China Finance Forum 2019

Following the legislative elections of 14 October 2018, Pierre Gramegna was re-appointed Minister of Finance in the coalition government formed by the Democratic Party (DP), the Luxembourg Socialist Workers’ Party (LSAP) and the Green Party (déi gréng). Pierre Gramegna first joined the government as Minister of Finance in 2013.

As Minister of Finance, Pierre Gramegna has initiated major reforms to balance the budget and to align Luxembourg’s tax rules with international transparency standards. Thanks to these efforts, Luxembourg’s AAA rating has been consistently confirmed by all major rating agencies and, in 2015, the Global Forum on Transparency and Exchange of Information for Tax Purposes upgraded Luxembourg to “largely compliant”. Pierre Gramegna is also a promoter of the diversification of Luxembourg’s financial centre, in particular with regard to FinTech and sustainable finance. He is the initiator and president of the LHoFT Foundation, which runs the Luxembourg House of Financial Technology. He has also further developed bilateral relations with China in the financial sector.

Pierre Gramegna puts particular emphasis on Luxembourg’s role in multilateral development banks. In 2014, Luxembourg became a member of the African Development Bank and, in 2015, Luxembourg was the first non-Asian country to join the Asian Infrastructure Investment Bank. Currently, he is the chairman of the board of Governors of the AIIB. In May 2016, Pierre Gramegna was elected chair of the Board of Governors of the European Bank for Reconstruction and Development for a one-year mandate. He currently serves on the Board of Governors of the European Investment Bank and on that of the European Stability Mechanism. He is also Luxembourg’s governor to the International Monetary Fund, the World Bank and the Asian Development Bank.

Pierre Gramegna studied law and economics at the Université Panthéon-Assas (Paris II), where he was awarded a master’s degree in civil law in 1981 and a degree in economic sciences in 1982. He completed his post-university education with a DEA (postgraduate diploma of advanced studies) in European Union law.

As a career diplomat, Pierre Gramegna joined the Ministry of Foreign Affairs in 1983. From 1996 to 2002, Pierre Gramegna was Luxembourg’s ambassador to Japan and South Korea. From 2003 to 2013, Pierre Gramegna held the position of Director General of the Chamber of Commerce.

Nicolas Mackel is CEO of Luxembourg for Finance, the Agency for the Development of the Financial Centre, since July 2013.

Nicolas is a career diplomat. He has graduated with a law degree from the University of Aix-en-Provence, and holds two post-graduate diplomas in European law from the Sorbonne University, respectively the College of Europe in Bruges where he then also served as a teaching assistant in the Law Department. He worked as a legal clerk at the European Court of Justice before joining the Ministry of Foreign Affairs in 1999. His assignments focused on the successive EU Treaty negotiations (Amsterdam, Nice, Constitution, Lisbon).

Nicolas was consecutively posted at Luxembourg’s Permanent Representation to the EU (2002-07), as Deputy Chief of Mission at Luxembourg’s Embassy in Washington DC (2007-11) and as Consul General in Shanghai (2011-13) where he was in charge of promoting Luxembourg’s economic interests throughout China as the Executive Director of the Luxembourg Trade and Investment Office.

Judith Bogner is a television presenter, event facilitator and commentator for international finance, business and geopolitics based between the UK and Germany. For more than ten years she was one of the main European anchors of the financial news channel Bloomberg Global Television in London. Since 2012 Judith runs her own business, offering event and business facilitation, client advisory boards and strategic consulting. She is also a UK accredited mediator.

Judith regularly leads public and private events for corporate and institutional clients in the financial sector and beyond. Her list of clients include the Federation of German Industries, the Euro Finance Week (Frankfurt), Bank of America Merrill Lynch, Bank of New York Mellon, The Brewers of Europe, Luxembourg for Finance, the Dutch Development Bank FMO, Ergo Insurance, State Street, Scope Ratings, the Institute of Culinary Art, Allianz Global Assistance, Wacom and the Thomson Reuters Foundation.

Born in Germany, Judith has lived in Switzerland, China, Ukraine, France and Italy. Currently she divides her time between Munich and London. She is bilingual in English-German and also speaks Italian, French and Mandarin Chinese. Judith holds a degree in International Business Management and Chinese from the University of Applied Sciences in Bremen.

