Russia Investment Roadshow Program
- By Unknown
- Apr. 21 2008 00:00
The Russia Investment Roadshow begins on the evening of April 20, with conference sessions running on April 21 and 22 at the Queen Elizabeth II Conference Center.
Plenary speakers — April 21
Roger Munnings, president and CEO, KPMG Russia/CIS
Alexander Shokhin, president, Russian Union of Industrialists and Entrepreneurs, or RSPP
Dmitry Pankin, deputy finance minister
Hans Joerg-Rudloff, chairman, Barclays Capital
Hector Sants, chief executive officer, Financial Services Authority
Vladimir Pozner, presenter, “Vremena”
Alexei Gurin, chief executive officer, CiG (CentreInvest Group)
Alexander Potemkin, president, MICEX
Chris Gibson-Smith, chairman, London Stock Exchange
Varel Freeman, first vice president, EBRD
Richard Lambert, director general, Confederation of British Industry
John Hutton, British secretary of state for business, enterprise and regulatory reform
First Round of Afternoon Sessions
(April 21 / 2 – 3:30 p.m.)
Russia’s Economy and a Global Recession: Risks and Opportunities
This discussion will put Russia’s economy in a global context, exploring potential external and domestic risks to future growth. How long will it be before the Russian financial system starts to really feel the effects of the worldwide liquidity crisis? Will Russian finance markets be able to cope with the prospect of a global recession or will it be essential to launch special measures through a change in financial policy? How will Russian businesses react in an unstable environment: through further expansion, or by watching and waiting? And would government involvement simply be a short-term fix, or an important safety net?
Co-Moderators: Alexander Shokhin, president, RSPP and Kirill Dybsky, editor, Itogi.
Speakers: Alexei Ulyukaev, first deputy chairman, Central Bank; Vladimir Milovidov, head, Federal Financial Markets Service; Andrew Somers, president, American Chamber of Commerce in Russia; Brian Coulton, managing director, Global Economics, Sovereign Group, Fitch Ratings (London)
The Investment Climate Under a New Presidential Administration
In March 2008, Russians went to the polls to choose a new president, and the international business and finance community has responded very positively to the election results. The forum will be the first major international Russian business event to be held after the elections, and will be the first platform for international observers to consider the economic policy of the new administration, and the impact it will have on the investment climate.
Moderator: Maxim Trudolyubov, opinion editor, Vedomosti.
Speakers: Nikolai Shmelev, president, Europe Institute, Russian Academy of Sciences; Igor Bunin, director, Center for Political Technologies.
Special Edition Of BBC World’s “Hardtalk” Program
BBC World will once again be filming its popular HARDtalk program in front of a live audience as part of the forum, after using this format at the conference in 2006 for the first time. This edition of HARDtalk will be broadcast after the event.
Moderator: Stephen Sackur, presenter, “HARDtalk”
Speaker to be confirmed.
Please note: The main feature of this session will be a 25-minute interview that will be conducted in English without translation so as to minimize background noise during filming. It will be followed by a question and answer session with consecutive translation in Russian and English.
There will be a limited number of seats, available on a first-come, first-serve basis. Once they are filled, nobody else will be admitted. Delegates are recommended to make their way to the room before the official 2 p.m. start time.
Coffee Break (3:30 – 4 p.m.)
Second Round of Afternoon Sessions
(April 21 / 4 – 5:30 p.m.)
Russian Companies on the Global Capital Markets: Premium or Discount?
At a time of such volatility in global finance markets, many international investors are looking to emerging markets such as Russia as potential safe havens, and yet it can sometimes be difficult to identify the best opportunities and the real value of assets. Conversely, Russian companies face challenges of their own when trying to raise revenue, including the perceptions of the international investment community, difficult decisions about which instruments to use, where to go to market (within Russia or abroad), and whether to wait until market conditions improve before doing an IPO. This discussion will bring together a variety of players to explore the expectations of issuers and investors alike, and will look at ways to break down the misunderstandings that often exist.
