E X P A N D I N G H O R I Z O N S

To equip local practitioners with Asia-relevant leadership capabilities, MAS will be launching a new Asian Financial Leaders Programme (AFLP) later this year for Singaporeans who aspire to take on regional or global leadership positions. Through the AFLP, participants will be able to learn from regional policy-makers, as well as interact with fellow financial sector leaders from other countries.

Excerpt of Speech by

THARMAN SHANMUGARATNAMDeputy Prime Minister and Chairman, Monetary Authority Of Singapore, at Institute of Banking and Finance 40th Anniversary Dinner on 10 June 2014

We want to create a pipeline of Asian finance leaders who understand Asia and can lead Asian financial institutions. The AFLP will equip finance professionals aspiring to take on C-suite roles in Asian financial institutions with the knowledge to navigate the diverse business, regulatory, and legal environment in the region. Combining academic rigour with industry insights, the programme will cover key issues in finance from a global as well as Asian perspective. We look forward to the launch of the AFLP.

RAVI MENON Managing Director of Monetary Authority Of Singapore (MAS)

Given our growing trade and financial networks within ASEAN, and with China and India, Singapore is in a unique position to develop deep pools of knowledge of these regions. SMU is honoured to participate in this endeavour led by MAS to groom senior executives of financial institutions. Leveraging our University’s academic knowledge and expertise in Asian insights, this programme will enhance the participants’ ability to implement effective strategies in Asia. We are also proud to partner with TMS on this project.

ARNOUD DE MEYER President of Singapore Management University (SMU)

We are honoured to have been awarded this mandate by MAS jointly with SMU, and to have the opportunity to create a meaningful impact on the future of the Asian financial sector. The AFLP aligns perfectly with TMS Academy’s mission of developing Asian business leaders.

TAN CHIN NAM Chairman of Temasek Management Services (TMS)

The Asian Financial Leaders Programme (AFLP) provides critical insights for senior-level executives in the financial sector to lead and grow their financial institutions. It also incorporates global and regional perspectives aimed to strengthen participants’ abilities to understand the complexities of both regional and global economic landscapes.

Programme Overview and Features

Module 1 of AFLP will take place from 23rd to 26th November 2015 in Singapore. The programme spans 22 days over a ten-month period. It consists of a highly customised content for Asian financial sector, which leverages cutting-edge knowledge from world-class faculty. The programme includes visits to companies, meetings with practitioners and regulators in various geographies. AFLP provides excellent global and pan-ASEAN networking opportunities. Each participant will receive certificates from TMS-SMU Singapore, IMD Switzerland and The Wharton School USA.

Who Should Attend?AFLP is targeted at senior-level Asian financial leaders: C minus 1, C minus 2 executives who are on the path to leading financial institutions in a variety of sectors including banking, insurance, investments, policy, regulatory and private equity.

Some of the AFLP Locations...

AFLP Programme Journey

Macro Trends in Asia, Leadership & Technology Overview of macro trends

impacting financial institutions and services in Asia

Provides a broad strategic framework that lays the foundation for subsequent modules

PRE-PROGRAMME ACTIVITIES

LAUSANNE, SWITZERLAND 30 MAY – 2 JUNE 2016 MODULE 2A

Global Trends, Corporate Governance & Wealth Management Understand magnitude of

transformation programmes required to deal with enormously changed circumstances impacting the industry

Consider the structural forces shaping our world, the reach of government through its agent regulators, and bold new entrants with the risks and opportunities this brings

Growth Strategies, Risk & Alternative Investments Understand what finance leaders

need to master in order to achieve profitable growth:

• The global competitive landscape, current opportunities and future disruptions

• Executing successful growth strategies

• Redefining risk and alternative investments for the future

Technology, Leadership & Service Excellence for Growth Examine how financial institutions

can leverage on internal capabilities to compete effectively and profitably in the market:

• Service innovations • Technology advancements • Leadership development

Examine why leadership and strategic thinking are crucial to respond to challenges

