The European Financial Forum 2017
Written By Paul O'Reilly
The recent European Financial Forum, hosted by the FT and IDA, brought together a global gathering of speakers from various elements of the financial services spectrum. A number of interesting topics were covered by individual speakers and panel discussions, a number of which are very relevant to the times we find ourselves in.
Risk...then and now.
Naturally, Trump and Brexit (Tyrantosaurus-Brex anyone?) were frequently mentioned, however, the panel assembled to discuss global risk factors didn’t paint themselves into any corners committing to view as to the effect both would have on the world over the next few years, in terms of winners and losers. Admittedly, Trump had just been sworn into office 48 hours earlier and the UK’S Supreme Court that morning had given its judgment that UK parliament would get to vote on the triggering of Article 50. Maybe the events of the last few weeks would have firmed up their thinking!
An interesting point made by the CEO of a global insurance firm was that the risk factors that we have today are very different to his company’s long-term forecasts back in 2007. Back then, geopolitical risk, societal risk e.g. mass migration into Europe from the Middle East, and environmental change were not high on the list!
Risk = Volatility = Opportunity?
A later panel covered the impact of disruptive technology from a markets and consumer standpoint. The discussion moved to the attractiveness of Dublin as a location for firms engaging in shaking up the “slow to react” sectors across banking, payments, trading and as a development hub for these the underlying technologies.
The ability of national regulatory regimes to keep up with this increasingly frenetic area was also covered, with the view taken by all contributors that regulators will have to work closely with these disruptive companies in such a way that they are not encumbered by rules designed for more traditional institutions and industries.
Paul O'Reilly, Principal Consultant
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