Financial Services Forum
The Financial Services Forum is a non-partisan financial and economic policy organization comprising the CEOs of 18 of the largest and most diversified financial services institutions doing business in the United States.[1]
Recent News
On November 25th, 2012, Bloomberg TV interviewed The Financial Services Forum President and CEO Rob Nichols, where he discussed the fiscal cliff, the financial sector's relationship with the Administration, and ongoing implementation of the Dodd-Frank Act. [2]
Mission
The Financial Services Forum (which should not be confused with the United Kingdom's Financial Services Forum),[3] is a non-partisan financial and economic policy organization comprising the CEOs of 18 of the largest and most diversified financial services institutions doing business in the United States.
The purpose of the Forum is to pursue policies that encourage savings and investment, promote an open and competitive global marketplace, and ensure the opportunity of people everywhere to participate fully and productively in the 21st century global economy.
As a group, the Forum's member institutions employ more than 2 million people in 175 countries and hold combined assets of more than $21 trillion—an amount greater than the annual economic output of the United States, China and the United Kingdom combined.
Brian Moynihan, Chief Executive Officer of Bank of America, is the Forum’s chairman.
Rob Nichols, former assistant secretary for public affairs at the U.S. Treasury Department, serves as the Forum's president and CEO.[4]
Also, the Forum is the chairing institution of the Engage China Coalition, a coalition of twelve financial services trade associations.
Origin of the Forum
The Financial Services Forum was organized by a core group of financial institution CEOs in February 2000 following the enactment of the Gramm-Leach-Bliley Financial Modernization Act of 1999 (GLBA).
Issues
Issues comprising the Forum’s recent agenda include: reform and modernization of the U.S. framework of financial supervision;[5] enhancing the competitiveness of U.S. capital markets; educating policymakers regarding the importance of private capital in fueling economic growth and development around the world; preserving the 50-year consensus for free trade by promoting policies that help more Americans participate in the gains of globalization; financial sector modernization and expanded market access in China; CFIUS reform and encouraging cross-border investment; and litigation and tax policy reform.
Members
- AIG, Robert Benmosche
- Allstate Insurance Company, Thomas Wilson
- Bank of America, Brian Moynihan
- BNY Mellon, Gerald Hassell
- Citigroup Inc., Michael Corbat
- Deutsche Bank AG, Anshu Jain
- Edward Jones, James D. Weddle
- Fidelity Investments, Abigail Johnson[6]
- GE Capital Corp., Keith S. Sherin
- Goldman Sachs, Lloyd C. Blankfein
- HSBC, Douglas Flint
- JP Morgan Chase & Co., James Dimon
- MetLife, Steven Kandarian
- Morgan Stanley, James P. Gorman
- Prudential Financial, John R. Strangfeld
- State Street Corporation, Jay Hooley
- UBS AG, Sergio Ermotti
- Wells Fargo, John Stumpf
References
- ↑ Kuhnhenn, Jim (7/6/2009) Obama plan could trim back financial powerhouses Associated Press
- ↑ Bloomberg News “Capitol Gains” (25/11/2012) Bloomberg News
- ↑ About UK Financial Services Forum The Financial Services Forum
- ↑ 2. Lerer, Lisa (11/25/2008) Economic team uses ‘data-driven approach’ Politico
- ↑ Indiviglio, Daniel (3/6/2009) Ramping Up Regulation Forbes
- ↑ Healy, Beth. "Abigail Johnson, after years of training, gets to put her stamp on Fidelity". The Boston Globe. Retrieved 5 December 2014.