Welcome

45th IAFEI World Congress “INNOVATION” – The Quest for Competitiveness –

IAFEI- the International Association of the Financial Executives Institutes has entrusted ANDAF – Associazione Italiana Direttori Amministrativi e Finanziari, its Italian member, to organize the 45Th IAFEI World Congress. The Congress, albeit addressed to the 15.000 associates in the IAFEI federated associations, is an occasion extended to the wider community of finance, economy and business. This is the fifth time that our Association has been given this mandate after the Worldwide CFO Summits organized in Venice (1984), Florence (2004) and twice in Rome (1995 and 2010).

We have chosen Milan as the host city of the 2015 CFO Summit to give our participants the chance to visit EXPO, which has entrusted our event with his patronage together with the Comune di Milano. The Event has been granted the distinguished patronage of the President of the Italian Republic

The venue of the 2015 CFO Summit is Palazzo Mezzanotte, home of Borsa Italiana – our supporter – and is held in cooperation with the Gruppo24ORE, editor of a world’s leading financial newspapers. Recent turmoils in Europe are originated not only by the competitive gaps of the EC with the traditional US strong economy and the other aggressive emerging world economies, but by the its countries’ wide competitive gaps.

While country gaps in public spending and taxation need political action in aligning labor legislation, welfare and pension systems, it is up to each country, and to each and every economic subject, being public or private, in each country, to move forward in the never ending effort of being competitive.

Innovation is today imperative. We have combined a panel of distinguished economists and faculties with successful enterprises and managers to give voice to the need of Innovation in every public or private aspect of economic life.

After the welcome address by Deputy Mayor and Councillor for Finance, Budget and Local Taxes of the Municipality of Milan Francesca Balzani, the Summit will be officially open by a Representative of Italian Government.

The agenda opens with the theme of Innovation as the answer to the Quest for Competitiveness, a set of addresses by former EC Commissioner and Italian Prime Minister Romano Prodi on the dynamics of globalized economies, and Fabrizio Saccomanni, Director General Emeritus – Bank of Italy on Regulation and Growth. The section continues with James Hogan of Etihad – Alitalia and Michael Wale of Starwood Hotels & Resorts addressing on the customer expectations of global reach operators. The next section hosts a couple of successful managers in financial services, Marina Natale of Unicredit Group, the more international of Italian banking groups and Carlo Cimbri of UnipolSai, among the largest insurance groups in Europe: they will explore the impact of technology on such services, where with a click a client expects to be profiled and surveys, selects, buys and pays per use.

The balance of the section is a roundtable on the No-Land Economy, where opportunities and threats of the immateriality will be discussed. The continuation of Day one is dedicated to the Innovation trough Research and Service. One representatives from MIT, Alessandro Ovi join Roberto Battiston Chairman Italian Space Agency, Eugenio Sidoli of Philip Morris and Aldo Uva of Ferrero will discuss the application of technology research, how to leverage it for efficiency and to innovate business intelligence.

The morning of Day two is dedicated to the Metrics of Innovation, and the afternoon of the progresses of the IAFEI Technical Committees on innovative Treasury, management Controllership, Ethics – with the participation of Brunello Cucinelli – Taxation and on the IFRS development. Reinventing Industry is the theme dealt by Gerhard Dambach of Bosch, while Valerio Nannini of Nestlé addresses emerging global management models. The Metrics of Innovation’s session continues on Fiscal Policies and Debt sustainability, a roundtable moderated by Gregorio De Felice of IntesaSanpaolo Riccardo Barbieri Hermitte, Chief Economist of the Italian Ministry of Economics and Finance and Moritz Kraemer of Standard & Poor’s. Salvatore Rebecchini, Commissioner Italian Competition Authority, will discuss Freedom and Barriers, while Raffaele Jerusalmi of Borsa Italiana will address cross-border investments and capital markets with Navid Chamdia of the Qatar Investment Authority and banker Roberto Nicastro.

We hope you will benefit from the Summit and enjoy the visit to the EXPO Milan World Trade Fair.

The 45th IAFEI World Congress Organizing Committee