Leadership development • Developing individual leadership

style, grooming talent in finance industry, managing cross-cultural teams

Strategic management of financial institutions

• Strategic management and execution in high-performing financial institutions

• Development of critical thinking skills of senior management teams

Operating & Regulatory Environment, SE Asian Markets Overview of operating, regulatory

trends and risks for financial institutions to operate profitably in SE Asian markets

Examine opportunities in emerging markets in SE Asia for new businesses, including infrastructure financing, Islamic finance and micro-finance

Operating & Regulatory Environment, China Market Overview of operating, regulatory

trends and risks for financial institutions to operate profitably in Chinese markets

Understand key emerging trends of the Chinese economy

Examine underlying risks associated with shadow banking, non-performing loans to state enterprises, asset bubbles and internationalisation of RMB

BEIJING, CHINA 25 – 27 JULY 2016 MODULE 3B

JAKARTA, INDONESIA 20 – 22 JULY 2016 MODULE 3A

SINGPORE 26 – 29 SEPTEMBER 2016 MODULE 4

SINGAPORE 23 – 26 NOVEMBER 2015 MODULE 1

ASIA

SINGAPORE 4 + 4 days

CHINA 3 days

INDONESIA 3 days

USA 4 days

SWITZERLAND 4 days

EUROPE & USA

ASEAN & CHINA

PHILADELPHIA , USA 6 – 9 JUNE 2016 MODULE 2B

Brief Description of Programme Modules

MODULE 1 Singapore, 23 – 26 November 2015

MACRO TRENDS IN ASIA, LEADERSHIP & TECHNOLOGYModule 1 gives participants a broad overview of the macro trends impacting financial institutions and services in Asia, and explains why leadership and strategic thinking are crucial to respond to the challenges ahead. The module sessions by industry experts will outline macro trends in patterns of economic development affecting Asian financial markets, regulatory changes, role of government, technology innovation with a special focus on China and the evolution of the new Asian consumer. Financial sector leaders and leading academics will facilitate discussions on the strategic responses expected of leadership, governance of financial institutions, and how leaders should effectively execute their strategies and communicate across cultures in order to achieve the desired strategic outcomes for their institutions.

Module 1 offers a broad strategic framework that lays the foundation for more detailed discussions of specific professional aspects, management and markets in subsequent modules.

MODULE 2A IMD, Lausanne, Switzerland, 30 May – 2 June 2016

GLOBAL TRENDS, CORPORATE GOVERNANCE & WEALTH MANAGEMENTThe Europe Module aims to expand the participants’ global perspectives. Through a series of immersive experiences, using best-practice case studies and research from the faculty drawing on their experience of financial institutions around the world as well as visits to financial institutions, participants will be encouraged to formulate a coherent world-view that accommodates a vision for financial services twenty years from now.

They will be able to appreciate the magnitude of transformation programmes required to deal with enormously changed circumstances impacting the industry and have the opportunity to consider the imposing structural forces shaping our world, the much-evolved new needs of consumers and customers, the reach of government through its agent regulators and indeed bold new entrants with the attendant risks (including crime) and opportunities (for value creation) this brings.

MODULE 2B The Wharton School, Philadelphia, USA, 6 – 9 June 2016

GROWTH STRATEGIES, RISK & ALTERNATIVE INVESTMENTS The Wharton Module will continue to develop the theme of Expanding Horizons explored in the Singapore and Europe modules. Much more is expected of today’s finance leaders than just mastery of finance and accounting fundamentals in the face of increasing cost pressures, shifting competitive landscapes, and higher regulatory scrutiny. In the volatile business world of today, successful finance leaders must now act as both strategic advisors and drivers of growth within their organisations.

Achieving profitable business growth increasingly is tied to these finance leaders understanding the global competitive landscape, current opportunities in financial services, future disruptions poised to transform the industry, executing successful growth strategies, and redefining risk and alternative investments for the future.

The Wharton faculty will lead highly interactive and engaging approaches in the programme including lectures, small group discussions, case-studies, networking opportunities, and learning-oriented visits to leading American financial institutions.