Dr. Ma Jun is the UN Environment’s Special Advisor on Sustainable Finance. He is also Special Advisor to the Governor of the People’s Bank of China, Chairman of Green Finance Committee of China Society for Finance and Banking, and Co-chair of G20 Green Finance Study Group.

Before joining Tsinghua University, he was the Chief Economist at the Research Bureau of the People’s Bank of China (PBOC) from 2014-17. Prior to that, he worked for 13 years at Deutsche Bank, where he was Managing Director, Chief Economist for Greater China, and Head of China and Hong Kong Strategy. From 1992-2000, he worked as public policy specialist, economist and senior economist at the International Monetary Fund and World Bank. From 1988-1990, he was a research fellow at the Development Research Center of China’s State Council.

Dr. Ma received his Ph.D. in Economics from Georgetown University in 1994, and his master’s degree in Management Science from Fudan University in 1988.

Marc-André Bechet is Deputy Director General of ALFI, the Association of the Luxembourg Fund Industry. He joined the association in September 2014.

Before joining ALFI, Marc-André Bechet was Head of the Investment Funds Services at Banque Degroof Luxembourg, responsible for fund administration and custody. Prior to joining Banque Degroof, Marc-André Bechet worked for 18 years at RBC Investor Services Bank in Luxembourg, where he held various senior positions.

Mr Bechet holds a Master’s degree in Business Administration from the University of Ottawa (Canada) and a Master’s degree in Finance from the French business school ESCP in Paris. He speaks English, French, German and Luxembourgish.

Julie Becker has been at the helm of the Luxembourg Stock Exchange (LuxSE) since April, 2021. She joined LuxSE in 2013 and was appointed to its Executive Committee in 2015, before being named Deputy CEO in 2019, and CEO two years later.

Her career in the financial sector in Luxembourg spans over two decades and includes positions at the Central Bank of Luxembourg and Dexia. In 2016, Julie Becker founded the Luxembourg Green Exchange (LGX), the world’s leading platform for sustainable securities. A recognised expert in the field of sustainable finance, Julie Becker has represented LuxSE and LGX at numerous, international expert forums and conferences over the past years, including at the prestigious EU High-Level Expert Group on Sustainable Finance from 2016-2018. She is also the Chair of LuxCMA, a capital markets industry association established in 2019.

Julie Becker specialises in regulatory and legal matters linked to capital markets. She holds a Master Degree in European & Corporate Law and a Master Degree (DEA) in Private Law from the University of Nancy II, France. She is also an alumna of the Wharton Business School, University of Pennsylvania, USA.

Eric joined Aberdeen Standard Investments (ASI) in 1997 and is based in the London office, where he is responsible for developing relationships with key wholesale and institutional investment clients globally. He works closely with the Group Chairman, senior executives and regional business leaders within ASI to deliver clients investment expectations.

Eric has extensive experience across Asia and has been involved in the development of various initiatives and partnerships with large clients across the regions.

Previously, Eric was chief distribution officer for the Standard Life Asia (SLA) business in Hong Kong. Prior roles include Head of Wealth and Investment solutions for Standard Life Asia. Eric has a BA (Hons) in Financial Services and has the Investment Management Certificate

Dr. Cao has been with the BOC since 1998, taking director and chief economist of BOC International (China) and chief economist of BOC. Before, he was head of the Bureau of Chinese Economic System Reform, SCRE (now known as the State Commission for Economic System Restructuring). He is also the vice-chairman of China Society of Macroeconomics with National Development and Reform
Commission, vice president of the Latin American Association of China, vice-chairman of ILAS CASS, member of Chinese Economists 50 Forum and China Finance 40 Forum, board member of Boyuan Foundation, former director of BOC International Holdings, and executive vice president, chief economist, chief economist at bank China. He also holds academic positions such as doctoral
supervisor of Renmin University of China, visiting professor at the University of Southern California, professor at Tsinghua University and Beijing University, and deputy general secretary of the China Society of Macroeconomics. Vice chairman of the Pacific Economic Cooperation Commission.

Dr. Cao has profound experience on China’s economic reform. He was the expert for World Bank, Asian Development Bank and the United Nations Develop Programme, and governmental economic adviser for transition countries such as Vietnam, Mongolia, Czech Republic, Kazakhstan, Kyrgyzstan, and Uzbekistan. He is now the economic adviser for several domestic provinces.

