The Governance and Regulation of Financial Institutions
Lessons from the Crisis
Wednesday, 16th June 2010
Lessons from the Crisis
Wednesday, 16th June 2010
An academic conference to be held at the Madrid campus of the IESE Business School under the auspices of the Spanish Presidency of the EU
| 09.15-09.45 | Conference reception | |
| Welcome and Opening Remarks | ||
| 09.45-10.00 | Professor Jordi Canals, Dean, IESE Business School, University of Navarra, ECGI Board Member | |
| Session 1: Chaired by Marc Hertgen, Policy Officer, European Commission-DG Internal Market | ||
| 10.00-10.50 | Corporate Governance of Banks after the Financial Crisis – Theory, Evidence, Reforms (ECGI Law Working Paper 130/2009 - see paper) Peter O. Muelbert, Professor, Faculty of Law and Economics, and Director of the Center for German and International Law of Financial Services, University of Mainz Discussant: Paul Davies, Allen & Overy Professor of Corporate Law, University of Oxford |
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| 10.50-11.40 | Market freedom and the global recession (see paper) |
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| 11.40-12.00 | Coffee break | |
| Session 2: Chaired by Stéphane Rottier, Advisor, National Bank of Belgium | ||
| 12.00-12.50 | Boards of Banks Around the World (see paper) Daniel Ferreira, Reader in Finance, London School of Economics Discussant: Maria Gutierrez, Associate Professor, Universidad Carlos III de Madrid |
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| 12.50-13.40 | Host's Dilemma: Rethinking EU Banking Regulation in Light of the global Crisis (see paper) Katharina Pistor, Michael Sovern Professor of Law, Columbia Law School Discussant: Dr Alessio Maria Pacces, Associate Professor of Law and Economics, Erasmus School of Law |
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| Lunch | ||
| 13.40-15.00 | Guest speaker Michael Bray, Partner, Clifford Chance, London |
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| Session 3: Chaired by Marco Becht, Professor of Finance and Economics, Université Libre de Bruxelles (ULB) | ||
| 15.00-15.40 | Bank CEO Incentives and the Credit Crisis (ECGI Finance Working Paper 256/2009 - see paper) Ruediger Fahlenbrach, Swiss Finance Institute Assistant Professor of Finance, EPFL (Ecole Polytechnique Fédérale de Lausanne) |
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| 15.40-16.20 | On Bankers’ Pay and Risk-Taking Based on Wages of Failure: Executive Compensation at Bear Stearns and Lehman 2000-2008 (ECGI Finance Working Paper 287/2010 - see paper) and Regulating Bankers' Pay (see paper) Holger Spamann, Lecturer on Law and Executive Director, Program on Corporate Governance, Harvard Law School |
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| 16.20-16.50 | Coffee break | |
| 16.50-17.30 | Yesterday’s Heroes: Compensation and Creative Risk-Taking (see paper - revised May 2010) Jose Scheinkman, Theodore A Wells '29 Professor of Economics, Princeton University |
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| 17.30-18.00 | Session discussant: Tom Kirchmaier, Lecturer, MBS & FMG/LSE | |
| Session 4: Policy Panel | ||
| 18.00-19.00 | Panel Xavier Vives, Professor of Economics and Financial Management, IESE Business School, University of Navarra Guido Ferrarini, Professor of Business Law and Capital Markets Law, University of Genoa |
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| Closing remarks | ||
| 19.00-19.15 | Jose Manuel Campa, Secretary of State for Economic Affairs, Ministry of Economy and Finance, Spain | |
| 19.15-20.30 | Post-conference cocktails and tapas | |
The organisers are most grateful for the sponsorship of this conference by leading international law firm Clifford Chance
The conference is co-funded under the grant:
Politics, Economics and Global Governance: The European Dimensions, PEGGED Collaborative Projects (CPs) Funded under the EU's Seventh Framework Programme, Contract no. SSH-CT-2008-217559
Politics, Economics and Global Governance: The European Dimensions, PEGGED Collaborative Projects (CPs) Funded under the EU's Seventh Framework Programme, Contract no. SSH-CT-2008-217559
