guest speaker and panellists’ background - insead · desclée de brouwer, paris, 2009); role of...

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25th Sustainability Executive Roundtable

Finance & Ethics

11 March 2011

INSEAD Europe Campus

Guest Speaker and Panellists’ Background


Thomas Huertas

Director, Banking Sector Financial Services

Authority

Thomas F. Huertas is Director, Banking Sector at the Financial Services Authority (UK). He is also Alternate Chairperson of the European Banking Authority (EBA), where he will carry out the functions of the Chairperson-elect in his absence. He is also a member of the Basel Committee on Banking Supervision and a Member of the Financial Stability Board’s Steering Group on Resolution. Prior to joining the FSA in 2004, Tom held a number of senior positions in Citigroup, including Chairman and CEO of Citibank Germany AG and Country Corporate Officer for Switzerland. He has published extensively on banking issues, including the recent book, Crisis: Cause, Containment and Cure. He holds a Ph.D. in economics from the University of Chicago and is guest lecturer in finance at the Johann Wolfgang von Goethe University in Frankfurt, Germany.

Robert-Jan

van de Kraats

Vice Chairman of the Executive Board and Chief Financial Officer

Randstad Holding

NV

After finishing secondary school in 1979, he joined Deloitte Dijker van Dien (PricewaterhouseCoopers) as an auditor. He worked on audit assignments in various sectors, domestic and international. He became a qualified Chartered Accountant in the Netherlands (NIVRA, 1990) and various courses in Finance and Management (including INSEAD AMP) would follow. Robert-Jan van de Kraats continued his career at Grundfos, a Danish privately held group of companies in the technology sector, in 1989. He was appointed Director of Finance and IT of Grundfos’ subsidiaries in the Netherlands and was involved in a variety of international projects related to the implementation of ERP programs. He also was responsible for HR. Four years later, he was recruited for a position as Director of Finance and IT of NCM International nv, part of the international credit insurance group NCM. In 1995, he became Group Director Business Development with the assignment to develop a new strategy and to define ways to significantly improve the performance of the group. Furthermore, in 1996, he was appointed CFO & Group Director Corporate Development audit, investor relations and shared service centers for the Group. In addition he is responsible for Yacht Netherlands and our operations in Japan. Robert-Jan van de Kraats has been appointed vice-chairman of the Executive Board in 2006. In 2004, he joined the Supervisory Board of Ordina nv, a listed ICT company. In 2006, he joined the Supervisory Board of SNS REAAL, a listed Dutch banking and insurance service provider. Robert-Jan van de Kraats has two children.


Sebastian Grigg

Managing Director

Credit Suisse

Sebastian Grigg attended Insead in 1990-91 and lived in Moret. After Insead he worked briefly for L'Oreal, then for Lazard, and then for Goldman Sachs. He contested (and lost) a UK parliamentary seat at the 1997 General Election while working as an Associate at Goldman Sachs. He joined Credit Suisse in 2007 as Head of UK Investment Banking and was part of the Credit Suisse team that advised Her Majesty's Treasury on the recapitalisations of RBS and Lloyds Bank in 2008-09. He is married with five children and lives in London.

David Shirreff

Business Correspondent The Economist

David Shirreff joined The Economist in March 2001 as Capital Markets Editor and in September 2003 moved to Frankfurt to cover German business and finance. Previously he has written for Euromoney, Risk, The Wall Street Journal and Middle East Economic Digest. David's book, "Dealing with Financial Risk", was published by Profile Books in June 2004. He has been interviewed on international TV, including CNBC, and has moderated panels on various topics in both English and German.

Bertrand Fournier

President FIR (FrenchSif)

Bertrand Fournier is President of the Executive Board (Président du Directoire) of LFP Sarasin AM, an asset management company specialising in socially responsible investments (SRI). . He is also President of FIR (the FrenchSif). Bertrand Fournier began his career in 1977 with Indosuez Private Bank as product marketing manager. Later in 1986, he joined Fimagest as Secretary General before becoming Deputy CEO of La Henin Vie in 1991. In 1993, he became CEO of Union Franco Suisse d’Assurance-Vie (Group Swiss-Re). Following its take-over by PFA Vie, he became Networks & Partnerships Director and a member of the Executive Committee of this life insurance company. In 1998, Bertrand Fournier returned to asset management (Rothschild & Cie Gestion, Cyril Finance) prior to founding, in 2003, Sarasin Asset Management France, the French subsidiary of Bank Sarasin. Sarasin Asset Management has consistently focused on Socially Responsible Investments targeted to institutional investors. Bertrand Fournier holds a Management Degree from Paris IX Dauphine University.


