, data is “king” – knowing how to extract and utilise the data for the benefit of our various business partners along each part of the passenger cruise experience. For example, how the analysis of call types received in our call centre help with sales conversion rates. Analytics of our shore tour operator spend helps yield management and associated margins achieved – and tailoring for the customer. Passenger destination preference combined with fuel consumption and speed helps focus on itinerary planning. Post-cruise passenger insights help drive repeat customers and loyalty to the brand. All of the analysis only works when you truly set your own team up with a “partnering” attitude with the business – and that has to start with me. A lot of my time is dedicated to “coaching” my team and building respect and credibility with the individual business partners. With trust comes results.   


Sean Unwin, CFO Australia, Colliers International







 

The key is not to just sit in the back seat but get involved in the business decision-making and be a true business partner. CFOs have access to a lot of data. They can be brilliant at pulling that data together into information, in an executive format that allows busy executives to make sense of it and to have an opinion on business decisions.


Many CFOs can get too involved in running the finance function, so the key is to have the right people in place to make that happen and instead work more on the business and do not underestimate how much you can contribute to actionable outcome orientated strategies. Transaction processing is not where CFOs should spend their time. They should be well positioned to see how business functions interact and be active in decision-making.


Contact: Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits Division


Tel: + 357 22 849 313
Email:
press@marcusevanscy.com



About the CFO Summit 2014


This unique forum will take place at the Surfers Paradise Marriott Resort & Spa, Australia, 16 – 18 March 2014. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on streamlining operations, enabling optimal efficiency along the value chain, tackling global uncertainty and bolstering financial performance.


For more information please send an email to info@marcusevanscy.com or visit the event website


marcus evans group – finance/insurance sector portal 


The Finance Network – marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations.












 

 

 


Please note that the Summit is a closed business event and the number of participants strictly limited.


About marcus evans Summits


marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, case studies, roundtables and one-to-one business meetings. For more information, please visit www.marcusevans.com 



All rights reserved. The above content may be republished or reproduced. Kindly inform us by sending an email to press@marcusevanscy.com

Latin Investors Summit 2014: Martin Rodriguez


Investment Advice from Integracion AFAP –
Winner of the World Finance Global Pension Awards 2012 and 2013










Martin Rodriguez, the chairperson of the marcus evans Latin Investors Summit 2014, discusses why investors must be extra careful in Latin America today.

Interview with: Martin Rodriguez, Chief Information Officer, Integracion AFAP


FOR IMMEDIATE RELEASE


“Latin America had great investment opportunities in recent years, but investors today must be very careful with their entry point. That is the first step to achieving a successful investment. Ten years ago prices had reached a low point due to the crisis, but today they seem to have hit a ceiling,” says Martin Rodriguez, Chief Information Officer, Integracion AFAP, the winning pension fund at the World Finance Global Pension Awards 2012 and 2013.


Rodriguez is the chairperson of the marcus evans Latin Investors Summit 2014, taking place in Panama City, Panama, March 24-25.


What do investors need to know about the Latin American investment landscape?


They have fix income, corporate bonds and equities, but the biggest growth has been in alternative investments, such as real estate, forestry and land. Latin America had great investment opportunities in recent years, but investors today must be very careful with their entry point.


What investment opportunities would you point investors to?


Given the volatile environment that the markets are facing, investors should follow an investment strategy that is based more on economic fundamentals and not be driven by the “animal spirits” of the short-term. In this landscape, risking too much could bring in more losses than profits. With interest rates rising in emerging markets, there will be opportunities in the region again, mostly in hard currencies. In this sense, it becomes more relevant to weigh the macroeconomic stability of the economies and government management.


What changes should Chief Investment Officers (CIOs) prepare for?


This will be a particular year for the pension industry in Uruguay, as a new law will be introduced that will give members of pension funds the possibility to opt-out and return to a defined benefit plan that is being offered by the government. This will be a challenge for CIOs, as we will have to communicate to our affiliates the best standards of risk exposure and profitability in an environment that is non-favourable for emerging markets.


However, we are investing for the long-term. If we look back to 1996 when the new pension system was established, yields have been good despite market ups and downs. That is what we should look at.