Dr. Cao obtained his post-doctoral qualifications in technical economics from Darmstadt University in Germany and a doctorate of economics from Renmin University of China. He also holds a master’s degree in economics from Wuhan University and a bachelor’s degree from Xi’an Foreign Language Institute.

As Senior Counsellor of the OECD Global Relations Secretariat, Karim Dahou supports the Director in implementing the OECD Global Relations Strategy, through enhancing the key partnerships with Brazil, China, India, Indonesia and South Africa, supporting the development of OECD Regional Programmes with Eurasia, the Middle-East and North Africa (MENA), Latin America and the Caribbean (LAC), Southeast Asia (SEA) and Southeast Europe (SEE), and supporting partner countries from all around the world in implementing reforms based on OECD recommendations and instruments.

Karim joined the OECD in 2006 as Senior Advisor to the Africa Partnership Forum and moved to the OECD’s Directorate for Financial and Enterprise Affairs (DAF) in 2008. He has been Deputy Head of the Investment Division, responsible for asserting OECD leadership in international investment policy and responsible business conduct. Prior to this, Mr. Dahou held several positions in DAF as Executive Manager of the NEPAD-OECD Africa Investment Initiative, Head of the Green Investment Unit and Head of Programme on Investment for Development.

Before joining the OECD, Karim Dahou served as the Chief of Staff to the Executive Secretary and Special Advisor to the Chairman of the Board of the international NGO ENDA, and was founding member and managing director of the policy think-tank Enda Diapol (Policy Dialogue).

Karim, a French and Algerian national, holds a Master Degree in International Private Law from La Sorbonne University, and is a graduate of the Paris Institute of Political Studies (Sciences Po).

Jerry Hong has more than 20 years experiences of business development and investment in the automotive industry and related innovation.

Previously working for SAIC Europe as Vice President of business development, Jerry recently joined Ascend Capital as managing director and venture partner for their European investment.

Echo Jiang joined China Central Depository and Clearing (CCDC) as Head of Cross-border Settlement Centre in August 2018 and is based in Shanghai. In this role, she is responsible for leading the team to manage the x-border product solution design and optimisation, as well as network management with both domestic and overseas financial infrastructures, intermediaries in order to support CCDC’s international business development and the further opening-up of China bond market.

Prior to joining CCDC, Echo Jiang worked for Citi and Standard Chartered Bank for 8 years respectively, where she has broad exposure to various roles across different products like business planning, project and product management, client management, solution delivery etc. She specialised in the securities and funds services area since 2006 and provides services to both overseas and domestic financial institutional investors for supporting their cross-border investment. She is a specialist on post-trades services of China capital market with sound knowledge and solid practical experiences which earned her proven tracking records in the banking industry.

Echo Jiang is majored in MIS and financial management and graduated from Shanghai University of Finance and Economics (SUFE) in 2003. She obtained Bachelor of Engineer and Master of Financial Management.

Zennon Kapron is the Founder and Director of Kapronasia, a leading financial industry research and advisory firm with offices across Asia. Zennon has been involved in the financial industry for over 20 years and is a recognised expert on the development of fintech in China and its impact on the financial industry.

Before Kapronasia, Zennon was the Global Banking Industry Director for Intel and before Intel, the CIO for Citigroup Portugal. Zennon is also the co-founder of China Fintech and the author of Chomping at the Bitcoin: The Past, Present and Future of Bitcoin in China. He holds a B.S. in Computer Science from Syracuse University and an MBA from INSEAD.

Stephane Karolczuk is a Partner of Arendt & Medernach and the Head of the Hong Kong office. Stephane advises clients based in the Asia Pacific region regarding their European projects and their Luxembourg legal and regulatory questions.

As Partner in the Investment Management practice, Stephane advises international clients on all issues relating to Luxembourg investment funds (UCITS or other vehicles) including the structuring, setting-up and marketing of these funds (under UCITS or AIFMD), as well as strategies involving investments in the Asia Pacific region and questions relating to the distribution of funds in the region.

