Strategic Responses to the Current Crisis for Decision Makers

This report contains the key findings from the Banking Crisis Strategic Review Retreat held in Singapore on 4-5 December 2008. The special retreat was organised by The Banking Academy for senior decision makers to review the banking crisis and seek clarity on potential strategies moving forward in 2009 and beyond. This Review was intended to bring together bankers from across Asia, as well as representatives from supporting industries, to discuss key elements that will decide the performance of the wider banking sector and specific banks in the region.

Participants included senior management, advisors and heads of business and operational lines from various regional and international institutions such as the FDIC, Bank of Spain, Bank of America, Standard Chartered, United Overseas Bank, Muslim Commercial Bank, Bank Rakyat Indonesia, Korea Exchange Bank, Andhra Bank, Metrobank, McKinsey, KPMG, Sun Microsystems, Waylion, the Council on Foreign Relations and The Asian Banker.

The leading global players who attended the Retreat either in person or through tele-conference to provide their perspectives on their respective areas of expertise, include Dr Thierry Apoteker, managing director, TAC & former chief economist, Banque Indosuez, Mr John Bovenzi, chief operating officer, Federal Deposit Insurance Corporation, Mr Vernon Hill, co-chairman, Bankstocks.com & former CEO, Commerce Bancorp, Mr Jose-Maria Roldan, director-general of banking regulation, Bank of Spain, Dr Brad Setser, fellow, Council on Foreign Relations & former director, US Treasury and Mr Simon Topping, principal, KPMG & former executive director, banking policy, HKMA. They contributed greatly to the dialogue as will be seen in this report.