MODULE 3A Jakarta, Indonesia, 20 – 22 July, 2016OPERATING & REGULATORY ENVIRONMENT, SE ASIAN MARKETS This module provides a comprehensive overview of the operating and regulatory environment of emerging SE Asian countries. A good understanding of the operating and regulatory environment is critical for financial institutions to operate profitably in financial markets. Country experts will discuss the major trends developing in these markets and the associated operating risks. These risks are related to political dynamics, demography, religious tensions and transparency of regulatory frameworks. Participants will actively evaluate the magnitude of these risks and their likely impact on the financial sector. Although there are inherent risks, emerging markets provide tremendous opportunities for entry into new businesses, including infrastructure financing, Islamic finance and micro-finance. Roundtables with financial institutions and regulators will provide first-hand knowledge and appreciation of the risk and opportunities of entering these markets.

MODULE 3B Tsinghua University School of Economics and Management, Beijing, China, 25 – 27 July 2016OPERATING & REGULATORY ENVIRONMENT, CHINA MARKET China has recently leapfrogged ahead of Japan as the world’s second largest economy. However, with the recent slowdown in their economy, Chinese policymakers are contemplating structural reforms which portend significant risks for financial institutions operating in China as well as in Asia. This module identifies the key emerging trends of the Chinese economy, possible areas of restructuring and the underlying risks associated with shadow banking, non-performing loans to state enterprises, and asset bubbles. While the Chinese authorities have imposed macro-prudential measures to achieve a soft-landing for over-heated asset markets, their impact on financial markets have repercussions that need careful analysis. Country experts will discuss the impact of such measures and the likelihood of further measures to reign in asset bubbles. Another theme for discussion is the globalisation of the Chinese RMB. As financial markets become more globally connected, the likelihood of global and regional crises occurring has increased significantly. Developing an effective recovery and resolution framework allows banks to react quickly to crises and rescue profitable segments of business to ensure rapid restoration of confidence and reputation. The module ends with two roundtable discussions with Chinese financial institutions and regulators from Bank of China to get first-hand knowledge and appreciation of the risk and opportunities of operating in Chinese financial markets.

MODULE 4 Singapore, 26 – 29 September 2016TECHNOLOGY, LEADERSHIP & SERVICE EXCELLENCE FOR GROWTH Module 4 focuses on how financial institutions can leverage on their internal capabilities to compete effectively and profitably in financial markets. These internal capabilities include service innovations, corporate branding, technology and leadership. In an intensely competitive environment, financial institutions can command a premium if they have the requisite branding for their products and services. Basel III and other global regulatory changes impose new challenges for liquidity and risk management. Effective asset-liability management provides financial institutions a strategic advantage in managing risk and pricing of financial products. This module also examines how technology can be leveraged to deliver superior products and services. Financial institutions can use data analytics to better customise solutions for customers, best-source to create cost advantage, exploit social media and digital media to better serve customers. The digital age also exacerbates the impact of cyber-security breaches. This module looks at scenarios where breaches can occur and how they can be mitigated. Ultimately, what enables financial institutions to adjust, adapt, respond quickly and appropriately to frequent changes in the environment is strong leadership. This module will also provide insights into corporate leadership and grooming talent for regional and global expansion.

Institute for Corporate Governance, he has worked extensively on issues of Corporate Governance, Financial Regulation, and International Valuation.

Professor Bris ranks among the top one hundred most-read social scientists in the world. He graduated in Law and Economics from Universidad Autónoma de Madrid, and received an MSc. from CEMFI (Foundation of the Bank of Spain). He holds a Ph.D. in Management from INSEAD.

RICHARD J. HERRING is Jacob Safra Professor of International Banking and Professor of Finance at The Wharton School, University of Pennsylvania, where he is also founding director of the Wharton Financial Institutions Center. He is the author of more than 150 articles, monographs and books on various topics in financial regulation, international

banking, and international finance. He is co-chair of the US Shadow Financial Regulatory Committee and Executive Director of the Financial Economist’s Roundtable. He is also a member of the FDIC Systemic Resolution Advisory Committee, the Systemic Risk Council and the Hoover Institution Working Group on Resolution Policy and serves as an outside director on the boards of Barclays Bank Delaware, Deutsche Funds and the Aberdeen Singapore and Japan Funds.

