Please note the schedule is subject to change.
Sunday, 12 May 2019
12:00–19:00
12:00–17:00
14:00–16:30
The Research Foundation Workshop for the Practitioner
The Research Foundation Workshop for the Practitioner draws from the work supported by the CFA Institute Research Foundation to help participants enhance their practical investment knowledge, understand and apply new research, and contribute to effective client service. This is an optional, free workshop for delegates of the 72nd CFA Institute Annual Conference.
Ted Aronson, CFA, Workshop Moderator
Founder and Managing Principal
AJO
Popularity: A Bridge between Classical and Behavioral Finance
Roger G. Ibbotson
Professor in the Practice Emeritus of Finance, Yale School of Management
Chairman, Zebra Capital Management, LLC
- Defining “popularity,” or how much a security is liked, apart from the fundamentals: The more investors like it, the higher the price but the lower the expected return.
- A new approach to asset pricing—the popularity asset pricing model (PAPM)—builds on the CAPM but includes additional investor preferences beyond risk aversion, such as liquidity and brand preference. These specific preferences are aggregated into security prices and are not arbitraged away.
- Preferences can be rational (classical) or emotional (behavioral), so the PAPM provides a bridge between classical and behavioral finance.
The Future of Investment Management
Ronald N. Kahn
Managing Director and Global Head of Systematic Equity Research
BlackRock
- Investment management is in flux, arguably more than it has been in a long time.
- This changing landscape includes seven key trends that are affecting the future of investment management.
- We are evolving toward a world with three distinct types of products, each with their own challenges and requirements for success.
14:00–15:00
Beyond the Numbers Sessions
Beyond the Numbers Sessions provide training in soft-skills in a variety of areas of personal development for investment professionals.
14:00–15:00
Crashed: How a Decade of Financial Crisis Changed the World
Adam Tooze
Kathryn and Shelby Cullom Davis Professor of History
Columbia University
Margaret E. Franklin, CFA, Moderator
President
BNY Mellon Wealth Management, Canada
- Ten years after 2008, how vulnerable is the global financial system today?
- What has changed in the global political and geopolitical scene, and what are the implications for investors?
- Could the rescue of 2008 be repeated?
14:00–15:00
The Organized Mind: Thinking Straight in the Age of Information Overload
Daniel Levitin
Founding Dean of Arts and Humanities, Minerva Schools at KGI
James McGill Professor Emeritus, McGill University
Rosanna Lockwood, Moderator
Broadcast Journalist and Presenter
- The information age is drowning us with an unprecedented deluge of data while we’re expected to make more—and faster—decisions about our lives than ever before.
- Discover how cognitive neuroscience research into attention and memory can be applied to the challenges of our daily lives.
- Obtain methods to regain a sense of mastery over the way we organize our homes, workplaces, and time.
- Learn how the latest findings in cognitive neuroscience can help all of us increase our well-being, productivity, and creativity.
15:00–15:30
Meet and Greets: Daniel Levitin and Adam Tooze
15:30–16:30
15:30–16:30
Psychology and the Good Life: What the Science of Psychology Says about How to Lead a More Flourishing Life
Laurie Santos
Head, Silliman College
Professor of Psychology, Yale University
Eelco Fiole, CFA, Moderator
Managing Partner
Alpha Governance Partners
- Introduction to the most popular class ever at Yale
- The most common misconceptions about what makes us happy
- The top seven tips for what really can help us live a more satisfying life
15:30–16:30
Investment Professional of the Future: New Research from CFA Institute
Helen Brand
Chief Executive
ACCA
Rebecca Fender, CFA
Head, Future of Finance
CFA Insitute
Paul Smith, CFA
President and CEO
CFA Institute
Roger Urwin, FSIP
Global Head of Investment Content, Willis Towers Watson
Co-Founder, Thinking Ahead Institute
- Changing roles: How trends in the industry will affect investment roles, including tech substitution and the gig economy, and differences by region
- Changing skills: What skills will be most in demand and how investment professionals can “future-proof” their careers
- Changing cultures: Expectations of the pipeline of investment professionals, building effective teams, and differentiating firm culture to attract the top talent
16:30–17:00
The Research Foundation Networking Reception and Book Signing
Join the CFA Institute Research Foundation for a networking reception and book signing with speakers from the Research Foundation Workshop.
16:30–17:00
17:00–18:15
Annual Conference Sunday Keynote: The Scientific Secrets of Perfect Timing
Daniel Pink
Author, When: The Scientific Secrets of Perfect Timing, Drive, and A Whole New Mind
Rosanna Lockwood, Moderator
Broadcast Journalist and Presenter
- Discover how to effectively confront the series of “when” decisions that apply in all aspects of our lives.
- Research from psychology, biology, neuroscience, and economics reveals that timing is a science, not an art.
- Understand how the hidden pattern of the day affects analytic and creative capabilities—and how simple work rearrangements can improve effectiveness.