In this environment, how diversified should a fund be?


First, we must consider the type of investor. In our case, the new law enables the creation of a new fund for people who are close to retirement, so investments must be in liquid assets. However, as in every portfolio, you should focus on correlations, and looking for uncorrelated assets in such a globalized world is not easy. It is necessary to distinguish right from wrong very sharply. For example, in emerging markets not everything is all good or bad. It is time to assess the different economies separately. We are in a new phase now.


How do you manage portfolio risk?


We measure the risk exposure of our portfolio on a daily basis. We use different ratios to measure it, such as Value At Risk, tracking error in the portfolio against our benchmark and sensitivity analysis of the portfolio among others. Our biggest challenge in this area, as an Uruguayan pension fund, is about reducing our risk exposure in a volatile environment with ad hoc constraints such as illiquidity of sovereign bonds (the main investment asset of our portfolio) and legal barriers established by the local regulatory authority for investing in other markets.
Interview by:
Sarin Kouyoumdjian-Gurunlian, Press Manager


For more information, contact: Jennifer Keljik, marketing manager
Tel: + 357 22 849 313
Email:
J.Keljik@marcusevansch.com



About the Latin Investors Summit 2014


This unique forum will take place at the Trump Ocean Club, Panama City, Panama, March 24-25, 2014. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on the global economy, alternative investments, diversification of pension funds, and stewarding the family wealth.


The Investment Network – marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations.


                              


Please note that the Summit is a closed business event and the number of participants strictly limited.


About marcus evans Summits


marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, case studies, roundtables and one-on-one business meetings. All rights reserved. The above content may be republished or reproduced. Kindly inform us by sending an email to press@marcusevanscy.com

Latin Investors Summit 2014: Martin Rodriguez Interview


Investment Advice from Integracion AFAP –
Winner of the World Finance Global Pension Awards 2012 and 2013











Martin Rodriguez, the chairperson of the marcus evans Latin Investors Summit 2014, discusses why investors must be extra careful in Latin America today.

Interview with: Martin Rodriguez, Chief Information Officer, Integracion AFAP


FOR IMMEDIATE RELEASE


“Latin America had great investment opportunities in recent years, but investors today must be very careful with their entry point. That is the first step to achieving a successful investment. Ten years ago prices had reached a low point due to the crisis, but today they seem to have hit a ceiling,” says Martin Rodriguez, Chief Information Officer, Integracion AFAP, the winning pension fund at the World Finance Global Pension Awards 2012 and 2013.


Rodriguez is the chairperson of the marcus evans Latin Investors Summit 2014, taking place in Panama City, Panama, March 24-25.


What do investors need to know about the Latin American investment landscape?


They have fix income, corporate bonds and equities, but the biggest growth has been in alternative investments, such as real estate, forestry and land. Latin America had great investment opportunities in recent years, but investors today must be very careful with their entry point.


What investment opportunities would you point investors to?


Given the volatile environment that the markets are facing, investors should follow an investment strategy that is based more on economic fundamentals and not be driven by the “animal spirits” of the short-term. In this landscape, risking too much could bring in more losses than profits. With interest rates rising in emerging markets, there will be opportunities in the region again, mostly in hard currencies. In this sense, it becomes more relevant to weigh the macroeconomic stability of the economies and government management.


What changes should Chief Investment Officers (CIOs) prepare for?


This will be a particular year for the pension industry in Uruguay, as a new law will be introduced that will give members of pension funds the possibility to opt-out and return to a defined benefit plan that is being offered by the government. This will be a challenge for CIOs, as we will have to communicate to our affiliates the best standards of risk exposure and profitability in an environment that is non-favourable for emerging markets.


However, we are investing for the long-term. If we look back to 1996 when the new pension system was established, yields have been good despite market ups and downs. That is what we should look at.


In this environment, how diversified should a fund be?


First, we must consider the type of investor. In our case, the new law enables the creation of a new fund for people who are close to retirement, so investments must be in liquid assets. However, as in every portfolio, you should focus on correlations, and looking for uncorrelated assets in such a globalized world is not easy. It is necessary to distinguish right from wrong very sharply. For example, in emerging markets not everything is all good or bad. It is time to assess the different economies separately. We are in a new phase now.


