Q: Sibos 2011 is almost upon us, what topics and themes do you expect to dominate the discussion this year?
A: It used to be that we could have a theme for Sibos, a single one. But as the world turns faster and faster, it has become very difficult to decide what that will be months in advance, so we now explore a number of topics.
Regulation is one of these, and it will be high up the agenda, as it has been for many years. Discussion will not just be focused on whether or not regulation will happen, but how it will impact everyone’s business, and how to interpret and comply with it.
It’s a very pragmatic view, but we will also be exploring in more abstract terms exactly how the financial industry can work together to help shape regulation rather than regulators imposing regulation unilaterally.
The second key theme is technology. We are increasing the number of sessions, which appeal to technologists. It is really about engaging on key topics… exploring many of the current trends, such as cloud, mobile and innovation. It also focuses on technology as an enabler, technology investment from a business return perspective and of course, how technology can help with regulation.
Q: Is the importance of technology to Sibos attendees growing?
A: Technology has always been a part of Sibos, but it tended to be more visible in the exhibition area, where all the vendors were, and it appeared in a number of different streams as a supporting act. We wanted Sibos to have [a dedicated] technology stream as part of the conference. It is part of the reason why people want to come to Sibos, and we want to attract a more technology-orientated audience.
It is difficult for us to ignore some of the fundamental trends of technology in financial services. It would be very tough for us to exclude cloud computing, it would be silly for us not to talk about social computing and social media at large, and it would be wrong for us not to talk about volumes of data.
Q: Sibos caters to an ever more international audience, how will this be reflected in the conference agenda?
A: Global and local perspectives are another huge topic. Here, we’re talking about emerging economies, Brazil, for example, features fairly high on the agenda, as does China thanks to the internationalisation of the renminbi. Many other areas, including Islamic finance, have found their way onto the conference agenda too. Anything to do with regional initiatives, or the way in which countries are coordinating monetary policy or their approach to infrastructure, is important. We are trying to reflect not only global trends, but more importantly, how they affect specific regions of the planet.
Q: Amsterdam last year was the biggest Sibos yet. How will Toronto compare?
A: I doubt it will be as big... European Siboses are always bigger, because it is very easy for anyone in Europe to take a day trip to Amsterdam [for example]. Also, a lot of our mature markets are in Europe, and 60% of our business is Europe-bound. Toronto will, I think, have an attendance of 6000 to 7000. I think we will see a significant contingent of Asian reps in preparation for [Sibos 2012 in] Osaka next year. Many of the Chinese and Japanese firms which were with us in Amsterdam will be repeat shows in Toronto too. It will be a truly global event, perhaps not as crowded as it was last year, but equally important.
Q: Will the location itself influence the conference?
A: It is always reflected. Sibos in Hong Kong obviously had more of an Asian agenda than Sibos in Amsterdam. Global themes have their place, but location plays a role as well. We will see more Canadian representatives in terms of the senior figures we have attending. We have conversations with Rick Waugh, president and CEO of Scotiabank, and Gordon Nixon, president and CEO of Royal Bank of Canada, for example. Tim Lane, the Bank of Canada's deputy governor, will also be taking part in the opening plenary.
Q: Transaction banking was a particular focus at last year’s Sibos. Will its star continue to rise in 2011?
A: We will see some of that, but this year, because of the location, we are likely to have more representatives from the investment management community. In 2010, cash management was sexy, that may still be the case, but less so than last year.
Post-crisis, there was a retrenchment in many organisations, and it is fair to say that in 2010 transaction banking was the only profit-making area in many institutions. I think slowly but surely, that’s now changing. It is not that it isn’t important, but it is less important than it was last year.