- Learn how best to live, work, and succeed by identifying the timing for decision making.
18:30–19:30
The Forum: Women in Investment Management Networking Hour
Hosted by:
Heather Brilliant, CFA
Chair
CFA Institute Board of Governors
Diane C. Nordin, CFA
Vice Chair
CFA Institute Board of Governors
Sarah Maynard
Co-Vice Chair
CFA Society UK Inclusion and Diversity Network
18:30–19:00
18:30–19:30
Welcome Reception
Following the Sunday sessions, join us at the Welcome Reception. Enjoy local delicacies and network with delegates before heading out to explore all the dinner options the city has to offer!
This reception is included in the delegate fee. Dress is business casual.
Monday, 13 May 2019
08:00–18:00
08:00–16:45
08:00–09:00
08:15–08:45
The Forum: What Does the Investment Professional of the Future Look Like?
Rebecca Fender, CFA
Head, Future of Finance
CFA Institute
09:00–09:30
09:30–11:45
Plenary Sessions
Plenary Sessions feature global thought leaders who provide big picture perspectives, innovative insights, and broad outlooks on current issues of interest to the entire audience.
09:30–10:15
The New World (Dis)Order
Peter Zeihan
President and Founder
Zeihan on Geopolitics
Gillian Tett, Moderator
US Managing Editor
Financial Times
- The threats to the global order are not simply serious but are also mortal and unavoidable, setting the stage for at least two decades of global breakdown.
- Exploring the intersection between demography and finance—highlighting why something much worse than the 2007–09 financial crisis is right around the corner.
- Forecast how political evolutions in a host of countries are interacting with the Trump administration to remake the future of every country in the world.
10:15–10:45
10:15–10:45
The Forum: Career Development: Learning in Disruptive Times
Steve Horan, CFA
Managing Director, Credentialing
CFA Institute
Emily Dunbar
Managing Director, Member Value and Society Relations
CFA Institute
10:15–10:45
Showcase Presentation: Hacking the Future of Value
Sponsored by World Business Council for Sustainable Development
10:45–11:45
Reinventing Capitalism in the Age of Big Data
Viktor Mayer-Schönberger
Professor of Internet Governance and Regulation
Oxford Internet Institute, University of Oxford
Gillian Tett, Moderator
US Managing Editor
Financial Times
- Data isn’t just the new oil; it greatly enhances markets, thereby reshaping the economy.
- Data’s new role has profound implications for the financial services sector and for finance capitalism more generally.
- The biggest challenge for the data economy is structural, and competition rules are ill suited to address this challenge.
11:45–12:15
Meet and Greet: Viktor Mayer-Schönberger
11:45–13:30
12:15-12:45
Cybersecurity and Business Disruption
David Basin
Full Professor
ETH Zurich
This session will be presented in The Forum.
12:30–13:15
Sponsored Corporate Presentations
Sponsored Corporate Presentations offer a range of best practices, strategies, tools, tactics, and insights for successful investment management and financial analysis from senior-thought leaders at leading financial services firms.
eVestment: Institutional Trends—How Investors & Consultants Use Manager Data for Monitoring
Capital Suites 10/11/12 │ Level 3
Yoshimasa Satoh, CFA
Member, CFA Society Japan Board of Directors
Product Strategist, eVestment
- Best practices for investors and consultants for building a repeatable manager monitoring process
- Using alternative sources of data to support investment decisions
- Understanding where institutional assets are moving and what leading indicators are saying about shifting investor demand
Nuveen: Tomorrow’s World—A Real Estate Portfolio for the Future—Considering Sustainability, Demographics, and Technological Trends
Capital Suites 14/15/16 │ Level 3
Alice Breheny, Head of Research
Abigail Dean, Head of Sustainability
Jack Sibley, Technology and Innovation Strategist
Nuveen
- Nuveen experts discuss the technological, demographic, and sustainability trends that should be considered in building a resilient and future-proof real estate portfolio.
RBC Global Asset Management: Is Active Management Dead . . . or Alive?
Capital Suites 2/3/4 │ Level 3
Habib Subjally, ASIP
RBC Global Asset Management
- The sources of added value relied on by traditional active management have been industrialised by quantitative techniques.
- Fundamental active management has to evolve to stay relevant.
- This presentation explores how active managers can exploit idiosyncratic sources of return and how they can use quantitative techniques to capture alpha.
Refinitiv: Data Is Just the Beginning…
Capital Suites 7/8/9 │ Level 3
Tim Gaumer, CFA
Global Director of Fundamental Research
Refinitiv
- Tim Gaumer, CFA, will lead a discussion charting the journey from fundamental investment to 21st century data science.
- He will separate the hype from reality when it comes to artificial intelligence (AI) in investment and share concrete examples of AI in action.
- He will discuss the balance between traditional and alternative data and share best practice examples of how it’s feeding investment decision making.