Stephane also specialises in questions relating to the internationalisation of the RMB and the opening of the PRC capital markets (QFII, RQFII, Stock Connect, QDII, QDII2, QDIE, QDLP, etc.) from a Luxembourg perspective.

In 2008, Stephane was seconded to Arendt & Medernach’s representative office in New York with a view to developing an Investment Management Helpdesk advising US clients in relation to Luxembourg investment funds questions.

Stephane has taken part in the activities of the Association of the Luxembourg Fund Industry (ALFI), the Hong Kong Investment Funds Association (HKIFA), the Hong Kong Private Equity and Venture Capital Association (HKVCA) and he is regularly invited to speak on Luxembourg funds related topics at conferences in the region.

Stephane graduated from the University of Brussels (Belgium) and the University of Ghent (Belgium). He is admitted to practice in Hong Kong as a Registered Foreign Lawyer, as well as in Luxembourg and Brussels.

Languages: English, French, Dutch and basic knowledge of Mandarin.

Kong Wei is a Qualified P.R.C. lawyer since October 1993; he has joined Zhong Lun Law Firm as a Partner since July 2001. His main practice is Corporate Finance.

Besides the legal practice, Mr Kong is also active in the following areas: now he is serving as Convener of Lujiazui Financial City Council-Green Finance Development Committee and Co-chair of International Network of Financial Centres for Sustainability (FC4S) of UNEP.

Mr Kong has done many Green finance related works and researches, such as participating in drafting and revising the report of Investor Duties and ESG Integration in China with UN PRI, promoting the ESG practice in China; participating in consultation of the report of How securities regulators can support the Sustainable Development Goals: A sharing of experiences in promoting sustainable finance for SSE Initiative as one of four Chinese counsels; leading a research report with Green Finance Committee of China Finance Association: A Research on Environmental Risk of Financial Institution Acting as A Multi-liability Subject; contributing to complete a research report: Policy Advices on Promoting Green Financing with Utilizing Environmental Rights as Collaterals and Financing Tools of Environmental Rights with Green Finance Committee of China Finance Association.

Esther joined Amundi Asset Management in 2014 from Pioneer Investments London, where she was a co-manager of the Local currency bond fund from 2013. Previously, she was a Director in Emerging Markets Strategy for Société Générale and a Senior EM strategist for the Royal Bank of Scotland. Esther began her career at HSBC in 1998 as a Fixed Income Trader focusing on the Asian bond markets, before moving to HSBC Global Fixed Income strategy in 2002.

Esther is the winner of the Fund Manager of the Year 2019 by Women in Finance London and ranked top 3 in The most Astute Investors in Asian local currency 2019 (UK/EU/AUS category) by The Asset.

She holds an MSc in Mathematical Trading and Finance from CASS Business School of City University of London and a BSc degree in Economics from the London School of Economics and Political Science.

Jing Li works currently as Associate Vice President at Legend Holdings Corporation, leading its overseas investment business. She is also a Board Director at Banque Internationale à Luxembourg as Legend Holdings representative.

Jing joined Legend in 2005 as Assistant General Manager of Investment Management Dept and re-joined in 2014 as Managing Director of Overseas Investment Dept. In-between she worked at Zurich Insurance Group in various key roles. From 2013 to 2016 she was a Non-Executive Board Director at New China Life Insurance Asset Management. Jing also worked as Manager at China Construction Bank in her early years.

Jing obtained a bachelor’s degree in Economics from Nankai University, a Master in Economics from University of International Business and Economics in China, and a Masters in Finance from London Business School. She is also a CFA Charter Holder.

Mr Li began his legal career with Debevoise & Plimpton in 1990. He was a partner and leader of several important practice areas in prominent Chinese and international law firms. He is now partner and Co-CEO of Han Kun Law Offices.

Xiaoming Li is widely recognized as a leading lawyer for bank finance, project finance and corporate and M&A. He is listed in the top tier for both Banking and Finance and Projects, Infrastructure & Energy in China by Chambers Asia, IFLR1000 and Legal 500.

Luke Mackowski is a Product Director at Investec Asset Management. He leads the product development and strategy for Europe, the Middle East and Asia Pacific. Working collaboratively with the investment and business development teams, he is responsible for developing and enhancing the various investment capabilities offered to retail and institutional investors. Based in London, Luke also spends a considerable amount of time working with the Hong Kong office. Luke started his career at National Australia Bank in Melbourne, Australia.

