Swiss Asset Management Day 2016 is hosted by the Department for Economic Affairs Canton Schwyz and Swiss Finance Institute.

Game Changers for Swiss Asset Management: Technologies, Methods & Alternative Investments

Thursday, 7 April 2016, 09:00 – 18:00 h Hotel Plaza, Seedammstrasse 3, CH-8808 Pfäffikon SZ Welcome to the Swiss Asset Management Day 2016

It is our great pleasure to technologies, methods, and alternative investments. welcome you to the 5th Swiss In brief, effective presentations, participants will Asset Management Day. encounter thought-provoking concepts, deepen their understanding of the field, and learn more about the triggers and solutions that will enable In 2016, the Swiss Asset Management Day is hosted them to bring asset management to the next level. by the Department for Economic Affairs Canton Schwyz and the Swiss Finance Institute. This strong Enjoy the conference, we look forward to meeting partnership offers a wealth of combined knowledge you in Pfäffikon SZ. and experience of organizing finance industry events. Best wishes, The first Swiss Asset Management Day took place in 2011. Since then, the event has become ’s leading asset management confe- Urs Durrer rence, recognized for vanguarding new ideas, and Office for Economy Canton Schwyz, Head Official has attracted large audiences of up to 500 parti- cipants including many decision-makers of the Prof. Paolo Vanini industry and senior executives from Switzerland Swiss Finance Institute, Head of Knowledge and abroad. Transfer and Academic Director e-Finance

The asset management industry stands on the cusp of a number of fundamental changes that will shape our future. This conference focuses on some of these game changers, in particular on Conference Programme Game Changers for Swiss Asset Management: Technologies, Methods & Alternative Investments

09:00 – 09:30 Registration & Refreshments 14:15 – 14:40 Risk-Based Investing—Latest Developments Dr. Jérôme Teïletche, Unigestion

09:30 – 09:40 Opening Remarks Moderator: Mr. Claude Baumann 14:40 – 15:00 Questions and Answers Dr. Jérôme Teïletche and Prof. Paolo Vanini

09:40 – 09:50 Welcome Address from the Host Mr. Kurt Zibung, Department for Economic 15:00 – 15:30 Coffee Affairs Canton Schwyz

09:50 – 10:20 Trends and Imperatives for the Alternative Investments— Asset Management Industry Dr. Christian Casal, McKinsey & Company Where to Invest?

15:30 – 15:55 Infrastructure—The Asset Class to Come? Technologies—The Game Changer Dr. Jérôme Jean Haegeli, Swiss Reinsurance Company

10:20 – 10:45 Driving Digitalization in Banking Mr. Marco Abele, Credit Suisse 15:55 – 16:20 Private Equity as the Leading Alternative? Mr. Pedro Antonio Arias, Amundi Asset Management 10:45 – 11:10 Digitization of Wealth Management and Automation of Wealth Management Advisory Dr. Florian Herzog, swissQuant Group 16:20– 16:45 Insurance-Linked Strategies Mr. Michael Stahel, LGT ILS Partners 11:10 – 11:35 Coffee 16:45 – 17:10 Data Science to Hedge Fund Performance Prof. Fabio Trojani, University of Geneva & 11:35 – 12:00 RegTech and the Cloud: Swiss Finance Institute A Match Made in Heaven Mr. Andrew Patrick White, FundApps 17:10 – 17:30 Swiss Alternative Funds Awards - Best Swiss Fund of Hedge Funds 12:00 – 12:30 Panel Discussion with Technology Presenters - Best Retail Fund of Hedge Funds Moderator: Mr. Claude Baumann - Best Swiss Hedge Fund - Best UCITS Hedge Fund 12:30 – 13:30 Lunch Mrs. Joanna Babelek, HedgePole Mr. Stefan Steiner, Crossbow Partners Methods—How to Invest Remains the Big Question Keynote Talk