13:00–13:30
Not Star Wars, Not Star Trek: The Future of Money
David G.W. Birch
Principal
15Mb
This session will be presented in The Forum.
13:15–13:30
13:30–15:15
Technical Workshops
Technical Workshops are interactive small group sessions designed to engage investment professionals in skill-building.
13:30–15:15
Progression beyond Regression: Using AI to Transform Traditional Analysis
Malcolm White, CFA
Portfolio Manager
Signature Global Asset Management – CI Investments
- Hands-on technical session focusing on how to leverage artificial intelligence (AI) to enhance analytic capabilities
- Introduction to a revolutionary AI technology called neural networks, followed by a walkthrough of how the technology can be applied to an actual financial prediction problem
- The solution will leverage the latest in cloud computing technology used by leading data science practitioners.
Note: Delegates are encouraged, but not required, to bring their laptop to follow along with demos and examples. Delegates will also need a Google account (e.g. gmail) to access cloud-based programs during the session.
13:30–15:15
Bring Your Best Brain and Bada$$ Self to All That You Do (Repeated Session)
Pete Ronayne
Senior Faculty Member
Center for Creative Leadership
- Transform how you understand and handle stress and pressure.
- Explore how tiny resilience habits can unleash atomic results.
- Curate your own set of resilience tactics and tools designed to bring your best brain and better self to all that you do.
This session will be on Monday from 13:30 to 15:15 and will repeat on Tuesday from 13:30 to 15:15.
13:30–14:15
Concurrent Practitioner Sessions
Concurrent Practitioner Sessions explore key topics with analysis and commentary on investment trends and strategies, financial technology, career skills, psychology and decision making, and Brexit.
13:30–14:15
Applying AI and Machine Learning to Risk Management and Risk Modeling
Mark Carey
Co-President
GARP Risk Institute
Mohammad Shoaib, CFA, Moderator
CEO
Al Meezan Investment Management Limited
- Understanding the limitations and opportunities of using machine learning modeling techniques in risk management
- The challenges of validating models built with machine learning techniques
- How AI and natural language processing can support better insights and decisions
Topical Track: FinTech
13:30–14:15
Global ETFs: Products and Trends
Deborah Fuhr
Managing Partner
ETFGI LLP
Rani Piputri, CFA, Moderator
Head of Automated Intelligence Investing
NN Investment Partners
- Discussion and analysis of exchange-traded funds (ETFs) and exchange-traded products (ETPs) being used by institutional investors and others
- Ways to use ETFs as a part of your investment strategy
- Advice for selecting an ETF for your portfolio
- Trends in ETFs: What the future may hold for robo-advisers, smart beta, ESG, thematic, active, China A shares, China bonds, crypto ETFs/ETPs
Topical Track: Global Opportunities
13:30–14:15
Principles of Responsible Investing: Putting Sustainability at the Heart of the Capital Markets
Graeme Griffiths
Chief Operating Officer
Principles for Responsible Investment (PRI)
Thomas A. Porter, Moderator
Head, CIPM Program
CFA Institute
- What does the data reveal about the myths and realities of ESG (environmental, social, and governance) and responsible investing?
- How do you assess the increasing number of capital market alternatives for sustainable investing, and what are the first steps for implementation?
- How should client reporting evolve to better reflect sustainability factors in an investment portfolio?
Topical Track: Sustainable Investing
13:30–14:15
Digital Financial Attention
Jane E. Henshaw
Head of Digital Research
Vanguard Center for Investor Research
Bob Stammers, CFA, Moderator
Director, Investor Education
CFA Institute
- Facebook and Amazon routinely study the attention customers pay to their websites; financial institutions should learn to do the same.
- In the era of “robo,” what can we learn from the emerging science of digital interactions with our finances?
- How can neuroscience help us understand the brain mechanisms of attention?
Topical Track: Capital Markets
13:30–14:15
The Perfect Financial Services CV
Victoria McLean
Founder and CEO
City CV
Heather Packard, Moderator
CPD Director, Business and Soft Skills
CFA Institute
- Your CV/resume is your future. Bridge the gap between where you are now and where you want to take your career.
- It’s marketing: What’s your brand? What’s your pitch? Get ready for action.
- Artificial intelligence and the ATS: 80% of jobs advertised online could be screened by a computer. Beat the bots to ensure you get over the first hurdle.
- Tell a story, start with a bang, and provide just the right amount of context to hook your audience—show don’t tell.
Topical Track: Career Development
14:15–14:30
14:30–15:15
14:30–15:15
Dynamic Currency Management: Yes Alpha, No Beta
Thomas Clarke
Partner, Portfolio Manager
William Blair
Eelco Fiole, CFA, Moderator
Managing Partner
Alpha Governance Partners
- Investors always seek diversifying opportunities, and today this search takes place in an environment of high equity valuations, low bond yields, and increasing interest rates in some locations.