How do you manage portfolio risk?


We measure the risk exposure of our portfolio on a daily basis. We use different ratios to measure it, such as Value At Risk, tracking error in the portfolio against our benchmark and sensitivity analysis of the portfolio among others. Our biggest challenge in this area, as an Uruguayan pension fund, is about reducing our risk exposure in a volatile environment with ad hoc constraints such as illiquidity of sovereign bonds (the main investment asset of our portfolio) and legal barriers established by the local regulatory authority for investing in other markets.



Contact: Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits Division


Tel: + 357 22 849 313
Email:
press@marcusevanscy.com



About the Latin Investors Summit 2014


This unique forum will take place at the Trump Ocean Club, Panama City, Panama, March 24-25, 2014. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on the global economy, alternative investments, diversification of pension funds, and stewarding the family wealth.


For more information please send an email to info@marcusevanscy.com or visit the event website


marcus evans group – investment sector portal


The Investment Network – marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations.


                              


Please note that the Summit is a closed business event and the number of participants strictly limited.


About marcus evans Summits


marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, case studies, roundtables and one-on-one business meetings. For more information, please visit www.marcusevans.com



All rights reserved. The above content may be republished or reproduced. Kindly inform us by sending an email to press@marcusevanscy.com
 

APAC Investments Summit 2014: Parag Khanna, Andy Xie and Dr Dan Steinbock News Release


Executive Perspectives:
Speakers from the APAC Investments Summit 2014 Discuss…

What does the Future Hold for the Asian Economy, China and its Relationship with the West?


FOR IMMEDIATE RELEASE


Interviews with Dr Parag Khanna, Andy Xie and Dr Dan Steinbock, speakers at the marcus evans APAC Investments Summit 2014, taking place in Kuala Lumpur, Malaysia, 7 – 9 April 2014.


Dr Parag Khanna, Geo-strategist, Author, Advisor







  Both the 2014 and medium-term outlook for Asian economies is very strong. China’s growth continues to be robust as structural reforms advance, while ASEAN has remained resilient in the face of the Fed’s QE tapering. ASEAN’s internal and external trade is growing, while FDI has rebounded; current accounts and currencies have been stabilised, and there is less vulnerability to capital flight. Investment levels remain high with an emphasis on infrastructure and job creation. There will certainly be no repeat of 1997. At the same time, financial inclusion must be a priority: credit instruments and social investment are essential for broad-based growth to take hold. Even as the US rebound accelerates, investors should prioritise long-term allocations towards sectors that have exposure to the rapidly growing urban populations of Asia, which represent the majority of the world’s middle class increase over the next 20 years.


Andy Xie, Renowned Economist







 

The stimulus story in China is over and we now have to solve the structural problems, as well as deal with the consequences of the stimulus plans. We are at a very difficult juncture. The market has been weak for a long time, so valuations are extremely low. Stocks are trading at a huge discount to the US market when they were trading at a premium just a few years ago.


Long-term investors need to consider the direction that China is likely to take. If China makes a turn, the investment prospects will be much better. There is no other country of this size in the region that could grow at the rate that China has. If investors can overcome this difficult period, the future is very bright.


Dr Dan Steinbock, Fellow, Shanghai Institutes for International Studies & Research Director, International Business, India, China & America Institute 







 

Emerging Asia is no longer immune to the debt crises in the US, Europe and Japan, but remains favourably positioned in the medium-term. In the short term, the deferral of local-debt deleveraging should allow Beijing to contain local debt with growth. As China’s grand strategy is shifting, its growth will gradually move toward consumption and innovation, which has the potential to broaden and deepen regional integration, while providing opportunities across Asia. A dynamic investment perspective is thus vital to focus on the upside potential and to assess short-term fluctuations vis-à-vis the region’s structural potential.


Investment and asset allocation strategies must be adjusted on the basis of China’s reforms, US and Chinese rebalancing in the region, and the West’s exit from quantitative easing. Growth trajectories rest on diverging scenarios, from “regional growth and prosperity” to “regional Cold War.” The old investment strategies are now history in the world’s most dynamic region. Business is no longer “as usual” in Asia.


