PRESS RELEASE: Charles Millard, Former Director of Pension Benefit Guaranty Corporation speaks openly regarding risk management strategy at the U.S. Pensions Summit hosted by marcus evans
The topic of risk was the focus of the discussion as Charles Millard addressed his peers at the U.S Pensions Summit, Boca Raton Resort and Club, Boca Raton, FL. He opened the line-up of keynotes that also featured Dr Alan Greenspan, Chairman, The Federal Reserve System (1987-2006). Focusing on the much-debated strategy implemented by the Pension Benefit Guaranty Corporation’s Board, Mr. Millard discussed the mitigation of risk and the value of a long-term plan.
In his opening statements Mr. Millard called the current economic environment a ‘historic opportunity’ for PBGC to implement a long–term policy and later concluded that the policy would have trounced average returns for 2008 if it had been implemented in that calendar year. Further, he believes that the new policy gives the PBGC the best chance to avoid congressional bailout and admonished critics who fault the effects of the policy which has not yet been implemented.
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PRESS RELEASE: The Investment heavyweights weigh in on the state of the industry at the Foundations & Endowments Investment and U.S. Pensions Summits.
The leaders within the investment industry gathered at the Boca Raton Resort and Club for the flagship events in the marcus evans investment series - Foundations & Endowments Investments and U.S. Pensions Summits. Ushering the delegation into the amazing line-up were Chairpersons Zvi Bodie, Professor of Finance and Economics at the Boston University School of Management and Richard W. Slocum, Director of Private Investments, Robert Wood Johnson Foundation. In his later presentation entitled Returning to a New Equilibrium in the Private Market, Mr. Slocum looked at the state of the Private Equity and made suggestions for market stabilization. He suggests that the healing process will include a reduction in fund sizes, a pick up in the secondary market and continued capital migrating to credit.
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PRESS RELEASE: Dr Alan Greenspan keynotes the marcus evans Investment Series flagship events
marcus evans hosted the leaders in the investment industry as they met to discuss key concerns at this year’s Foundations & Endowments Investment and US Pensions Summits. The largest organizations and funds in North America including Pension Benefit Guaranty Corporation, CalPERS, Harvard Management Company, Inc., and the Robert Wood Johnson Foundation were represented at this unique, three-day event, which features conference sessions, panel discussions, one-on-one meetings and a host of networking activities.
The highlight of the event however was keynote Dr Alan Greenspan whose session gave the audience the opportunity to have an open conversation about the world economy. Through an in-depth question and answer session Dr Greenspan gave his views on what factors caused the economic crisis to occur, and what it will take for the economy to recover.
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ARTICLE: MAPPING THE MIND OF MONEY MAKERS
When the Société Générale ‘rogue trader’ scandal broke out, questions were immediately raised about its impact on the global financial scene. Some analysts tried to assess whether his actions directly contributed to stock market turmoil at the time, or influenced the Fed’s decision to cut interest rates. Pandora’s Box was wide open, a series of high-profile financial institutions also revealed huge losses and experts talked of a looming recession.
But Jérôme Kerviel’s endeavours raised other interesting questions. If reports that he didn’t personally profit from his trades are in fact true, what could possibly have motivated him to engage in activities resulting in a total loss of USD 7.6 billion (EUR 6 billion) for the bank? If not for the money, why?
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