- Geopolitical, trade, and other macro influences pose vulnerability to potential downside from taking on more capital market beta.
- The merits of dynamic currency investing as a source of macro diversification and positive real return are often underappreciated and underused.
- Amid new and alternative asset classes, dynamic currency management is a well-founded, liquid, and viable source of investment alpha.
Topical Track: Global Opportunities
14:30–15:15
Short- and Long-Term Risk, Measurement, and Technology
Jon Danielsson
Director of the Systemic Risk Centre, Department of Finance
London School of Economics
Barbara S. Pettit, CFA, Moderator
Head, Curriculum and Learning Experience
CFA Institute
- Identifying and understanding short- and long-run risks
- Why what we measure in terms of risk needs to evolve
- How artificial intelligence and technology may affect banks, regulators, and the stability of the financial system in ways we haven’t anticipated
Topical Track: Capital Markets
14:30–15:15
ESG Investment: From Process to Product
Amanda Young
Head of Global ESG Investment Research
Aberdeen Standard Investments
Susan Spinner, CFA, Moderator
Managing Director
CFA Society Germany
- Discussion of values-based investment options
- Strategies for integrating ethical considerations and sustainability, climate, and social impact issues into your investment process
- Managing environmental, social, and governance risks in your business model to ensure that shareholder value is protected and enhanced
- Thoughts on making money and making a difference
Topical Track: Sustainable Investing
14:30–15:15
Embracing the Potential of Artificial Intelligence
Thorsten Heymann
Global Head of Strategy
Allianz Global Investors GmbH
Lynn Raebsamen, CFA, Moderator
CEO
Swiss Vanquest AG
- Artificial intelligence is not science fiction but has the potential to reshape industries
- The power of AI integration: Human and machine
- AI integration and portfolio construction efficiency
Topical Track: FinTech
14:30–15:15
The Art of Business Influence
Mark Jeffries
Author, Keynote Speaker and Former Stockbroker at Merrill Lynch
Michael McMillan, CFA, Moderator
Director, Ethics Education
CFA Institute
- Discussion of the link between communication excellence and business success
- Focus on innovative communication, networking, and influence tools designed to accelerate your business success
- Focus on the three Cs of communication excellence, to the L-WAR (Listen, Watch, Anticipate, and React), and selling without selling to the BRAINS (Bridging, Rationalizing, Asserting, Inspiring, and Negotiating) of influence
Topical Track: Career Development
15:15–15:45
15:15–15:45
The Forum: The CFA Program Moves into the Digital Age
Barbara Petitt, CFA
Head, Curriculum and Learning Experience
CFA Institute
Chris Wiese
Head, Examination Development
CFA Institute
15:15–15:45
Showcase Presentation: Futures vs. ETFs—What’s the Optimal Instrument for Alpha Creation?
Sponsored by CME Group
15:45–16:30
15:45–16:30
Alternative Assets in 2023: What Does the Future Hold?
Amy Bensted
Head of Data Products
Preqin
Anish Chopra, CFA, Moderator
Managing Director
Portfolio Management Corporation
- Projections for alternative asset growth, covering private capital and hedge funds
- What should fund managers and investors be thinking about today to be part of the growth story of tomorrow?
- What will drive growth over the next five years, and how will technological innovation shape the alternative investment sector?
Topical Track: Global Opportunities
15:45–16:30
The Development of Digital Assets and Their Implications for Portfolio Construction
John Dwyer
Senior Analyst, Blockchain
Celent
Heidi Raubenheimer, CFA, Moderator
Head, Journal Publication
CFA Institute
- Digital assets as a new investable asset class
- A new, emerging capital market infrastructure
- The digital asset taxonomy and implications for portfolio construction
Topical Track: Capital Markets
15:45–16:30
Investing in Fintech—Analysis and Approaches
Carol Cheung, CFA
Senior Investment Associate
Cambridge Innovation Capital
Richard Clode, CFA
Portfolio Manager
Janus Henderson Investors
Reshma Sohoni
Co-Founder and Managing Partner
Seedcamp
Will Goodhart, Moderator
Chief Executive
CFA Society United Kingdom
- Thoughts on how to value fintech companies
- The right portfolio approach to fintech
- Where to look to find returns—innovative ideas and what is working now
Topical Track: FinTech
15:45–16:30
How ESG Factors Impact Corporate Valuations: Trends and Analysis
Jessica Alsford, CFA
Managing Director and Head of Global Sustainability Research
Morgan Stanley
Anne Cabot-Alletzhauser, Moderator
Head, Research Institute
Alexander Forbes Financial Services (Pty) Ltd
- Environmental, social, and governance (ESG) integration and its role in investment analysis
- Measuring the impact of ESG factors on company valuations
- ESG: Risk management or alpha generation?