17:30 – 18:00 Banks and Asset Management Firms: 13:30 – 13:40 The Competitive Advantages of Factor Investing Who will Move Center Stage? Prof. Paolo Vanini, Swiss Finance Institute &

Zürcher Kantonalbank Mr. Herbert J. Scheidt, Vontobel Holding Mr. Christian Staub, Blackrock Asset 13:40 –14:15 Views from Two Banks: Management - What’s the value proposition for your institution? Moderator: Mr. Claude Baumann - What are the key challenges? - What’s specific for Swiss institutions? - Outlook. 18:00 Cocktails Mr. Thomas Rose, UBS Asset Management Mr. Tom Leake, Deutsche Bank Moderator: Prof. Paolo Vanini

3 Registration & Information

Time From Pfäffikon’s train station the Hotel Seedamm Thursday, 7 April 2016, 09:00–18:00 h Plaza can easily be reached in 10 minutes on foot. A number of buses also run to the stop “Schweizer- Fee hof”, from which you can reach the Hotel Seedamm The attendance fee is CHF 250 and includes lunch, Plaza in 2 to 3 minutes on foot. refreshments, and cocktails. University students are entitled to a fifty percent reduction. Arriving by Car If you come by car, use “Seedammstrasse 3, 8808 Registration ” as the final destination in your GPS. Please register at www.sfi.ch/samd. Contacts Hosts Roman Morger Hosted by the Department for Economic Affairs Office for Economy Canton Schwyz Canton Schwyz and Swiss Finance Institute. Project Manager Economic Development Bahnhofstrasse 15 Conference Directors CH-6430 Schwyz Urs Durrer, Office for Economy Canton Schwyz, [email protected] Head Official, and phone +41 41 819 16 34 Prof. Paolo Vanini, Swiss Finance Institute, Head of Knowledge Transfer and Academic Theresia Büsser Director e-Finance. Swiss Finance Institute Knowledge Transfer Director Arriving by Public Transport Walchestrasse 9 Arriving by plane at , take the CH-8006 Zurich train S2 direction Ziegelbrücke. The journey to [email protected] Pfäffikon SZ takes 45 minutes. phone +41 44 254 30 80

Starting from Zurich’s main train station, travel time to Pfäffikon SZ is reduced to 30 minutes. Take a RegioExpress, train S2 or S25 to Pfäffikon SZ.

4 Keynote Speakers’ Profiles

Mr. Herbert J. Scheidt Mr. Christian Staub Herbert J. Scheidt is Chairman of the board of Christian Staub—Managing Director of Black- Directors of Vontobel, a global wealth and asset Rock—is country head for Germany, Switzerland, manager, since 2011. H. J. Scheidt joined Vontobel Austria, and Eastern Europe and a member of in 2002 as Chief Executive Officer and was elected the EMEA Executive Committee. Prior to joining a member of the Board of Directors in 2008. Before the firm in 2014, Mr. Staub was responsible for joining Vontobel he held various management PIMCO’s business in Switzerland and was head of positions at Deutsche Bank. Scheidt holds a BA and the Zurich office, which he had established in MA in Economics from the University of Sussex 2008. During his twelve years with PIMCO and its and an MBA from University of New York. Herbert parent Allianz Asset Management, Mr. Staub held J. Scheidt is a Member of the Board of the various clientfacing and corporate roles based Swiss Bankers Association and chairs the Steering in Munich, Newport Beach (US), and Zurich. He Committee Asset Management. started his career at UBS where he worked in equities research in Zurich, Singapore, and Hong Kong. Mr. Staub holds an MBA from Harvard Business School and a graduate degree from the University of St. Gallen (lic.oec.HSG). He is a CFA charterholder.