Moderator: Yuliana Slaschova, president, Mikhailov & Partners.
Speakers: Nina Zapruyagaeva, chief financial officer, OGK-2; Natalya Tsukanova, managing director, head, investment banking, Russia/CIS, JP Morgan; Sergei Men, managing partner, Eurasia Strategics / Sallmanns
The “Image Gap” — And What It Means For Foreign Investment
Russia has made extraordinary strides in recent years. The economy grew by more than 8 percent in 2007, and by virtually every other parameter, with the possible exception of inflation, progress has far outstripped all expectations. This is a country very much on the move. And yet the contradiction between the image of Russia in the world media and the economic story on the ground seems more acute than ever before. This, despite record levels of foreign investment, which more than doubled in 2007, to more than $120 billion. Why the increasing disconnect? How much is world public opinion based on fact, and how much on perception? Does it really matter to Russia? What is its real impact, and what benefits would the Russian economy feel if it were to improve?
Moderator: Oleg Beriev, President and CEO, Mildberry.
Speakers: Jeremy Deedes, chairman, Pelham PR, formerly chief executive, Telegraph Group, and managing director, Evening Standard; Reiner Hartmann, chairman, AEB, head of Russia representation, E.ON Ruhrgas; Karl Johansson, foreign members coordinator, Foreign Investment Advisory Council (FIAC); Mikhail Leontiev, editor, Profil.
Complex Project Finance in Russia — Catalyst for the Implementation of National Projects In Cooperation With NOMOS-Bank
At a time of vigorous economic growth in Russia, the successful implementation of the federal government’s national projects is gaining greater significance. And yet there are a number of serious obstacles to further progress, such as insufficient and under-developed infrastructure and a lack of vertically-integrated relationships among existing market players — all of which interfere with the fulfillment of complex projects in developing regions across Russia. This session will explore possible solutions.
Moderator: Anatoly Aksakov, deputy, State Duma and member of its Financial Markets Committee, the National Banking Council and RSPP, president, Association of Regional Banks of Russia.
Speakers: Alexander Roiko, vice president, NOMOS-Bank; Andrei Vladimirov, financial director, OAO Master.
Drinks Reception (5:30 – 7 p.m.)
Alexander Lebedev, the billionaire owner of a 30 percent stake in Aeroflot, speaking at the forum in London last year.
First Morning Session
(April 22 / 9 – 10:30 p.m.)
The Growing Footprint of Russian Investment Abroad
The shape of the world economy is going through historic change, and Russia is one of a number of emerging markets playing a new and dominant role. Together, the BRIC countries account for a far greater share of worldwide growth than ever before. Russia is increasingly pro-active in taking the lead on global issues, and individual Russian companies are now operating as serious international players. Has this new influence been enhanced by the international liquidity crunch? What is the impact of Russian investment abroad? In which markets are Russian investors focusing their interest and are they already competing with ‘developed economies’ in the chase for assets? And in what sectors can Russian goods and technology be globally competitive?
Moderator: Maxim Kashulinsky, editor, Forbes Russia.
Speakers: Sir Francis Richards, chairman, international advisory board, Altimo; Igor Yurgens, chairman, Renaissance Credit; Mikhail Tsarev, regional head for strategic development, KPMG Russia/CIS
Coffee Break (10:30 – 11 a.m.)
Second Morning Session
(April 22 / 11 – 12:30)
The Battle for Assets: How to Approach the Markets
Russian companies starting their battle for prospective assets abroad may face a web of long-established relationships between multinational corporations and other organizations. In addition, they are less familiar with the relevant corporate laws and the related legal system. Do these circumstances give their foreign competitors a real advantage? If so, does it help them to acquire assets at a more attractive price? What can Russian companies do in order to strengthen their position in the international arena? Where can they find the best assistance and support? How can foreign partners and advisors be most efficient? How can Russian advisors be better placed to assist their Russian clients?