J. Frank Brown

Former Dean INSEAD

J. Frank Brown is former Dean of INSEAD, the leading international business school with campuses in Europe, Asia and the Middle East. He has been Dean since 2006 and completes his term this year, and will become Managing Director at General Atlantic in June 2011. Prior to joining INSEAD, Brown had a distinguished 26-year career at PricewaterhouseCoopers, including leadership of the $3.5 billion Advisory Services practice. During this time, he developed leadership programmes within the firm and was a guest speaker on the subject at various universities and business schools. Brown is the author of The Global Business Leader: Practical Advice for Success in a Transcultural Marketplace. He is a member of the American Institute of Certified Public Accountants and the New York, New Jersey and Connecticut State Societies of Certified Public Accountants. He is also a member of the European Academy of Business in Society (EABIS) Board, the European Executive Council (EEC), the International Advisory Board (IAB) of British American Business (BAB), and the Transparency International Business Advisory Board. Brown received his B.S.B.A. from Bucknell University. Before becoming Dean, he served as a member of the INSEAD Board and as Chairman of the school's US Council.

Bernard Sinclair-

Desgagné

International Economics and Governance chair, Chairman of the International Business department HEC Montréal

Bernard Sinclair-Desgagné is the International Economics and Governance chair and Chairman of the International Business department at HEC Montréal, a Fellow of CIRANO and an Affiliate Professor at the École polytechnique de Paris. Previously, he was for several years a faculty member of INSEAD and the École polytechnique de Montréal. He holds a PhD in Management science/Operations research from Yale University. His main research areas are the economics of incentives and organization, environmental economics, risk management, and environmental innovation. His publications can be found in major journals such as Econometrica, Management Science, the Journal of

Environmental Economics and Management, the Journal of

Regulatory Economics, and the Journal of Law, Economics and

Organization. In 2004, he was nominated a Fellow of the European

Economic Association. In 2006, he won (with co-author Pauline Barrieu of the London School of Economics) the Finance and Sustainability European Research Award for the article “On Precautionary Policies” published in Management Science. He is currently an associate editor of Resource and Energy Economics

and the International Review of Environmental and Resource

Economics.


Paul H. Dembinski

Executive Director Observatoire de la

Finance

Paul H. Dembinski, economist and political scientist by training, educated in Poland, in Switzerland, in Cameroon and in the UK (St Anthony College, Oxford). Dembinski is Professor at University of Fribourg where he teaches International Competition and Strategy. Initiator and Executive Director of Foundation of the Observatoire

de la Finance (1996) which mission is to promote awareness of ethical concerns in financial activities and the financial sector. Paul H. Dembinski is also the editor of the French/English scientific journal Finance & the Common Good/Bien Commun

(1998). Amongst the latest books: Enron and the World of Finance:

A case study in ethics (co-editor, Palgrave, London, 2005); Finance: Servant or Deciever? (in French by Desclée de Brouwer, Paris, 2008; in English by Palgrave, London 2009, in Spanish by Piramide, 2010, in Polish – in preparation)); Pratiques financiers –

regards chrétiens, (editor. Desclée de Brouwer, Paris, 2009); Role

of Large Enterprises in Democracy (co-editor), Palgrave, London, 2010. Born in Cracow, Poland, in 1955, Paul H. Dembinski is married with three grown-up children.

Laurence

Méhaignerie

President

Citizen Capital

Laurence Méhaignerie is co-founder and Chairman of Citizen Capital, first French venture fund to provide capital to underserved businesses. Prior to this, Laurence had a key role since 2003 in promoting diversity in France : research fellow at the Institut Montaigne think tank, co-author of « Les oubliés de

l’égalité des chances » report in 2004 (« Bypassed by equal opportunity »), with Yazid Sabeg, co-author and launching of the Diversity Chart in October 2004 (initially signed by 35 blue chip groups’ CEOs, now by over 2,000 companies). She was Advisor to the French Ministry in charge of equal opportunity in 2005-2006, before she launched Citizen Capital in 2008 with Pierre-Olivier Barennes. Laurence also conducts a workshop on French «Supplier diversity» to develop business links between large groups and SMEs. She started her career as a journalist at the French leading newspaper for public local authorities.