Topical Track: Sustainable Investing
15:45–16:30
Optimizing Ourselves for Expansive Leadership
Sartaj Garewal
Founder and Director
Dynamic Presenting Ltd
Nick Bartlett, CFA, ASIP, Moderator
Director, CPD Competencies
CFA Institute
- Transforming our thinking to foster a growth mindset
- Toward conscious leadership—consciously responding as opposed to compulsively reacting
- A look at the 5 I’s of leadership, qualities and abilities that can be developed
Topical Track: Career Development
16:30–16:45
16:45–17:45
Plenary Session
Plenary Sessions feature global thought leaders who provide big picture perspectives, innovative insights, and broad outlooks on current issues of interest to the entire audience.
16:45–17:45
Disruption: The Asset Owner’s View
Emma Howard Boyd
Chair
Environment Agency (England and Wales)
Angelien Kemna
Non-executive Director and Member of the Audit Committee
AXA Group
Alison Tarditi
Chief Investment Officer
Commonwealth Superannuation Corporation
Mark Walker
Chief Investment Officer
Coal Pension Trustees Services
Roger Urwin, FSIP, Moderator
Global Head of Investment Content, Willis Towers Watson
Co-Founder, Thinking Ahead Institute
- The largest global asset owners discuss the markets
- How sustainability issues are changing investment policies and practices
- The changing expectations of investment managers
- Time horizons, technology, and the growing role of private markets
Tuesday, 14 May 2019
08:00–18:00
08:00–16:45
08:00–09:00
08:15–08:45
The Forum: AI and Big Data in the Future of Investment Management
Larry Cao, CFA
Director, Industry Research
CFA Institute
09:00–09:15
09:15–11:45
Plenary Sessions
Plenary Sessions feature global thought leaders who provide big picture perspectives, innovative insights, and broad outlooks on current issues of interest to the entire audience.
09:15–10:15
The Great Separation: Why the Future Is Bright for Emerging Markets Investors
Mark W. Yusko
CEO and Chief Investment Officer
Morgan Creek Capital Management, LLC
Brian D. Singer, CFA Moderator
Head of Dynamic Allocation Strategies Team
William Blair & Company
- Learn why the killer D’s of demographics, debt, and deflation will present a huge tailwind for emerging markets and a huge headwind for developed markets
- Discover why now is the time to build a foundation of your portfolios with BRICKs (Brazil, Russia, India, China, and South Korea)
- A discussion of value of value and why, just like in 2000, now is the time to sell what is expensive and buy what is on sale (emerging markets equities)
10:15–10:45
10:15–10:45
The Forum: Avoid Professional Landmines to Avoid “Disrupting” Your Career
Eddie Chan
Director, Professional Conduct
CFA Institute
10:15–10:45
Showcase Presentation: Connecting Investors and Businesses on the Financial Impacts of Sustainability
Sponsored by Sustainability Accounting Standards Board
10:45–11:45
The Investing Outlook in a Changing World: Redefining Trends and Opportunities
Anne Richards
CEO
Fidelity International
Francesco Guerrera, Moderator
Head of International, Barron’s Group
Publisher, Financial News
- Global market outlook – where are we going in the next 6 months?
- Trends and opportunities in fund management and in the brokerage business.
- Moving ahead in your career and how to promote gender balance in finance.
11:45–13:30
11:45–12:15
12:15-12:45
The Future of Investor Experience
Oliwia Berdak
Principal Analyst
Forrester Research, Inc.
This session will be presented in The Forum.
12:30–13:15
Sponsored Corporate Presentations
Sponsored Corporate Presentations offer a range of best practices, strategies, tools, tactics, and insights for successful investment management and financial analysis from senior-thought leaders at leading financial services firms.
Baillie Gifford: Squabbling over Returns Rather Than Creating Them—Why Does Our Industry Neglect Its Fundamental Purpose?
Capital Suites 10/11/12 │ Level 3
Stuart Dunbar
Partner
Baillie Gifford
- In recent years, we have seen a huge shift of assets from active to passive management amid a blizzard of regulatory challenges. This should come as no surprise to an active management industry that has largely failed its clients but enriched itself. What should we be doing about it?
- The investment industry is too big and too complicated, extracts too much money from society, and has significant agency problems. Our social license has all but disintegrated. How we can we align ourselves better to focus on achieving good outcomes for end clients and for society?
- The CAPM is nonsense as a basis for practical investing. The structure of returns is massively skewed to a few outsize winners. There is too much focus on the zero-sum game of trading securities in the secondary market and not enough on wealth creation. What can we do to refocus in practice?
FactSet: Optimizing Short-Term Turbulence and Long-Term Investment Success
Capital Suites 2/3/4 │ Level 3
Boryana Racheva-Iotova
Senior Vice President and Senior Director, Risk and Quantitative Analytics
FactSet
- New-generation meta-optimization approaches for executing efficient long-term strategies and investment mandates incl Wealth applications, ALM, Tactical Overlays and others.
