Ключевое событие финансового года на конференционном рынке России, на котором состоится комплексное обсуждение общих финансовых вопросов, отраслевых тем и конкретных проблем соприкосновения различных участников финансового рынка.

Подведение итогов уходящего года, прогнозы для финансового сектора на ближайшую перспективу, обозначение общих и отраслевых трендов, которые могут повлиять на финансовую систему страны, предложения по новым законодательным инициативам для регулирования финансового сектора, передовой опыт и практика лучших российских и международных финансистов.

Конференции в рамках форума

Конференция № 1. Банковский форум
Конференция № 2. Рынки капитала
Конференция № 3. Мир фондов
Конференция № 4. Клуб финансовых директоров
Конференция № 5. Страховой рынок

Тематические круглые столы

Круглый стол № 1. Управление активами
Круглый стол № 2. Финансовый супермаркет
Круглый стол № 3. Реструктуризация долга корпораций
Круглый стол № 4. Новые перспективы финансовых рынков: основные пути глобального развития
Круглый стол № 5. Актуальные проблемы аудита в России
Круглый стол № 6. Банкротство: эффективные правовые решения для кредиторов и должника

Основные участники
Руководители Министерства финансов РФ, Центрального банка РФ, Министерства экономического развития РФ, ФСФР, ФССН, ФАС, Администрации Президента РФ, крупнейших государственных и частных банков, страховых компаний, пенсионных, инвестиционных фондов, профессиональных и отраслевых ассоциаций, депутаты Государственной Думы РФ, члены Совета Федерации РФ, финансовые директора российских и зарубежных корпораций, компаний реального сектора, консультанты, аудиторы, деловая пресса.

День первый

08:15 - 09:00. Регистрация участников

09:00 - 12:00. Первая пленарная сессия форума

От стабильного функционирования каждого сегмента финансового рынка целиком и полностью будет зависеть скорость выхода из кризиса и рецессии всей экономики России. С одной стороны, конъюнктура на внешних рынках будет оказывать давление на состояние системы, с другой стороны, это давление может быть ослаблено мерами по поддержке государством финансового сектора. Государству по силам значительно ослабить сжатие кредитного рынка и тем самым способствовать запуску механизмов кредитования, оживить потребительский спрос и инвестиции в реальный сектор. Какая конъюнктура ожидает нас на внешних рынках, каковы должны быть объемы рекапитализации банковской системы, как управлять процессами реструктуризации долгов, как будет влиять на бизнес банков все возрастающий объем непрофильных активов на их балансах, как запустить механизм предоставления синдицированного кредитования страховых компаний – темы для обсуждения первой пленарной сессии.

Модератор – Елизавета Осетинская, главный редактор, газета «Ведомости»

09:00 - 09:05. Олег Вьюгин -приветственное слово
09:05 - 09:10. Елизавета Осетинская - приветственное слово и регламент работы форума

09.10 - 12:00. Выступления с докладами

09.15 - 09:30. Олег Вьюгин, председатель совета директоров, МДМ Банк
09:35 - 09:55. Алексей Кудрин, министр финансов РФ
10:00 - 10:20. Алексей Улюкаев, первый заместитель, Центральный банк РФ
10:45 - 11:00. Петр Авен, президент, Альфа-Банк
11:05 - 11:20. Андрей Донских, председатель правления, банк «Уралсиб»
11:25 - 11:40. Владимир Дмитриев, председатель государственной корпорации «Банк развития и внешнеэкономической деятельности (Внешэкономбанк)»
11:45 - 12:00. Михаил Шамолин, президент, МТС

12:00 - 12:30. Кофе-брейк

12:30 - 14:15. Сессии конференций. Часть 1

14:15 - 15:00. Обед

15:00 - 16:45. Сессии конференций. Часть 2

16:45 - 17:15. Кофе-брейк

17:15 - 18:45. Дискусионные площадки

18:45. - Неформальное общение

День второй

По вопросам программы просим вас обращаться к руководителю проекта "Финансовый форум России" Юрию Сухорукову, по вопросам рекламы и спонсорства - к Екатерине Потаповой, по вопросам сотрудничества с профессиональными Ассоциациями - к Дарье Ефремовой, по вопросам информационной поддержки и аккредитации прессы - к Елене Фроловой по телефону (495) 232-3200, по вопросам участия – к Наталье Бондаревой по телефону (495) 956-2536

Annual business forum
RUSSIAN FINANCIAL FORUM
November 25 - 26, Ritz-Carlton Moscow
The forum is supported by the Ministry of Finances of the Russian Federation

Forum Creation Idea

A key event of this financial year in the conference market of Russia featuring a comprehensive discussion of general financial issues, industry topics and particular problems common for various financial market players.