Dominique Jacquet

Visiting Scholar

INSEAD

Dominique Jacquet has held, amongst others, positions as Treasurer of Rank Xerox, France, then Administrative and Financial Director of Ferinel Industries. His areas of interest are: Corporate financial policy, Evaluation and control of high-tech projects and corporations Co-author with Marc Bertonèche of "Risque de Taux d'Intérêt et Choix des Instruments Financiers", he has also published a "Guide Immobilier du Chef d'Entreprise". Parallel to his teaching activities he is also a consultant to various companies.


Theo Vermaelen

Schroders Chaired Professor in International Finance and Asset Management

INSEAD

Theo Vermaelen is Professor of Finance at INSEAD where he teaches in MBA and Executive programmes. He is a graduate from the Department of Applied Economics at the Catholic University of Leuven (Commercial Engineer) and obtained an MBA and PhD in Finance from the Graduate School of Business, University of Chicago. Dr Vermaelen started his career at the University of British Columbia, Canada in 1979 and joined the finance faculty of the Catholic University of Leuven, Belgium, in 1982. From 1987 on he has been on the faculty at INSEAD. He has also been a visiting professor at the London Business School, UCLA and is a regular visitor at the Graduate School of Business, University of Chicago. He has published numerous articles on share buybacks, dividend policy, capital structure, death spiral convertibles, initial public offerings, mergers and acquisitions in leading academic journals, including the Journal of Finance, the Journal of

Financial Economics, The Review of Financial Studies and the

Journal of Banking and Finance. He is co-editor of the Journal of

Empirical Finance. He is also a consultant to various corporations and government agencies and Programme Director of the Amsterdam Institute of Finance, a financial training institute that specializes in courses for investment bankers. Theo Vermaelen applied the results of his research on share buybacks by launching, in cooperation with KBC, in 1998 the first mutual fund exploiting the buyback anomaly, i.e. the KBC Equity Buyback Fund America. He is also a member of the Board of Directors of Brendan Technologies, a California-based biotech firm. At INSEAD he is program director of the Corporate Financial Strategies in Global Markets Program and co-director of the Global Investment Workshop and the Macquarie Masters in Finance (Investment banking) program. He has directed various programs for banks such as Mees Pierson, BBL, JP Morgan, and Deutsche Bank. His current research focuses on making the link between corporate finance and asset management. Specifically his research aims to show how corporations time the market when they make capital structure decisions and how investors can exploit these anomalies.


Luk Van Wassenhove

Professor of Operations Management, The Henry Ford Chaired Professor of Manufacturing, Executive Education Programme Director, Management in the Humanitarian Sector

INSEAD

Professor Van Wassenhove's research and teaching are concerned with operational excellence, supply chain management, quality, continual improvement and learning. His recent research focus is on closed-loop supply chains (product take-back and end-of-life issues) and on disaster management (humanitarian logistics). He is senior editor for Manufacturing and Service Operations Management and departmental editor for Production and Operations Management. He publishes regularly in Management Science, Production and Operations Management, and many other academic as well as management journals (like Harvard Business Review and California Management Review). He is the author of several award-winning teaching cases and regularly consults for major international corporations. In 2005, Professor Van Wassenhove was elected Fellow of the Production and Operations Management Society (POMS). In 2006, he was the recipient of the EURO Gold Medal for outstanding academic achievement. In 2009 he was elected Distinguished Fellow of the Manufacturing and Services Operations Management Society (MSOM), and received the Lifetime Achievement Faculty Pioneer Award from the European Academy of Business in Society (EABIS) and the Aspen Institute. Before joining INSEAD he was on the faculty at Erasmus University Rotterdam and Katholieke Universiteit Leuven. At INSEAD he holds the Henry Ford Chair of Manufacturing. He also created the INSEAD Social Innovation Centre and acted as academic director until September 2010.