Luke holds a Bachelor of Commerce and a Bachelor of Economics from Monash University in Australia. He has served various industry committees and bodies including the UK’s Investment Association.

Frederic Neumann, PhD, is Managing Director and Co-Head of Asian Economics, based in Hong Kong. Before joining HSBC, Frederic was an adjunct professor at a number of US universities, teaching courses on Asian sovereign risk analysis, international financial markets, international monetary policy, and Southeast Asian political culture.

He also served as a consultant on Asian economic and political affairs various public sector institutions.

He is also a former research associate of the Institute for International Economics in Washington, DC. A former Fulbright scholar, Frederic Neumann holds a PhD in International Economics and Asian Studies.

Aldo Romani oversees EIB’s Climate and Sustainability Awareness Bond (CAB&SAB) issuance in all currencies. His team was created in 2018 in response to growing investor demand as well as increasing public attention in the context of the Action Plan on Financing Sustainable Growth.

A graduate in monetary and financial economics of Bocconi University, he started his career in investment banking at Commerzbank AG. He joined EIB as assistant to the Deputy Director General of Finance and then as member of the EUR-funding team.

Aldo began to integrate social responsibility into EIB’s funding strategy in 2007, shaping the first Green Bond ever and overseeing EUR Green Bond issuance since. He structured the upgrade of CAB-administration in 2014, coordinated the IFI- and GBP- groups on impact reporting harmonisation from 2015 to 2016, managed first KPMG-audit of EIB’s CABs in 2016. In 2017-18, he coordinated the EIB-team that co-authored with the China Green Finance Committee White Papers on the Need for a Common Language in Green Finance.

Market recognition includes awards with Global Capital (“Overall Most Impressive Green/SRI Bond Funding Official” in 2015, 2016 and 2017) as well as with Environmental Finance (“GB Personality of the Year” in 2018).

Mr Shen Shisheng has been Deputy General Manager of ICBC Global Markets Department since 2010, and is in charge of FX Monetary Market Business and Commodity Trading Business. He joined ICBC in 1987 and before working at Global Markets Department, he used to work at management level at International Banking Department of ICBC Head Office, ICBC Hong Kong Branch, ICBC Almaty Branch, and ICBC Treasury Center (Hong Kong). Thus he has rich expertise and experience in foreign exchange, fixed income, money market and commodity business.

Song Jie (Jane) is Senior Director, Ant Financial International Department. She graduated Ph.D from Nanyang Technological University, Singapore.

She joined Alipay in 2010 working in global payment area for many years. Song Jie (Jane) contributed in many key products such as blockchain based cross border remittance, express payment, mobile wallet, O2O payment, and open platform.

Owen Walker is an award-winning journalist who has covered business and investment issues in the US, UK and Europe. He is Asset Management Correspondent for the Financial Times, having previously served as Commissioning Editor in the Special Reports team. He is also Deputy Editor of FTfm, the FT’s fund management supplement.

He previously edited specialist FT publications on corporate governance, retail investment and pension scheme management. He has served as trustee on the board of the Pearson Group Pension Plan and was a committee member of the Association of Member Nominated Trustees.

Owen is author of a book on activist investors, Barbarians in the Boardroom, which was published in 2016 and has been translated into Chinese and Japanese.

Desiree Wang, Managing Director, is China Country Head and the Chairman of China Operating Committee of J.P. Morgan Asset Management. She oversees the firm’s business activities in China, including Funds, Institutional, Liquidity, cross-border programs, strategic Chinese and global client relationships, and etc. She is also responsible for our APAC Institutional Insurance efforts.

Prior to joining the firm in 2008, she had worked for Merrill Lynch since 2004 and then BlackRock following the merger in 2006, with focus on developing asset management business in China. Her career started with four years at the head office of ICBC in Beijing.

Desiree obtained an MSc degree in Finance (with Distinction) from the University of Manchester, UK, and a BA in Economics from the University of International Business and Economics, Beijing. She is also a CFA Charterholder.

