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| From Perestroika to the Present -
The Growth and Development of Russia’s
Banking and Financial Services Sector |
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for a Quick Guide of the
online reservation process. |
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When
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Where
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Cost
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Tuesday, Jan 22
5:45 – 8:30 pm |
Goldman Sachs
180 Maiden Lane, 3rd Floor
(Between Front Street and the FDR Drive)
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$42 Members
$52 Non-Members |
 In preparation for the FWA’s International Conference to Russia in May of 2008, Gail Buyske, a renown Russian banking expert, will share her insights about the sector’s present landscape and future opportunities.
As one of the newest additions to the Russian economy, the financial services sector is still evolving, very dynamic and unpredictable. The impressive growth of the local retail banks illustrates the remarkable upside opportunities of Russian banking. However, lending in Russia has lagged other countries in the region due to politicization and incentives built into the post-Soviet banking system and the 1998 financial crisis. Additionally, a high degree of state ownership of banks tends to dampen competition and therefore slow economic growth. Despite this, consumer lending has almost doubled annually over the past three years and we have seen rapid development of Russia’s entrepreneurs, as microfinance in Russia has emerged as a specialized banking product. The appearance of foreign banks has also had a positive effect on the sector and economy, with future bank IPOs likely bringing more positive changes to the market landscape.
Ms. Buyske will review the financial characteristics and future of the banking sector as a whole, the impact of the global liquidity crisis on the domestic interbank market, the role of banks in microfinance, and discuss a once-in–a- century opportunity to build a very large global bank in Russia.
Speaker Profile
Gail Buyske is a banking expert whose work is focused on banking sector development in emerging economies, particularly those of the former Soviet Union. Her clients include the World Bank, USAID, CGAP, and the ADB. Prior to developing her own consulting business, she spent 12 years in the international division of the Chase Manhattan Bank (assignments covering Asia, Latin America and the former Soviet Union) and three years with the European Bank for Reconstruction and Development, based in Moscow, where she headed their bank sector. She is currently a member of the board of directors and audit committees of Swedbank, Kazkommertsbank (the largest privately owned bank in the former Soviet Union), and URSA Bank (the 17th largest bank in Russia). Her book, Banking on Small Business: Microfinance in Contemporary Russia (Cornell University Press, 2007) is based on her experience as chairman of the board of directors of KMB Bank, a Russian bank founded to lend to micro and small businesses. Ms. Buyske has an MPA degree from the Woodrow Wilson School and a PhD in political science from Columbia University, where she wrote her thesis on the growth and development of the Russian banking system.
Special thanks to Goldman Sachs for sponsoring this program.
This event is organized by the International Conference Committee.
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Reservations Required -- Bring Photo ID -- No Walk-Ins |
Reservations/Cancellations and Payments are required by Friday, January 18th. |
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