Contact: Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits Division


Tel: + 357 22 849 313
Email:
press@marcusevanscy.com



About the APAC Investments Summit 2014


This unique forum will take place at the Hilton Kuala Lumpur Hotel, Kuala Lumpur, Malaysia, 7 – 9 April 2014. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on forecasting the future economic climate within APAC, mastering investment strategy across higher risk asset classes and geographies, achieving sustainable wealth preservation, analysing family office best practices and optimising tax efficiency. 


For more information please send an email to info@marcusevanscy.com or visit the event website


marcus evans group – investment sector portal 


The Investment Network – marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations.










     


Please note that the Summit is a closed business event and the number of participants strictly limited.


About marcus evans Summits


marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, case studies, roundtables and one-to-one business meetings. For more information, please visit www.marcusevans.com 



All rights reserved. The above content may be republished or reproduced. Kindly inform us by sending an email to press@marcusevanscy.com

European Pensions & Investments Summit 2014: Dr Fan Gang News Release


The Second Season of the Chinese Miracle:
The New Investment Opportunities Coming Our Way







 

Dr Fan Gang, a speaker at the marcus evans European Pensions & Investments Summit 2014, discusses the upcoming investment opportunities in China.


Interview with: Dr Fan Gang, Director, China’s National Economic Research Institute (NERI) & Secretary General, China Reform Foundation



FOR IMMEDIATE RELEASE


“New rounds of reforms in China will bring about a second “season” of the “Chinese miracle” as the Prime Minister said. Many pension funds in Europe did not fully enjoy the investment opportunities the first time around, so they could catch up now,” according to Dr Fan Gang, Director, China’s National Economic Research Institute (NERI) & Secretary General, China Reform Foundation.


A speaker at the marcus evans European Pensions & Investments Summit 2014, in Montreux, Switzerland, 28 – 30 April, Dr Gang talks about China’s new model for economic growth and what Chief Investment Officers (CIOs) in Europe can look forward to.


What is your outlook on the Chinese economy? What do pension fund CIOs in Europe need to know?


The Chinese economy is stabilised now. Like many other countries, China adopted fiscal stimulus and monetary easing policies after the financial crisis, but by mid-2010 it had already started tightening some policies, such as the housing market and government investment in infrastructure. Investors must keep this in mind when they read about a slowdown in China. Most emerging markets only started the exit in 2012.


In the next five years, China will grow by seven to eight percent. Are there other economies with that kind of growth? This environment offers good returns on long-term investments. If compared with other emerging countries, the risks in China are under management.


Many critics say China’s growth is government-led rather than consumption-driven. What do you think?


The private sector, which includes multinationals, accounts to 70 percent of GDP, so it is already very private. From a structural point of view it is true that consumption is low but there is an effort to change that.


Investors must first understand the different nature of investing in China. A lot of the investments are in infrastructure and housing, which are both long-term, durable goods. Investments in the US and Europe can generate returns tomorrow, but investments in railways and highways in China will generate returns over the next 100 years.


Although the government is unlikely to adopt a stimulus policy like that of 2009, it will maintain this level of investment as the country is in the process of urbanisation.


Has political reform come too late or will it help set China on the right track?


China is on the track of market-oriented reform, with more emphasis on the private sector and opening up for more compliance on international rules, but change will not happen overnight. These are gradual changes but the country is on the right track. The economy will be much more efficient in the long-run.


Which sectors and asset classes should long-term investors look at?


My question is how much do they invest in China directly? Many invest in Chinese related sectors or offshore assets, but not very much inside China. Private equity companies will soon be allowed to set up subsidiaries, which will allow even more investors to bring money in leading to even more investment opportunities.


My advice is to try to catch up, because the second season of China’s miracle will bring big opportunities.



Contact: Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits Division


Tel: + 357 22 849 313
Email:
press@marcusevanscy.com



About the European Pensions & Investments Summit 2014


This unique forum will take place at the Fairmont Le Montreux Palace, Montreux, Switzerland, 28 – 30 April 2014. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on increasing fund resilience, establishing a robust risk framework, capturing investment opportunities and assessing the true value of emerging market investments.


