Keynote Speech by Sir Howard Davies
Chairing a Bankosaurus: Has the Meteor Landed for Banks, or Can they Evolve and Survive?
Mr Ravi Menon, Managing Director of Monetary Authority of Singapore
Dean and Stephen Riady Distinguished Professor in Finance and Strategic Management, National University of Singapore and President, Asian Bureau of Finance and Economic Research (ABFER)
Program is subjected to change. Updated on 9 May 2018.
Guest of Honor
Mr Ravi Menon
Managing Director, Monetary Authority of Singapore
Ravi Menon has been Managing Director of the Monetary Authority of Singapore (MAS) since 2011. The MAS conducts monetary policy, manages the official foreign reserves, supervises the financial sector, and develops Singapore as a financial centre.
On the international front, Mr Menon is a member of the Financial Stability Board (FSB) Steering Committee. He chaired the FSB Standing Committee on Standards Implementation during 2013-2017, the International Monetary and Financial Committee (IMFC) Deputies Meetings during 2011-2015, and the APEC Senior Officials Meetings in 2009.
Mr Menon was Permanent Secretary at the Ministry of Trade & Industry (2007-2011), where he led the ministry’s work in economic strategy; energy policy; research and development; and international trade. Mr Menon was Deputy Secretary at the Ministry of Finance (2003-2007), where he was responsible for fiscal policy and government reserves.
Mr Menon began his career at MAS in 1987. During his 16 years in MAS, he was involved in monetary policy; econometric forecasting; banking regulation and liberalisation; and integrated supervision of complex financial institutions.
A recipient of the Public Administration Medal (Gold), Mr Menon has served on boards in the public, private, and people sectors. He was Chairman of the Singapore Co-operation Enterprise; Deputy Chairman of the Central Provident Fund Board; and a board member of the Housing and Development Board; Singapore Totalisator Board; Agency for Science, Technology, and Research; Civil Service College; and National Research Foundation. He was also on the board of directors of DBS Bank, the largest bank in Southeast Asia. Mr Menon is currently Chairman of the Institute of Banking and Finance, and he serves on the board of trustees of the Singapore Indian Development Association, a community volunteer group.
Mr Menon holds a Master's in Public Administration from Harvard University and a Bachelor of Social Science (Honours) in Economics from the National University of Singapore. A two-time winner of the Prime Minister's Book Prize, Mr Menon was a prefect and scout leader at Raffles Institution where he had his secondary education.
Sir Howard Davies
Chairman of the Royal Bank of Scotland
Council Member of ABFER
Sir Howard Davies was appointed Chairman of the Royal Bank of Scotland on 1 September 2015. Previously, Howard was Chairman of the Phoenix Group between October 2012 and August 2015. He chaired the UK Airports Commission from 2012-15 and was the Director of the London School of Economics and Political Science from 2003 until May 2011. Prior to thatappointment Howard chaired the UK Financial Services Authority then the single regulator for the UK financial services sector, from 1997 to 2003.
Howard was the Deputy Governor of the Bank of England from 1995-97, after three years as the Director General of the Confederation of British Industry. Earlier in his career he worked in the Foreign and Commonwealth Office, including two years as Private Secretary to the British Ambassador in Paris, the Treasury, McKinsey and Co, and as Controller of the Audit Commission.
Howard has been a Professor of Practice at the French School of Political Science in Paris (Sciences Po) since 2011. He teaches courses in finance regulation and central banking to master’s students.
Howard also chairs the Risk Committee at Prudential plc, whose board he joined in 2010. He is a member of the Regulatory and Compliance Advisory Board of Millennium Management LLC, a New York-based hedge fund. He has been a member of the International Advisory Council of the China Banking Regulatory Commission since 2003 and in 2012, was appointed Chairman of the International Advisory Council of the China Securities Regulatory Commission. Previously Howard was an independent Director of Morgan Stanley Inc. for 11 years, from 2004 to 2015 and earlier in his career was a Non-Executive Director of GKN plc from 1989-95.
He was a Trustee of the Tate Gallery from 2002-2010 and Chair from 2009-10. He was a director of the Royal National Theatre from 2011 to 2015, when he left to chair the London Library. He is also the patron of Working Families, a charity which promotes family-friendly working practices.
Howard has published five books focused on the financial markets and regularly writes for The Financial Times, Times Higher Education, Project Syndicate and Management Today.
He was educated at Manchester Grammar School, Merton College, Oxford and Stanford Graduate School of Business.
Ms Teo Swee Lian (Moderator)
Non-executive and independent Director, Singtel
Council Member of ABFER
Teo Swee Lian is a non-executive and independent Director of AIA Group Ltd and Avanda Investment Management Pte Ltd. Swee Lian is also a member of the Board of Directors of Dubai Financial Services Authority, United Arab Emirates, a member of the Governing Board of the Duke-NUS Medical School in Singapore, a member of the Corporate Governance Council formed by the Monetary Authority of Singapore (MAS) and a council member of the Asian Bureau of Finance & Economic Research of National University of Singapore Business School.
Swee Lian was Special Advisor in the Managing Director's Office at the MAS until she stepped down in early June 2015. Prior to that, she was the Deputy Managing Director in charge of Financial Supervision at the MAS, where she oversaw macroeconomic surveillance, regulation and supervision of the banking, insurance and capital markets industries in Singapore. During her time with MAS, she also worked in reserves management, development, external relations and strategic planning. Swee Lian was also a member of the Singapore Exchange Diversity Action Committee.
Swee Lian was awarded the Public Administration Medal (Gold) (Bar) at the Singapore National Day Awards 2012. She holds a B. Sc (First Class Honours) in Mathematics from Imperial College, London University and a M. Sc in Applied Statistics from Oxford University.
Professor Bernard Yeung
Dean and Stephen Riady Distinguished Professor in Finance and Strategic Management, National University of Singapore
President, Asian Bureau of Finance and Economic Research (ABFER)
Bernard Yeung is the Dean and Stephen Riady Distinguished Professor in Finance and Strategic Management and President of the Asia Bureau of Finance and Economic Research at National University of Singapore (NUS) Business School. Before joining NUS in June 2008, he was the Abraham Krasnoff Professor in Global Business, Economics, and Management at New York University (NYU) Stern School of Business. He has also served as the Director of the NYU China House, the honorary co-chair of the Strategy Department of the Peking University Guanghua School of Management. From 1988 to 1999, he taught at the University of Michigan and at the University of Alberta from 1983 to 1988.
Professor Yeung has published widely in academic journals covering topics in Finance, Economics, and Strategy; his writing also appears in top-tier media publications such as The Financial Times, Economist, and The Wall Street Journal.
He has also won several scholarly honours and awards for academic excellence, including the Irwin Outstanding Educator Award (2013) from the Business Policy and Strategy (BPS) division of the Academy of Management and Teaching Excellence Awards in NYU’s Stern School of Business and University of Michigan’s Ross School of Business. He is an elected Fellow of the Academy of International Business.
Professor Yeung is a member of the Social Science Research Council (SSRC) in Singapore. He was a member of the Economic Strategies Committee in Singapore (2009) and also a member of the Financial Research Council of the Monetary Authority of Singapore (2010 -2013).
Professor Yeung sits on the 3rd Advisory Board of the Antai College of Economics and Management at Shanghai Jiao Tong University, the Advisory Council of the Economics and Management School of Wuhan University, and an independent Non-executive Director of the Bank of China (BOC) Aviation Limited.
Professor Yeung received his Bachelor of Arts in Economics and Mathematics from the University of Western Ontario and his MBA and PhD degrees from the Graduate School of Business at the University of Chicago.