- Next frontiers in optimization – deep dive into scenario-based, multi-period, multi-asset-class problems to incorporate fat-tails and behavioral biases that reveal how to manage short-term turbulence while preserving long-term goals.
- Embrace behaviorism: approaches to incorporate stress tests, views, and sentiment-based factors within the portfolio optimization and construction process based on FactSet’s award-winning thought-leadership technology.
S&P Dow Jones Indices: How the Transition from Benchmarking to Indexing Is Disrupting the Asset Management Process
Capital Suites 7/8/9 │ Level 3
Tim Edwards
Managing Director, Index Investment Strategy
S&P Dow Jones Indices
- Discover how to determine a valid benchmark and how that selection dictates the investment processes and performance outcomes.
- Learn how to differentiate between an investable index strategy and broad benchmarking and how each is best applied in asset allocation modeling and performance measurement.
- Understand what makes index management and portfolio management different and how indexing is transforming both manager selection and expected returns.
13:00–13:30
Neuroscience of Risk Management & Leadership
Susan Greenfield
CEO and Founder
Neuro-Bio Ltd
This session will be presented in The Forum.
13:15–13:30
13:30–15:15
Technical Workshops
Technical Workshops are interactive small group sessions designed to engage investment professionals in skill-building.
13:30–15:15
A Master Class on AI and Machine Learning for Financial Professionals
Sri Krishnamurthy, CFA
President
QuantUniversity
The use of data science and machine learning in the investment industry is increasing. Financial firms are using artificial intelligence (AI) and machine learning to augment traditional investment decision making.
In this workshop, we aim to bring clarity on how AI and machine learning are revolutionizing financial services. We will introduce key concepts and, through examples and case studies, will illustrate the role of machine learning, data science techniques, and AI in the investment industry.
Agenda:
In Part 1, we will discuss key trends in AI and machine learning in the financial services industry, including the key use cases, challenges, and best practices.
In Part 2, we will illustrate two case studies where AI and machine learning techniques are applied in financial services.
Case studies:
- Sentiment Analysis Using Natural Language Processing in Finance
In this case study, we will demonstrate the use of natural language processing techniques to analyze EDGAR call earnings transcripts that could be used to generate sentiment analysis scores using the Amazon Comprehend, IBM Watson, Google, and Azure APIs (application programming interfaces). We will illustrate how these scores can be used to augment traditional quantitative research and for trading decisions. - Credit Risk Decision Making Using Lending Club Data
In this case study, we will use the Lending Club data set to build a credit risk model using
machine learning techniques.
Note: Both case studies will use Python and cloud-based technologies, but Python/technical experience is not required to attend this workshop. Delegates are encouraged, but not required, to bring their laptop to follow along with demos and examples.
Who should attend:
- Fundamental and quantitative analysts, investment professionals, and portfolio managers new to data science and machine learning
- Financial professionals new to data-driven methodologies
- Machine learning enthusiasts interested in use cases in fintech and financial organizations
Additional reading:
13:30–15:15
Bring Your Best Brain and Bada$$ Self to All That You Do (Repeated Session)
Pete Ronayne
Senior Faculty Member
Center for Creative Leadership
- Transform how you understand and handle stress and pressure.
- Explore how tiny resilience habits can unleash atomic results.
- Curate your own set of resilience tactics and tools designed to bring your best brain and better self to all that you do.
This session will be on Monday from 13:30 to 15:15 and will repeat on Tuesday from 13:30 to 15:15.
13:30–15:15
Extended Sessions
Extended Sessions allow for a deeper exploration of investing topics relevant to investment professionals.
13:30–15:15
Valuation Considerations: Valuing Companies in Spite of Stock Price Bubbles and Market Anomalies
James Dow
Professor of Finance
London Business School
Neil Govier, CFA, Moderator
Director, CPD Content and Delivery APAC
CFA Institute
- Why bubbles are hard to detect
- Sum-of-the-parts valuation, value of future opportunities
- Siamese twins and different domiciles
- Governance and value
Topical Track: Valuation
13:30–15:15
Principles of Manager Due Diligence and Selection
Tom Brakke, CFA
Consultant
Author, The Research Puzzle
Phillip Sundquist, CFA, Moderator
Managing Director
Sundquist Advisory LLC
- Understanding and evaluating a manager’s organizational structure and culture
- Breaking down and understanding a manager’s investment process
- How to conduct an appropriately thorough due diligence and selection process
- Exploring manager incentives, capacity issues, and the impact of size
Topical Track: Asset Management
13:30–15:15
Leadership Insights: Developing Your Presence, Power, and Influence
Connson Locke
Senior Lecturer in Practice, Department of Management
London School of Economics
Randi Tolber, CFA, Moderator
Head, Global Society Relations
CFA Institute
- Find out what makes some people more influential than others.