For more information please send an email to info@marcusevanscy.com or visit the event website


marcus evans group – investment sector portal


The Investment Network – marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations.


                                


Please note that the Summit is a closed business event and the number of participants strictly limited.


About marcus evans Summits


marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, case studies, roundtables and one-to-one business meetings. For more information, please visit www.marcusevans.com 



All rights reserved. The above content may be republished or reproduced. Kindly inform us by sending an email to press@marcusevanscy.com

Tax Officers Summit XVI: Joseph F. Leary Interview


What Tax Officers Need to Know about ASC 740







Joseph F. Leary, a speaker at the marcus evans Tax Officers Summit XVI Fall 2013, on navigating through ASC 740 Tax Provision (Formerly FAS 109) successfully.

Interview with: Joseph F. Leary, Director of Taxation, Gentek, Inc.


FOR IMMEDIATE RELEASE


“The Accounting Standards Codification (ASC) 740 presents direct and indirect challenges for today’s tax officers. Fundamentally, detailed recordkeeping is required at the transactional level when there is an income tax effect, differences in book basis and tax basis balance sheet accounts must be reconciled, and integrated tax accounts including income tax expense, current and deferred income taxes, and tax reserve accounts must be maintained. In addition, Sarbanes-Oxley requires formal policies and procedures that must be tested for compliance. ASC 740 and FIN 48 are complex accounting pronouncements that often require specialized expertise,” says Joseph F. Leary, Director of Taxation, Gentek, Inc.


A speaker at the marcus evans Tax Officers Summit XVI Fall 2013, in Las Vegas, Nevada, November 14-16, Leary puts the ASC 740 under the spotlight.


What difficulties are tax officers facing with ACS 740?


The difficulties can be mind-boggling for all but the least complex organizations. Detailed data may not be available on an entity’s systems, and in many cases organizational systems integration with tax systems or processes is not a supported organizational priority. Again, depending on an organization’s complexity and budget, tax systems may range from internally developed spreadsheet applications to highly customized platforms with a host of variations in-between. Internal auditors may be far more involved in tax department processes and disagreements with external auditors may have material impacts on entity financial results. Many organizations require monthly updates to tax accounts, and all organizations require at least quarterly computations of income tax expense and balance sheet tax accounts.


Many transactions, depending on the timing and nature of the underlying transaction, will require the establishment of a deferred asset or liability. Deferred items must be monitored to identify when an asset or liability turns around, whether it is appropriate to carry an asset or liability, and whether a valuation allowance is required.


In a changing business environment, how should the tax function be managed?


There is no one-size-fits-all answer. However, at a high level tax officers have three core missions: ensure that tax effects are properly reported in financial statements, federal, state, local and foreign tax compliance, and judicious tax planning. Organizations must determine whether and to what extent tax functions may be handled externally.


What future trends should tax directors prepare for?


The functions performed by tax departments have never before been subject to as much scrutiny as currently exists. While burdens placed on tax departments rapidly grow, organizations routinely shrink badly needed resources that are necessary to reliably perform assigned functions. Voluminous demands for fast and accurate access to and retention of data seem to grow exponentially.


What characteristics will this require of team members?


All members of a tax department, regardless of level, should have a working familiarity with ASC 740 that will enable both issue identification and technical application. Directors and managers should be very well versed and should take a hands-on approach. Of course, however, tax positions will vary across organizations and the degree of ASC 740 complexity will vary accordingly.


Any final words of advice?


Tax officers must stay involved. Unexpected ASC 740 issues can have a material impact on financial statements and can lead to embarrassing Sarbanes-Oxley weaknesses. Address issues immediately, as they arise. If you let them fester, they will only get worse.



Contact: Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits Division


Tel: + 357 22 849 313
Email: press@marcusevanscy.com



About the Tax Officers Summit XVI Fall 2013


This unique forum will take place at the Red Rock Casino, Resort & Spa, Las Vegas, Nevada, November 14-16, 2013. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on corporate tax management, international tax planning, corporate tax reform and transfer pricing policy.


For more information please send an email to info@marcusevanscy.com or visit the event website


marcus evans group – finance/insurance sector portal


The Finance Network – marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations.