Christine Blondel

Adjunct Professor of Entrepreneurship and Family Enterprise, Executive Education Programme Director, The Family Enterprise Challenge INSEAD

Christine Blondel is Adjunct Professor of Family Business at INSEAD. She co-directs the Family Enterprise Challenge, INSEAD four-day educational programme for family businesses. She advises several business families, serves on boards of traded family-influenced companies and regularly speaks in conferences. She coordinated INSEAD activities in the field of family firms from their creation in January 1997 to December 2007 and was the first Executive Director of the Wendel International Centre for Family Enterprise at INSEAD. INSEAD’s activities in the field of family firms were initiated thanks to the Wendel and reinforced by the Tetra Laval Research Fund for the Large Family Firm, the Berghmans/Lhoist Chair in entrepreneurial leadership, gifts from INSEAD alumni, and the André and Rosalie Hoffmann Chair and Research Fund in Family Enterprise. The activities include optional courses on family firms for MBA and executive education participants; research and development of pedagogical cases; roundtables for representatives of large family firms; a four-day programme for business families : « The Family Enterprise Challenge », and tailor-made programmes for family businesses. Christine Blondel is the lead author of the book” L’entreprise familiale sauvera-t-elle le capitalisme? Portraits”. She contributed to several articles, cases and books on topics including large, multi-generational family firms, successors’ dilemma, Fair Process, governance, women in the family business, and the sale of the family business. Her case “the Resort in Pueblo Valley” received the 2008 award from the European Case Clearing House in the Entrepreneurship category. The research article “Fair Process; Striving for Justice in Family Business” received the 2006 FBN Research Honours for the best published article on family business practices. Christine Blondel was a board member of the Family Business Network (FBN) from 2001 to 2004, and a founding board member of the International Family Enterprise Research Academy (IFERA). She is a member of the Family Firm Institute, a network of academics and advisors. She was trained to facilitate the « Road Map for Business Families » by the Institute for Business Families in Montreal, Canada. A graduate from INSEAD (MBA 1981) and Ecole Polytechnique (France, promotion 1977) she worked 3 years as a management consultant before joining Procter & Gamble, where she had positions in Marketing (Brand Manager) and Finance (Associate Finance Director) (1984 to 1993). A mother of four children, her interest for family business finds its roots in her own family: both her grand-fathers were owner-managers of such businesses.


Paul Kleindorfer

Distinguished Research Professor, The Paul Dubrule Chaired Professor of Sustainable Development

INSEAD

Dr. Kleindorfer is Distinguished Research Professor in Technology and Operations Management at INSEAD. He is also the Anheuser-Busch Professor Emeritus of Management Science at the Wharton School of the University of Pennsylvania. Dr. Kleindorfer was a faculty member at Wharton from 1973 to 2006. He graduated with distinction (B.S.) from the U. S. Naval Academy in 1961. He studied on a Fulbright Fellowship in Mathematics at the University of Tübingen, Germany (1964/65), followed by doctoral studies at Carnegie Mellon University, from which he received his Ph.D. in 1970 in Systems and Communication Sciences at the Graduate School of Industrial Administration. Dr. Kleindorfer has held university appointments at Carnegie Mellon University (l968/9), Massachusetts Institute of Technology (1969/72), The Wharton School (1973 - Present), and several universities and international research institutes, including the University of Frankfurt, INSEAD, Ulm University, IIASA and The Science Center (Berlin). Dr. Kleindorfer has published over 25 books and many research papers in the areas of operations management, managerial economics and regulation. Dr. Kleindorfer has held a number of editorial and professional positions over the years, including his current position as associate editor of the Journal of Regulatory Economics. Dr. Kleindorfer was named a Fellow in the Production & Operations Management Society in 2005. He has consulted with companies and governmental agencies worldwide on risk management and technology strategy. Dr. Kleindorfer’s work has been concerned primarily with risk management and with the integration of operations, economics and finance. His sectoral interests have focused on capital-intensive sectors such as chemicals, energy and semiconductors. In these areas, Dr. Kleindorfer has been concerned with a broad range of risk management activities, ranging from major accident prevention to hedging and trading to mitigate supply and demand coordination risks. Dr. Kleindorfer is currently the Chair of the INSEAD Advisory Panel on Energy, which has as its objective to assist INSEAD to promote sustainable energy policies in business and society.

N. Craig Smith

The INSEAD Chaired Professor of Business Ethics and Corporate Responsibility

INSEAD

Professor N. Craig Smith is the INSEAD Chair in Ethics and Social Responsibility at INSEAD in Fontainebleau, France. He was previously on the faculties of London Business School, Georgetown University, and Harvard Business School. His current research projects examine ethical consumerism, deception in marketing, marketing ethics, and strategic drivers of corporate responsibility. His recent publications appear in Business Ethics Quarterly, Journal of Business Ethics, Journal of Marketing, Sloan Management Review, California Management Review, and Psychology & Marketing.

guest speaker and panellists’ background - insead · desclée de brouwer, paris, 2009); role of...

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