Shenke Wang, Senior Engineer and national candidate of Millions of Talent Projects, is an expert who obtained the State-Council Allowance. After having a Master degree and a Doctorate, he has been a postdoctoral researcher at the Postdoctoral Research Station of Computer Science and Engineering at Harbin Institute of Technology. He is currently Executive Manager of Fintech Department of China Construction Bank, responsible for the overall planning of the Bank’s information technology (IT). He has organised the bank national centralised project of the core system and has took part in the construction of a network system.

Furthermore, Mr Wang is in charge of the planning and construction of the Data Center; he is managing the entire bank’s technical and application architecture, the construction of business continuity management and disaster backup system of the bank as well.

Mr Wang is also responsible for the centralised procurement of IT equipment, software and application services. He is managing IT and business integration work and is developing an interactive strategy with both IT and business Units. He is also responsible for the technical evaluation of the New Generation System’s construction.

Alexandre Werno joined BNP Paribas Asset Management (BNPP AM) in Hong Kong as Head of Asia Pacific Strategic Partnerships and JVs in November 2017. Apart from identifying and developing new partnerships in the region, he is also responsible for fostering business synergies with existing partners on product development and cross-border sales; and in charge of overseeing BNPP AM’s Joint Ventures in the region which include HFT Investment Management for which he is board member, HF Private Equity in mainland China and Shinhan BNP Paribas Asset Management in Korea.

Prior to joining BNPP AM, Alexandre was Executive Vice President of Fortune SG Asset Management in Shanghai, a Joint Venture between Hwabao Trust and Lyxor Asset Management; and was in charge of risk management, institutional sales and international business.

Alexandre started his Asian career back in 2007 as head of China business development in derivatives business for Sociéte Génerale (SG) Corporate Investment Bank. During his five years with SG, he was instrumental in developing partnerships with securities houses and asset owners. Before relocating to Asia, he held a senior role with the Société Générale Group Inspection department and was tasked with strategic assignments in Europe, Asia and Europe.

Alexandre graduated from the Institut d’études politiques de Paris and ESCP Europe and is fluent in Mandarin.

John is a corporate partner of Linklaters Shanghai office. He has close to 20 years of experience in China-related cross-border M&A, restructuring, joint venture and capital market transactions with a focus on financial institutions and financial sponsors.

John knows how to negotiate and conclude deals in and out China through his deep understanding of legal and cultural capabilities. Combined with his sector expertise, clients rely on him to achieve the commercial objectives and manage risk.

His recent high-profile transactions include advising on Citigroup Global Markets Asia Ltd.’s exit from Citi Orient Securities Co., Ltd., acting for the underwriters on Huatai Securities’ successful London GDR offering and listing which is the first GDR under the new Shanghai-London Stock Connect regime, and advising on Suning.com’s acquisition of an 80% stake in Carrefour’s China business for US$698m in cash.

Max J. Zenglein’s research focuses on China’s macroeconomic development, international trade and industrial policies. He has a particular interest in China’s evolving economic system and the economic conditions in Hong Kong, Macau, and Taiwan.

Max Zenglein has over ten years of professional experience working on China-related economic issues. Before joining The Mercator Institute for China Studies (MERICS), he was an economic analyst for the German Chamber of Commerce in Shenzhen and Beijing. He is an economist by training and has studied at the University of New York at Buffalo, the Berlin School of Economics and Law, the University of Hong Kong and the University of Kassel. He received his Ph.D. from the University of Kassel in 2015.

Nasir Zubairi is CEO of The LHoFT – The Luxembourg House of Financial Technology, a public/private sector initiative to drive fintech innovation in Luxembourg.

He sits on the IMF’s High Level Advisory Group on Finance and Technology and the OECD’s Blockchain Expert Policy Advisory Board. He has been a Non-Executive Board director at a “traditional” bank, Skandinaviska Enskilda Banken (SEB) S.A. Nasir has worked in Financial Services for 22 years. He spent 13 years working within Capital Markets at RBS, ICAP, HSBC and EBS.  He has been immersed in the Fintech and startup sector since 2011.

As an entrepreneur, Nasir has built multiple Fintech businesses across verticals. He has advised the boards of leading financial institutions, central banks and governments. Nasir is included in the “Top 40 innovators shaping the future of financial services -2014” by The Wall Street Journal/Financial News.

Nasir has a BSc from the London School of Economics and is a Sloan Fellow from London Business School.