                              


Please note that the Summit is a closed business event and the number of participants strictly limited.


About marcus evans Summits


marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, case studies, roundtables and one-on-one business meetings. For more information, please visit www.marcusevans.com



All rights reserved. The above content may be republished or reproduced. Kindly inform us by sending an email to press@marcusevanscy.com


National Healthcare CFO Summit Fall 2013: Kevin J. Lang Interview


Optimizing Your EHR System











Kevin J. Lang, a speaker at the marcus evans National Healthcare CFO Summit Fall 2013, on optimizing a healthcare organization’s clinical and financial EHR System.
 
Interview with: Kevin J. Lang, Executive VP, Finance and Administration/Chief Financial Officer, Loma Linda University Adventist Health Sciences Center


FOR IMMEDIATE RELEASE


Electronic Health Record (EHR) systems are so robust that healthcare organizations have to develop processes linked to the operational leaders to continually refine them in order to pull meaningful financial and clinical data from them,” says Kevin J. Lang, Executive VP, Finance and Administration/Chief Financial Officer, Loma Linda University Adventist Health Sciences Center. However, EHR is the first step to capture and evaluate patient specific information for an organization to achieve population management, the value of which is immeasurable, he goes on to say.


Lang is a speaker at the marcus evans National Healthcare CFO Summit Fall 2013, in Los Angeles, California, October 20-22.


How can healthcare Chief Financial Officers (CFOs) get more out of their EHR systems?


The biggest challenge and opportunity with EHRs today is the need to continually refine them and be intentional about how data is mined for information as part of a metric driven culture, to make the best decisions by coordinating the staff data mining. Secondly, the electronic medical record must be configured to achieve a balance of capturing information in such a way that it does not hurt the productivity of clinicians, physicians and nurses. For a cost effective operation, their participation in the workflow design is essential.


How could EHRs be more efficient?


You have to work with clinicians to pre-program an efficient use of information. We thought we could do this in one or two years, but it is taking us longer. We have to continually think about how we can maximize efficiency. Physicians do not always record the exact time spent with patients when they are charting, as they often go back to health information management late at night. But in order to save time, money and make the best financial decisions, we have to make sure the record is complete.
 
As a CFO, what do you wish to achieve with your EHR system?


I believe that the more you focus on quality, the less expensive it will be. It is about having the appropriate information at the right time in order to make it easier to make the right decision. That will reduce the utilization of services and make people more productive. Whether it is the clinicians or the coding people, I want our organization to be as efficient as possible in every single way. Without information we cannot code appropriately or get bills out quickly.


We want to be able to coordinate care. That was not possible on the old system but we are now on one platform – physicians, hospital and outpatient services – so we can centralize these functions. That opens so many different opportunities.


What is the true potential of EHRs?


When every organization goes electronic and starts sharing data, that is when we can do population management. It is the first step towards taking off as a community or country, offering better care and reducing costs. Physicians will be able to know what tests patients have already undergone and what prescriptions they are on. As providers of care we can begin to use the information to promote wellness initiatives so people are healthier. Many people are on ten or more prescriptions and even if they take their list in, physicians have to ask many questions until they figure everything out. That is a waste of their time. Without electronic records, how can they provide care? Having the information in front of them is invaluable, especially in acute care when it is needed in even tighter timeframes. 


Hospitals have to be intentional about what they are trying to accomplish with EHRs and not just put data in for the sake of doing so. They have to measure, track and continue to improve as part of a metric drive culture.



Contact: Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits Division


Tel: + 357 22 849 313
Email: press@marcusevanscy.com



About the National Healthcare CFO Summit Fall 2013


This unique forum will take place at the Westin Long Beach, Los Angeles, California, October 20-22, 2013. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on revenue cycle management, the future of healthcare, bundled payment models and ensuring efficiency through a clinical and financial EHR system.


For more information please send an email to info@marcusevanscy.com or visit the event website


marcus evans group – finance/insurance sector portal


The Finance Network – marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations.