Moderator: Dmitry Afanasiev (Egorov, Puginsky, Afanasiev and Partners).
Speakers: Andy Nussbaum (Wachtell, Lipton, Rosen & Katz); Steven Galbraith (Slaughter and May); Oleg de Lousanoff (Hengeler Mueller); Giovanni Domenichini (Bonelli Erede Pappalardo); Patrick Dziewolski (Bredin Prat); Sebastián Sáenz de Santamaría (Uría); Bernard Roelvink (De Brauw Blackstone Westbroek); Christian Herbst (Schönherr); Andrei Gusev (Mannheimer Swartling)
Lunch (12:30 – 2 p.m.)
First Round of Afternoon Sessions
(April 22 / 2 – 3:30 p.m.)
The liquidity crunch has slowed down a torrid run to the markets by Russian companies, who have issued a series of historic international IPOs in recent years. The experiences of chief financial officers are an ideal barometer for gauging just how much the market is recovering, and the prospects for the short and medium term. A similar session was also very well received at the Global Investment and Finance Forum in December 2007 — giving delegates an opportunity to witness a frank and open dialogue between leading Russian CFOs.
Moderator: Oleg Anisimov, Editor, Finance Magazine. Speakers to include Yevgeny Luneyev, chief financial officer, PIK Group; Igor Ponomarev, chairman, Genser; Andrei Golyshkin, vice president, OCS; Alexei Kurach, deputy general director, Detsky Mir; Sergei Savin, partner, advisory department, KPMG
Is the Liquidity Crunch Impacting the Russian Consumer?
How much of Russia’s retail boom is being fueled by oil revenues, and how much by credit? How mature is the local consumer market? How insulated is it from external shocks, like the worldwide liquidity crunch? If access to affordable interbank lending rates is a major driver, then how much are Russian banks being hit by the credit squeeze — especially the more vulnerable smaller and mid-size players — and could this lead to a slowdown? Are consumers behaving differently in Russia, as a result of recent events on global finance markets?
Moderator: Natalya Kirpichenko, general director, Multibroker.
Speakers: Yevgeny Bernshtam, chairman, Sequoia Credit Consolidation; Oliver Hughes, president, Tinkoff Credit Systems
Is Moscow Ready to Become a Global Financial Centre?
If the Russian economy is to make real progress in attracting outside investment, its capital city must lead the way. Moscow has already made enormous strides, but how ready is it to become a true world-class international finance hub? Does it have the human resources — the skills and expertise — or the infrastructure or transport links? How much access is it ready to offer international investors? Is there the right level of government support and regulatory environment? How mature is the business climate as a whole, and the local service industry? Is there a culture of well-educated retail investors? And to what extent is Russia ready to accept the unpredictability that a greater presence of foreign capital will bring?
Moderator: Boris Safronov, deputy editor, Vedomosti.
Speakers: Alexei Timofeyev, chairman, NAUFOR; Gennady Margolit, first deputy general director, MICEX Stock Exchange; Anton Ananko, business development director, BT Russia-CIS.
Coffee Break (3:30 – 4 p.m.)
Second Round of Afternoon Sessions
(April 22 / 4 – 5:30 p.m.)
Power Sector Reform: Is Everything Only Just Beginning?
UES is ceasing its function as a ‘state monopoly’, and is being turned into a number of state and private companies. How competitive will these companies be? Will they be able to continue the modernization of their key assets and how will large-scale projects be financed in the power sector?
Speakers: Andrei Demin, deputy chairman, UES; Ivan Blagodyr, CEO, Energy Systems East; Sergei Yushin, CFO, HydroOGK; Alexei Kachai, head of strategy, UES.
Sectors to Watch
Savvy investors in Russia are able to look beyond some of the more obvious targets for investment into new areas of the economy that are witnessing exceptional growth. What sectors are the ones to watch in the months ahead? Where are Russia’s ‘best-kept secrets’?
Speakers to include James Fenkner, managing partner, Red Star Asset Management.