5 Speakers’ Profiles

Mr. Marco Abele Mr. Pedro Antonio Arias Ms. Joanna Babelek Mr. Claude Baumann

Marco Abele is Head of the Digital Private Bank, and Joanna Babelek founded HedgePole in 2004 and is responsible for leading the bank’s development is responsible for the company’s strategy and of a global, digital private banking experience. He business development. HedgePole supports finan- is based in Zurich. Abele joined Credit Suisse in cial institutions in hedge fund price collection, data March of 2006 from Deutsche Bank where he held maintenance, and middle office operations. Prior various management and project-related positions to this, Babelek was Head of Fund Services at RMF within the Corporate & Investment Banking division, Investment Products, before being responsible— in particular leading the Global Transaction Banking at MAN Group—for overseeing service providers for platform program. He began his career at Credit alternative products. She has also worked as a Suisse in Business Development PB COO. In 2007, risk management consultant for banks and wealth he took over the Segment Management function for managers. Babelek graduated from the Berlin the External Asset Management (EAM) department, School of Economics and Law with a Master’s and prior to his current role headed the global EAM degree in Finance. Business Management organization. Abele holds an Executive MBA from Duke University and degrees Claude Baumann is co-founder and editor-in-chief in Law Studies from the University of Munich and of Switzerland’s leading financial website finews.ch the University of Paris. as well as of finews.asia. He used to be an editor for Die Weltwoche, Finanz und Wirtschaft and Han- Pedro Antonio Arias is Global Head of Alternative delszeitung. Claude Baumann also co-founded Assets & MD at Amundi Asset Management. He the Swiss publishers Nagel & Kimche and launched oversees private equity, real estate, and infrastructure the business travel magazine Arrivals. He is the investments and co-manages private debt. He was author of several books on the banking industry, previously Deputy CEO in charge of international including «Robert Holzach – Ein Schweizer Bankier development and real estate at the French retail und seine Zeit», Verlag Neue Zürcher Zeitung, 2014. group Casino. Arias started his career in law, before moving to corporate and investment banking. He has been involved in M&A across Europe and LATAM, and was Co-Head of Restructuring for Europe at Rothschild & Cie.

6 Speakers’ Profiles

Dr. Christian Casal Dr. Jérôme Jean Haegeli Dr. Florian Herzog

Christian Casal is a director of McKinsey & Company Florian Herzog is a founding partner and the Chief and leads the firm’s Swiss offices in Zurich and Engineer of the swissQuant Group. Before taking Geneva. He led McKinsey’s EMEA Banking practice on this role, he was CEO of swissQuant Group from from 2007 to 2011 and also served as a member of 2009 to 2015. During his tenure as CEO, swiss- the Shareholders Council and the firm’s Global Quant Group grew to a head count of around 55 Board of Directors from 2009 to 2015. He joined and gradually developed its market positioning as McKinsey in October 1988 and has served clients a major provider of quantitative models, methods, primarily in the financial and services industries. services, and software in Switzerland and Europe He is a member of several organizations that pro- for the wealth management business. Herzog mote Switzerland’s interests, including Avenir positioned the swissQuant Group as the leading Suisse—Switzerland’s think tank for economic and company in the field of wealth management au- social issues. He is also a member of the boards tomation and digitization. For the last ten years, of Schweizer Berghilfe (Swiss Mountain Aid) and swissQuant Group has combined state-of-the-art the Lucerne Festival. methods in terms of industry best practice with new approaches from academia and modern software Jérôme Jean Haegeli is Managing Director—Head engineering. Herzog trained as an engineer and a of Investment Strategy at Swiss Re Group Asset mathematician at ETH Zurich, where he graduated Management. Haegeli formulates the overall invest- with Master’s degrees with honors and the ETH ment outlook for the AM branch of Swiss Re and Medal for an outstanding thesis. He holds a Master’s the asset class views for the global portfolio. He is degree in Science from Georgia Institute of Tech- a member of the IIF Market Monitoring Committee nology. In 2005, Herzog completed his doctoral and Principal Consultative Group and co-chairs the thesis at ETH Zurich in the field of stochastic control IIF’s Council of Asset and Investment Management for portfolio management. (CAIM) Working Group. Prior to joining Swiss Re in 2008, he had been an advisor on the Executive Board of the IMF in Washington DC and Senior Eco- nomist at the Swiss National Bank, UBS Warburg, and Julius Baer. Haegeli has been awarded a visiting fellowship in Economics by Harvard Univer- sity, and holds a PhD in Economics from the Uni- versity of Basel and an MSc Econ from the London School of Economics.

