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Event Detail

Chinese Shadow Banking (Ended)


A Valuable New Source of Funding, A Replay of US Subprime Lending, or Somewhere In Between?

Date, Time, and Location:
Wednesday, November 19, 2014 (add this event to your Outlook Calendar)
3:30 pm - 6:00 pm
The Conference Center, 1 N Wacker Drive, Chicago, IL  60606   (Driving Directions)

Program Description:
While Chinese economy has continued to grow at 7-8% per annum, Chinese finance is undergoing dramatic changes which are not yet widely understood. In response to the global financial crisis in 2008-2009, a flood of credit was created to underwrite robust investment growth. Recently to prevent fears of overcapacity, Chinese policymakers began to engineer an economic slowdown through restrictions on formal lending to reform and re-balance the economy towards consumption. However, to date, credit continues to fuel investment through the "shadow banking" sector. This rapid credit growth has raised concerns about future defaults and their macro impact on the Chinese and global economy.

Join us as three veteran analysts of China's economy present both the facts and their differing opinions on the evolution of the Chinese shadow banking system, and its importance in the Chinese and global financial systems.

You Will Learn:

  • The important details of the Chinese shadow banking system
  • The role of Trust products in an investor's portfolio
  • The macro economic impact shadow credit growth has had on the Chinese economy
  • The potential of future Trust defaults derailing the Chinese economy and spreading global contagion
  • The Chinese government's policy options and regulatory architecture

Panelists:
Patrick Chovanec - Chief Strategist, Silvercrest Asset Management
Andy Rothman - Investment Strategist, Matthews International Capital Management, LLC

Moderator:
Evan Feigenbaum - Vice Chairman, The Paulson Institute

Partner Organizations:
Chicago Council on Global Affairs
Chinese Finance Association of America
The Paulson Institute

Fee*:
Members - $65 $45 or FREE with Function Ticket
Partner Organizations - $65 $45
Student-Members - $65 $20
Non-Members - $65
Reserved VIP table - $360 (8 guests, company name on table, contact office directly)
(member pricing underwritten by CFA Chicago)

CFA Institute Qualified Activity: Eligible for 2 credit hours

Attire: Business Casual

Menu: Refreshments and light appetizers

Registration: Online

Agenda:
3:30pm - 4:00pm: Registration and Networking
4:00pm - 6:00pm: Program

Hosted by: Education Advisory Group

Panelists:

Chovanec Patrick Chovanec is Managing Director and Chief Strategist at Silvercrest Asset Management, which manages $16.6 billion on behalf of wealth families and selected institutions. He is also an Adjunct Professor at Columbia University's School of International and Public Affairs (SIPA). His insights into the global economy are widely featured in the media. He appears frequently on CNBC, Bloomberg, CNN, Fox Business, NPR, and BBC, and is frequently quoted in the Wall Street Journal, Financial Times, Washington Post, BusinessWeek, Foreign Policy, and other prominent news sources. Before joining Silvercrest, Patrick was an Associate Professor of Practice at Tsinghua University's School of Economics and Management in Beijing, where he also served as Chairman of the Public Policy Development Committee for the American Chamber of Commerce in China, and advised numerous governments, investment funds, and Fortune 500 corporations on the Chinese economy. Previously, he worked for a series of private equity funds focused on emerging markets, and served as director of Institutional Investor's Asia Pacific Institute, based in Hong Kong, and its Global Fixed Income Institute, based in London. Before heading to Asia, Patrick worked in Washington, DC, as an aide to political strategist William Kristol and to now-Speaker of the House John Boehner. Patrick holds an BA in Political Economy from Princeton University and an MBA in Finance and Accounting from the University of Pennsylvania's Wharton School, where he graduated as a Palmer Scholar. He is a Certified Public Accountant (CPA).

Rothman Andy Rothman is an Investment Strategist at Matthews International Capital Management, LLC. He is principally responsible for developing research focused on China's ongoing economic and political developments while also complementing the broader investment team with in-depth analysis on Asia. In addition, Andy plays a key role in communicating to clients and the media the firm's perspectives and latest insights into China and the greater Asia region. Prior to joining Matthews in 2014, Andy spent 14 years as CLSA's China macroeconomic strategist where he conducted analysis into China and delivered his insights to their clients. Previously, Andy spent 17 years in the U.S. Foreign Service, with a diplomatic career focused on China, including as head of the macroeconomics and domestic policy office of the U.S. embassy in Beijing. In total, Andy has lived and worked in China for more than 20 years. he earned an M.A. in public administration from the Lyndon B. Johnson School of Public Affairs and a B.A. from Colgate University. He is a proficient Mandarin speaker.

E. Feigenbaum Evan A. Feigenbaum
Evan A. Feigenbaum is Vice Chairman of The Paulson Institute at the University of Chicago, a nonpartisan "think and do" tank established in 2011 by Hank Paulson, the former U.S. Treasury Secretary and CEO of Goldman Sachs. He is also Nonresident Senior Associate for Asia at the Carnegie Endowment for International Peace. He leads the Paulson Institute's He leads the Paulson Institute's research, policy, and investment-related programs, including a small think tank focused principally on the Chinese economy. Initially an academic with a PhD in Chinese politics from Stanford University, his work has since spanned government service, think tanks, the private sector, and three regions of Asia - East, Central, and South. From 2001 to 2009, he served as Deputy Assistant Secretary of State for South Asia (2007-09), Deputy Assistant Secretary of State for Central Asia (2006-07), Member of the Secretary of State's Policy Planning Staff with principal responsibility for East Asia and the Pacific (2001-06) under Secretaries Colin Powell and Condoleezza Rice, and as an advisor on China to Deputy Secretary of State Robert B. Zoellick, with whom he worked closely in the development of the U.S.-China senior dialogue. During its intensive final phase from July to October 2008, he co-chaired the coordinating team charged with completing the U.S.-India civil nuclear initiative. He negotiated agreements with the governments of Kazakhstan and Turkmenistan, and also has extensive policy experience with North and South Korea, Japan, and Southeast Asia. He received three individual and two group Superior Honor Awards from the State Department. Outside of government, he has been Senior Fellow for Asia at the Council on Foreign Relations; head of the Asia practice group at Eurasia Group, a leading political risk consultancy, working principally with financial institutions and corporate clients; and taught at Harvard University and the U.S. Naval Postgraduate School. His most recent monograph is The United States in the New Asia.

*Special Notes Regarding Fees:
Regular, Candidate, and Affiliate Members may apply function tickets as payment for Non-member or Student-Member. Credit card required to guarantee ALL reservations except for reservations using Function Tickets. Day-of-event registrations accepted on-site only if applicable and space available. There is a $5 surcharge for walk-ins. Visa, MasterCard, American Express, Discover and Diners Club are accepted. Cancellations accepted until 5:00 pm, Nov. 13.

Passport Program
Members of any CFA society may attend at the CFA Chicago member rate. If you are only a member of CFA Institute, you do not qualify for the society member rate.

CFA Institute CE Qualified Activity
This program qualifies for credit under the guidelines for the CFA Institute Professional Development Program.

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