Single brand. The main Forum objective is to combine under a single brand the best industry and professional Vedomosti newspaper conferences dedicated to financial sphere, in order to establish a unique event of the year and to gather the Russian financial society at the Financial Forum.

Synergy. The merger of conferences’ audience will positively influence the qualitative and quantitative composition of Forum participants. Innovative ideas will be discussed and adopted on the level of Russian financial regulators and business society.

“From the General to the Special” Program. A united plenary workshop will take place within the forum framework. Industry problems will be discussed at dedicated conferences. Cross-problems of different financial sectors will be addressed at round tables during the closing forum part.

What Will the Forum be About?
Summing up the expiring year results; forecasts for the financial sector for the nearest future; definition of common and specific trends that may affect the financial system of the country; proposals on new legislative initiatives for financial sector regulation; advanced practices and experience of the best Russian and international financial experts.

Participants
Principals of the Russian Ministry of Finance, Central Bank of the Russian Federation, Ministry of Economic Development of the Russian Federation, the Federal Service for Financial Markets, Federal Service for Insurance Supervision, Federal Anti-Monopoly Service, Administration of the President of the Russian Federation, largest state and private banks, insurance companies, pension funds, investment funds, professional and industry associations, financial directors of Russian and foreign companies, real sector companies, consultants, auditors, business press.

Forum Events

Industry conferences:
Banking Forum; Capital Markets; Insurance Market; World of Funds; Financial Directors’ Club

Discussion panels

FORUM AGENDA

November 25, 2009


08:15 – 09:00. Participants’ registration

09:30 – 12:00. Plenary workshop

The foundation of the post-crisis architecture of the Russian financial system is being laid today. What will the new financial system be like and what should it be like? Do anti-crisis measures of the government and business fully comply with the ideology of building an efficient economy? What will be the key risks for the financial system? How must they be distributed among the participants? How can relevant gears be started to provide efficient cross flow of capital to the real sector and back?
Plenary session participants will speak about Russian government and business priorities in defining further lines of Russian financial system reinforcement and financial services market development.

Moderator – Elizaveta Osetinskaya, Editor-in-Chief, Vedomosti newspaper

Speakers:
Alexey Kudrin, Deputy Chairman of the Government – Minister of Finances of the Russian Federation
Alexey Ulyukaev, First Deputy Chairman of the Central Bank of the Russian Federation
Peter Aven, President, Alfa-Bank
Oleg Vyugin, Chairman of the Board of Directors, MDM Bank
German Gref, President, Chairman of the Board, Sberbank of Russia
Vladimir Dmitriev, Chairman of the Board, Vneshekonombank
Andrey Donskikh, Chairman of the Board, URALSIB Bank
Mikhail Shamolin, President, MTS

12:00 – 12:30. Coffee-break

12:30 – 14:15. Conference workshops. Workshop 1

14:15 – 15:00. Lunch

15:00 – 16:45. Conference workshops. Workshop 2

Banking Forum Conference

Russian banking system is starting a new life: the Government views banks as the driving force, and it charged them to expand the financing of companies on security provided by the government. However, banks still have their problems with the quality of credit portfolios and these problems are increasing – as a consequence, with the decrease of bank capital. According to Fitch Agency estimations, the real level of problem debts by the end of the year will amount to 25% and significant inflows into banks’ capital will remain.
How can the current state of Russian banking sector be characterized? How will the requirement to increase the volume of crediting affect the banking business? What is the estimated amount of possible credit losses in the banking sector? Does the banking sector need any additional cash inflow from the government? Will banking sector securities attract investors in the mid-term?

