GMM Operations and Technology Fund Directors Workshop Mutual Fund Compliance Programs Conference
2019 GMM Planning Committee Chair Yie-Hsin Hung, CEO of New York Life Investment Management, welcomed attendees to ICI’s 61st annual General Membership Meeting and reflected on how competition, technology, and global thinking are redefining the fund industry.
ICI Chairman George C. W. Gatch, CEO of global funds management for JP Morgan Asset Management, spoke about the unstoppable path to globalization in the fund industry and the inevitable integration of world economies.
Joseph C. Tsai, Alibaba Group cofounder and executive vice chairman (right), spoke with ICI President and CEO Paul Schott Stevens on technological innovations and how the United States and China can ensure a relationship with mutual advantages.
SEC Chairman Jay Clayton (right) engaged in a lively regulatory session with ICI President and CEO Paul Schott Stevens on competition in asset management and environmental, social, and governance (ESG) investing.
Sarah Ketterer (left), cofounder and CEO of Causeway Capital Management, moderated a panel on challenges in asset management at GMM’s leadership session. The panel also featured (from left) Martin Flanagan, president and CEO of Invesco; and Joseph A. Sullivan, chairman and CEO of Legg Mason.
T. Neil Bathon (left), managing partner of FUSE Research Network LLC, moderated a discussion that explored varying paths for success of investment firms. Also on the panel were (from left) Kenneth Worthington, equity analyst—brokers, asset managers, exchanges at JP Morgan; Sandy Bolton, managing director and head of managed investments at Merrill; and Scott Burns, head of data, research and index products at Morningstar, Inc.
Steven Pinker, Harvard university professor and author of Enlightenment Now: The Case for Reason, Science, Humanism, and Progress, said in his keynote GMM address that contrary to the news today, there’s reason for hope in humanity and democracy.
Parag Khanna, FutureMap founder and managing partner, and author of The Future Is Asian and Connectography: Mapping the Future of Global Civilization, discussed the intertwining of humanity and connectivity, and how this need has propelled Asia’s growth over the past 75 years.
ICI President and CEO Paul Schott Stevens (left) discussed the global regulatory landscape with David Wright (center), partner at Flint and retired secretary general of the International Organization of Securities Commissions (IOSCO), and Peter De Proft (right), honorary director general of European Fund and Asset Management Association (EFAMA).
Ellen Stofan (left), director of the Smithsonian National Air and Space Museum and former chief scientist at NASA, discussed space technologies and innovations and emphasized the importance of a diverse and inclusive workforce with GMM Planning Committee Chair Yie-Hsin Hung, CEO of New York Life Investment Management.
GMM attendees explored the offerings at the GMM dinner event, which was held at the Smithsonian National Air and Space Museum.
Each year, ICI’s General Membership Meeting features several interactive breakfast sessions on topics including closed-end funds and global issues. This breakfast session on ETFs featured staff from the SEC’s Division of Investment Management—Melissa S. Gainor, senior special counsel, and Kay-Mario Vobis, senior counsel.
ICI Chief Operating Officer Don Auerbach (left) poses for a photo with (from left) Laura Fergerson, president of Franklin Templeton Services; Sue Toigo, cofounder of the Toigo Foundation; and Jordan Grant, Toigo Fellow, following a session on diversity and inclusion in the asset management industry.
Frank Cooper III (left), senior managing director and global chief marketing officer at BlackRock, moderated a discussion on how to leverage tech in data-driven marketing. The panel also included Martha “Marty” Willis (center), chief marketing officer for Nuveen, and Simon Mulcahy (right), chief innovation officer at Salesforce.
Kelley Conway (left), managing director at Accenture Financial Services Technology Advisory, moderated a panel on key fintech trends with Chris Ackerson, head of product: search and AI for AlphaSense (center), and Dave Hannibal, global head of strategic partnerships and alliances for Duco (right).
The GMM Exhibit Hall offered attendees an opportunity to network and learn more about new vendor solutions.
Attendees shared their input during the Operations and Technology Conference’s interactive breakfast session.
Marty Burns (left), ICI chief industry operations officer, spoke with Michele Porterfield, practice leader at Leadership Solutions, Inc., about challenges of developing longer-term employees.
ICI Chief Industry Operations Officer Marty Burns (right) moderated a discussion on today’s workforce and how people use technology. Also on the panel were (from left) Kelsey Harris, graduate student applicant; Elizabeth B. Scalf, chief compliance officer at Trust for Professional Managers and senior vice president at U.S. Bank Global Fund Services; and Ryan Stahlin, research analyst for the National Security Analytics Group at Battelle Memorial Institute.