7 Speakers’ Profiles

Mr. Tom Leake Mr. Thomas Rose Mr. Michael Stahel

Tom Leake is the Global Head of the Equity Struc- Michael Stahel is Partner and Portfolio Manager turing Group at Deutsche Bank. Leake has 12 for insurance-linked strategies at LGT ILS Partners. years of experience in equity structuring and prior He is responsible for the main investment strategy to joining Deutsche Bank in 2009 worked at J.P. and chairs the investment committee. Prior to Morgan where he was a senior structurer focusing joining LGT in 2012 he served six years as head of on institutional clients. His current focus is on the Insurance-Linked Investments Department at assisting state pension funds, insurance companies, Clariden Leu and played a key role in LGT’s acquisi- and sovereign wealth funds implement risk premia tion of that investment boutique. He holds a BA portfolios. DB’s Equity Structuring Group is made in Economics from the Zurich University of Applied up of 40 professionals globally and provides solu- Sciences and an MBA in Corporate Finance from tions and structuring expertise to institutions, hedge the University of Rochester (New York). funds, asset managers, and retail and private banks. The group has particular expertise in structuring for insurance companies and pension funds. Leake holds an MA and MSci in Theoretical Physics from Cambridge University.

Thomas Rose is Managing Director at UBS Asset Management, responsible for the distribution offering globally. He is also Chairman of seven UBS Lux fund boards and member of the Board of Directors of UBS FMCH. Rose joined the Economics Department of the then Swiss Bank Corporation (SBC) in 1989. From 1995 on he worked in various functions in the investment, product, and distribu- tion area within UBS Asset Management. He holds a Master of Finance degree and is a CFA Charter Holder.

8 Speakers’ Profiles

Mr. Stefan Steiner Dr. Jérôme Teïletche Prof. Fabio Trojani

Stefan Steiner has 26 years of experience in finan- Fabio Trojani has been a full professor of Finance at cial markets. He worked for UBS from 1990 until the University of Geneva since September 2015, 2000 in Zurich, New York, and Tokyo. From 2000 and is a senior chair of Swiss Finance Institute (SFI) to 2007, Steiner managed the liquid portfolio of and an adjunct professor of Finance at Bocconi a large family office in Lucerne. In 2008, he joined University in Milan. He is on-leave full professor of Crossbow Partners AG, an independent investment Statistics at the University of Lugano (USI) and was advisor that specializes in tailor-made advice for a professor of Empirical Finance at the University sophisticated clients with institutional needs. of St. Gallen from 2004 to 2008. Trojani holds a PhD Steiner holds a Master’s degree in Economics and in Econometrics and Finance from the University Finance from the University of St. Gallen and is of Zurich and is the head of the SFI research project a CFA charterholder (1998). “Cross-Sections and Time Series of Asset Risk Premia”. His research covers topics in finance, eco- Jérôme Teïletche is Managing Director, Head of nometrics, and statistics—areas in which he has Cross Asset Solutions, and a member of the Exe- published widely in leading academic journals and cutive Committee at Unigestion, having joined the has directed a large number of research projects company in 2014. Teïletche began his career in for the Swiss National Science Foundation and 1999 as an economist in the Forecasting Directo- for Inquire Europe. From 2006 to 2008 he was the rate at the French Ministry of Finance in Paris. In chairman of the doctoral program in the Depart- 2001, he joined Natixis CIB as a strategist–econo- ment of Economics at the University of St. Gallen mist focusing on global asset allocation issues and and from 2009 to 2015 the director of the doctoral was appointed Senior Quantitative Analyst at the program in quantitative methods in the Faculty of Alternative Investment Division of Société Générale Economics at USI. Asset Management, Paris, in 2006. From 2008 on, Teïletche worked for Lombard Odier Asset Ma- nagement, Geneva, in the Institutional Investment Division as head of the Solutions Group, leading all multi-asset and single-asset systematic invest- ment strategies. He holds an MSc in International Finance and Economics and a PhD in Economics, both from Bordeaux University. Teïletche has taught at various universities and has authored contri- butions to numerous academic and practitioner journals and books.