Topics for discussion

Measures the government will take to support the banking sector

Critical risks for banking sector development in 2010

How will reorganization of credit portfolios realized in 2009 affect the banking business?

How will banking sector leaders build their strategy regarding corporate clients?

Direction of banking retail business development

Does mortgage lending have prospective in the coming years?

Will 2010 become a year of significant mergers and acquisitions in the banking sector?

What does labor efficiency in the banking sector depend on? Can the lag in comparison with the main foreign competitors be decreased?

Moderator – Alexander Khandruev, General Director, ‘Banks. Funds. Investments’ Consulting Group

Speakers:
Alexey Simanovsky, Banking Regulations Department Director, Central Bank of Russia
Mikhail Alekseyev, Chairman of the Board, UniCredit Bank
Perspectives of credit activity recovery in Russian banking sector
Khalil Kamalov, Board Member, Sekerbank T.A.S., Istanbul (Turkey)
The response of banking systems of Turkey and Kazakhstan to the global recession: lessons we should learn
Stuart Lawson, Chairman of the Board, HSBC
Perspectives of loan restructuring
Sergey Ozerov, Chairman of the Board, DeltaCredit mortgage bank
Mortgage promotion and keeping the market-oriented vector of its development
Alexander Sokolov, Board Member, Risks Analysis Department Director, VTB-24
Bank’s risks management during the post-recession period. What will the future bring? Avoiding mistakes of the past
Vladimir Tatarchuk, Deputy Chairman of the Board, Alfa-Bank
Ilya Yurov, Chairman of the Board, TRUST National Bank
Philippe Delpal, President, BNP Paribas Vostok; General Director, CETELEM Russia

Experts Conference:
Ekaterina Trofimova, Director, Ratings of Financial Institutions, Standard & Poor’s Paris Office
Natalia Orlova, Chief Economist, Alfa-Bank
Michael Matovnikov, General Director, Interfax-TSEA

Capital Markets Conference

After the stock markets collapsed, an era of investment strategies revaluation and capital allocation mistakes correction has come. How does the investment society estimate the current economic situation and potential of further capital markets development? Eluding inadequate risks assessment. How stable is Russian rouble? Influence of scheduled changes in the Russian financial legislation on market well-being. Financial instruments and tools that will become most popular during the next season.

Topics for discussion

Assessment of anti-recession measures by business and government representatives

Scenarios and forecasts of Russian market recovery. Can current capital inflow be considered as a sign of revival?

Risks of Russia’s dependence on foreign funding. Can Russian economy recover without foreign loans?

Perspectives of creating alternative reserve currency

A new model of financial markets regulation: entities and objects, concepts and facilities, limits of prohibitive measures. Innovations in global prudential supervision and Russian regulation initiatives. Idea of joined financial supervision in Russia: pro and contra

Crisis lessons: protecting a creditor/investor. Economic and legal issues. What can be and should be improved in existing legislation? Foreign experience

Measures against manipulation and inside. Objectives and experience

Russian stock market infrastructure: robustness test and further development

Conference moderators:
Alexey Timofeev, Chairman of the Board, National Association of Stock Market Participants (NAUFOR)
Sergey Aleksashenko, Director for Macroeconomic Research, State University — Higher School of Economics

Speakers:
Ruben Aganbegyan, General Director, Renaissance Capital Moscow
Vadim Belyaev, General Director, Otkritie Financial Corporation
Roman Goryunov, Chairman of the Board, RTS stock exchange
Konstantin Korishchenko, President, MICEX
Vladimir Milovidov, Manager, Federal Service for Financial Markets
Yuri Solovyov, President, VTB Capital
Andrey Sharonov, Managing Director, Troika Dialog Group

World of Funds Conference

The pension reform started back in 2002 has not produced the expected effect. The professional society had more and more reasonable doubts concerning the correctness of the chosen line with every new stare of the reform development. The financial crisis is making it even less possible to implement the reform as it has originally been designed. At the conference we are planning to consider the financial aspects of the national pension system state, evaluate the efficiency of replacing the unified social tax by an insurance contributions system in terms of the pension system development, propose amendments to the legislation, highlight the most interesting and successful non-governmental pension funds development strategies.