- Learn tactics you can use to increase your leadership presence and influence.
- Gain key insights into the latest research on leadership, power, and nonverbal communication.
- Discover how psychological research can help you communicate with charisma and confidence and increase your circle of influence.
- Explore gender issues in the workplace that are relevant for both men and women to consider.
Topical Track: Psychology and Decision Making
13:30–15:15
Brexit in Flux: Implications, Possibilities, Resolutions
Michala Marcussen, CFA
Group Chief Economist and Head of Economic and Sector Research
Societe Generale
Thomas Mayer, CFA
Founding Director
Flossbach von Storch Research Institute
Sir Ivan Rogers
Former British Permanent Representative to the EU 2013-2017
Liam Halligan, Moderator
Economics Commentator
Telegraph Media Group
- Likely economic and geopolitical results of the Brexit delay, and what aspects of Brexit will present the biggest challenges for investors and policymakers?
- Is a smooth Brexit possible? Is no Brexit on the table?
- What are the political and cultural implications of the Brexit process to date, and how will the experience of Brexit shape future multilateral negotiations?
- What might post-Brexit trading arrangements look like, and what are the potential economic implications for the United Kingdom, the EU, and other trading partners?
Topical Track: Brexit
13:30–15:15
Global Private Wealth Management
Philip Marcovici
Principal
Offices of Philip Marcovici
Blair duQuesnay, CFA, Moderator
Investment Adviser
Ritholtz Wealth Management
- Global regulatory trends in tax transparency and compliance and the massive impact on private wealth management
- The evolving needs of today’s international wealth owners and the changing role of advisers in the decade ahead
- How advisers can best use trusts, insurance, and other tools of wealth management in meeting client goals
- Family retreats, family and family business governance, and best practices for today’s business and wealth owners
- Strategies for building a successful 21st century private wealth practice
- How tax systems have to and will change and reflections on political challenges, including Brexit
- The realities of income and wealth inequality and the responsibility of wealth and business owners and their advisers
Topical Track: Private Wealth Management
15:15–15:45
15:15–15:45
The Forum: Career Development: Learning in Disruptive Times
Steve Horan, CFA
Managing Director, Credentialing
CFA Institute
Emily Dunbar
Managing Director, Member Value and Society Relations
CFA Institute
15:15–15:45
Showcase Presentation: Disrupting Equity Derivatives Markets with Futures
Sponsored by CME Group
15:45–16:30
Concurrent Practitioner Sessions
Concurrent Practitioner Sessions explore key topics with analysis and commentary on investment trends and strategies, financial technology, career skills, psychology and decision making, and Brexit.
15:45–16:30
Stand Up and Be Counted: Wealth Management’s Necessary Responses to Technology Disruption and Changing Client Preferences
Sebastian Dovey
Entrepreneur, Investor, and Exited Co-Founder of Scorpio Partnership (An AON Group company)
Bob Dannhauser, CFA, Moderator
Head, Private Wealth Management
CFA Institute
- Why does it matter to have a positive response in challenging markets?
- How are emerging technologies disrupting the business of private wealth management?
- How is value being recalibrated, and what do current trends tell us about evolving client expectations?
- As advice is increasingly automated, how must the role of investment professionals evolve to maintain relevance?
Topical Track: Private Wealth Management
15:45–16:30
Rethinking Investment Management Fees, and the “Value for Money” Equation
Daniel Brocklebank, CFA
UK Director
Orbis Investments
Gerard Lee, CFA, Moderator
CEO
Lion Global Investors Ltd
- Are traditional management fee arrangements adequate to meet the needs of the evolving investment management industry?
- How can new approaches to management fees better align interests between investors and managers?
- Are refundable fee models a feasible innovation for the active management business, and how might they be implemented?
Topical Track: Asset Management
15:45–16:30
Applying Behavioral Finance to the Investment Process
Clare Flynn Levy
Founder and CEO
Essentia Analytics
Margaret E. Franklin, CFA, Moderator
President
BNY Mellon Wealth Management, Canada
- Why focusing on performance is missing the point
- How top managers are competing for survival of the fittest and why others are missing a trick
- How to mitigate behavioral bias in your own investment process
Topical Track: Psychology and Decision Making
15:45–16:30
Late Cycle vs. End Cycle: Building Multi-Asset Portfolios
Geraldine Sundstrom
Managing Director and Portfolio Manager
PIMCO
Brian D. Singer, CFA, Moderator
Head of Dynamic Allocation Strategies Team
William Blair
- Business cycle and macro environment considerations
- Implications across global capital markets
Topical Track: Valuation
15:45–16:30
The United Kingdom’s Role in an International Portfolio
Ian Harnett
Managing Director and Chief Investment Strategist
Absolute Strategy Research Ltd.
Neil Govier, CFA, Moderator
Director, CPD Content and Delivery APAC
CFA Institute
- For two years, the United Kingdom has been a “bet” rather than an investment; investors now need to decide whether it is a market to “rent” as an occasional source of alpha or to “own” as a long-run recovery story.