9 Speakers’ Profiles

Prof. Paolo Vanini Mr. Andrew Patrick White Mr. Kurt Zibung

Paolo Vanini is Head of Knowledge Transfer at Kurt Zibung has been Governing Councillor in the Swiss Finance Institute and Adjunct Professor Canton Schwyz since 1996. From 1996 to 2004 of Banking at the University of Basel. He is respon- he was Chairman of the Education Department sible for structured products and cross assets at and since 2004 he has been in charge of the Zürcher Kantonalbank. Prof. Vanini’s research Department for Economic Affairs. Zibung was also focus is on investment, risk management and ban- President of the Cantonal Government from 2004 king topics. He has conducted extensive research to 2006. He serves as President of the Technical into operational risk and credit risk and is the au- University of Applied Sciences in and thor of numerous articles published in international as a member of the board of trustees of the Greater finance and financial economics journals. He holds Zurich Area. He holds a Master’s degree in Eco- a PhD in Mathematics from ETH. nomics from the University of St. Gallen.

Andrew Patrick White is the founder and CEO of FundApps, a company that provides cloudbased regulation monitoring to the finance industry. FundApps was recently voted on to the “FinTech50” —a list of 50 European businesses that are trans- forming financial services. Before FundApps, White created the monitoring software MIG21 at Aquin Components GmbH. He went on to become the Managing Director and Head of Business Develop- ment for Aquin International before exiting with a trade sale to State Street in 2008. Prior to Aquin, White worked in a compliance company in Zurich. He holds a degree in Computer Science, Linguis- tics, and German from Trinity College Dublin. FundApps was founded in 2010 from a spare bed- room above a bar in south London, but has since grown to employ 20 staff and currently services two of the world’s ten largest hedge funds, one of Europe’s largest asset managers, and one of the ten largest pension funds in the USA.

10 Canton Schwyz Swiss Finance Institute Canton Schwyz is an attractive business location Swiss Finance Institute (SFI) strives for excellence for financial firms, global headquarters, service in research and doctoral training, knowledge companies and manufacturing enterprises. Its transfer, and continuing education in the fields of proximity to the dynamic Zurich economic area, banking and finance, as befits Switzerland’s in- its highly-qualified and motivated workforce as well ternational reputation as a leading financial center. as its low tax burden for legal entities and private Created in 2006 as a public–private partnership, individuals offer entrepreneurs genuine business SFI is a common initiative of the Swiss finance advantages. The canton’s innovative Finance industry, leading Swiss universities, and the Swiss Cluster in Pfäffikon SZ has become a significant Confederation. part of Zurich’s financial community and has attracted a considerable number of asset mana- SFI Knowledge Center gers, private equity firms, hedge funds and spe- The SFI Knowledge Center promotes and supports cialized financial service providers. dialogue, information flow, and collaboration be- tween academia and the financial services industry. The center performs an active intermediary role in gathering and disseminating financial knowledge, helping find solutions to current problems, and identifying new trends in banking and finance. The center offers specific, targeted, and publicly available knowledge transfer activities, which in- clude breakfast, lunch, and evening seminars and one-day conferences that showcase new ideas and novel solutions. A big thank you to our generous Sponsors and Partners.

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