Moderator – Pavel Teplukhin, Managing Director, Principal Partner, Troika Dialog

Speakers:
Alexander Popov, Trust Management Department Head, Vneshekonombank
Yuri Sizov, Deputy General Director, Leader Management Company
Elena Sukhorukova, Executive Director, Blagosostoyanie non-governmental pension fund
Sergey Khhharlamov, Deputy Head, Federal Service for Financial Markets
Sergey Erlik, President, Lukoil Garant non-governmental pension fund

Financial Directors’ Club Conference

A deep recession and expectation of new storms charge the company financial director and financial department with new tasks related to bank loans restructuring, finding external funding sources to support production, as well as with creating a risk management system appropriate for the market, optimization of the treasury functioning, and further reduction of costs. The companies’ financial departments have already passed the crisis adaptation period and it is now time to search for efficient solutions.

Topics for discussion

Financial strategy for 2010. Choice and implementation of an optimal action plan for the changing economic situation.

Increase of financial service efficiency and optimization (including the treasury), in particular in part of company liquidity and its current assets management as well as efficient cost management

Balancing on the edge: management of receivables and payables in current market environment. Overcoming the problem of mass non-payments.

Issues of access to funding, lending against bank instruments as security, experience of working with foreign funding sources

Looking for new ways to cut costs

Experience of restructuring a company debt to loan entities

Efficiency and possibility to receive state support

Moderator – Vladimir Preobrazhensky, Deputy General Director for Economics and Finances, Chief Financial Director, SUEK

Speakers:
Roman Borisov, Financial Director, Re:Store
Alexey Zakrevsky, Vice-President for Financial Supervision, IES CJSC
Andrey Kulik, First Deputy Director for Economics and Finances, DVTG
Viktoriya Lubnina, Financial Director, Azbuka Vkusa
Oleg Moseyev, Financial Director, AvtoSpetsCenter Group
Igor Ozar, Deputy General Director for Corporate Finances, Sukhoi Company
Boris Podolsky, Chief Financial Officer, STS Media
Anton Khozyainov, Deputy General Director, Financial Director, Rostelecom

Insurance Market Conference

The peak of problems in the industry is expected this fall. Impairment of assets accepted to cover the insurance reserves, decrease of consumer demand, and shrinkage of the bank lending segment – as a result more and more insurance companies find themselves on the verge of bankruptcy. According to analysts’ forecasts the insurance market slump will be 8 to 18% by the end of the year. Property insurance sphere will face most significant losses, as well as comprehensive car insurance (‘KASKO’), voluntary health insurance and accident or illness insurance. Quick market shrinkage after the plentiful growth during the “corpulent years” is attended by tougher competition and an acute need to introduce progressive changes in the sphere of regulation. What do companies undertake in order to overcome the crisis and win the competitive struggle? Will forced introduction of new compulsory insurance types help the market recovery? Providing insurance companies’ liquidity by means of applying joint efforts of the government and the financial sector. The conference will be focused on all these and other issues important for the market players.

Topics for discussion

Situation in the insurance market in 2009. Development scenarios and forecasts for the coming year

What measures does business expect from the government to increase financial stability in the insurance sector? Will insurers be included into syndicated lending programs

Increasing competition. Low-balling and low-balling control. New aspects of anti-monopoly regulation

M&A: should we expect multiple mergers and acquisitions?

Insurance portfolio optimization. Anti-recessionary programs and products in the insurance market. Economic substantiation of rates

Compulsory civil liability motor-vehicle insurance (‘OSAGO’). What will be the effect of new amendments to legislation providing for an increase of health damage and life insurance payments limit

What guarantee instruments must be provided for policy holders in crisis environment?