                              


About marcus evans Summits


marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, case studies, roundtables and one-on-one business meetings. For more information, please visit www.marcusevans.com 



All rights reserved. The above content may be republished or reproduced. Kindly inform us by sending an email to press@marcusevanscy.com

Latin Private Wealth Management Summit 2013

Why Family Wealth Should Be Run Like an Enterprise

 

Maria Elena Lagomasino, a speaker at the marcus evans Latin Private Wealth Management Summit 2013, on applying best business practices in private wealth management.

 

Interview with: Maria Elena Lagomasino, Chief Executive Officer and Founding Partner, WE Family Offices

 

Panama City, Panama, June 4, 2013 – FOR IMMEDIATE RELEASE

 

Families who are able to successfully manage their wealth often use the same best practices that are used to run a business enterprise, says Maria Elena Lagomasino, Chief Executive Officer and Founding Partner, WE Family Offices. They think of their wealth as they would any other business – managing it with a distinct purpose, focusing on best practices, succession planning, governance and decision making – they create a wealth enterprise. The result is that all the family members become engaged, constantly learning, and the likelihood of success is much greater, she elaborates.

 

A speaker at the marcus evans Latin Private Wealth Management Summit 2013, in Panama City, Panama, September 26-27, Lagomasino shares her observations on well run private wealth portfolios.

 

How can wealthy families make their wealth last for many generations?

 

When I consider the families who are the most successful and how they have managed their wealth, whatever their definition of success, they have typically managed their family wealth using the same best practices and resources that were used to create the wealth in the first place.

 

The good news is that most wealth is created through a business enterprise. Someone invests capital, builds a business, creates value, jobs and wealth. Managing, protecting and nurturing private wealth requires a very similar skill set.

 

Statistics show that most wealth does not make it past two generations. What often happens is the family sells the business, makes the wealth liquid and gives it to someone else to take care of it because they feel they cannot. As a result, the learning stops.

 

What happens next? What goes wrong?

 

Some wealth managers throw big words and concepts at families, and it can seem daunting, but it is not overly difficult. It is actually more business common sense than it is touted to be.

 

For example, when running a company, there is a mission and a strategic plan. The same should apply for private wealth. That means understanding how much you are spending, putting the right professionals on the right activities and managing them, communicating with stakeholders and putting the right processes in place to achieve the company’s objectives. It should be exactly the same when managing private wealth.

 

How should they train the next generation of family leaders?

 

A family of wealth needs to educate the next generation of wealth owners as early as possible. There has to be a plan around what they can expect, what role they will play, and what they need to know to manage the family wealth. Some of that may be technical skills, on investing or budgeting, while others may be values-driven. If part of the wealth is to be used philanthropically, the best way to help the next generation is for the wealth creators of the family to start role modeling the desired behavior, perhaps by starting a foundation and putting aside money for that purpose.

 

To teach the technical skills, education is necessary around accounting, legal, tax or investing, to make sure the next generation of enterprise owners make the right decisions. The earlier they start honing these skills, the easier it will be for them when they get older. It is like learning a new language.

 

In a company, the top of the house coaches and mentors the next generation of managers – it should be the same in a family.

 

Contact: Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits Division

Tel: + 357 22 849 313

Email: press@marcusevanscy.com

About the Latin Private Wealth Management Summit 2013

 

This unique forum will take place at the Trump Ocean Club, Panama City, Panama, September 26-27, 2013. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on jurisdiction management, family governance, portfolio construction and risk management, and preparing the next generation.

 

For more information please send an email to info@marcusevanscy.com or visit the event website at http://latinpwm.marcusevans-summits.com/MariaElenaLagomasinoInterview

 

marcus evans group – investment sector portal

 

The Investment Network – marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations.

 

LinkedIn: www.linkedin.com/groups?gid=3937929&trk=hb_side_g

YouTube: www.youtube.com/MarcusEvansInvest

Twitter: www.twitter.com/meSummitsInvest

SlideShare: www.slideshare.net/MarcusEvansInvest

 

Please note that the Summit is a closed business event and the number of participants strictly limited.

 

About marcus evans Summits

 

marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, case studies, roundtables and one-on-one business meetings. For more information, please visit www.marcusevans.com

 

All rights reserved. The above content may be republished or reproduced. Kindly inform us by sending an email to press@marcusevanscy.com