- The high level of policy uncertainty in the United Kingdom has biased equity valuations downward, and the equity markets are at risk from slower growth and higher inflation.
- The domestic economic outlook remains a challenge, with twin deficits challenging bonds and the pound sterling.
- The key problem for international investors is that the United Kingdom is becoming the “new Italy”—aging, slowing, indebted, and willing to devalue at the first sign of stress.
Topical Track: Brexit
16:30–16:45
16:45–17:45
Plenary Session
Plenary Sessions feature global thought leaders who provide big picture perspectives, innovative insights, and broad outlooks on current issues of interest to the entire audience.
16:45–17:45
The Global Markets: Disruptions, Opportunities, and Risks
Mohamed A. El-Erian
Chief Economic Advisor
Allianz
Liam Halligan, Moderator
Economics Commentator
Telegraph Media Group
- The changing nature of global growth
- Liquidity regime changes and central banks
- Baseline and balance of economic and financial risks
- Active investors regaining the upper hand
- The added complexity of risk mitigation
18:30–22:00
Networking Reception and Dinner
Join us for dinner and networking at Old Billingsgate. Set in a fantastic location on the Thames, a stone’s throw from such iconic landmarks as the Tower of London, Tower Bridge, the Shard, and the HMS Belfast, delegates will experience a fun and thrilling experience of modern day dynamic London, within the walls of what once was the world’s largest fish market in the 19th century.
This reception is included in the delegate fee. Dress is business casual.
Transportation to and from Old Billingsgate will be provided. Coaches will depart ExCeL London from 17:45 – 18:30; please gather at the Registration and Information desk on Level 0 to board. Return transfers from Old Billingsgate will run continuously from 20:30 – 22:00 and will stop at the following locations:
- Canary Wharf London Marriott Hotel Canary Wharf
- Crowne Plaza London Docklands (nearby Ibis London Excel Docklands and Novotel London ExCel)
- Excel East Coach Park (nearby Aloft London ExCel and Double Tree London ExCeL)
Additionally, there will be a taxi marshal on-site at Old Billingsgate for those who may have alternative destinations.
19:00–20:00
Wednesday, 15 May 2019
08:00–13:00
08:00–10:45
08:00–09:00
08:15–08:45
The Forum: ESG Development in Asia Pacific: Why Is It Creating Global Disruption?
Mary Leung, CFA
Head, Advocacy APAC
CFA Institute
09:00–09:15
09:15–12:45
Plenary Sessions
Plenary Sessions feature global thought leaders who provide big picture perspectives, innovative insights, and broad outlooks on current issues of interest to the entire audience.
09:15–10:15
Rethinking Capitalism: Challenging the Economy and Economic Theory
Mariana Mazzucato
Chair, Economics of Innovation and Public Value, University College London
Founder and Director, Institute for Innovation and Public Purpose
Margaret E. Franklin, CFA, Moderator
President
BNY Mellon Wealth Management, Canada
- Key ills affecting the private sector: Finance is not doing its job and industry is increasingly financialised
- Key ills affecting the public sector: The state is ill-equipped to confront the greatest challenges of our time—from health to climate change
- How both of these deficiencies are linked to problematic economic theory
- How to create an economy that is more inclusive, sustainable, and driven by mission-oriented innovation
10:15–10:45
10:15–10:45
The Forum: The Evolution of the GIPS Standards
Iain McAra
Director, Global Investment Performance Standards
CFA Institute
10:45–11:45
AI and the Future: Developments, Ethics, and Financial Transformation
Nick Bostrom
Professor, University of Oxford
Director, Future of Humanity Institute
Rumman Chowdhury
Global Lead for Responsible AI
Accenture Applied Intelligence
Ophir Gottlieb
CEO and Co-founder
Capital Market Laboratories
Rory Cellan-Jones, Moderator
Technology Correspondent
BBC News
- Artificial intelligence: What is on the horizon and R&D
- Integrating ethical behavior into the innovation life cycle
- Practical applications for finance: Algorithmic trading, neural learning and the financial markets, Forensic Alpha Model, Governance Risk Model, and more
11:45–12:45
Uncertainty in Europe: What’s Next for Policy, the Euro, and Prospects for Growth?
Lorenzo Bini Smaghi
Chairman of the Board of Directors
Societe Generale
Nejra Cehic, Moderator
Anchor, Daybreak Europe
Bloomberg Television
- How does the Brexit instability affect the European economic outlook, and what policy shifts should we expect from the EU in response?
- How can the United Kingdom maintain economic stability while in flux?
- Does the European Central Bank have sufficient tools to manage the current Brexit instability and any future downturn, and are negative rates here to stay?
- How should policymakers address excessive EU debt burdens and imbalances between the eurozone core and periphery?