Herring received his undergraduate degree from Oberlin College in 1968 and his Ph.D. from Princeton University in 1973.

MAURO F. GUILLÉN is the Director of the Joseph H. Lauder Institute at Penn, a research-and-teaching program on management and international relations. He holds the Dr. Felix Zandman Endowed Professorship in International Management at The Wharton School and a secondary appointment as Professor of Sociology in the Department of Sociology of the University

of Pennsylvania. He previously taught at the MIT Sloan School of Management. He received a Ph.D. in sociology from Yale University and a Doctorate in political economy from the University of Oviedo in his native Spain. He is a member of the advisory board of the Escuela de Finanzas Aplicadas (Grupo Analistas), and serves on the World Economic Forum’s Global Agenda Council on Emerging Multinationals.

SEÁN MEEHAN is the Martin Hilti Professor of Marketing and Change Management at IMD, Lausanne, Switzerland. He joined IMD in 1997 and since then he has designed and delivered management development programs for companies such as MasterCard International, PWC, Swiss Re.

Professor Meehan commenced his career with Arthur Andersen & Co. serving clients in Oil and Gas, Media, Retail and Financial Services. He is a Certified Public Accountant (Mass). Prior to undertaking doctoral studies at London Business School, he was director of Marketing at Deloitte.

DIDIER COSSIN is the director of IMD Global Board Center. He works with senior leaders, executive committees and boards to provide the latest thinking on best-in-class governance, risk and opportunity optimisation, investment selection and strategy design.

Professor Cossin is an advisor and/or executive teacher with the United Nations, central banks of several countries, the boards or executive committees of corporations, financial institutions and funds in Europe, Asia and the Middle East. Professor Cossin holds a Ph.D. from Harvard University (Robert C. Merton Chair) and is a former Fulbright Fellow at the Massachusetts Institute of Technology, Department of Economics (USA). He is a former student of ENS rue d’Ulm (France) and holds master degrees from Sorbonne University and EHESS (France).

NEO BOON SIONG is Chairman of the Nanyang Executive Education and former Dean of the Nanyang Business School, Nanyang Technological University, Singapore. Prior to joining the University, he held professional and management positions in Hewlett-Packard and Shell Petroleum companies in Singapore.

Professor Neo is a leading expert in public sector governance, business strategy, process management and organisational change. He has advised many major corporations, facilitated strategy workshops, and led management development programs for government leaders and global enterprises. He has conducted well-received executive programmes, facilitated strategic planning workshops, and advised senior managers of many organisations, including Citibank, UBS, AXA, MayBank, China Construction Bank, Temasek Holdings, DBS Bank, UOB, OCBC Bank, and the Monetary Authority of Singapore.

SALVATORE CANTALE is Professor of Finance at IMD. His major research and consulting interests are in value creation, valuation, and the way in which corporations structure liabilities and choose financing options. Additionally, he is interested in the relation between finance and leadership, and in the leadership

role of the finance function.

He has published in international double-refereed journals. One of his research papers, “Bank Capital Requirements and Managerial Self-Interests,” was nominated for an Outstanding Paper Award at the Southern Finance Association.

Salvatore holds a BA in Economics and Finance from Universita’ di Catania, Italy, and a Master’s Degree in Management and a Ph.D. in Finance from INSEAD.

NIHAT BÜLENT GÜLTEKIN is a professor at the Finance Department of The Wharton School. He is the former Governor of the Central Bank of the Republic of Turkey. He received his BSc. degree in Mechanical Engineering from Robert College, Istanbul, has a Master of Business Administration degree from

Bogazici University, Istanbul, and a Ph.D. in Finance and Statistics from The Wharton School, University of Pennsylvania, Philadelphia. He joined the Finance Department of The Wharton School in 1981.