At the Independent Directors Council’s Fund Directors Workshop, (from left) moderator Keith Hartstein, independent director at PGIM Funds; T. Neil Bathon, managing partner at FUSE Research Network; Sarah Ketterer, CEO and cofounder of Causeway Capital Management; and Ronald E. Toupin Jr., independent director at Guggenheim Funds and Western Asset Inflation-Linked Fund, explored the impact in the boardroom of industry trends, including distribution, investments, and technology.
Susan C. Coté (left), independent director at SEI Funds, moderated a panel on practices for effective and productive engagement between the fund’s chief compliance officer (CCO) and the board. Also on the panel were (from second left): Stephen M. Alderman, independent director at Brighthouse Funds; Steven Hartstein chief compliance officer at Brighthouse Funds; Randall S. Fillmore, chief compliance officer at Aquila Investment Management LLC; and Glenn P. O’Flaherty, independent director at Aquila Funds.
John Griffin (left), partner at PricewaterhouseCoopers LLP, and Robert J. Chersi, independent director at Thrivent Funds, moderated a discussion with Cynthia R. Plouché, independent director at Northern Funds and Baring Funds, on board composition, succession planning, and other practices, and offered insights on ways to enhance the effectiveness of a fund board.
The Mutual Fund Compliance Programs Conference kicked off with an overview of regulatory issues affecting CCOs and senior compliance professionals over the past year, as well as issues that may be on the horizon. The panel featured (from left) Philip Wellman, vice president and CCO at MassMutual Funds; Russell C. Lemley, CCO at American Funds; Paulita A. Pike, partner at Ropes & Gray; and Nicole Trudeau, chief legal officer at Saturna Capital Corporation.
This panel, moderated by Anita M. Zagrodnik (left), CCO at U.S. Bank Global Fund Services, looked at the challenges that compliance professionals face with respect to their oversight obligations. Also on the panel were (from left) Janet D. Olsen, independent director at PPM Funds; Michael Shoemaker, CCO at Driehaus Capital Management LLC; Patrick J. Spellman, senior vice president and CCO at AMG Funds; and Todd Spillane, executive director at Morgan Stanley Investment Management Inc.
What is the process of identifying conflicts of interest and, once identified, how they are addressed? This panel, which also explored the evolution of this process, featured (from left) Kevin Gleason, senior vice president and CCO at Voya Funds; Michael F. Hogan, CCO at Charles Schwab Investment Management, Inc.; Trevor E. Swanberg, deputy CCO at John Hancock Advisers, LLC; and Tito Pombra, compliance consultant.
This joint session of the Operations and Technology and Compliance Programs Conferences explored strategies and tactics firms leverage to mitigate evolving and persistent threats. Janine Comstock (left), chief security officer at MFS Investment Management, moderated the panel, which also featured Jason Fickett, acting special agent in charge of the Intelligence Division at the FBI, and John Cembrook, chief information security officer at Lord, Abbett & Co.
Katherine M. Primas, CCO at Dodge & Cox, moderated a panel that looked at compliance hot topics. Also on the panel were (from second left) Kevin F. Cahill, partner at Dechert LLP; Matt Chambers, CCO at Horizon Investments, LLC; Wendy D. Fox, CCO at Ariel Investments, LLC; and Kevin Meagher, asset management CCO at Fidelity Management & Research Company.
Brooke J. Billick, CCO at Artisan Partners Funds, Inc. (left), moderated a panel on the interaction between subadvisers and advisers and the challenges these relationships present. Also on the panel were (from second left) Richard J. Gorman, senior vice president and CCO at Jackson National Asset Management LLC; Steven Hartstein, CCO at Brighthouse Funds; and Cheryl B. Wichers, CCO at Russell Investments.
Back by popular demand, the Lightning Round featured a panel of compliance experts answering questions submitted by attendees. Panelists (from left) were moderator Frank Knox, CCO at John Hancock Financial Services; Anita M. Zagrodnik, CCO at U.S. Bank Global Fund Services; Katherine M. Primas, CCO at Dodge & Cox; Phillip S. Wellman, CCO at MassMutual Funds; Brooke J. Billick, CCO at Artisan Partners Funds, Inc.; Paulita A. Pike, partner at Ropes & Gray; and Kevin M. Gleason, senior vice president and CCO at Voya Funds.
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