Moderators:
Andrey Kigim, President, All-Russian Union of Insurers
Alexey Rozhkov, Finances Department reporter, Vedomosti newspaper
Speakers:
Sergey Almazov, General Director, VSK Insurance Company
Yulia Bondareva, Head of Department for Control and Supervision in the Financial Services Market, Federal Antimonopoly Service of the Russian Federation
Alexander Grigoryev, General Director, Ingosstrakh
Alexander Zaretsky, President, ALICO Insurance Company
Boris Jordan, President, Chairman of the Board, Renaissance Insurance Group
Andrey Kashevarov, Deputy Head, Federal Antimonopoly Service of the Russian Federation
Alexander Koval, Manager, Federal Insurance Supervision Service of the Russian Federation
Ilya Lomakin-Rumyantsev, Experts Department Head, Administration of the President of the Russian Federation
Nadezhda Martyanova, General Director, MAKS Group of Companies
Vladislav Reznik, Deputy, Financial Market Committee Chairman, State Duma of the Russian Federation
Alexey Savatyugin, Financial Policy Department Director, Ministry of Finances of the Russian Federation
Vladimir Skvortsov, General Director, AlfaStrakhovanie Group
Danil Khachaturov, President, Chairman of the Board, Rosgosstrakh
Hannes Shariputra Chopra, General Director, ROSNO

16:30 – 17:00. Coffee-break
17:00 – 18:30. Joint discussion panels and round tables

Joint discussion panels and round tables

Company Debt Restructuring

By early autumn banks and loan recipients have finished the first stage of overdue credit restructuring; negotiations of Mechel, GAZ and Rusal with their creditors have been finished successfully. However company debts to the banking sector are still huge. Many experts fear that Russian corporations will be unable to maintain the loans or even repay them and that will expose the whole banking system to risk. There are two possible ways out of the situation: both banks and loan recipients share the loss burden among each other and hence clean up their balance-sheets, or there should be assistance from the government.
The restructuring process has not been finished yet; its continuation may either be soft or dramatic. Perhaps both well-adjusted tools as well as nontrivial solutions will be used further – this is what the discussion will be dedicated to.

Moderators:
Dmitry Afanasiev, Partners’ Committee Chairman, Egorov Puginsky Afanasiev & Partners Law Offices
Sergey Bazoev, Partner, PricewaterhouseCoopers

Speakers:
Dmitry Afanasiev, Partners’ Committee Chairman, Egorov Puginsky Afanasiev & Partners Law Offices
Sergey Bazoev, Partner, PricewaterhouseCoopers
Dmitry Kushaev, Senior Managing Director, Marshall Capital Partners
Vladimir Potapov, Portfolio Manager, Director, Troika Dialog Management Company
Alexander Repritsev, General Director, WEB-Invest
Anthony Sacca, Chief Financial Officer, ROLF Group of Companies
Dmitry Stepanov, Partner, Egorov Puginsky Afanasiev & Partners Law Offices

Assets Management

Talking about asset management was meaningless just half a year ago. The condition of asset management industry looked sad against the background of liquidity shortage. But the situation is changing. Pension funds, insurance companies, and private investors need relatively safe while payable investment instruments. What do potential investors expect from investment companies? What can market offer them today?
All these issues will be addressed at the round table.

Topics for discussion

Asset management: what investment services are relevant in today’s environment

Investors’ expectations and managers’ capabilities: where is the golden mean

Financial markets instruments for institutional investors: new opportunities of assets management

Optimal investment strategies: what will turn out to be the growth points

Second crisis wave: should one beware of financial markets and what are the ways to avoid losses

Moderator – Alexey Golubovich, General Director, Arbat Capital – Asset Management

Discussion participants include:
Alexey Golubovich, General Director, Arbat Capital – Asset Management
Elena Loginova, General Director, Pioneer Investment Management
Alexander Pugach, General Director, Uralsib Management Company
Elena Kasyanova, General Director, Bank of Moscow Management Company
Anatoly Milyukov, Vice-President, Gazprombank
Andrey Dubinin, Chairman of the Board, General Director, Aviva Insurance Company
Alexey Goncharov, General Director, United Pension Administrator
Alexey Bespalov, Deputy Executive Director for Finances, Transneft Non-Governmental Pension Fund

Financial Supermarket

In recent years the retail banking business has been the most important driver of banking sector growth. The situation changed sharply during the crisis: mortgage practically disappeared, car and consumer credit volumes decreased. Banks were forced to correct their retail strategies. New game rules appeared in the market: the scale of new loans granting was considerably restrained, interest rates were increased and requirements to loan recipients were toughened. The management of lending institutions focused on collecting overdue debts and changing its trend to a positive one is expecting that the situation with liquidity will be cleared. In the environment of resources shortage one should not expect quick increase of retail credit portfolios from banks. However it seems that changes are about to come…