He has published extensively in scientific journals on economics, banking, corporate finance, capital markets, privatisation, and economics of transition to market economies, and taught at various executive education programs all around the world. He served as the President of the European Finance Association in 1989. He has advised a number of governments, government agencies, and policy makers.

BENEDICT KOH is Professor of Finance (Education) and Associate Dean of the Lee Kong Chian School of Business at the Singapore Management University (SMU). Prior to joining SMU, he was Vice Dean and Associate Professor of Finance and Accounting at the National University of Singapore (NUS) Business School. He graduated with a Ph.D. in Finance from The Wharton School of the University of Pennsylvania.

Benedict started his academic career with NUS in 1985. Prior to joining the academia, he was a corporate banker at the Chase Manhattan Bank N.A.

Some organisations that he had consulted or conducted training programmes for include the ABN-AMRO bank, Allianz, Capitaland, Citibank, DBS Bank, EDB, GE Life, GIC, Hong Leong Group Bhd, IBM, ING Bank, Swiss Reinsurance, UBS and Visa.

ARTURO BRIS is Professor of Finance at IMD. Prior to joining IMD, he was the Robert B & Candice J. Haas Associate Professor of Corporate Finance at the Yale School of Management (USA). A Research Associate of the European Corporate Governance Institute, and a member of the Yale International

Programme Faculty

ABOUT TMS AND TMS ACADEMY

Temasek Management Services (TMS) is a fully-owned subsidiary of Temasek Holdings and a well-established name in the development of Asian leaders through its various entities including the Wealth Management Institute, Stewardship Asia Centre, Business Leadership Centre and TMS Academy.

TMS Academy is the integrated leadership development arm of TMS that is dedicated to the mission of developing Asian business-leaders and supporting the building of organisational capabilities to develop senior-level talent. It offers a wide range of high-impact, practice-oriented open programmes and customised solutions in partnership with some of the finest institutions, and critical insights for executives.

www.temasekmanagementservices.com.sg/tms_academy

HOW TO APPLY ?• Please write to programmes@tmsacademy.com.sg

for an application form or download it from www.tmsacademy.com.sg

• Please attach your updated resume along with the completed application form and send to programmes@tmsacademy.com.sg

PROGRAMME FEES• The fee is S$46,000 (before GST) per participant.

• Fee for Singapore citizens, who are employees of Financial Institutions and are sponsored by their organisations, is only S$4,600 (before GST) per participant after a 90% subsidy from The Financial Sector Development Fund (FSDF)

APARNA DOGRA aparnadogra@tmsacademy.com.sg +65 6828 2121 www.tmsacademy.com.sg www.temasekmanagementservices.com.sg

SANDHYA KARPE sandhyakarpe@tmsacademy.com.sg +65 6828 2228 www.tmsacademy.com.sg www.temasekmanagementservices.com.sg

BENEDICT KOH skkoh@smu.edu.sg +65 6828 0716 www.smu.edu.sg

CONTACT US

ABOUT SMU

Singapore Management University (SMU) is internationally recognised for its world-class research and distinguished teaching. Established in 2000, SMU’s mission is to generate leading-edge research with global impact and produce broad-based, creative and entrepreneurial leaders for the knowledge-based economy. SMU education is known for its highly interactive, collaborative and project-based approach to learning, and for its technologically enabled pedagogy of seminar-style teaching in small class sizes. Comprised of six schools specialising in Accountancy, Business, Economics, Information Systems, Law and Social Sciences, it offers a wide range of bachelors’, masters’ and PhD degree programmes and is home to 8,800 students. With an emphasis on generating relevant multi-disciplinary research that addresses Asian issues, and being Singapore’s only university in the city, SMU enjoys strategic linkages with business, government and the wider community through its research institutes, centres and labs.

www.smu.edu.sg

Read the AFLP press release at www.temasekmanagementservices.com.sg/media/aflp.pdf

All details of the programme are correct at the time of printing. TMS and SMU reserve the right to cancel or postpone the programme, change the venue or any of the other details published.