Moderator – Andrey Lapko, Board Member, Vice-President, Bank of Moscow

Speakers:
Ilya Filatov, Deputy Chairman of the Board, URALSIB Bank
Alexey Marey, Manager of Retail Business, Alfa-Bank
Alexey Korovin, President, Chairman of the Board, OTP Bank
Oleg Grishin, Member of the Board, Vice-President, Petrocommerz Bank
Maxim Druzhinin, Retail Business Director, Rosbank
Vladimir Gasyak, Deputy Chairman of the Board, Home Credit Bank

New perspectives of financial markets: main global development lines

Classification of changes and main trends in communications strategy of financial institutes, definition of key reputation risks and new tools of communication with target audiences in the long term. Considering new approaches to reputation management of financial companies. The discussion is based on a report by Alexander Gorin, Managing Director of the Moscow Office of Accenture, according to the results of the company international research and analysis of main trends and perspectives of financial markets development before 2012 - 2015.

Topics for discussion and debates

Financial sector development trends and their manifestation degree

A forecast of financial institutions’ response to new development conditions

The problem of consumers’ confidence and new tools of client loyalty management

Changes in the formats and methods of financial institutions’ communication with target audiences

Focus switch-over from projects to clients

New approaches to the development and implementation of a communication strategy

New approaches to corporate reputation management



Moderator:
Alexander Gorin, Managing Director, Accenture
Boris Firsov, Senior Partner, Managing Director, Mikhailov & Partners. Strategic Communications Management

Discussion participants:
Angela Gracheva, Vice-President, URALSIB Bank
Maria Zhog, PR Director, Troika Dialog Group of Companies
Leonid Ignat, Vice-President, Alfa-Bank
Tatiana Ivkina, PR Director, Alianz-ROSNO
Pavel Nefedov, PR Director, MDM Bank
Valery Zinchenko, Vice-President, Nomos-Bank
Ekaterina Sharapova, PR Department Director, Allianz-ROSNO



18:45 – 20:45. Reception for forum participants


November 26, 2009

Immediate Issues of Audit in Russia

Self-regulation in the Audit Market.
The new Federal Law No.307-FZ “On Audit Activity” dated 30.12.2008 No.307-ФЗ initiated the formation of a new model of the auditing services market. Changing the law concept the lawmakers wish to increase the status and authority of the auditor’s profession in Russia.
Will the self-regulation concept soon result in market cleanup from “black” auditors and dead-born companies, prevention of unfair competition and, finally, in considerable increase of audit utility value for the users of auditing services?

Audit during the recession.
The law is being implemented during the crisis. The amount of accounts receivable is growing, clients refuse to overpay companies for the brand, demand for particular audit types is decreasing, and the marketing and financial policy of audit companies is changing. What measures are taken by audit companies? What is the role of self-regulating organizations in overcoming the crisis from the viewpoint of auditors and users of auditing services?

Confidence of reports’ users in the auditor’s opinion. Who trusts that opinion? Why?
Does the report confirmed by an auditor permit to adequately judge the company’s financial status? Overcoming the crisis of confidence in the auditor’s opinion. What is the role of SRO in the dialog between auditors, market players and regulators?
Overcoming the contradiction between the society demand for up-to-date independent financial information about current and future state of the company and the auditors’ confirmation of financial reports about the previous day.

Moderator – Daria Dolotenkova, President, Institute of Professional Auditors


Participation fee
1 company representative − 25,000 roubles (without VAT)
2 company representatives − 23,500 roubles per person (without VAT)
3 and more company representatives − 22,000 roubles per person (without VAT)

Registration:
Natalya Bondareva, n.bondareva@vedomosti.ru, phone +7 495 232-32-00 ext. 1558

Be in a hurry to register!
We will be happy to see you at the conference!

Sincerely,
Yury Sukhorukov,
Project Manager, Vedomosti Conferences Department.
------------------------------------------------
Phone: +7 495 232 3200 ext. 1061,
Fax: +7 495 232 1785,
E-mail: su@vedomosti.ru